Open Access. Powered by Scholars. Published by Universities.®

Banking and Finance Law Commons

Open Access. Powered by Scholars. Published by Universities.®

Discipline
Institution
Keyword
Publication Year
Publication
Publication Type
File Type

Articles 1 - 30 of 4701

Full-Text Articles in Banking and Finance Law

Banking In The Digital Age - Who Is Afraid Of Payment Disintermediation?, Benjamin Geva Jul 2018

Banking In The Digital Age - Who Is Afraid Of Payment Disintermediation?, Benjamin Geva

Benjamin Geva

Throughout the ages, banks have evolved as intermediaries taking deposits of funds, lending money, and providing payment services. In the process they became also suppliers of commercial bank money, now only in the form of bank deposits. Following a historical review as to how moneychangers and goldsmiths became bankers, the paper points out that money and payment digitization has brought some challenges to the traditional role of banks as intermediaries. First, the digital age is about to facilitate the availability of central bank money balances or their equivalent to the public. Second, cryptocurrencies and blockchains were born. Third, claim-check centralized ...


Response Regarding Bureau Financial Education Programs (Docket No. Cfpb-2018-0015), Carly Urban, J. Michael Collins, Stephanie Moulton, Financial Regulation And Consumer Protection Scholars And Former Regulators Jul 2018

Response Regarding Bureau Financial Education Programs (Docket No. Cfpb-2018-0015), Carly Urban, J. Michael Collins, Stephanie Moulton, Financial Regulation And Consumer Protection Scholars And Former Regulators

CFPB Comments by Scholars & Regulators

Response discussing whether the Consumer Federal Protection Bureau should continue its financial education programs.


Response Regarding Bureau Guidance And Implementation Support (Docket No. Cfpb-2018-0013), Adam J. Levitin, Financial Regulation And Consumer Protection Scholars And Former Regulators Jul 2018

Response Regarding Bureau Guidance And Implementation Support (Docket No. Cfpb-2018-0013), Adam J. Levitin, Financial Regulation And Consumer Protection Scholars And Former Regulators

CFPB Comments by Scholars & Regulators

No abstract provided.


The Certification Paradox, Jonathan M. Barnett Jul 2018

The Certification Paradox, Jonathan M. Barnett

University of Southern California Legal Studies Working Paper Series

It is commonly observed that certification intermediaries mitigate informational asymmetries by “lending” reputational capital to support transacting parties’ quality commitments. However, this proposition is challenged by cases in which well-established intermediaries have failed to detect fraud, misrepresentation and other misbehavior. The “certification paradox” provides a more nuanced account that anticipates both the general success, and periodic failure, of certification intermediaries. Transacting parties minimize search and evaluation costs by using a small number of certification intermediaries with large stocks of reputational capital. Incumbent certifiers are substantially protected by entrants’ high costs of accumulating sufficient reputational capital and users’ high costs of ...


The Sec And Foreign Private Issuers: A Path To Optimal Public Enforcement, Yuliya Guseva Jul 2018

The Sec And Foreign Private Issuers: A Path To Optimal Public Enforcement, Yuliya Guseva

Boston College Law Review

This Article examines SEC enforcement policies and seeks to find the optimum approach to enforcement against foreign private issuers. My previous empirical study of securities class actions against foreign firms identified a number of crucial developments that mainly occurred after Morrison v. National Australia Bank. In Morrison, the Supreme Court sought to limit the extraterritorial reach of the antifraud provisions of the U.S. securities laws. The Court has scaled down the exposure of foreign issuers to securities liability risk, particularly in class-action litigation. If the Supreme Court in Morrison has created a risky enforcement lacuna on the side of ...


Response Regarding Inherited Regulations And Inherited Rulemaking Authorities (Docket No. Cfpb-2018-0012), Kathleen Engel, Financial Regulation And Consumer Protection Scholars And Former Regulators Jun 2018

Response Regarding Inherited Regulations And Inherited Rulemaking Authorities (Docket No. Cfpb-2018-0012), Kathleen Engel, Financial Regulation And Consumer Protection Scholars And Former Regulators

CFPB Comments by Scholars & Regulators

Response offering comment on the Consumer Federal Protection Bureau's inherited regulations and inherited rulemaking authorities.


Cryptocurrency Competition And The U.S. Monetary System, Jesus Fernandez-Villaverde Jun 2018

Cryptocurrency Competition And The U.S. Monetary System, Jesus Fernandez-Villaverde

Penn Wharton Public Policy Initiative

Advocates of cryptocurrencies such as Bitcoin believe that having currency competition will help achieve the economic objective of price stability. This Issue Brief summarizes research that explores whether competition among privately issued fiat currencies can actually produce price stability. The research finds that in most cases, a system of private monies does not deliver price stability. And even when it does, it always is subject to self-fulfilling inflationary episodes, and it supplies a suboptimal amount of money. Although there is no economic reason to curb the use of cryptocurrencies at the moment, it is important to review key regulatory issues ...


Multinational Efforts To Limit Intellectual Property Income Shifting: The Oecd’S Base Erosion And Profit Shifting (Beps) Project, Jeffrey Maine Jun 2018

Multinational Efforts To Limit Intellectual Property Income Shifting: The Oecd’S Base Erosion And Profit Shifting (Beps) Project, Jeffrey Maine

Science and Technology Law Review

No abstract provided.


Beyond Tpp: Legal Reform For Financing Intellectual Property And Innovation In Vietnam, Xuan-Thao Nguyen Jun 2018

Beyond Tpp: Legal Reform For Financing Intellectual Property And Innovation In Vietnam, Xuan-Thao Nguyen

Science and Technology Law Review

No abstract provided.


The Final Countdown: California Public Employees’ Retirement System V. Anz Securities And The Sweeping Ban On Tolling Statutes Of Repose In Class Actions, Emily Kelsay Jun 2018

The Final Countdown: California Public Employees’ Retirement System V. Anz Securities And The Sweeping Ban On Tolling Statutes Of Repose In Class Actions, Emily Kelsay

Maryland Law Review

No abstract provided.


Response Regarding Adopted Regulations (Docket No. Cfpb-2018-0011), Patricia Mccoy, Financial Regulation And Consumer Protection Scholars And Former Regulators Jun 2018

Response Regarding Adopted Regulations (Docket No. Cfpb-2018-0011), Patricia Mccoy, Financial Regulation And Consumer Protection Scholars And Former Regulators

CFPB Comments by Scholars & Regulators

Response offering comment on the Consumer Federal Protection Bureau's adopted regulations and new rulemaking authorities.


Regulating Fintech: Lessons From Africa, Anton Didenko Jun 2018

Regulating Fintech: Lessons From Africa, Anton Didenko

San Diego International Law Journal

Technological innovation in finance (“FinTech”) has been on the rise in recent years, creating new challenges for regulators. These challenges vary significantly depending on the region in question and type of economy, not least because different technologies are applied to tackle different problems. This Article focuses on regulatory frameworks of two leading jurisdictions in terms of FinTech development in Sub-Saharan Africa: Kenya and South Africa. As the developments in the region cannot be analyzed in isolation from the global trends in FinTech regulation, this Article approaches the matter systematically. It starts by clarifying the existing terminology and preparing a comprehensive ...


Proxy Access Voting: Evaluating Proxy Access And The Recent Phenomenon Of Corporations Adopting Shareholder Protective Policies, Danielle Vukovich Jun 2018

Proxy Access Voting: Evaluating Proxy Access And The Recent Phenomenon Of Corporations Adopting Shareholder Protective Policies, Danielle Vukovich

San Diego International Law Journal

Shareholders hold a financial stake in a corporation, and therefore are often viewed as owners of the corporation and believed to be in control for all corporate actions. However, their powers are circumscribed. Board of directors committees nominate directors to serve the corporation and these directors have the power to select the corporation’s officers. The committees provide shareholders a slate of proposed directors that are voted on and approved at the annual shareholder meeting. Shareholders may also propose their own slate of directors, but this typically requires a proxy contest, which can be expensive due to the costs both ...


Response Regarding Bureau Rulemaking Processes (Docket No. Cfpb-2018-0009), Patricia A. Mccoy, Financial Regulation And Consumer Protection Scholars And Former Regulators Jun 2018

Response Regarding Bureau Rulemaking Processes (Docket No. Cfpb-2018-0009), Patricia A. Mccoy, Financial Regulation And Consumer Protection Scholars And Former Regulators

CFPB Comments by Scholars & Regulators

Response discussing whether the Consumer Federal Protection Bureau should alter its procedures for adopting new rules to protect consumers.


Response Regarding Bureau Public Reporting Practices Of Consumer Complaint Information (Docket No. Cfpb-2018-0006), Pamela Foohey, Angela K. Littwin, Amy J. Schmitz, Financial Regulation And Consumer Protection Scholars And Former Regulators Jun 2018

Response Regarding Bureau Public Reporting Practices Of Consumer Complaint Information (Docket No. Cfpb-2018-0006), Pamela Foohey, Angela K. Littwin, Amy J. Schmitz, Financial Regulation And Consumer Protection Scholars And Former Regulators

CFPB Comments by Scholars & Regulators

Response discussing whether the Consumer Federal Protection Bureau should take down its consumer complaint database.


Financing Green: Reforming Green Bond Regulation In The United States, Echo Kaixi Wang Jun 2018

Financing Green: Reforming Green Bond Regulation In The United States, Echo Kaixi Wang

Brooklyn Journal of Corporate, Financial & Commercial Law

In recent years, green bonds have emerged as a way for the financial industry to contribute to environmentally friendly projects, combat climate change, and provide funds for green infrastructures across the world. While the green bond market has expanded drastically across large nations in Europe and Asia, market growth has stalled in the United States, in part due to a lack of promising regulations in the United States. Existing regulations on green bond issuance in the United States only exists in the form of non-binding international guidelines. This Note reviews the benefits and potentials of green bonds both as an ...


Whistleblowers—A Case Study In The Regulatory Cycle For Financial Services, Ronald H. Filler, Jerry W. Markham Jun 2018

Whistleblowers—A Case Study In The Regulatory Cycle For Financial Services, Ronald H. Filler, Jerry W. Markham

Brooklyn Journal of Corporate, Financial & Commercial Law

The Securities and Exchange Commission and the Commodity Futures Trading Commission were directed by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank) to create whistleblower protection programs that reward informants with massive bounty payments. At the time of its passage, the Dodd-Frank Act was a highly controversial statute that was passed on partisan lines. Its whistleblowing authority was one of its “most contentious provisions.” As the result of the 2016 elections, the Dodd-Frank Act has come under renewed attack in Congress and by the new Trump administration. The stage is being set for possible repeal of ...


Sourcing Service Receipts For Franchise Tax Apportionment In Texas, Ray Langenberg, Matt Jones Jun 2018

Sourcing Service Receipts For Franchise Tax Apportionment In Texas, Ray Langenberg, Matt Jones

St. Mary's Law Journal

Abstract forthcoming


When Good Policies Go Bad: Controlling Risks Posed By Flawed Incentive-Based Compensation, Nicole Vincent May 2018

When Good Policies Go Bad: Controlling Risks Posed By Flawed Incentive-Based Compensation, Nicole Vincent

Cleveland State Law Review

The recent Wells Fargo scandal revealed the harm that can result from flawed incentive-based compensation arrangements. Large financial institutions have both a legal and an ethical obligation to ensure that any incentive-based compensation arrangements that are in place will not encourage risky or fraudulent employee behavior. The continued existence of inappropriate and poorly structured arrangements demonstrates that existing regulations are inadequate to ensure compliance and protect consumers. Regulations should include increased penalties and should more evenly distribute the burden of oversight and compliance between the public and private sectors. In addition to regulatory reform, the government should prosecute culpable high-level ...


Uncharted Waters? Legal Ethics And The Benefit Corporation, Joseph Pileri May 2018

Uncharted Waters? Legal Ethics And The Benefit Corporation, Joseph Pileri

St. Mary's Journal on Legal Malpractice & Ethics

Corporate law norms are reflected in lawyers’ ethical duties. The enactment of benefit corporation legislation across the country signals a legislative acknowledgment that corporate law can serve as a public, rather than a merely private, ordering mechanism. Benefit corporations expressly adopt a public benefit as a legal purpose of the enterprise. While many have written about this important development with respect to corporate fiduciary law, this essay is the first to explore the professional and ethical responsibility of lawyers representing benefit corporations. In the last century, as scholars and courts drove an understanding of corporate law that elevated the interests ...


Protecting San Francisco Residents From The Wolves Of Wall Street: A Case Study, Jessica Lindquist May 2018

Protecting San Francisco Residents From The Wolves Of Wall Street: A Case Study, Jessica Lindquist

Master's Projects and Capstones

This research conducts the first deep data analysis of the public complaints filed to the Consumer Financial Protection Bureau's Consumer Complaint database by San Francisco residents. The case study highlights how consumer financial harms are a citywide problem: San Franciscans living at every income level and in every part of the city are struggling to resolve their financial issues with the wolves of Wall Street, the financial services industry. The recommendations center on what the city, particularly the San Francisco Office of Financial Empowerment, can do at a local level now that the Trump administration is focused on deregulating ...


Investor-State Dispute Settlement Reconceptionalized: Regulation Of Disputes, Standards And Mediation, M. R. Dahlan, Wolf Von Kumberg May 2018

Investor-State Dispute Settlement Reconceptionalized: Regulation Of Disputes, Standards And Mediation, M. R. Dahlan, Wolf Von Kumberg

Pepperdine Dispute Resolution Law Journal

This paper argues that the current criticisms of Investor-State Dispute Settlement (ISDS) are ill-informed, and attempts at reforming the system are misguided. The definition of ISDS itself has been, for a long time, limited to investment quasi-judicial bodies or at best arbitration. Analysis of the roots of the ever growing backlash reveals that the main causes for concern are politically negotiated investment treaties, an inherently biased system, lack of transparency, and inconsistent decision-making. Examination of the core reasons behind these complaints leads to the conclusion that the EU Commission’s solution to reform ISDS through a permanent court raises more ...


The Cyprus Banking Haircut And Human Rights, The Way To Go?, Venetia Argyropoulou May 2018

The Cyprus Banking Haircut And Human Rights, The Way To Go?, Venetia Argyropoulou

Pepperdine Dispute Resolution Law Journal

The Cyprus Banking Haircut of 2013 (Cyprus Haircut or Haircut) was unprecedented and had devastating implications for investors. However, more than four years after the Cyprus Haircut of 2013, account holders and shareholders in Cyprus’ two largest banks at the time—Bank of Cyprus and Cyprus Popular Bank—still do not have any available recourse for their losses. Indeed, despite account holders having resorted to national courts in the Republic of Cyprus, the Court of Justice of the European Union (CJEU) and international tribunals, such as the International Centre for Settlement of Investment Disputes (ICSID). Despite making human rights’ claims ...


Testing Fannie Mae's And Freddie Mac's Post-Crisis Self-Preservation Policies Under The Fair Housing Act, Shelby D. Green May 2018

Testing Fannie Mae's And Freddie Mac's Post-Crisis Self-Preservation Policies Under The Fair Housing Act, Shelby D. Green

Cleveland State Law Review

Beginning in the 1930s, the federal government adopted programs and policies toward safe and decent housing for all. The initiatives included the creation of the Federal Housing Administration that, among other things, spurred mortgage lending by guaranteeing mortgage loans to low- and moderate-income borrowers. The creation of the secondary mortgage market by Fannie Mae and Freddie Mac (GSEs) helped provide more liquidity for loan originators. However, somewhere along the way, these GSEs lost their way, as they pursued profitability without regard to risk and heedlessly bought mortgages without considering quality.

The overabundance of poor quality mortgages led to the housing ...


Borrowing In The Shadow Of Death: Another Look At Probate Lending, David Horton May 2018

Borrowing In The Shadow Of Death: Another Look At Probate Lending, David Horton

William & Mary Law Review

“Fringe” lending has long been controversial. Three decades ago, demand for subprime credit soared, and businesses started to offer high-interest rate cash advances, such as tax refund anticipation loans, payday loans, and pension loans. These products have sparked intense debate and are subject to a maze of rules.

However, in Probate Lending, published in the Yale Law Journal, a coauthor and I examined a form of fringe lending that has gone largely unnoticed: firms that pay lump sums in return for an heir or beneficiary’s interest in a pending decedent’s estate. Capitalizing on a California law that requires ...


The Cfpb’S Endaround, Chris O'Brien May 2018

The Cfpb’S Endaround, Chris O'Brien

Catholic University Law Review

The financial crisis of 2008 led Congress to enact the Dodd-Frank Wall Street Reform and Consumer Protection Act and establish the Consumer Financial Protection Bureau (CFPB) to better protect consumers. Although Dodd-Frank and the CFPB introduced sweeping changes to many areas of financial lending, automobile dealers and financers were expressly excluded from oversight by the CFPB. Despite this express limitation on the CFPB’s authority, the Bureau nonetheless expanded its definition of “larger participants” to encompass automobile dealers and financiers. This action has resulted in duplicative regulatory oversight and increased costs to consumers, which in turn, imposes additional burdens on ...


Response Regarding Bureau Enforcement Processes (Docket No. Cfpb-2018-0003), Christopher L. Peterson, Financial Regulation And Consumer Protection Scholars And Former Regulators May 2018

Response Regarding Bureau Enforcement Processes (Docket No. Cfpb-2018-0003), Christopher L. Peterson, Financial Regulation And Consumer Protection Scholars And Former Regulators

CFPB Comments by Scholars & Regulators

Response discussing whether the Consumer Federal Protection Bureau should stop taking enforcement actions against companies and people who violate the consumer financial protection laws.


Direct Regulation Of Hedge Funds: An Analysis Of Hedge Fund Regulation After The Implementation Of Title Iv Of The Dodd-Frank Act, Jacob Johnson May 2018

Direct Regulation Of Hedge Funds: An Analysis Of Hedge Fund Regulation After The Implementation Of Title Iv Of The Dodd-Frank Act, Jacob Johnson

DePaul Business and Commercial Law Journal

Jacob Johnson is a Class of 2018 Juris Doctor Candidate at DePaul University

College of Law and Research Staff Member of the DePaul Business and Commercial

Law Journal. He earned a B.A. in Political Science and minor in Business from the

University of Illinois at Urbana-Champaign in 2015. He would like to thank his

parents, John and Rebecca Johnson, for their constant support.


Deregulating The Music Industry: A Push To Give Power Back To The Songwriters, Scott Hanus May 2018

Deregulating The Music Industry: A Push To Give Power Back To The Songwriters, Scott Hanus

DePaul Business and Commercial Law Journal

Scott Hanus is a class of 2018 Juris Doctor Candidate at DePaul University

College of Law and a member of the research staff of the DePaul Business and

Commercial Law Journal. He earned a B.A. in History and Political Science from

the University of Illinois at Urbana-Champaign in 2015. He would like to thank his

parents, Don and Laura Hanus, for their constant support throughout his academic

career, the editors of the journal for their hard work, and Leo Fender for creating the

Fender Telecaster.


Initial Coin Offerings: Innovation, Democratization And The Sec, Jay Preston May 2018

Initial Coin Offerings: Innovation, Democratization And The Sec, Jay Preston

Duke Law & Technology Review

Initial coin offerings are a source of controversy in the world of startup fundraising, and their legality is, at best, an open question. Amid soaring valuations and rumors of looming SEC action, investors and issuers alike are scrambling to forge a path forward for the token-based startups of tomorrow. While issuers may soon be forced to comply with United States securities laws, the existing regime is inadequate because it does not allow startups to capture the unique benefits of coin sales and, more importantly, it does not allow eager American investors to take part in funding the world’s next ...