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4469 full-text articles. Page 1 of 117.

Offshore Accounts: Insider's Summary Of Fatca And Its Potential Future, J. Richard Harvey Jr. 2017 Selected Works

Offshore Accounts: Insider's Summary Of Fatca And Its Potential Future, J. Richard Harvey Jr.

Richard Harvey

No abstract provided.


Student Loan Derivatives: Improving On Income-Based Approaches To Financing Law School, Benjamin M. Leff, Heather Hughes 2017 Selected Works

Student Loan Derivatives: Improving On Income-Based Approaches To Financing Law School, Benjamin M. Leff, Heather Hughes

Benjamin Leff

No abstract provided.


From Paper To Electronic Order: The Digitalization Of The Check In The Usa, Benjamin Geva 2017 Osgoode Hall Law School of York University

From Paper To Electronic Order: The Digitalization Of The Check In The Usa, Benjamin Geva

Benjamin Geva

This article explores the various stages in the check payment in which electronic transmission has replaced physical delivery. Part I discusses converting the check into an electronic entry at a point of sale of goods and services. Part II addresses the electronic presentment of a check. Part III deals with the possible conversion of the check from paper to electronic, and vice versa, within the interbank check collection system. Interbank exchange of check images is the subject of Part IV. Part V addresses the electronic order that operates like a check but that has never been in a paper format ...


The Medieval Hawale: The Legal Nature Of The Suftaj And Other Islamic Payment Instruments, Benjamin Geva 2017 Osgoode Hall Law School of York University

The Medieval Hawale: The Legal Nature Of The Suftaj And Other Islamic Payment Instruments, Benjamin Geva

Benjamin Geva

By the middle of the eighth century CE the Arabs established their dominion from the Atlantic Ocean to west of the Persian Gulf. In the process, they spread Islam and established Islamic law as the law of the land throughout this entire vast territory. Until the rise of the Turkish Ottoman Empire between the 13th the 16th centuries CE, that territory included North Africa (both Egypt and the Maghreb), Israel/Palestine, Lebanon, Syria, Iraq and Arabia. The era of the pre-Ottoman Arab domination of those lands roughly coincides with the Middle Ages. During that time, centres of economic and financial ...


The Fictitious Payee After Teva V. Bmo: Has The Pendulum Swung Back Far Enough?, Benjamin Geva 2017 Osgoode Hall Law School of York University

The Fictitious Payee After Teva V. Bmo: Has The Pendulum Swung Back Far Enough?, Benjamin Geva

Benjamin Geva

Under Section 20(5) of the Bills of Exchange Act (‘‘BEA s. 20(5)”) where on a bill of exchange ‘‘the payee is a fictitious or non-existing person, the bill may be treated as payable to bearer.” A bill of exchange includes a cheque. Where BEA s. 20(5) applies to a cheque, its effect is to reallocate forged endorsement losses from banks involved in the collection and payment of the cheque to the drawer. Quite recently, in commenting on Raza Kayani LLP v. Toronto-Dominion Bank, I highlighted the ongoing confusion in the judicial interpretation of BEA s. 20(5 ...


Electronic Verification Of Wire Payment Orders, Benjamin Geva 2017 Osgoode Hall Law School of York University

Electronic Verification Of Wire Payment Orders, Benjamin Geva

Benjamin Geva

Over the years, albeit less so in connection with consumer accounts, the bank's absolute liability became subject to exceptions. Particularly, bypassing a classical text explicitly to the contrary, it had been recognized that a customer's fault can lead to the forgery of the customer's own signature and hence to forgery losses.


Best Practice For The Uniform Treatment Of Wire Payments, Benjamin Geva 2017 Osgoode Hall Law School of York University

Best Practice For The Uniform Treatment Of Wire Payments, Benjamin Geva

Benjamin Geva

Like any method of payment, the wire transfer may be either an "on-us" or interbank payment. In Canada, as long as they are between large banks, interbank wire payments are processed through the Canadian Payments Association's ("CPA") Large Value Transfer System ("LVTS").


Crowdfunding Without The Crowd, Darian M. Ibrahim 2017 William & Mary Law School

Crowdfunding Without The Crowd, Darian M. Ibrahim

Faculty Publications

The final crowdfunding rules took three years for the Securites and Exchange Commission to pass, but crowdfunding—the offering of securities over the Internet—is now a reality. But now that crowdfunding is legal, will it be successful? Will crowdfunding be a regular means by which new companies raise money, or will it be relegated to a wasteland of the worst startups and foolish investors? This Article argues that crowdfunding has a greater chance of success if regulators abandon the idea that the practice does (and should) employ “crowd-based wisdom.” Instead, I argue that crowdfunding needs intermediation by experts that ...


Regulating Robo Advice Across The Financial Services Industry, Tom Baker, Benedict G. C. Dellaert 2017 University of Pennsylvania Law School

Regulating Robo Advice Across The Financial Services Industry, Tom Baker, Benedict G. C. Dellaert

Faculty Scholarship

Automated financial product advisors – “robo advisors” – are emerging across the financial services industry, helping consumers choose investments, banking products, and insurance policies. Robo advisors have the potential to lower the cost and increase the quality and transparency of financial advice for consumers. But they also pose significant new challenges for regulators who are accustomed to assessing human intermediaries. A well-designed robo advisor will be honest and competent, and it will recommend only suitable products. Because humans design and implement robo advisors, however, honesty, competence, and suitability cannot simply be assumed. Moreover, robo advisors pose new scale risks that are different ...


Getting Specific About The Policy And Tools Of Securities Regulation: A Limited Response To Diversifying To Mitigate Risk: Can Dodd–Frank Section 342 Help Stabilize The Financial Sector?, Joan MacLeod Hemingway 2017 University of Tennessee College of Law

Getting Specific About The Policy And Tools Of Securities Regulation: A Limited Response To Diversifying To Mitigate Risk: Can Dodd–Frank Section 342 Help Stabilize The Financial Sector?, Joan Macleod Hemingway

Washington and Lee Law Review Online

No abstract provided.


Foreword, Patricia A. McCoy 2017 Boston College Law School

Foreword, Patricia A. Mccoy

Boston College Journal of Law & Social Justice

In the wake of the financial crisis, mortgage lending to lower-income and minority borrowers overcorrected and has not recovered. Although homeownership is a riskier investment than previously realized, still it remains a proven path to increased wealth on balance for lower-income households. There are a number of reasonable reforms that could achieve greater access to credit while containing default risk. These include strategies to reduce down payments safely and to keep monthly payments manageable, combined with fixed-rate loans. Prepurchase counseling is important to preparing applicants for the financial demands of homeownership and strengthening their credit histories, while rapid foreclosure prevention ...


Quantifying The Tightness Of Mortgage Credit And Assessing Policy Actions, Laurie S. Goodman 2017 Urban Institute

Quantifying The Tightness Of Mortgage Credit And Assessing Policy Actions, Laurie S. Goodman

Boston College Journal of Law & Social Justice

This Article quantifies the dramatic tightening of mortgage credit that has occurred in the post-crisis period. It then describes the policy actions to loosen the credit box taken to date by both the government sponsored enterprises (GSEs) and their regulator, the Federal Housing Finance Agency (FHFA), as well as those taken by the Federal Housing Administration (FHA), concluding the FHA still has some important actions it has yet to undertake. Finally, the consequences of tight credit are discussed: namely, a lower home ownership rate, particularly among minorities, leaving many unable to access what has historically been the single most powerful ...


Expanding The Mortgage Credit Box: Lessons From The Community Advantage Program, Roberto G. Quercia, Sarah Riley 2017 University of North Carolina at Chapel Hill

Expanding The Mortgage Credit Box: Lessons From The Community Advantage Program, Roberto G. Quercia, Sarah Riley

Boston College Journal of Law & Social Justice

The Great Recession has raised concerns about the promotion of homeownership to low- and moderate-income families. The subprime credit boom of the early 2000s was replaced with an overall credit retrenchment. The reforms to the housing finance system, begun with the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act, remain incomplete given the uncertain future of the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”). In light of this uncertainty, can or should homeownership continue to be supported, and if so, in what way? In this paper, we examine one ...


One Mortgage: A Model Of Success For Low-Income Homeownership, Clark L. Ziegler, Elliot Schmiedl, Thomas Callahan 2017 Massachusetts Housing Partnership

One Mortgage: A Model Of Success For Low-Income Homeownership, Clark L. Ziegler, Elliot Schmiedl, Thomas Callahan

Boston College Journal of Law & Social Justice

A 1989 report by the Federal Reserve Bank of Boston identified major racial disparities in mortgage lending in the City of Boston that could not be explained by income, credit scores, or other objective underwriting factors. In response, city and state officials, community organizations, and major banking institutions joined together in 1990 to design and launch what is now the Massachusetts ONE Mortgage program. The program is built around a low down payment mortgage loan with discounted interest rates, a state funded loan loss reserve that eliminates the need for mortgage insurance, retention of servicing and credit risk by the ...


Discussion Of Papers On Cyclicality In Mortgage Markets, Edward J. Kane 2017 Boston College

Discussion Of Papers On Cyclicality In Mortgage Markets, Edward J. Kane

Boston College Journal of Law & Social Justice

The mortgage market can be portrayed as a complicated machine that processes information and disinformation to help lenders and would-be homeowners to fashion an enforceable and fair set of mutual obligations. The papers in this symposium issue focus on ameliorating cyclical speed-ups and slowdowns in the lender-operated parts of this machine. My discussion focuses on two issues: (1) how transitioning to a gig economy is changing household needs for owner-occupied and rental homes across different age groups; and (2) how to use the legal system to lessen the informational disadvantage that would-be homeowners face in understanding the deals they are ...


Mortgage Supply Chain Failure And Innovation, Lisa Davis 2017 Pembrook Capital Management LLC

Mortgage Supply Chain Failure And Innovation, Lisa Davis

Boston College Journal of Law & Social Justice

The standard mortgage supply chain is so costly and inefficient that large national banks have dramatically scaled back their provision of mortgages to low- and moderate-income households. Absent regulatory requirements, subsidy, improvement in the way the mortgage supply chain works, or maybe all three, low- and moderate-income households will continue to be underserved by those banks with the largest share of the mortgage market. A number of factors contribute to this problem, including expensive marketing costs and commissions, as well as the obsolete, paper-based technology for loan production. Arguably, the national banking system has never excelled at providing fairly priced ...


Why Cyclicality Matters To Access To Mortgage Credit, Patricia A. McCoy, Susan M. Wachter 2017 Boston College Law School

Why Cyclicality Matters To Access To Mortgage Credit, Patricia A. Mccoy, Susan M. Wachter

Boston College Journal of Law & Social Justice

Virtually no attention has been paid to the problem of cyclicality in debates over access to mortgage credit, despite its importance as a driver of tight credit. Housing markets are prone to booms accompanied by bubbles in mortgage credit in which lenders cut underwriting standards, leading to elevated loan defaults. During downturns, these cycles artificially impede access to mortgage credit for underserved communities. During upswings, these cycles make homeownership unnecessarily precarious for many who attain it. This volatility exacerbates wealth and income disparities by ethnicity and race. The boom-bust cycle must be addressed in order to assure healthy and sustainable ...


Violence Taxes: New Way To Recoup And Prevent The Costs Of Gun Violence? Or New Method To Destroy Business And Competitiveness?, Joseph R. Buoscio Jr. 2017 DePaul University

Violence Taxes: New Way To Recoup And Prevent The Costs Of Gun Violence? Or New Method To Destroy Business And Competitiveness?, Joseph R. Buoscio Jr.

DePaul Business and Commercial Law Journal

No abstract provided.


In Retrospect Of 40 Years, Another Look At Andrews' Personal Deductions Argument: A Comparison Of Charitable Contributions And Child-Care Expenses, Limor Riza 2017 University of Haifa, Israel

In Retrospect Of 40 Years, Another Look At Andrews' Personal Deductions Argument: A Comparison Of Charitable Contributions And Child-Care Expenses, Limor Riza

DePaul Business and Commercial Law Journal

No abstract provided.


The Centralization Of The Banking Industry: Dodd-Frank's Impact On Community Banks And The Need For Both Regulatory Relief And An Overhaul Of The Current Framework, Bryce W. Newell 2017 DePaul University

The Centralization Of The Banking Industry: Dodd-Frank's Impact On Community Banks And The Need For Both Regulatory Relief And An Overhaul Of The Current Framework, Bryce W. Newell

DePaul Business and Commercial Law Journal

No abstract provided.


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