No Need For Cities To Despair After Bank Of America Corporation V. City Of Miami: How Patent Law Can Assist In Proving Predatory Loans Directly Cause Municipal Blight Under The Fair Housing Act, 2018 University of Maine School of Law
No Need For Cities To Despair After Bank Of America Corporation V. City Of Miami: How Patent Law Can Assist In Proving Predatory Loans Directly Cause Municipal Blight Under The Fair Housing Act, Jesse D.H. Snyder
Maine Law Review
Lack of sanguinity for cities was manifest after the Supreme Court’s May 1, 2017, opinion in Bank of America Corporation v. City of Miami. Although Bank of America recognized that cities have Article III standing to sue for economic injuries suffered from predatory lending, the Supreme Court rejected the Eleventh Circuit’s more lenient causation standard, favoring proof of “some direct relation between the injury asserted and the injurious conduct alleged.” Doubtless the result could have been worse for cities suing on the premise that racially discriminatory lending caused municipal blight. The courthouse doors could have closed if the ...
Brief Of Amici Curiae Finance Regulation Scholars In Support Of Plaintiff's Motion For A Preliminary Injunction In English V. Trump, Patricia A. Mccoy
Patricia A. McCoy
Professor McCoy was the lead author of an amicus brief in support of the lawsuit by CFPB Deputy Director Leandra English against the Trump Administration, asserting that she lawfully became the Acting Director of the Consumer Financial Protection Bureau under the Dodd-Frank Act.
Making Innovation More Competitive: The Case Of Fintech, 2018 Boston University School of Law
Making Innovation More Competitive: The Case Of Fintech, Rory Van Loo
Finance startups are offering automated advice, touchless payments, and other products that could bring great societal benefits, including lower prices and expanded access to credit. Yet unlike in other digital arenas in which American companies were global leaders, such as search engines and ride hailing, the U.S. has lagged in consumer finance. This Article posits that the current competition framework is holding back consumer financial innovation. It then identifies a contributor that has yet to be articulated: the organizational design of administrative agencies. Competition authority—including antitrust and the extension of business licenses—is spread across at least five ...
The Path Towards Defining “Investment” In Icsid Investor-State Arbitrations: The Open-Ended Approach, 2018 Pepperdine University
The Path Towards Defining “Investment” In Icsid Investor-State Arbitrations: The Open-Ended Approach, Melissa María Valdez García
Pepperdine Dispute Resolution Law Journal
Article 25 of the International Convention on the Settlement of Investment Disputes left the notion of “investment” intentionally undefined, thus leaving its interpretation in the hands of arbitration tribunals, which has led to inconsistencies, confusion and debate regarding the true essence of what may appear as a routine concept. This article tries to explain that the proper meaning of “investment” under the Convention must be clarified not only by discussing the drafting history of the Convention, but by also examining doctrinal tendencies, key aspects of corresponding arbitration awards and customary international law and argues that arbitration tribunals should show strong ...
Hb 192 - Banking And Finance, 2018 Georgia State University College of Law
Hb 192 - Banking And Finance, Caroline G. Mayson, Jesse C. Moore
Georgia State University Law Review
The Act changes the provisions relating to the responsibilities and standard of care for directors and officers of banks, trust companies, and corporations. The Act codifies the business judgment rule. The operative liability standard for directors and officers is gross negligence, as opposed to simple negligence, and directors and officers may rely on other individuals in the performance of their duties. A rebuttable presumption exists that directors and officers act in good faith.
Models As Weapons: Review Of Weapons Of Math Destruction: How Big Data Increases Inequality And Threatens Democracy By Cathy O’Neil (2016), Samuel L. Tunstall
Cathy O’Neil. 2016. Weapons of Math Destruction: How Big Data Increases Inequality and Threatens Democracy (New York, NY: Crown) 272 pp. ISBN 978-0553418811.
Accessible to a wide readership, Cathy O’Neil’s Weapons of Math Destruction: How Big Data Increases Inequality and Threatens Democracy provides a lucid yet alarming account of the extensive reach of mathematical models in influencing all of our lives. With a particular eye towards social justice, O’Neil not only warns modelers to be cognizant of the effects of their work on real people—especially vulnerable groups who have less power to fight back—but ...
Bright Lines: How Regulatory Asset Thresholds Change The Banking Industry, 2018 University of Pennsylvania
Bright Lines: How Regulatory Asset Thresholds Change The Banking Industry, Allison Nicoletti, Michael Iselin, Hailey Ballew
Penn Wharton Public Policy Initiative
One of the key features of the Dodd-Frank Act is that it imposes specific and costly regulatory requirements on banks that cross the threshold of having more than $10 billion in total assets. Anecdotal accounts have suggested that this threshold has led to increased consolidation in the banking industry. This brief provides new statistical evidence of that phenomenon. Banks that approach the $10 billion threshold are significantly more likely to engage in an acquisition, pay more for that acquisition, and acquire bigger target banks than similar banking institutions did prior to Dodd-Frank. To the extent that policymakers are concerned with ...
A Bridge Over Troubled Waters - Resolving Bank Financial Distress In Canada, 2018 Allard School of Law at the University of British Columbia
A Bridge Over Troubled Waters - Resolving Bank Financial Distress In Canada, Janis P. Sarra
Effective June 2017, Canada formalized its new resolution regime for “domestic systemically important banks”. This article examines the new resolution regime in the context of the early intervention program by the financial services regulator. The system offers a complex but integrated set of mechanisms to monitor the financial health of financial institutions, to intervene at an early stage of financial distress, and to resolve the financially distressed bank in a timely manner. Resolution is the restructuring of a financially distressed or insolvent bank by a designated authority. To “resolve” a bank is to use a series of tools under banking ...
Regulating Robo Advice Across The Financial Services Industry, 2018 University of Pennsylvania Law School
Regulating Robo Advice Across The Financial Services Industry, Tom Baker, Benedict G. C. Dellaert
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 ...
Horizontal Shareholding And Antitrust Policy, 2018 Yale University
Horizontal Shareholding And Antitrust Policy, Fiona M. Scott Morton, Herbert J. Hovenkamp
“Horizontal shareholding” occurs when one or more equity funds own shares of competitors operating in a concentrated product market. For example, the four largest mutual fund companies might be large shareholders of all the major United States air carriers. A growing body of empirical literature concludes that under these conditions market output in the product market is lower and prices higher than they would otherwise be.
Here we consider how the antitrust laws might be applied to this practice, identifying the issues that courts are likely to encounter and attempting to anticipate litigation problems. We assume that neither the mutual ...
Merchant Authorized Consumer Cash Substitutes, 2018 Maurice A. Deane School of Law at Hofstra University
Merchant Authorized Consumer Cash Substitutes, Steven Stites, Norman I. Silber
Hofstra Law Faculty Scholarship
Merchant Authorized Consumer Cash Substitutes (MACCS) have existed in one form or another for hundreds of years although without a generic name. At nineteenth century American railroad construction sites far from established towns, companies paid employees with “scrip.” Coca Cola, beginning in 1887 issued “coupons” which entitled bearers to a glass of soda. About the same time the Standard Oil Company—a customer—demanded “rebates” from railroads who shipped its oil. Descendants of these merchant-created substitutes are the MACCS of today-- phenomena including today’s “Penny-Saver Coupons,” “Groupons,” “Gift Cards,” “Disney Dollars,” “E-bates,” “Air Miles,” “Rewards Points,” and “cash-back offers ...
The Hausmann-Gorky Effect, 2018 Duke Law School
The Hausmann-Gorky Effect, Mitu Gulati, Ugo Panizza
For over a century, legal scholars have debated the question of what to do about the debts incurred by despotic governments; asking whether successor non-despotic governments should have to pay them. That debate has gone nowhere. This paper examines whether an Op Ed written by Harvard economist, Ricardo Hausmann, in May 2017, may have shown an alternative path to the goal of increasing the cost of borrowing for despotic governments. Hausmann, in his Op Ed, had sought to produce a pricing penalty on the entire Venezuelan debt stock by trying to shame JPMorgan into removing Venezuelan bonds from its emerging ...
Getting Local Governments Where They Need To Go Without Taking Taxpayers For A Ride: "Cabs," Why They Are Used, And What Can Be Done To Prevent Their Misuse, Heather G. White
St. Mary's Law Journal
New Art For The People: Art Funds & Financial Technology, 2018 University of Kentucky College of Law
New Art For The People: Art Funds & Financial Technology, Brian L. Frye
Law Faculty Scholarly Articles
Wealthy people have invested in art since time immemorial. But the modem art market emerged only in the late nineteenth century, as private wealth gradually spread to the bourgeoisie. As the art market grew and the most desirable artworks became extremely valuable, individuals and institutions began to form "art funds" to invest in this promising new asset class. In 1904, a group of Parisian art collectors formed La Peau d'Ours, the first private art investment club. Between 1974 and 1980, the British Rail Pension Fund invested £40 million in art. And in the 2000s, many private investment companies created ...
Fintech's Double Edges, 2018 University of Kentucky College of Law
Fintech's Double Edges, Christopher G. Bradley
Law Faculty Scholarly Articles
The pace of change in financial technologies has quickened due to the rapid advances in technology from the late 1990s through today, exemplified by the advance of handheld devices and applications and the pervasiveness of the Internet in every facet of commerce. New financial technologies--commonly identified by the portmanteau "FinTech" or "fmtech"--have already reshaped many commercial practices that affect businesses and consumers, and they are likely to change many more.
The increasing availability and sophistication of FinTech offers both promises and perils. Artificial intelligence-driven algorithms purport to improve access to credit on "objective" criteria but may sometimes reinforce longstanding ...
Exploring Banks' Duty Of Care Towards Non-Customers In U.C.C. Article 3 & 4, 2018 Indiana University Maurer School of Law
Exploring Banks' Duty Of Care Towards Non-Customers In U.C.C. Article 3 & 4, Anis A. Houssein
Theses and Dissertations
This Thesis analyzes the bank transaction regarding cashing or accepting for deposit instruments over forged or unauthorized indorsements. Also, it investigates the development of conversion of instruments through the years and the courts’ contribution to the development. It examines the U.C.C. former section 3-419 and the courts’ reaction to the defense afforded to banks against an allegation of conversion and examines as well the current 3-420 and the reasons that led to the amendment. Besides all that, this Thesis discusses the banks’ defenses regarding Impostors and Fictitious Payees under § 3-404, Employer’s responsibility for fraudulent indorsement by his ...
Dorothy Moser Medlin Papers - Accession 1049, 2018 Winthrop University
Dorothy Moser Medlin Papers - Accession 1049, Dorothy Moser Medlin
(The Dorothy Moser Medlin Papers are currently in processing.)
This collection contains most of the records of Dorothy Medlin’s work and correspondence and also includes reference materials, notes, microfilm, photographic negatives related both to her professional and personal life. Additions include a FLES Handbook, co-authored by Dorothy Medlin and a decorative mirror belonging to Dorothy Medlin.
Major series in this collection include: some original 18th century writings and ephemera and primary source material of André Morellet, extensive collection of secondary material on André Morellet's writings and translations, Winthrop related files, literary manuscripts and notes by Dorothy Medlin (1966-2011 ...
The Impact Of Regulatory Measures Imposed On Initial Coin Offerings In The United States Market Economy, 2018 Catholic University of America Columbus School of Law
The Impact Of Regulatory Measures Imposed On Initial Coin Offerings In The United States Market Economy, Joseph D. Moran
Catholic University Journal of Law and Technology
With the surge of technological advances across the financial market landscape, companies have implemented new ways of raising money that have sparked controversy among investors, legal practitioners, banks, and government regulators. This comment examines the technology behind Initial Coin Offerings (ICOs), and discusses the impact they have had on financial markets in the United States and across the globe. This comment also addresses the legal ramifications for companies issuing ICOs, and delves into the benefits of using blockchain technology as a means for transferring digital currencies and making business transactions. This comment further gives examples of current and potential regulations ...
Whistling Loud And Clear: Applying Chevron To Subsection 21f Of Dodd–Frank, 2018 Washington and Lee University School of Law
Whistling Loud And Clear: Applying Chevron To Subsection 21f Of Dodd–Frank, Shaun M. Bennett
Washington and Lee Law Review
No abstract provided.
Canons Of Construction For Dysfunctional Statutes: A Comment On Bennett, 2018 University of Virginia School of Law
Canons Of Construction For Dysfunctional Statutes: A Comment On Bennett, Paul G. Mahoney
Washington and Lee Law Review
No abstract provided.