Tax Compliance In A Decentralizing Economy, 2018 University of California Hastings College of Law
Tax Compliance In A Decentralizing Economy, Manoj Viswanathan
Georgia State University Law Review
Tax compliance in the United States has long relied on information from centralized intermediaries—the financial institutions,employers, and brokers that help ensure income is reported and taxes are paid. Yet while the IRS remains tied to these centralized entities,consumers and businesses are not. New technologies, such as sharing economy platforms (companies such as Airbnb, Uber, and Instacart)and the blockchain (the platform on which various cryptocurrencies are based) are providing new, decentralized options for exchanging goods and services.
Without legislative and agency intervention, these technologies pose a critical threat to the reporting system underlying domestic and international tax ...
What I Learned Trading Cryptocurrencies While Studying The Law, 2018 University of Miami Law School
What I Learned Trading Cryptocurrencies While Studying The Law, Joshua S. Morgan
University of Miami International and Comparative Law Review
No abstract provided.
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 Consumer Financial Regulation Scholars In Support Of Plaintiff-Appellant, English V. Trump, No. 18-5007 (D.C. Cir.), Patricia A. Mccoy
Boston College Law School Faculty Papers
No abstract provided.
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 ...
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 ...
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 ...
Opacity, Fragility, & Power: Lessons From The Law Enforcement Response To The Financial Crisis, 2018 Brooklyn Law School
Opacity, Fragility, & Power: Lessons From The Law Enforcement Response To The Financial Crisis, Gregory M. Gilchrist
Brooklyn Law Review
Review of Mary Kreiner Ramirez and Steven A. Ramirez, THE CARE FOR THE CORPORATE DEATH PENALTY: RESTORING LAW AND ORDER ON WALL STREET (New York 2017) The Case for the Corporate Death Penalty, by Mary Kreiner Ramirez and Steven A. Ramirez, argues that the limited law enforcement response to the 2008 financial crisis represented an unprecedented failure of the rule of law. It further maintains that the weak response by law enforcement was caused by the economic and political power of the largest financial institutions and those who run them. It concludes that the failure to vigorously prosecute the people ...
Regulating The “Too Big To Jail” Financial Institutions, 2018 Brooklyn Law School
Regulating The “Too Big To Jail” Financial Institutions, Jerry W. Markham
Brooklyn Law Review
This article addresses the “too big to jail” regulatory model in which large banks pay hundreds of billions of dollars to settle multiple and duplicative regulatory charges brought by a horde of state, federal, and even foreign regulators. The banks pay those massive settlements in order to keep their banking charters and to obtain immunity from prosecution for senior executives. In turn, regulators benefit from the headlines these fines generate. Much criticism has been directed at these settlements because the banks are allowed to continue business as usual and no senior executives are jailed. Other critics contend that these settlements ...
The Rise Of Automated Investment Advice: Can Robo-Advisers Rescue The Retail Market?, 2018 University of Nevada, Las Vegas -- William S. Boyd School of Law
The Rise Of Automated Investment Advice: Can Robo-Advisers Rescue The Retail Market?, Benjamin P. Edwards
Consumer interest in automated investment advice continues to grow. One informed observer recently predicted that automated investment advisers may manage $2 trillion in assets by 2020.Today, the two largest automated investment advice providers now manage approximately seventeen billion in assets while continuing to expand their capabilities. This rise of automated investment advice firms may disrupt and improve the market for investment advice and finally allow modem technology to make financial intermediation more efficient. For a variety of reasons, costs in the sector have remained abnormally high. One study found that "the unit cost of intermediation is about as high ...
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
Banking In The Digital Age - Who Is Afraid Of Payment Disintermediation?, 2018 Osgoode Hall Law School of York University
Banking In The Digital Age - Who Is Afraid Of Payment Disintermediation?, 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 ...
Transforming Usury Into Finance: Financialization And The Ethics Of Debt, 2018 Iowa State University
Transforming Usury Into Finance: Financialization And The Ethics Of Debt, Kate Padgett-Walsh
Philosophy and Religious Studies Publications
This article examines the conceptual transformation of what was once considered usury into finance. To counter traditional arguments that usury was exploitative and unnatural, early modern theorists reconceptualized debt as a form of investment for both borrowers and lenders. Today, this ethical justification of debt as an investment underlies the rhetoric of finance and financialization. Close examination of the realities of contemporary financialized debt, however, reveal that much of this rhetoric is misleading and false. While the rhetoric of finance is unrelentingly oriented toward the future, the lived reality of debt is one of being constrained and haunted by the ...