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Articles 1 - 25 of 25
Full-Text Articles in Law
Lending Discrimination: Economic Theory, Econometric Evidence, And The Community Reinvestment Act, Keith N. Hylton, Vincent D. Rougeau
Lending Discrimination: Economic Theory, Econometric Evidence, And The Community Reinvestment Act, Keith N. Hylton, Vincent D. Rougeau
Faculty Scholarship
Although it has been settled law for almost two decades, there has been a heightened interest in the Community Reinvestment Act (CRA) over the last several years. One factor driving this interest is the continuing economic decline of the inner cities and the consequent widening of the wealth gap between cities and surrounding suburbs in many areas of the country. A second factor is the consolidation of the banking industry, which has encouraged expansion-oriented banks to improve their CRA ratings to gain the approval of regulators. A recent effort to enhance enforcement of the statute, in part the result of …
Applying Equilibrium And The Ficas Model: A Case Study Of Capital Adequacy And Currency Trading, Raj Bhala
Applying Equilibrium And The Ficas Model: A Case Study Of Capital Adequacy And Currency Trading, Raj Bhala
Faculty Publications
No abstract provided.
The Thrift Crisis And The Constitution, Stanley I. Langbein
The Thrift Crisis And The Constitution, Stanley I. Langbein
Articles
No abstract provided.
The Importance Of Being Honset - Lessons From An Era Of Large-Scale Financial Fraud, Anita Ramasastry, Thomas C. Baxter
The Importance Of Being Honset - Lessons From An Era Of Large-Scale Financial Fraud, Anita Ramasastry, Thomas C. Baxter
Articles
In recent years, we have seen a series of staggering losses sustained by large multinational banking organizations. The Daiwa Bank ("Daiwa"), Barings Bank ("Barings") and the Bank of Credit and Commerce International ("BCCI") are three prominent examples. Each of these institutions suffered losses in excess of $1 billion through unauthorized, fraudulent or unlawful conduct by management. In each of these institutions, there existed a key bank official who broke through what might be considered a billion dollar barrier. At Daiwa Bank's New York Branch, there was Toshihbe Iguchi, its Senior Vice President and bond trader. Barings Bank had Nick Leeson, …
International Payments And Five Foundations Of Wire-Transfer Law, Raj Bhala
International Payments And Five Foundations Of Wire-Transfer Law, Raj Bhala
Faculty Publications
No abstract provided.
See No Evil - The Role Of The Directed Trustee Under Erisa, Patricia W. Moore
See No Evil - The Role Of The Directed Trustee Under Erisa, Patricia W. Moore
Faculty Articles
Just before ERISA's passage, Congress added a provision allowing a sponsoring employer to use a "named fiduciary" – usually one or more of the employer's officers – to direct the trustee. In that case, the trustee is to "be subject to proper directions of such fiduciary which are made in accordance with the terms of the plan and which are not contrary to this Act." Such a trustee is commonly called a "directed trustee."
After ERISA became law, commentators immediately observed that section 403(a)(1) generated more questions than answers. For instance, is a directed trustee a "fiduciary" at all? Does …
Rethinking The Role Of Recourse In The Sale Of Financial Assets, Steven L. Schwarcz, Peter V. Pantaleo
Rethinking The Role Of Recourse In The Sale Of Financial Assets, Steven L. Schwarcz, Peter V. Pantaleo
Faculty Scholarship
The presence of recourse in the sale of a financial asset is generally thought to jeopardize the "true sale" treatment of the sale, especially in the event of the seller's bankruptcy. This article examines the existing law and concludes that a transfer that qualifies as a sale under state law should be treated as a sale even if the buyer retains recourse to the seller, so long as recourse is limited to warranting that the asset will perform in accordance with its terms.
Analysis Of The U.S. Regulations Of Derivatives: Does The Use Of Such Complicated Instruments Pose A Serious Threat To The Safety And Soundness Of The U.S. Banking System?, Erwin De Deyn
LLM Theses and Essays
In the last fifteen years, the globalization of financial markets and institutions along with innovative investment strategies have caused an irreversible revolution in the world’s financial markets. Investors and managers can now use new instruments, such as derivatives, for guarding against financial risks. Derivatives are financial instruments whose returns are derived from other assets or variables, like futures and options. The growth of derivative markets has accelerated rapidly in the last ten years, which has caused financial markets in the United States and throughout the world to be more efficient, which contributes to economic welfare. However, the dramatic growth in …
The New Community Reinvestment Act Regulations: An Attempt To Implement Performance-Based Standards, Richard D. Marsico
The New Community Reinvestment Act Regulations: An Attempt To Implement Performance-Based Standards, Richard D. Marsico
Articles & Chapters
On May 4, 1995, the federal banking regulatory agencies published new Community Reinvestment Act (CRA) regulations.' This culminated a process that began nearly two years earlier, in July 1993, when President Clinton called on the agencies to reform the CRA enforcement regime. The goal was to institute a regulatory scheme that emphasized lending performance over process, that was more objective and less subject to arbitrary interpretation, and that reduced unnecessary paperwork.2 With this presidential mandate, the agencies commenced a 21-month odyssey that included seven hearings around the country with more than 250 witnesses, two sets of proposed revisions to the …
Directorial Fiduciary Duties In A Tracking Stock Equity Structure: The Need For A Duty Of Fairness, Jeffrey J. Haas
Directorial Fiduciary Duties In A Tracking Stock Equity Structure: The Need For A Duty Of Fairness, Jeffrey J. Haas
Articles & Chapters
No abstract provided.
Amazon Burning And The World Bank: Lessons From The Second World Bank Inspection Panel Claim, David Hunter
Amazon Burning And The World Bank: Lessons From The Second World Bank Inspection Panel Claim, David Hunter
Articles in Law Reviews & Other Academic Journals
No abstract provided.
Consumer Protection For Latinos: Overcoming Language Fraud And English Only In The Marketplace, Steven W. Bender
Consumer Protection For Latinos: Overcoming Language Fraud And English Only In The Marketplace, Steven W. Bender
Faculty Articles
Non-English-speaking consumers deserve the same protection as other consumers, and thus, this article advocates guarantees for their ability to strike informed bargains. To safeguard consumers most vulnerable to unfair and deceptive trade practices, this article contemplates a comprehensive strategy of reform that involves the legislatures, administrative agencies, and courts, as well as nonprofit organizations that advocate for language minorities and merchants themselves. Part I examines the growth in numbers of monolingual Latino/a consumers and documents their experience in the American marketplace. Part I also explores the shortcomings of existing remedies under the common law and consumer protection regulation when applied …
The World Bank, The Imf, And Human Rights, Daniel D. Bradlow
The World Bank, The Imf, And Human Rights, Daniel D. Bradlow
Articles in Law Reviews & Other Academic Journals
This paper explores the type of human rights obligations of the World Bank and the IMF. It argues that their human rights obligations can be divided into two sets of issues. First is operational issues, which relate to both the promotion and protection of human rights. Second is institutional issues, which deal with the internal rules and procedures of the World Bank and the IMF. The paper concludes that these organizations need to develop a coherent and explicit human rights policy.
Recent Challenges To The Persistent Dual Banking System, Heidi Mandanis Schooner
Recent Challenges To The Persistent Dual Banking System, Heidi Mandanis Schooner
Scholarly Articles
This essay begins with a brief discussion of the history of the dual banking system in Part I. Part II reviews the justifications for, and criticisms of, the dual banking system. Part III details the recent challenges to the dual banking system. Part IV looks to the future of the dual banking system and concludes that Congress has chosen not to preempt entirely the states' authority despite the continued erosion of states' authority over safety and soundness issues. This leaves the states with a continuing opportunity to serve as laboratories of innovation in bank regulation. If the states seize this …
Who Determines When Enough Is Enough - Refocusing Regulatory Limitations On Banks’ Compensation Practices, Heidi Mandanis Schooner
Who Determines When Enough Is Enough - Refocusing Regulatory Limitations On Banks’ Compensation Practices, Heidi Mandanis Schooner
Scholarly Articles
This article examines the banking agencies' authority-both old and new-to regulate banks' compensation practices. The article considers whether the agencies' implementation of their statutory authority is appropriate. In evaluating the appropriateness of regulation in this area, the regulators' mandate to preserve the safety and soundness of banks is balanced against the banks' need to compete in an increasingly competitive marketplace.' 9 Also, the banking agencies' activities in this area are viewed against the backdrop of considerable legal and management scholarship addressing issues of compensation. Parts I, II and III of the article address the sources of the agencies' authority to …
Effect Of Regulation On Banking: California 1879-1929, Lynne Doti, Richard Runyon
Effect Of Regulation On Banking: California 1879-1929, Lynne Doti, Richard Runyon
Economics Faculty Articles and Research
California had a virtually unregulated banking environment until the first comprehensive banking regulations were passed in 1905. These regulations, and subsequent changes in 1909, required reserves and paid-up capital. Several tests of commonly accepted measures of safety, such as bank reserves, paid-up capital, bank failures, and real estate loans that resulted in foreclosure, are compared for selected years before and after the regulations. Results do not clearly demonstrate that regulation enhanced the safety of individual banks, but do support the conclusion that regulation enhanced the safety of the banking system as a whole.
A Reliance Damages Approach To Corporate Lockups, David A. Skeel Jr.
A Reliance Damages Approach To Corporate Lockups, David A. Skeel Jr.
All Faculty Scholarship
No abstract provided.
A Call For International Legal Standards For Emerging Retail Electronic Payment Systems, Sarah Jane Hughes
A Call For International Legal Standards For Emerging Retail Electronic Payment Systems, Sarah Jane Hughes
Articles by Maurer Faculty
No abstract provided.
Constructing A New Theoretical Framework For Home Improvement Financing, Julia Patterson Forrester Rogers
Constructing A New Theoretical Framework For Home Improvement Financing, Julia Patterson Forrester Rogers
Faculty Journal Articles and Book Chapters
In this Article, I advocate modification of the law governing home improvement financing. In section I, I discuss the prevalence of home improvement scams, the dual system of home improvement financing available to affluent and poor homeowners, and the social cost of home improvement scams. Despite attempts by lawmakers to protect homeowners from unscrupulous home improvement contractors and lenders, home improvement scams remain a significant consumer problem. Most victims of such scams are poor, minority, and elderly homeowners. These homeowners obtain home improvements and home improvement financing through a system with tremendous potential for abuse. In this system, contractors and …
Whither Truth In Lending?, Ralph J. Rohner
America's Shifting Fascination With Comparative Corporate Governance, Edward B. Rock
America's Shifting Fascination With Comparative Corporate Governance, Edward B. Rock
All Faculty Scholarship
No abstract provided.
A Test Case For The World Bank, Daniel D. Bradlow
A Test Case For The World Bank, Daniel D. Bradlow
Articles in Law Reviews & Other Academic Journals
No abstract provided.
The Legal Environment Of International Finance: Thinking About Fundamentals, Merritt B. Fox
The Legal Environment Of International Finance: Thinking About Fundamentals, Merritt B. Fox
Faculty Scholarship
The huge increase in cross border capital flows over the last two decades has profoundly important implications for society in general and the law in particular. These flows give rise to a set of legal problems that are sufficiently distinct and coherent to constitute a legal field of their own. Confirming this observation is the development of a specialized legal practice whose members spend the bulk of their time working on such transactions. Nevertheless, a law school course in international finance is a rarity, even at the schools that train most of the students who ultimately join this practice.
The …
American Bar Association Section Of International Law And Practice Standing Committee On World Order Under Law Report To The House Of Delegates: International Monetary Fund And The World Bank Group, Michael A. Heller, H. Francis Shattuck Jr.
American Bar Association Section Of International Law And Practice Standing Committee On World Order Under Law Report To The House Of Delegates: International Monetary Fund And The World Bank Group, Michael A. Heller, H. Francis Shattuck Jr.
Articles
The International Monetary Fund (IMF) and the World Bank Group are the subjects of this report. The report, with its accompanying recommendation, is one of several reports on selected United Nations specialized agencies and the International Atomic Energy Agency. The report has been developed by the Section of International Law and Practice, International Institutions Committee, through its Working Group on UN Specialized Agencies. This is a contribution to the 50th Anniversary of the United Nations in fulfillment of the American Bar Association's Goal VIII-to advance the rule of law in the world. The accompanying recommendation addresses issues of an enhanced …
Letters Of Credit: Highlights Of Revised Article 5, Edwin E. Smith, James J. White
Letters Of Credit: Highlights Of Revised Article 5, Edwin E. Smith, James J. White
Other Publications
1. Under what circumstances is it bad faith for an issuer to honor a letter of credit in the face of an applicant's offer of proof of fraud by the beneficiary? 2. What is the issuer's obligation where there is a waiver by the applicant that the issue chooses not to honor? 3. What are the rights of transferees of transferable letters of credit and assigness of proceeds?