Law Commons^™

Note: City Of Oakland V. Wells Fargo Co.: Examining The Proximate Cause Standard Under The Fair Housing Act, Ava Lau-Silveira

Golden Gate University Law Review

The Financial Services Modernization Act of 1999 partially deregulated the financial industry under the premise of helping “everyone attain the American dream of home ownership.” In 1999, the “Fannie Mae” made subprime mortgage loans readily accessible to those who normally would not qualify. People in Oakland, who “used to find it difficult to obtain mortgages,” were suddenly able to obtain mortgage loans, but with subprime terms, which started with low monthly payments, but would increase based on changes in the market interest rates. By 2008, subprime borrowers began defaulting on their loans at an unprecedented rate.

During the 2008 mortgage …

Wells Fargo V. City Of Oakland: A Matter Of Proximate Cause, Shawna Doughman

Golden Gate University Law Review

President Lyndon B. Johnson saw passage of the Fair Housing Act (“FHA”) to be a fitting tribute to the Reverend Dr. Martin Luther King, Jr., who had just been assassinated. The United States was in turmoil, much as it is today, with cities burning and people divided. The FHA was first introduced by Democratic senator Walter Mondale. The lobbying efforts of Republican senator Edward Brooke, the first Black senator to be elected by popular vote, and Democratic senator Edward Kennedy finally brought this legislation to fruition as Title VIII of the Civil Rights Act of 1968. Senator Mondale remarked, “in …

How To Regulate Blockchain’S Real-Life Applications: Lessons From The California Blockchain Working Group, Michele Benedetto Neitz

Publications

How should legislators write a law regulating a brand-new technology that they may not yet fully understand? With the advent of blockchain and other advanced computational technologies, this generation of legislators faces more complex questions than their predecessors. Drawing on the author’s experience as a member of California’s Blockchain Work-ing Group, this Article offers guidance to lawmakers, lawyers, and industry leaders seek-ing to draft effective laws regulating real-life applications of blockchain technology. This cutting-edge Article will do two things for its readers: (1) encourage them to be informed participants in conversations relating to federal and state blockchain regulation, and (2) …

Ethical Considerations Of Blockchain: Do We Need A Blockchain Code Of Conduct?, Michele Benedetto Neitz

Publications

As states begin to adopt regulations governing cryptocurrencies and other uses of blockchain technology, it is becoming clear that the libertarian ideal of blockchain was just that – an ideal. There are already examples in which human decision-making has counteracted the immutability of some blockchains. In short, there appears to be a movement toward centralization within this decentralized technology.

The Future Is Mobile: Financial Inclusion And Technological Innovation In The Emerging World, Eleanor Lumsden

Publications

The digital revolution is in full bloom and technology is being used to solve the world’s most challenging problems, yet traditional banking excludes many of the world’s poorest from taking advantage of the full fruits of the financial system. Especially in developing countries, implementing mobile financial systems can speed financial inclusion and spur economic growth. There is space for regulatory reform that addresses concerns with data security and consumer privacy yet does not stifle innovation. Throughout history, resistance to innovation has generally proved futile, and countries that refuse to change risk missing opportunities.

2015-2016 Summary Of Legislation, Assembly Committee On Banking And Finance

California Agencies

No abstract provided.

Usury And Loan Transfers, Roger Bernhardt, Alex Volkov

Publications

This Article is primarily concerned with the effect of transferring a mortgage loan from its originating loan broker to a group of small investors when that loan was at its inception usurious. However, because the rules applicable to that situation are not confined to mortgage law, we begin with a general explanation of usury rules before dealing with the particular real estate loan transaction mentioned.

The Fallout Of Too Big For Trial: Advocating Control Person Liability, Tudor Jones

Golden Gate University Law Review

The Subprime Mortgage Crisis of 2008 (Subprime Crisis or Crisis) caused an unprecedented worldwide recession. Between 2007 and 2010, the global financial services sector lost 325,000 jobs. In the United States, consumer household net worth decreased by $11 trillion. Meanwhile, C-level executives (hereafter, executives or corporate officers) from sixteen of the firms most closely associated with the Subprime Crisis were eligible to receive golden parachute payments approaching $1 billion if their firms’ failures had resulted in their terminations. Because of the government bailout program, that money would have been indirectly funded by United States taxpayers.

The Subprime Crisis presented the …

The Place Of Treaties In International Investment, Eustace Chikere Azubuike

Annual Survey of International & Comparative Law

This paper is divided into seven parts. Part 1 traces the history of foreign investment treaties and provides the factors that led to the emergence of the current investment regime. Part 2 discusses the significance of treaties in the vexed question of whether or not there is a hierarchy of international law sources. Part 3 examines treaty-making in the current international investment regime – visiting the argument about whether or not the provisions of investment treaties have ripened into customary international law, highlighting the dominance of bilateral investment treaties over multilateral investment treaties, offering explanation for the near absence of …

Maya V. Centex: Potential Liabilities For Developers Related To Speculative Injuries, Alexander Cheung

Golden Gate University Law Review

The Ninth Circuit’s decision in Maya v. Centex addresses the impacts of the sub-prime mortgage crisis on fiscally responsible homeowners. Maya is the first appellate decision to potentially permit homeowners to assert claims against developers for injuries related to market-wide decline in property values. In Maya, the Ninth Circuit decided only the narrow question of whether plaintiff-homeowners have constitutional standing to pursue claims against defendant-developers for injuries that were allegedly caused by the defendants’ high-risk marketing and financing behaviors. Although the Ninth Circuit did not resolve the plaintiffs’ claims, it held that the plaintiffs have constitutional standing to assert …

The New Lex Mercatoria, Francesco Galgano

Annual Survey of International & Comparative Law

We live in a post-industrial era. We learn this from sociologists who demonstrate it by showing the index of the number of industrial employees is lower than that of service employees, thus, a transition from an industrial to a post-industrial era. The United States was the first to pass this point in 1956, while Italy passed it in 1982. Post-industrial society is not just a society of automation. The prefix "post" implies other aspects as well. Besides an industrial society there is also a financial society. What is new is not only how the goods are produced (with machines controlled …

Newly Registered Securities And Accountants' Liability To Third Party Investors Under The Federal Securities Law, Timothy J. Murphy

Golden Gate University Law Review

No abstract provided.

Consumer Credit Reporting: The California Experience, Eugene R. Oreck

Golden Gate University Law Review

No abstract provided.

The Evolving And Challenging Roles Of Certain International Financial Institutions In Developing Countries Under International Law With Particular Reference To Nigeria, South Korea, And Brazil, Sunday C. Ogbodo

Theses and Dissertations

It is no secret that the developing countries and their fragile economies have been struggling all the way from the twentieth (20th) century into the twenty first (21 st) century. It is equally known that the roles of the International Financial Institutions (IFIs) have been evolving partly as a result of their internal developments, and partly as a result of external developments occurring in the international environment that they operate in. It is the realization of the foregoing, and with hopes of finding ways that the IFIs can positively impact the developing countries in their quest for sustained development, that …

A Just New World Order In The Global Finance, Insop Pak

Theses and Dissertations

This study attempts to address that in search of a just new world order in the global finance what should be the proper national, regional, and international responses to the global financial integration. At first glance, it analyzes the globalization of finance. The impact of globalization on state sovereignty is also demonstrated. In this regard, this study seeks to reconceptualize the traditional notion of state sovereignty. Here it highlights the increased interaction and interdependence between states and non-state actors in the global economy. Then, this study moves on to the anatomy of the dynamics of global governance through government networks- …

Bank Of America National Trust & Savings Ass'n V. 203 North Lasalle Street Partnership: A Different Interpretation, Karen Gebbia

Publications

The story of 203 North LaSalle Street is archetypical of real estate investments. A real estate investment partnership that had no other significant assets owned a substantial part of the 203 North LaSalle Street building, just as thousands of other real estate partnerships own thousands of other downtown office buildings across the United States. Like hundreds of other single asset real estate partnerships, the 203 North LaSalle Street Partnership fell upon financial hard times and filed a chapter 11 reorganization case to prevent the mortgagee from foreclosing on the building. As in many such cases, the financially decimated partners sought …

A Compilation Of Testimony And Exhibits Of The Subject Of Lincoln Savings And Loan, Volume I, Assembly Committee On Finance And Insurance

California Assembly

No abstract provided.

Lincoln Savings And Loan, Volume Iii, Assembly Committee On Finance And Insurance

California Assembly

A COMPILATION OF TESTIMONY AND EXHIBITS ON THE SUBJECT OF LINCOLN SAVINGS AND LOAN: for hearings held by the ASSEMBLY FINANCE AND INSURANCE SUBCOMMITTEE ON SAVINGS AND LOAN LAW AND REGULATION. PATRICK JOHNSTON, CHAIRMAN

August 31, 1989
November 29, 1989
December 20, 1989
Volume III

Lincoln Savings And Loan, Volume Ii, Assembly Committee On Finance And Insurance

California Assembly

A COMPILATION OF TESTIMONY AND EXHIBITS ON THE SUBJECT OF LINCOLN SAVINGS AND LOAN: for hearings held by the ASSEMBLY FINANCE AND INSURANCE SUBCOMMITTEE ON SAVINGS AND LOAN LAW AND REGULATION. PATRICK JOHNSTON, CHAIRMAN

August 31, 1989
November 29, 1989
December 20, 1989
Volume II

Review Of The Department Of Corporations, Insurance And Justice Responsibilities In Conversion Of Public Benefit Corporations From Nonprofit To Profit Status, Assembly Committee On Finance And Insurance

California Assembly

INTERIM HEARING: Review of Departments of Corporations, Insurance and Justice responsibilities in conversion of public benefit corporation from nonprofit to for-profit status: Case Study -- FHP, Inc. and Foundation Health Plan conversions and involvement of additional health plans.

Public Hearing On Banks And Savings And Loan Associations: Service Charges, Senate Committee On Banking And Commerce

California Senate

No abstract provided.

Interim Hearing On The Subject Of Assembly Bill 2094 (Floyd), Assembly Committee On Finance And Insurance

California Assembly

ASSEMBLY BILL 2094 (Floyd): Bank holding companies interstate banking, total, regional or selected states.

Public Hearing On Creative Financing, Assembly Committee On Finance And Insurance

California Assembly

No abstract provided.

Transcript Of Hearing On Retail Installment Accounts - Maximum Finance Charge, Rate Of Charge, Assembly Finance And Insurance Committee

California Assembly

MEMBERS:

Honorable Wadie Deddeh, Chairman
Honorable John Francis Foran, Vice-Chairman
Honorable Mike Antonovich
Honorable Robert Beverly
Honorable John Briggs
Honorable Peter Chacon
Honorable Robert Cline
Honorable Mike Cullen
Honorable Jack Fenton
Honorable Leroy F. Greene
Honorable Richard Hayden
Honorable John Knox
Honorable Ernest Mobley
Honorable Walter Powers
Honorable Paul Priolo
Honorable Leon Ralph
Honorable Newton Russell
Honorable Henry Waxman
Honorable Bob Wilson

Klett V. Security Acceptance Co. [Dissent], Jesse W. Carter

Jesse Carter Opinions

Discount sales offered to a finance company as part of the security given by a businessman for a loan were not part of a usurious scheme because the transaction was made at the businessman's request.

King V. Mortimer [Dissent], Jesse W. Carter

Jesse Carter Opinions

Certificate holders could not recover the difference between the price at which their assignors sold their certificates and the face amount thereof because they failed to show there was any matured claim or debt due at the time they sold them.