Law Commons^™

Is It Greek Or Déjà Vu All Over Again?: Neoliberalism And Winners And Losers Of International Debt Crises, Tayyab Mahmud

Faculty Articles

The global financial meltdown and the Great Recession of 2007-2009 have brought into sharp relief the uneven distribution of gain and pain during economic crises. The 2009-2010 debt crisis in Greece resulted in a windfall for financial institutions at the expense of taxpayers, a rollback of welfare systems, and the impoverishment of the working classes. This outcome is consistent with the pattern that has emerged in the international debt crises of the last three decades, including the Latin American crisis during the 1980s and the Asian crisis during the 1990s.

The recurrent international debt crises of the last three decades …

Global Finance, Multinationals And Human Rights: With Commentary On Backer’S Critique Of The 2008 Report By John Ruggie, Faith Stevelman

Faculty Articles

This article references the excellent article of Larry Cata Backer, as it provides an analysis of the 2008 Report's "Protect, Respect, Remedy" (PRR) framework. Ruggie's most recent efforts, reflected in the 2010 Report, are directed at operationalizing the PRR framework set forth in the 2008 Report. Both these reports have been vetted internationally amongst governments, lawyers, academics and human rights advocates. How will governments, corporations, trade associations and rights advocates conceptualize and construct the fora and modes of recourse available to persons aggrieving human rights abuses? That question is the central focus of the 2010 Report and, as such, lies …

The Enforceability Of Default Interest In Real Estate Mortgages, Steven W. Bender

Faculty Articles

This article examines the use of default interest rate provisions in real estate mortgage loan transactions and the varying ways courts assess the enforceability of such provisions. The authors argue that these provisions are important to lenders, ensuring that they are able to recover the transaction costs and risks associated with defaulting borrowers. The article asserts that, due to the importance of these provisions to lenders' financial stability, courts should apply the unconscionability standard with a deference to freedom of contract principles before refusing to enforce default interest rate provisions. The authors also outline guidelines lenders should follow in both …

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 …

Rate Regulation At The Crossroads Of Usury And Unconscionability: The Case For Regulating Abusive Commercial And Consumer Interest Rates Under The Unconscionability Standard, Steven W. Bender

Faculty Articles

This article builds on the argument that the usury solution is flawed and urges a compromise between usury and market control that employs the variable fairness standard of unconscionability to police unfair interest pricing. The article examines American and comparative usury and unconscionability regulation to develop appropriate guidelines for unconscionability's new duty. It then proposes a model statute articulating the unconscionability standard for consumer loans. Finally, the article advocates employing usury controls under a limited regime of "spot treatment," rather than blanket control, for persisting pockets of lender abuse the unconscionability standard may fail to deter.