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Articles 1 - 21 of 21
Full-Text Articles in Law
Health Of Nations: Preventing A Post-Pandemic Emerging Markets Debt Crisis, Lev E. Breydo
Health Of Nations: Preventing A Post-Pandemic Emerging Markets Debt Crisis, Lev E. Breydo
Nevada Law Journal
No abstract provided.
Finding Light In Arbitration's Dark Shadow, Nicole G. Iannarone
Finding Light In Arbitration's Dark Shadow, Nicole G. Iannarone
Nevada Law Journal Forum
This short essay in response to “Arbitration’s Dark Shadow” examines the light visible at the borders of mandatory arbitration’s shadow in one industry Professor Edwards highlights – securities disputes between an investor customer and a broker-dealer. Though Edwards is correct that mandatory arbitration is often a black box emmeshed in shadow, the few instances where light exists in the form of public data should be highlighted, examined, and studied. We should not close our eyes in the dark. Instead, we should adjust to lessened light and determine what we can learn from the information we can see.
State, Dep’T Of Bus. & Indus. V. Titlemax, 135 Nev. Adv. Op. 44 (Sept. 26, 2019), Alexis Taitel
State, Dep’T Of Bus. & Indus. V. Titlemax, 135 Nev. Adv. Op. 44 (Sept. 26, 2019), Alexis Taitel
Nevada Supreme Court Summaries
In an en banc opinion, the Nevada Supreme Court answered whether title lender TitleMax’s Grace Period Deferment Agreement (“GPPDA”), which applied to short-term, high-interest loans offered to Nevada consumers in 2014 and 2015, qualified as a true grace period under NRS 604A.210. The Court concluded that the GPPDA was not a true grace period, but was instead an impermissible extension of the 210-day loans. The Court reasoned that the GPPDA was an extension because TitleMax charged borrowers additional interest during the extended period and thus violated NRS 604A.445, a statute enacted by the Nevada Legislature in part to protect consumers …
The Rise Of Automated Investment Advice: Can Robo-Advisers Rescue The Retail Market?, Benjamin P. Edwards
The Rise Of Automated Investment Advice: Can Robo-Advisers Rescue The Retail Market?, Benjamin P. Edwards
Scholarly Works
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 today …
The Dark Side Of Self-Regulation, Benjamin P. Edwards
The Dark Side Of Self-Regulation, Benjamin P. Edwards
Scholarly Works
The financial services industry indirectly regulates itself through little discussed, scandal-prone, and structurally-entrenched self-regulatory organizations. FINRA, the most prominent of these self-regulatory organizations, makes regulations and sets enforcement policy that directly affect public welfare. As with other self-regulatory organizations, FINRA's structure poses a continual risk that industry members will subvert its processes to act like a cartel, promoting industry interests at the expense of the public and contributing to the excessive rents collected by financial intermediaries. Although this dark side to self-regulation poses a constant danger, structural reforms may increase the likelihood that FINRA and other self-regulatory organizations will take …
Distributed Governance, Carla L. Reyes, Nizan Geslevich Packin, Benjamin P. Edwards
Distributed Governance, Carla L. Reyes, Nizan Geslevich Packin, Benjamin P. Edwards
Scholarly Works
Distributed ledger technology disrupts traditional business organizations by introducing new business entities without the directors and officers of traditional corporate entities. Although these emerging entities offer intriguing possibilities, distributed entities may suffer significant collective action problems and expose investors to catastrophic regulatory and governance risks. Our Article examines key considerations for stakeholders and argues that distributed entities must be carefully structured to function effectively.
This Article breaks new ground by critically examining distributed entities. We argue that a distributed model is most appropriate when distributed ledger technology solves a unique corporate governance problem. We caution against ignoring the lessons painstakingly …
Conflicts & Capital Allocation, Benjamin P. Edwards
Conflicts & Capital Allocation, Benjamin P. Edwards
Scholarly Works
The regulatory structure for financial advice now tolerates incentives motivating financial advisors to manipulate and deceive retail investors. While scholars thus far have argued for ways to improve investor protections, the literature has largely ignored how these flawed incentives affect the economy.
This Article contends that these flawed incentives cause financial advisors to negatively affect capital allocation throughout the overall economy.
This Article draws on literature about manipulation and deception in principal-agent relationships to show how conflicts of interest cause the market for financial advisor services to generate excessive intermediation, driving harms to the real economy. This Article uses case …
Johnson V. Wells Fargo Bank Nat’L Ass’N, 132 Nev. Adv. Op. 70 (September 29, 2016), Brittni Griffith
Johnson V. Wells Fargo Bank Nat’L Ass’N, 132 Nev. Adv. Op. 70 (September 29, 2016), Brittni Griffith
Nevada Supreme Court Summaries
The Court considered whether the Bank Secrecy Act prevents financial institutions from disclosing all investigative information in discovery to an adverse party. The Court held that the Bank Secrecy Act only precludes the disclosure of information relating to the existence of a suspicious activity report or the procedural nature of the suspicious activity report’s generation.
The Bridging Model: Exploring The Roles Of Trust And Enforcement In Banking, Bitcoin, And The Blockchain, Catherine Martin Christopher
The Bridging Model: Exploring The Roles Of Trust And Enforcement In Banking, Bitcoin, And The Blockchain, Catherine Martin Christopher
Nevada Law Journal
No abstract provided.
Hurrah For The Consumer Financial Protection Bureau: Consumer Arbitration As A Poster Child For Regulation, Jean R. Sternlight
Hurrah For The Consumer Financial Protection Bureau: Consumer Arbitration As A Poster Child For Regulation, Jean R. Sternlight
Scholarly Works
Drawing on economic, psychological and philosophical considerations, this Essay considers whether consumers should be "free" to "agree" to contractually trade their opportunity to litigate in a class action for the opportunity to bring an arbitration claim against a company. The Essay suggests that by looking at the CFPB's regulation through these three lenses, one sees that the regulation is desirable—even a poster child—for the potential value of regulation when market forces are not sufficient to protect individual or public interests.
Summary Of C. Nicholas Pereos, Ltd. V. Bank Of America, N.A., 131 Nev. Adv. Op. 61553 (July 2, 2015), Stacy Newman
Summary Of C. Nicholas Pereos, Ltd. V. Bank Of America, N.A., 131 Nev. Adv. Op. 61553 (July 2, 2015), Stacy Newman
Nevada Supreme Court Summaries
The Court considers an appeal from a district court summary judgment in a tort case concerning losses sustained due to unauthorized activity in a customer’s bank account. The Court reversed the grant of summary judgment because genuine issues of material fact exist regarding whether respondent Bank of America acted reasonably in delivering bank statements, and also because the appellant’s suit was not time barred under a one year period of repose.
Summary Of Munoz V. Branch Banking & Trust Co., 131 Nev. Adv. Op. No. 23 (Apr. 30, 2015), Michael S. Valiente
Summary Of Munoz V. Branch Banking & Trust Co., 131 Nev. Adv. Op. No. 23 (Apr. 30, 2015), Michael S. Valiente
Nevada Supreme Court Summaries
NRS 40.459(1)(c)’s limitation on the amount of deficiency judgment that a successor can recover conflicts with the federal Financial Institutions Reform, Recovery and Enforcement Act’s (“FIRREA”) purpose of facilitating the transfer of assets of failed banks to other institutions. Because NRS 40.459(1)(c) limits the value a successor can recover on a deficiency judgment, its application to assets transferred by the Federal Deposit Insurance Corporation (“FDIC”) frustrates FIRREA’s purpose. Therefore, NRS 40.459(1)(c) is preempted by FIRREA to the extent that NRS 40.459(1)(c) limits deficiency judgment that may be obtained from loans transferred by the FDIC.
Summary Of Branch Banking & Trust V. Windhaven & Tollway, Llc, 131 Nev. Adv. Op. 20 (Apr. 30, 2015), Joseph Meissner
Summary Of Branch Banking & Trust V. Windhaven & Tollway, Llc, 131 Nev. Adv. Op. 20 (Apr. 30, 2015), Joseph Meissner
Nevada Supreme Court Summaries
The Court determined the proper interpretation of NRS 40.455(1), and applied it in a claim for a deficiency judgment following an out-of-state nonjudicial foreclosure. NRS 40.455(1) “does not require an out-of-state trustee’s sale to comply with NRS 107.080, nor does it preclude a deficiency judgment in Nevada when a nonjudicial foreclosure sale is conducted pursuant to the laws of another state.”
Summary Of State, Dept. Of Bus. And Industry V. Check City P’Ship, 130 Nev. Adv. Op. 90, Daven Cameron
Summary Of State, Dept. Of Bus. And Industry V. Check City P’Ship, 130 Nev. Adv. Op. 90, Daven Cameron
Nevada Supreme Court Summaries
The Court interpreted NRS 605A.425 and concluded that the statute unambiguously provides that a borrower’s deferred deposit loan is to be capped at 25 percent of the borrower’s expected gross monthly income. This cap includes both principal and any interest or fees charged.
Nevada's Foreclosure Epidemic: Homeowner Associations' Super-Priority Liens Not So "Super" For Some, Kylee Gloeckner
Nevada's Foreclosure Epidemic: Homeowner Associations' Super-Priority Liens Not So "Super" For Some, Kylee Gloeckner
Nevada Law Journal
No abstract provided.
Summary Of Lavi V. Eighth Judicial District Court, 130 Nev. Adv. Op. 38, Danielle Barraza
Summary Of Lavi V. Eighth Judicial District Court, 130 Nev. Adv. Op. 38, Danielle Barraza
Nevada Supreme Court Summaries
The Court determined whether waiver of the “one-action rule” of NRS 40.430 terminates the procedural requirements for bringing a deficiency judgment action within six months of foreclosure under NRS 40.455.
Turning Restitution Upside-Down: The Mortgage Fraud Restitution Formula Amidst Volatile Housing Prices, Nicole Scott
Turning Restitution Upside-Down: The Mortgage Fraud Restitution Formula Amidst Volatile Housing Prices, Nicole Scott
Nevada Law Journal
No abstract provided.
Regulatory Arbitrage, Extraterritorial Jurisdiction, And Dodd-Frank: The Implications Of Us Global Otc Derivative Regulation, Christian Johnson
Regulatory Arbitrage, Extraterritorial Jurisdiction, And Dodd-Frank: The Implications Of Us Global Otc Derivative Regulation, Christian Johnson
Nevada Law Journal
No abstract provided.
Welcome To Fabulous Las Vegas: The Nevada Gaming Regulatory Response To Sovereign Wealth Fund Investment, John J. Piro
Welcome To Fabulous Las Vegas: The Nevada Gaming Regulatory Response To Sovereign Wealth Fund Investment, John J. Piro
UNLV Gaming Law Journal
The bulk of recent scholarly work surrounding sovereign wealth funds ("SWFs") is dedicated to assessing the federal regulatory systems’ adequacy—or likely, inadequacy—in dealing with issues unique to SWF investment. However, the federal regulatory system has not been the only regulatory body to deal with SWF investment in the United States. In 2008, one of the United Arab Emirates’ (“UAE”) SWFs, Dubai World, made a large investment into the Nevada gaming industry and was found suitable to purchase up to twenty percent of MGM Mirage’s stock. This article will address how the Nevada gaming regulatory system has found an effective way …
Toward Global Corporate Citizenship: Reframing Foreign Direct Investment Law, Rachel J. Anderson
Toward Global Corporate Citizenship: Reframing Foreign Direct Investment Law, Rachel J. Anderson
Scholarly Works
This article argues that modern foreign direct investment law is a vestige of the colonial era during which early forms of transnational corporations emerged. Unlike international trade law and despite the dramatic developments of the twentieth century, foreign direct investment law remains largely unchanged. Due to a lack of political will, prior multilateral efforts to implement comprehensive foreign direct investment law reforms have been largely unsuccessful. However, in recent years, growing political will has emerged under the umbrella of Global Corporate Citizenship and related movements. This article posits that Global Corporate Citizenship is an opportunity to reframe and reform foreign …
The Fair Housing Act At Forty: Predatory Lending And The City As Plaintiff, Ngai Pindell
The Fair Housing Act At Forty: Predatory Lending And The City As Plaintiff, Ngai Pindell
Scholarly Works
The availability of credit, to individual borrowers and to communities, is an integral factor shaping the geography of housing opportunity. Cities are shaped by the housing and borrowing choices of their residents and the attendant mobility -- or lack of mobility -- of families. When lenders deny credit to neighborhoods or borrowers because of race, communities suffer. And when lenders flood these same neighborhoods with subprime or predatory loan products, the communities suffer once again. The economic gains of individuals and of communities in cities over the last several decades are threatened by massive property devaluations, loss of equity, and …