Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- Cryptocurrency (2)
- Blockchain (1)
- Consumer financial protection (1)
- Consumer protection (1)
- Financial reform (1)
-
- Financial stability (1)
- Financial stability policy (1)
- Fintech (1)
- Fintech innovation (1)
- Governance (1)
- Information asymmetry (1)
- Initial coin offerings (1)
- Innovation Trilemma (1)
- International financial regulation (1)
- Law and macroeconomics (1)
- Regulatory framework (1)
- Regulatory system (1)
- Sandboxes (1)
- The removal power (1)
- Publication
- Publication Type
Articles 1 - 6 of 6
Full-Text Articles in Law
The Political Economy Of The Removal Power, Ganesh Sitaraman
The Political Economy Of The Removal Power, Ganesh Sitaraman
Vanderbilt Law School Faculty Publications
In the years leading up to the 2008 financial crisis, financial institutions targeted communities of color with expensive and risky subprime mortgage products. Hundreds of thousands of Black and Hispanic families were charged more for mortgages than their white counterparts or steered into expensive subprime loans, even though they qualified for cheaper prime loans. Over time, financial institutions like Countrywide pushed these "toxic" loans on more and more homeowners and expanded subprime lending throughout the country. When the music finally stopped in 2008, millions of families lost their jobs and their homes, and nearly $ii trillion in household wealth was …
Ico Vs. Ipo: Empirical Findings, Information Asymmetry, And The Appropriate Regulatory Framework, Moran Ofir, Ido Sadeh
Ico Vs. Ipo: Empirical Findings, Information Asymmetry, And The Appropriate Regulatory Framework, Moran Ofir, Ido Sadeh
Vanderbilt Journal of Transnational Law
Initial coin offerings (ICOs) are a new form of fundraising whereby blockchain-related ventures raise public capital in exchange for newly issued digital tokens. In recent years, ICOs have been a prominent focus of legal and economic studies, which analyze their characteristics and determinants of their success. In this Article, we systematically review these studies and identify key ICO success factors. We then offer theoretical explanations for our findings, and in certain cases, connect the empirical results with the IPO and crowdfunding literatures. The results of our analysis are important for two reasons. First, there is no single formal data source, …
Sandbox Boundaries, Hilary J. Allen
Sandbox Boundaries, Hilary J. Allen
Vanderbilt Journal of Entertainment & Technology Law
Around the world, subnational and national regulatory sandboxes are being adopted in an effort to promote fintech innovation. These regulatory sandboxes seek to do so by rolling back some of the consumer protection and prudential regulations that would otherwise apply to firms trialing their financial products and services in the sandbox. While sacrificing such protections in order to promote innovation is problematic, such sacrifice may nonetheless be justifiable if, by working with innovators in the sandbox, regulators are educated about new technologies in a way that enhances their ability to effectively promote consumer protection and financial stability in other contexts. …
Fintech And International Financial Regulation, Yesha Yadav
Fintech And International Financial Regulation, Yesha Yadav
Vanderbilt Journal of Transnational Law
This Article shows that Fintech exacerbates the difficulties of standard setting in international financial regulation. Earlier work introduced the "Innovation Trilemma" (the Trilemma). When seeking to balance the goals of achieving market integrity and innovation through clear and simple rulemaking, regulators can--at best--achieve only two out of these three objectives. Fintech's unique characteristics--a reliance on automation and artificial intelligence, novel types of big data, as well as the use of disintermediating financial supply chains comprising a mix of traditional firms as well as technology specialists and newcomers--complicates the application of the Trilemma. Rulemaking struggles to achieve needed clarity where innovative …
Money, Private Law, And Macroeconomic Disasters, Morgan Ricks
Money, Private Law, And Macroeconomic Disasters, Morgan Ricks
Vanderbilt Law School Faculty Publications
Last year, Ben Bernanke published a blockbuster paper whose importance to the emerging field of law and macroeconomics would be hard to overstate. Titled The Real Effects of Disrupted Credit: Evidence from the Global Financial Crisis,' the paper gets to a vital threshold question for financial stability policy: through what channel or channels do financial crises crush the real economy? Bernanke pits what he calls the "household leverage" narrative of the Great Recession of 2007 to 2009 against what he calls the "financial fragility" narrative. His empirical analysis comes down firmly on the side of the latter narrative. In this …
The Very Brief History Of Decentralized Blockchain Governance, Michael Abramowicz
The Very Brief History Of Decentralized Blockchain Governance, Michael Abramowicz
Vanderbilt Journal of Entertainment & Technology Law
A new form of blockchain governance involving the use of formal games that incentivize participants to identify focal resolutions to normative questions is emerging. This symposium contribution provides a brief survey of the literature proposing and critiquing the use of such mechanisms of decentralized decision-making, and it evaluates early laboratory and real-world experiments with this approach.