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Full-Text Articles in Law
Money Finds A Way: Increasing Aml Regulation Garners Diminishing Returns And Increases Demand For Dark Financing, Jacquelyn B. Lewis
Money Finds A Way: Increasing Aml Regulation Garners Diminishing Returns And Increases Demand For Dark Financing, Jacquelyn B. Lewis
Vanderbilt Journal of Transnational Law
The cost of anti-money laundering regulations has grown to many billions of dollars, and countries worldwide are increasingly complying with international standards for financial regulation. Yet, the interception rate for criminal proceeds remains under 1 percent. Banks in the United States, United Kingdom, and France continue to engage in unsafe practices, undeterred by legal penalties. Recent US legislation will narrow, but not eliminate, regulatory gaps. The cost of regulation has become so great that banks accept litigation as a cost of doing business or reduce legal exposure by ending relationships in areas of perceived high risk for money laundering; this …
Rethinking Countercyclical Financial Regulation, Jeremy C. Kress, Matthew C. Turk
Rethinking Countercyclical Financial Regulation, Jeremy C. Kress, Matthew C. Turk
Georgia Law Review
The 2008 financial crisis exposed a longstanding problem in financial regulation: traditional regulatory strategies tend to be procyclical. That is, regulatory tools—most notably, bank capital requirements—incentivize excessive credit growth during economic expansions and insufficient lending during contractions. The procyclicality of U.S. financial regulation was a key driver of the housing bubble in the mid-2000s and the massive credit crunch that followed. To combat this phenomenon, Congress and the federal banking agencies attempted to mitigate procyclical boom-and-bust cycles by implementing regulatory approaches that were explicitly countercyclical. The Dodd-Frank Act and related post-crisis reforms included several countercyclical features that were designed to …
Uniform Mortgage-Backed Securities: An Analysis Of The Regulatory Hurdles Caused By The Federal Housing Finance Agency’S Standardization Of The Tba Market, Elizabeth Ashlee Kuan
Uniform Mortgage-Backed Securities: An Analysis Of The Regulatory Hurdles Caused By The Federal Housing Finance Agency’S Standardization Of The Tba Market, Elizabeth Ashlee Kuan
American University Business Law Review
No abstract provided.
Criminal Prosecutions And The 2008 Financial Crisis In The U.S. And Iceland: What Can A Small Town Icelandic Police Chief Teach The U.S. About Prosecuting Wall Street?, Justin Rex
Concordia Law Review
Politicians, journalists, and academics alike highlight the paucity of criminal prosecutions for senior financial executives in the US in the wake of the 2008 financial crisis. One common argument for the lack of prosecutions is that, though industry players behaved recklessly, they did not behave criminally. I evaluate this claim by detailing the civil, and small number of criminal, actions actually taken and by reviewing leading arguments about whether behavior before the crisis was criminal. Rejecting the “reckless innocence” explanation, I provide examples of criminal behavior that could have been prosecuted and review the literature on why there were few …
Regulating Complacency: Human Limitations And Legal Efficacy, Steven L. Schwarcz
Regulating Complacency: Human Limitations And Legal Efficacy, Steven L. Schwarcz
Notre Dame Law Review
This Article examines how insights into limited human rationality can improve financial regulation. The Article identifies four categories of limitations—herd behavior, cognitive biases, overreliance on heuristics, and a proclivity to panic—that undermine the perfect-market regulatory assumptions that parties have full information and will act in their rational self-interest. The Article then analyzes how insights into these limitations can be used to correct resulting market failures. Requiring more robust disclosure and due diligence, for example, can help to reduce reliance on misleading information cascades that motivate herd behavior. Debiasing through law, such as requiring more specific, poignant, and concrete disclosure of …
Reforming The Global Value Chain Through Transnational Private Regulation, Kishanthi Parella
Reforming The Global Value Chain Through Transnational Private Regulation, Kishanthi Parella
South Carolina Journal of International Law and Business
No abstract provided.
Reframing International Financial Regulation After The Global Financial Crisis: Rational States And Interdependence, Not Regulatory Networks And Soft Law, Matthew C. Turk
Reframing International Financial Regulation After The Global Financial Crisis: Rational States And Interdependence, Not Regulatory Networks And Soft Law, Matthew C. Turk
Michigan Journal of International Law
The British bank Northern Rock failed on September 14, 2007; U.S. investment bank Bear Stearns collapsed on March 17, 2008 and was subject to a government-engineered takeover by J.P. Morgan Chase; and, on the night of September 15, 2008, U.S. investment bank Lehman Brothers filed for bankruptcy and sent global financial markets into disarray the following Monday morning. These financial institutions shared several features in common prior to their downfall, but perhaps the most curious is that they were each considered fully compliant with the second generation framework for the Basel Accords on Capital Adequacy (Basel II), an international agreement …
A New Perspective On The Costs And Benefits Of Financial Regulation: Inefficiency Of Capital Intermediation In A Deregulated System , Wallace C. Turbeville
A New Perspective On The Costs And Benefits Of Financial Regulation: Inefficiency Of Capital Intermediation In A Deregulated System , Wallace C. Turbeville
Maryland Law Review
No abstract provided.
Living Wills And Pre-Commitment, Adam Feibelman
Living Wills And Pre-Commitment, Adam Feibelman
American University Business Law Review
No abstract provided.
Financial Regulation Reform And Too Big To Fail, Brett Mcdonnell
Financial Regulation Reform And Too Big To Fail, Brett Mcdonnell
American University Business Law Review
No abstract provided.
Regulating Informational Intermediation, Onnig H. Dombalagian
Regulating Informational Intermediation, Onnig H. Dombalagian
American University Business Law Review
No abstract provided.
Overwhelming A Financial Regulatory Black Hole With Legislative Sunlight: Dodd-Frank's Attack On Systemic Economic Destabilization Caused By An Unregulated Multi-Trillion Dollar Derivatives Market, Michael Greenberger
Journal of Business & Technology Law
No abstract provided.
The New Policy Agenda For Financial Services, Richard S. Carnell
The New Policy Agenda For Financial Services, Richard S. Carnell
Fordham Journal of Corporate & Financial Law
No abstract provided.