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Full-Text Articles in Law

Christianity And Bankruptcy, David A. Skeel Jr. Dec 2019

Christianity And Bankruptcy, David A. Skeel Jr.

Faculty Scholarship at Penn Law

Although the term “bankruptcy” is nowhere to be found in the Bible, debt and the consequences of default are a major theme both in the Hebrew Bible and in the New Testament. In Israel, as in the ancient Near East generally, a debtor who defaulted on his obligations was often sold into slavery or servitude. Biblical law moderated the harshness of this system by prohibiting Israelites from charging interest on loans to one another, thus diminishing the risk of default, and by requiring the release of slaves after seven years of service. Jesus alluded to the lending laws at least ...


American Usury Law And The Military Lending Act, Paul Kantwill, Christopher L. Peterson Jan 2019

American Usury Law And The Military Lending Act, Paul Kantwill, Christopher L. Peterson

Utah Law Faculty Scholarship

In 2006 Congress adopted the Military Lending Act (“MLA”) to protect active duty military service members and their families from high-cost, predatory loans. The core provision of the statute is a usury limit capping interest rates at no more than 36 percent per annum. The United States Department of Defense finalized regulations implementing the MLA in 2007 and then later issued substantially revised regulations in 2015. The MLA is America’s first modern, national usury law that is applicable to all types of creditors and was adopted after the evolution of our national credit card market. After over a decade ...


Credit Is A Double Edge Sword, Mehrsa Baradaran Apr 2016

Credit Is A Double Edge Sword, Mehrsa Baradaran

Popular Media

This commentary, which appeared in the Atlantic on April 26, 2016 discusses the Marquette decision by the Supreme Court and how it de-stigmatized the practice of usury.


Usury And Loan Transfers, Roger Bernhardt, Alex Volkov Jan 2015

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.


Creative Ventures, Llc V Jim Ward & Assocs.: (2011) 195 Ca4th 1430, - Cr3d, Roger Bernhardt Nov 2011

Creative Ventures, Llc V Jim Ward & Assocs.: (2011) 195 Ca4th 1430, - Cr3d, Roger Bernhardt

Publications

Analysis of a California decision applying usury sanctions to third party investors.


Small Dollar Loans, Big Problems: How States Protect Consumers From Abuses And How The Federal Government Can Help, Leah A. Plunkett, Ana Lucia Hurtado Mar 2011

Small Dollar Loans, Big Problems: How States Protect Consumers From Abuses And How The Federal Government Can Help, Leah A. Plunkett, Ana Lucia Hurtado

Law Faculty Scholarship

Across America, drivers pass twice as many payday loan storefronts as Starbucks coffee shops.2 In twenty-nine states, there are more payday lender stores than McDonald’s restaurants.3 Numerous research studies warn of the dangers associated with payday loans, including significantly higher rates of bankruptcies, evictions, utility shut-offs, and involuntary bank account closures.4 Many states have recognized the dangers posed by payday and other types of small-dollar loans with predatory features, prompting them to adopt laws to combat the abusive nature of these loans. These laws, however, offer consumers varying degrees of protection.

Historically, states have used their ...


The Ancient Roots Of Modern Financial Innovation: The Early History Of Regulatory Arbitrage, Michael S. Knoll Jan 2008

The Ancient Roots Of Modern Financial Innovation: The Early History Of Regulatory Arbitrage, Michael S. Knoll

Faculty Scholarship at Penn Law

Recent years have seen an explosion of financial innovation. Much of this innovation seeks to exploit inconsistencies in the regulatory environment, and one of the most popular techniques for doing so uses put-call parity. Nonetheless, regulatory arbitrage using put-call parity is not a new phenomenon, as is frequently suggested. This Essay traces the use of put-call parity to avoid the usury prohibition back to Ancient Israel. It also describes the important role that put-call parity played in developing the equity of redemption, the defining characteristic of a modern mortgage, in Medieval England. In addition, this Essay describes how Muslims living ...


Optimizing Consumer Credit Markets And Bankruptcy Policy, Ronald J. Mann Jan 2006

Optimizing Consumer Credit Markets And Bankruptcy Policy, Ronald J. Mann

Faculty Scholarship

This Article explores the relationship between consumer credit markets and bankruptcy policy. In general, I argue that the causative relationships running between borrowing and bankruptcy compel a new strategy for policing the conduct of lenders and borrowers in modern consumer credit markets. The strategy must be sensitive to the role of the credit card in lending markets and must recognize that both issuers and cardholders are well placed to respond to the increased levels of spending and indebtedness. In the latter parts of the Article, I recommend mandatory minimum payment requirements, a tax on distressed credit card debt, and the ...


Optimizing Consumer Credit Markets And Bankruptcy Policy, Ronald J. Mann Jan 2006

Optimizing Consumer Credit Markets And Bankruptcy Policy, Ronald J. Mann

Faculty Scholarship

This article explores the relationship between consumer credit markets and bankruptcy policy. In general, I argue that the causative relationships running between borrowing and bankruptcy compel a new strategy for policing the conduct of lenders and borrowers in modern consumer credit markets. The strategy must be sensitive to the role of the credit card in lending markets and must recognize that both issuers and cardholders are well placed to respond to the increased levels of spending and indebtedness. In the latter parts of the article, I recommend mandatory minimum payment requirements, a tax on distressed credit card debt, and the ...


Property Law: 1996 Survey Of Florida Law, Ronald B. Brown, Joseph M. Grohma Oct 1996

Property Law: 1996 Survey Of Florida Law, Ronald B. Brown, Joseph M. Grohma

Faculty Scholarship

No abstract provided.


Property Law: 1995 Survey Of Florida Law, Ronald B. Brown, Joseph M. Grohman, Manuel R. Valcarcel Iv Oct 1995

Property Law: 1995 Survey Of Florida Law, Ronald B. Brown, Joseph M. Grohman, Manuel R. Valcarcel Iv

Faculty Scholarship

No abstract provided.


9th Annual Seminar On Legal Issues For Financial Institutions, Office Of Continuing Legal Education At The University Of Kentucky College Of Law, Joseph M. Scott Jr., M. Brooks Senn, John T. Mcgarvey, David C. Pottinger, Dorothy M. Pitt, James E. Sniegocki, Cynthia W. Young, John C. Deal, Scott W. Brinkman, David W. Harper, R. James Strauss, William L. Montague, John J. Holzknecht Mar 1989

9th Annual Seminar On Legal Issues For Financial Institutions, Office Of Continuing Legal Education At The University Of Kentucky College Of Law, Joseph M. Scott Jr., M. Brooks Senn, John T. Mcgarvey, David C. Pottinger, Dorothy M. Pitt, James E. Sniegocki, Cynthia W. Young, John C. Deal, Scott W. Brinkman, David W. Harper, R. James Strauss, William L. Montague, John J. Holzknecht

Continuing Legal Education Materials

Outline of speakers' presentations from the 9th Annual Seminar on Legal Issues for Financial Institutions held by UK/CLE on March 10-11, 1989.


Property, E. F. Roberts Jan 1978

Property, E. F. Roberts

Cornell Law Faculty Publications

Blackstone warned us that the law of real property was “a fine artificial system, full of unseen connexions and nice dependencies; and he that breaks one link of the chain endangers dissolution of the whole.” Ours is an age during which entropy appears to have beset the entire society. Reflecting as it does the socioeconomic realities of the society, the system of real property law has not escaped the general drift, and it evidences marked symptoms of dissolution.


Klett V. Security Acceptance Co. [Dissent], Jesse W. Carter Apr 1952

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.