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Full-Text Articles in Law
Entry Restriction, Shadow Banking, And The Structure Of Monetary Institutions, Morgan Ricks
Entry Restriction, Shadow Banking, And The Structure Of Monetary Institutions, Morgan Ricks
Vanderbilt Law School Faculty Publications
Entry restriction has a noble pedigree in banking law. Soon after the founding of the Bank of England in 1694, Parliament forbade all other business entities apart from small partnerships from issuing bank notes and their equivalents. Subsequent acts of Parliament confirmed that the object of the prohibition was to give the Bank of England the ‘privilege or power’ of ‘exclusive banking’. In the USA, similar prohibitions, called ‘restraining acts’, were established at the state level in the early nineteenth century. Later, when Congress established the national banking system in the early 1860s, it prohibited (through the device of punitive …
Banks: A Broken Social Contract, Mehrsa Baradaran
Banks: A Broken Social Contract, Mehrsa Baradaran
Scholarly Works
This article explores how how the Financial Crisis of 2008 affected the banking industry and brought three specific problems: The first was that the banks and non‐bank financial institutions created due to deregulation were huge, interconnected, and highly leveraged; Second, the panic started in the “shadow banking” sector and showed that the short‐term credit transactions and derivatives that non‐bank financial institutions traded and used for funding for years were similar to banking, and thus prone to runs; and Third, the entire premise of deregulation rested on an assumption that individual firms and market players could accurately calculate and manage risks, …
Payday Lending Isn’T Helping The Poor. Here’S What Might, Mehrsa Baradaran
Payday Lending Isn’T Helping The Poor. Here’S What Might, Mehrsa Baradaran
Popular Media
This article appearing in the Washington Post on June 28, 2016 by Mehrsa Baradaran, J. Alton Hosch Associate Professor of Law at the University of Georgia School of Law explores how postal banking could benefit the poor and reduce their reliance on payday lending.
Credit Is A Double Edge Sword, Mehrsa Baradaran
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.
Postal Banking Worked—Let’S Bring It Back, Mehrsa Baradaran
Postal Banking Worked—Let’S Bring It Back, Mehrsa Baradaran
Popular Media
This article appearing in The Nation on January 9, 2016 examines how Postal Banking could assist low-income individuals.
Why The Poor Face A Higher Cost Of Banking, Mehrsa Baradaran
Why The Poor Face A Higher Cost Of Banking, Mehrsa Baradaran
Popular Media
Professor Baradaran appeared on PBS Newshour to discuss inequality in the banking system on January 6, 2016.