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Articles 301 - 322 of 322

Full-Text Articles in Banking and Finance Law

Strange Bedfellows For Electronic Funds Transfers: Proposed Article 4a Of The Uniform Commercial Code And The Uncitral Model Law Symposium: Revised U.C.C. Articles 3 &(And) 4 And New Article 4a, Carl Felsenfeld Jan 1990

Strange Bedfellows For Electronic Funds Transfers: Proposed Article 4a Of The Uniform Commercial Code And The Uncitral Model Law Symposium: Revised U.C.C. Articles 3 &(And) 4 And New Article 4a, Carl Felsenfeld

Faculty Scholarship

Two pieces of proposed legislation that will affect the same subject matter are proceeding down parallel tracks. If all goes as planned, the tracks will at some time turn inward and there may be a collision. Each piece has as its core concern the subject of electronic funds transfers ("EFTs"), the modern device that has overtaken checks as the principal form of money transfer.' Basically, however, before the promulgation of Article 4A there was no legislation, either in the United States or abroad, that governed EFTs in the way that Articles 3 and 4 of the Uniform Commercial Code ("U.C.C.") …

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Bank Mergers: Agency Review And The Changing Line Of Commerce, Tommy Leung Jan 1983

Bank Mergers: Agency Review And The Changing Line Of Commerce, Tommy Leung

Fordham Urban Law Journal

Conflicting criteria put forth by Congress and the Justice Department have caused confusion among the bank regulatory agencies and within the banking idustry with respect to two important issues: (1) whether the antitrust laws should be applied to bank mergers within the vacuum of Justice Department analysis or whether there should be a greater emphasis on agency participation in reviewing proposed mergers, and (2) whether commercial banking should continue as the relevant line of commerce when antitrust standards are applied.

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Bank Certificates Of Deposit: Notes Not In Tune With Securities Regulation, Mitchell S. Berkey Jan 1982

Bank Certificates Of Deposit: Notes Not In Tune With Securities Regulation, Mitchell S. Berkey

Fordham Urban Law Journal

This Note analyzes the legislative history of the Securities Act of 1933, the Securities Exchange Act of 1934, and the Banking Act of 1933 to ascertain whether Congress may have intended to include modern instruments such as high-yield time deposit savings certificates - items utilized today as alternative investment vehicles to minimize the effects of double digit inflation and interest rates. This Note examines the split among the circuits which have attempted to reconcile statutory language and congressional intent with the practicalities of the modern complex financial marketplace in determining whether promissory notes, including certificates of deposit, are securities. This …

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Insider Loans: How Restricted Is The Banker?, Patricia A. Murphy Jan 1981

Insider Loans: How Restricted Is The Banker?, Patricia A. Murphy

Fordham Urban Law Journal

This article examines the Federal Institutions Regulatory and Interest Rate Control Act of 1978 ("FIRA"), bank reform legislation that imposed stricter controls on insider lending transactions that Congress had seen as one of the primary threats to the successful operations of banks. It highlights the differences between state and federally chartered banks, illustrating that state chartered banks are not subject to federal banking provisions unless they become a member of the Federal Reserve System. It argues that FIRA provides the safeguards necessary to control bank insider abuses by imposing a myriad of lending limitations and reporting mechanisms. It discusses and …

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Debt-Equity Financing Guidelines: Capital Problems For Closely Held Businesses, Donald R. Ames Jan 1981

Debt-Equity Financing Guidelines: Capital Problems For Closely Held Businesses, Donald R. Ames

Fordham Urban Law Journal

Section 385 of the Internal Revenue Code authorized the Treasury to prescribe regulations to help both courts and taxpayers determine whether an interest in a corporation qualified as debt or equity for federal income tax purposes. On December 29, 1980, Treasury Decision 7747 was issued stating the final regulations for determining whether certain interests in a corporation should be treated as stock or indebtedness. The regulations are intended to provide certainty through objective tests for an area heretofore plagued by confusion. The new rules will generally apply to certain interests in small, closely held corporations created after April 30, 1980. …

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The Small Business Investment Incentive Act Of 1980 And Venture Capital Financing, Richard G. Tashjian Jan 1981

The Small Business Investment Incentive Act Of 1980 And Venture Capital Financing, Richard G. Tashjian

Fordham Urban Law Journal

The small business community is a diverse component of the national economy and if very often the leader of developing new technology, products and services. Traditionally, small businesses do not raise capital in the conventional public markets; rather, they generally receive their capital from the venture capital industry. Once a venture capital company becomes publicly held or reaches a certain size, however, it becomes subject to detailed regulation under the Investment Company Act of 1940. The venture capital industry has consistently maintained that it cannot operate and function efficiently under the 1940 Act, and the result has been a lack …

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Royalty Financing As A Tool For Economic Development, Michael Katovitz Jan 1981

Royalty Financing As A Tool For Economic Development, Michael Katovitz

Fordham Urban Law Journal

Venture capital funding is the segment of the capital market most oriented toward financing new, high-risk companies. Since 1970, however, fewer firms have been able to go public, decreasing the importance of venture capital as a mechanism for financing new firms. Because many new firms have been unable to go public, venture capitalists have to seek other methods of investments. These alternate methods have proven unacceptable and have contributed to a decrease in the use of venture capital as a source for financing new firms. This Note will first discuss the role that government has played in providing adequate financing …

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A Model For Small Business Financing: The Canada Development Corporation, Marshall A. Heinberg Jan 1981

A Model For Small Business Financing: The Canada Development Corporation, Marshall A. Heinberg

Fordham Urban Law Journal

Development finance institutions which provide equity capital have been used to stimulate economic growth worldwide. The potential uses for equity development finance organizations in the United States have been recognized. Probably the most dramatic use, and one with broad economic ramifications is the establishment of an equity development finance institution to correct imperfections in the private capital market system of this country. One of the major flaws of the American capital market has been that the supply of capital for new small sized businesses has been artificially scarce. The focus of this Note will be , first to examine the …

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Discussion, James L. Magavern Jan 1980

Discussion, James L. Magavern

Fordham Urban Law Journal

This is a transcript of remarks given by James L. Magavern in response to Donald H. Elliot's paper "Proposed Fiscal Monitoring Legislation in New York: A Comparative Analysis." This discussion emphasizes the political nature of budgetary decisions and the speaker's concern that there is a more general need for financial integrity and accountability in government.

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Discussion, Edward M. Kresky Jan 1980

Discussion, Edward M. Kresky

Fordham Urban Law Journal

This is an edited transcript of comments made after Mr. Sigal's paper, The Proposed Constitutional Amendments to the Local Finance Article: A Critical Analysis, was presented. They respond to the points made in the paper and also describe the speaker, Edward M. Kresky's, first hand experience with finance and city government.

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Mandating Disclosure In Municipal Securities Issues: Proposed New York Legislation, Thomas S. Currier Jan 1980

Mandating Disclosure In Municipal Securities Issues: Proposed New York Legislation, Thomas S. Currier

Fordham Urban Law Journal

This article surveys the existing mechanisims (primarily stemming from federal law) resulting in financial disclosure in connection with the offering and sale to the public of securities of New York municipal issuers. It also describes and compares alternative models for regimes of municipal issuer financial disclosure, such as the MFOA Guidelines, the federal Williams Bill and Industrial Bond Act and New York's Disclosure Proposals. The article ultimately concludes that although the isolated purpose of protecting investors in a municipal securities market that is largely national could most effectively be pursued by the imposition of uniform disclosure requirements through federal law, …

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The Fordham Symposium On The Local Finance Project Of The Association Of The Bar Of The City Of New York: An Introductory Essay, Eugene W. Harper, Jr. Jan 1980

The Fordham Symposium On The Local Finance Project Of The Association Of The Bar Of The City Of New York: An Introductory Essay, Eugene W. Harper, Jr.

Fordham Urban Law Journal

This article is an introduction to the symposium held at Fordham Law School on March 24, 1979, focused on a report entitled "Proposals to Strengthen Local Finance Laws in New York State" published by The Committee on Municipal Affairs of the Association of the Bar of the City of New York. This article describes the report and its merits.

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The Proposed Constitutional Amendments To The Local Finance Article: A Critical Analysis, Richard L. Sigal Jan 1980

The Proposed Constitutional Amendments To The Local Finance Article: A Critical Analysis, Richard L. Sigal

Fordham Urban Law Journal

This paper examines the recent proposals of the Committee on Municipal Affairs of the Association of the Bar of the City of New York to amend Article VIII of the New York State Constitution. These amendments would modify the powers of local governments to raise and spend money. The paper considers philosophical, political and judicial theories of local finance, and summarizes the effects of the proposals, concluding that they have merit and should be explored.

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Discussion, John C. Burton Jan 1980

Discussion, John C. Burton

Fordham Urban Law Journal

This is an edited transcript of remarks made by John C. Burton in response to Thomas S. Currier's paper "Mandating Disclosure in Municipal Securities Issues: Proposed New York Legislation." The remarks focus on the importance of the federal government in mandating disclosure.

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Proposed Fiscal Monitoring Legislation In New York: A Comparative Analysis, Donald H. Elliot Jan 1980

Proposed Fiscal Monitoring Legislation In New York: A Comparative Analysis, Donald H. Elliot

Fordham Urban Law Journal

This article argues that the recent financial difficulties of New York City, Cleveland and other financially strapped municipalities demonstrate the need for the preparation and maintenance of balanced budgets and effective monitoring of local budget planning and administration. The article examines the City Bar Association Committee on Municipal Affairs' proposed revision of the existing debt limits, exclusion in the New York Constitution of a provision mandating localities to adopt and maintain balanceed budgets and the establishment of a state-operated fiscal monitoring system to supplant the traditional approach to budgetary control in light of the monitoring systems employed in Pennsylvania and …

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Local Finance: A Brief Constitutional History, Robert W. Cockren, Maria L. Vecchiotti, Donna M. Zerbo Jan 1980

Local Finance: A Brief Constitutional History, Robert W. Cockren, Maria L. Vecchiotti, Donna M. Zerbo

Fordham Urban Law Journal

This Comment traces the constitutional history of local finance from the seventeeth century through the present. The authors conclude that the New York City Bar Association Committee on Municipal Affairs' report places the New York State Legislature at a crossroad in its history of dealing with local finances, and the well travelled path of patchwork amendment and politically expedient compromise is unacceptable for the future in light of New York City's recent fiscal problems. However, the authors recognize that the alternative may be politically dangerous to members of the legislature hiding from the challenge and may jeopardize the fiscal stability …

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The Constitutional Debt Limit And New York City, Nicholas P. Giuliano, Timothy J. Heine, Tammy Elaine Tuller Jan 1980

The Constitutional Debt Limit And New York City, Nicholas P. Giuliano, Timothy J. Heine, Tammy Elaine Tuller

Fordham Urban Law Journal

This Comment describes how New York City abused both its short-term and long-term borrowing powers in response to its financial problems. The Comment concludes that New York City is guilty of fiscal practices that underscore the conclusion that constitutional debt ceilings are phantom regulations of municipal debt incurrence. The authors encourage thorough and decisive reform, and commend the Association of the Bar of the City of New York's proposed Local Finance Article.

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Double Jeopardy Of Corporate Profits, The , Constantine N. Katsoris Jan 1980

Double Jeopardy Of Corporate Profits, The , Constantine N. Katsoris

Faculty Scholarship

The more one reads about our economy, the more one is baffled and alarmed. Permanent solutions to economic problems are elusive. Treating one financial malaise often aggravates another sector of the economy, necessitating a delicate balancing of conflicting interests. Furthermore, the problems are complicated by the constant influence of foreign forces. Nevertheless, most economists agree that any solution will require enormous funding. Unfortunately, the public has little, if any, confidence in our tax system. Indeed, some tax laws and proposals have been referred to as "obscene" and a "disgrace to the human race." Few quarrel with the aptness of such …

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Enhancing The Security Behind Municipal Obligations: Flushing And U.S. Trust Lead The Way, Kenneth W. Bond Jan 1977

Enhancing The Security Behind Municipal Obligations: Flushing And U.S. Trust Lead The Way, Kenneth W. Bond

Fordham Urban Law Journal

When bond counsel' render their legal opinion approving the issuance and delivery of a municipal obligation, one of the opinions traditionally expressed is that the obligation is "valid and legally binding according to its terms." Significant, here, are the words "valid" and "binding." The validity of a municipal obligation can usually be determined by straightforward observation. Bond counsel must be satisfied that (1) the issuer has statutory and sometimes constitutional authority to borrow and incur indebtedness (2) the funds borrowed are to be used for a public purpose and (3) the issuer has complied with the preconditions to issuing debt …

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Usury--Attorneys' Fees--Bank's Collection Of In-House Legal Department Costs On Default Judgments Constitutes Usury And Illegal Fee-Splitting, William Kirschner Jan 1976

Usury--Attorneys' Fees--Bank's Collection Of In-House Legal Department Costs On Default Judgments Constitutes Usury And Illegal Fee-Splitting, William Kirschner

Fordham Urban Law Journal

At the request of the Attorney General, the Administrative Judge of the Civil Court of New York brought an action against Chemical Bank to recover all attorneys' fees collected by the bank in obtaining numerous default judgments during 1973 and 1974. These judgments resulted from unpaid consumer loans and were based on certain notes signed by each borrower. The consumer notes included provisions for the recovery of attorneys' fees even though the defaults were not prosecuted by an independent law firm but by the bank's salaried in-house counsel. The plaintiff in Thompson v. Chemical Bank argued that Chemical Bank, by …

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Competing State And Federal Roles In Consumer Credit Law , Carl Felsenfeld Jan 1970

Competing State And Federal Roles In Consumer Credit Law , Carl Felsenfeld

Faculty Scholarship

An important problem confronting those in the consumer credit industry is the absence of a cohesive body of law. This impairs creditors of all types and also results in unequal treatment of consumers. In a comprehensive study Mfr. Felsenfeld analyzes the evolution from purely state regulation of consumer credit to a combination of state and federal control. The author suggests that, despite certain merits of local regulation, the consumer credit area may well be preempted by future federal legislation.

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Securities Arbitrations Involving Mortgage-Backed Securities And Collateralized Mortgage Obligations: Suitable For Unsuitability Claims?, Bradley J. Bondi Jan 1905

Securities Arbitrations Involving Mortgage-Backed Securities And Collateralized Mortgage Obligations: Suitable For Unsuitability Claims?, Bradley J. Bondi

Fordham Journal of Corporate & Financial Law

No abstract provided.

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