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University of Michigan Law School

Articles 271 - 300 of 752

Full-Text Articles in Banking and Finance Law

International Trade And Investment Regulation: Developing Jurisprudence In Taiwan, Paul S.P. Hsu Jan 1990

Note, Throwing A Monkey Wrench Into The Wheels Of International Finance: Wells Fargo Asia Ltd. V. Citibank, N.A., Edmund W. Sim Jan 1990

Note, Throwing A Monkey Wrench Into The Wheels Of International Finance: Wells Fargo Asia Ltd. V. Citibank, N.A., Edmund W. Sim

Michigan Journal of International Law

This note attempts to illustrate concisely the issues and potential ramifications of Wells Fargo. After describing the complex factual and procedural histories of the case, the note briefly surveys the various approaches to the Act of State doctrine and suggests that the Court should consider Act of State issues in Wells Fargo. Next, it examines the lower courts' analyses of the case and what effects their rulings would have if the Court were to adopt them. Due to the resulting legal confusion that the lower courts' decisions would wreak on the Eurodollar community, Wells Fargo should not remain …

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Europe: A Single Currency And A Single Central Bank?, Hugo J. Hahn Jan 1990

Europe: A Single Currency And A Single Central Bank?, Hugo J. Hahn

Michigan Journal of International Law

This article follows the address delivered by the author in French at the Founding Assembly of the European Society for Banking and Financial Law in Paris on Nov. 5, 1988.

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Goldstein's Curse, James J. White Jan 1990

Goldstein's Curse, James J. White

Articles

ON April 16, 1980, a man using the name Marvin Goldstein opened a bank account at a Baltimore branch of Union Trust Company. He deposited $15,000 in cash. He told the branch manager that he planned to establish a Baltimore office of his father's New York business, "Goldstein's Precious Metals and Stones." Goldstein identified himself with a New Jersey driver's license and gave a bank reference from New York. On May 6, Goldstein deposited a check for $880,000 at another Union Trust branch near the branch where he had opened the account. Words on this check indicated that it was …

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Does International Human Rights Law Have Something To Teach Monetary Law?, Cynthia C. Lichtenstein Jan 1989

Does International Human Rights Law Have Something To Teach Monetary Law?, Cynthia C. Lichtenstein

Michigan Journal of International Law

Although the subject of exchange controls, a substantial part of international monetary law, seems hardly at first glance to be as gripping a matter of international concern as international human rights, the first glance neglects the place of exchange controls in the life blood of developing nations. If, instead of referring to exchange controls, one speaks of the human costs of the international debt crisis, the point is quickly made. Students in a class in international monetary law do see a connection between the outflow of hard currency to repay external debt and the political consequences for a nation that, …

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Joint Ventures And The Law Of International Claims, Richard B. Lillich Jan 1989

Joint Ventures And The Law Of International Claims, Richard B. Lillich

Michigan Journal of International Law

Joint ventures are one of the most remarkable post-World War II international business developments. Although the late Professor Friedmann noted in 1971 that they were becoming "the most important form of foreign investment in the developing countries of Africa, Asia and Latin America," "only within the last two decades has the joint capital venture received more than scant attention." Now, whether one is interested in establishing a "minority joint venture," in which the foreign investor holds less than fifty percent of the equity in the joint enterprise and the host country the majority interest, or a "multipartite joint venture," in …

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Introduction To The Banking Law Symposium: A 200 Year Journey From Anarchy To Oligarchy, James J. White Jan 1989

Introduction To The Banking Law Symposium: A 200 Year Journey From Anarchy To Oligarchy, James J. White

Articles

Each of the five articles in this symposium deals in one way or another with a single question: In what ways and to what end should banks be regulated? Although banks and bankers are the very symbols of a capitalist economy, banks and bankers are not free. No banker may set up business on his own; he must have a charter. With insignificant exceptions no bank or bank holding company can operate a steel mill, sell grass seed, manufacture snowmobiles, or engage in any other activity that is not related to banking. There are rules that limit the geographic scope …

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Adventures In Finance, Deborah A. Demott May 1988

Adventures In Finance, Deborah A. Demott

Michigan Law Review

A Review of Finance and Industrial Performance in a Dynamic Economy: Theory, Practice, and Policy by Merritt B. Fox

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Modern Investment Management And The Prudent Man Rule, Creighton R. Meland Jr. May 1988

Modern Investment Management And The Prudent Man Rule, Creighton R. Meland Jr.

Michigan Law Review

A Review of Modern Investment Management and the Prudent Man Rule by Bevis Longstreth

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Capital Neutrality And Coordinated Supervision: Lessons For International Securities Regulation From The Law Of International Taxation And Banking, Charles Thelen Plambeck Jan 1988

Capital Neutrality And Coordinated Supervision: Lessons For International Securities Regulation From The Law Of International Taxation And Banking, Charles Thelen Plambeck

Michigan Journal of International Law

Part I of this article provides some background on the legal forces which have influenced globalization and internationalization of the world's securities markets. Part II focuses on the international tax law principle of capital neutrality. Fundamentally, the principle of capital neutrality requires that regulations should not unintentionally direct the movement of capital. Part II analyzes the bases and parameters of the principle of capital neutrality, the experiences of international taxation in applying the principle to a globalizing economy, and the possibilities for applying the principle to international securities regulation. Part III focuses on the international banking law principle of coordinated …

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Statutory Obsolescence And The Judicial Process: The Revisionist Role Of The Courts In Federal Banking Regulation, Donald C. Langevoort Feb 1987

Statutory Obsolescence And The Judicial Process: The Revisionist Role Of The Courts In Federal Banking Regulation, Donald C. Langevoort

Michigan Law Review

What do - or should - courts do when asked to interpret an apparently "obsolete" statute? This question is an important one half a century or more after the enactment of much of the fundamental federal legislation in such fields of economic regulation as labor, communications, antitrust, securities, and - the subject of this study banking. For a variety of reasons, including political inertia and special interest pressure, many of these statutes remain substantially unchanged even though the assumptions about marketplace structure and conditions that formed the basis for the legislation have long since ceased to hold true.

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Travelers Checks, James J. White Jan 1985

Travelers Checks, James J. White

Articles

A. Travelers Checks Defined 1. Courts have variously described travelers checks as certificates of deposit, negotiable instruments, securities, cash, and cashier's checks. 2. The most persuasive analysis seems to treat travelers checks as cashier's checks on which the issuer is both the drawer and the drawee, the purchaser once he has countersigned is the payee, and both the purchaser and the next recipient are indorsers.

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Legal Models For The International Regulation Of Exchange Rates, Joseph Gold May 1984

Legal Models For The International Regulation Of Exchange Rates, Joseph Gold

Michigan Law Review

No legal scholar has contributed more to the study of the harmonization of national interests by international agreement than Professor Eric Stein. This essay in his honor examines some of the efforts that have been made since the Bretton Woods Conference of July 1944 to bring order into the important international relationships that are called exchange rates. The subject has a further pertinence because of Eric Stein's work on the European Community. The law of the Community on exchange rates has been affected by the fortunes of the law of the International Monetary Fund (IMF). The Treaty of Rome relied …

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A Labor View Of Industrial Policy, Henry B. Schechter Jan 1984

A Labor View Of Industrial Policy, Henry B. Schechter

Michigan Journal of International Law

This article discusses the following topics: secular economic decline, factors in the loss of U.S. competitive position, foreign industrial policies, a labor-endorsed legislative proposal for an industrial policy, and supplementary measures that are required for a successful industrial policy.

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Industrial Policy: Diverting Resources From The Winners, Edwin L. Harper, Lehmann K. Li Jr. Jan 1984

Industrial Policy: Diverting Resources From The Winners, Edwin L. Harper, Lehmann K. Li Jr.

Michigan Journal of International Law

This article argues that the various forms of industrial policy currently being proposed are inappropriate for the United States (U.S.). They would fail not only on economic grounds, but on political grounds as well. The article outlines the appropriate role for government in the economy.

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A Banker's Adventures In Brokerland: Looking Through Glass-Steagall At Discount Brokerage Services, Michigan Law Review May 1983

A Banker's Adventures In Brokerland: Looking Through Glass-Steagall At Discount Brokerage Services, Michigan Law Review

Michigan Law Review

Several banks have recently entered or announced their intention to enter the discount brokerage business, and the Federal Reserve Board is considering a rule listing discount brokerage as an acceptable bank holding company activity. The securities industry has contested this entry, asserting that the Glass-Steagall Act requires separation between investment and commercial banking. Though the Act does mandate some division between the two lines of business, this Note argues that bank discount brokerage services do not violate the Act. Part I examines the competing "accommodation" and "agency" interpretations of the relevant statutory sections, concluding that the agency interpretation, which permits …

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Law And Inflation, Michigan Law Review Mar 1983

Law And Inflation, Michigan Law Review

Michigan Law Review

A Review of Law and Inflation by Keith S. Rosenn

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Alternative Mortgage Instruments: Authorizing And Implementing Price Level Adjusted Mortgages, Joel J. Goldberg Oct 1982

Alternative Mortgage Instruments: Authorizing And Implementing Price Level Adjusted Mortgages, Joel J. Goldberg

University of Michigan Journal of Law Reform

Of the institutions authorized to make mortgage funds available, only federally-chartered and a small minority of state-chartered savings and loan associations are presently authorized to make PLAM loans. This is due, in part, to a variety of legal and underwriting problems that may outweigh the theoretical advantages of PLAM financing. This Note evaluates these legal and underwriting problems and proposes legal measures to accommodate PLAM financing. Part I discusses the development and advantages of the PLAM. Part II analyzes the legal and practical underwriting objections to PLAM financing, including interest regulations, tax ramifications, and commercial desirability. Part II also suggests …

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The Impact Of U.S. Control Of Foreign Assets On Refugees And Expatriates, Michael P. Malloy Jan 1982

The Impact Of U.S. Control Of Foreign Assets On Refugees And Expatriates, Michael P. Malloy

Michigan Journal of International Law

The U.S. Treasury Department has the responsibility of administering several emergency-related programs that affect the property of certain countries (and usually the nationals thereof) designated by its regulations, where the property, or the persons dealing with the property, are subject to the jurisdiction of the United States. These so-called "embargo controls" consist of trade sanctions (i.e., an "embargo" in the narrow sense of the term) and prohibitions on transactions involving assets in which the designated country or its nationals have any interest. These prohibitions, known collectively as a "blocking" of assets, have an impact on refugees and expatriates, …

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Selected Problems In Wrap-Around Financing: Suggested Approaches To Due-On-Sale Clauses And Purchaser's Depreciable Basis, Sanford M. Guerin Apr 1981

Selected Problems In Wrap-Around Financing: Suggested Approaches To Due-On-Sale Clauses And Purchaser's Depreciable Basis, Sanford M. Guerin

University of Michigan Journal of Law Reform

This article will address two unresolved issues surrounding the WA transaction which result from the inherent flexibility available for negotiating financing terms in the absence of an institutional lender. Part I discusses the circumstances warranting exclusion of the WA loan from the purchaser's depreciable basis. Part II addresses whether, and when, a due-on-sale clause in the senior mortgage should negate the possibility of utilizing WA financing.

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Financing Government In A Federal System, Michigan Law Review Mar 1981

Financing Government In A Federal System, Michigan Law Review

Michigan Law Review

A Review of Financing Government in a Federal System by George F. Break

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The Propriety Of Benefit-Spreading Regulations Under The 10% Lending Limit Of The National Bank Act, Michigan Law Review Jun 1980

The Propriety Of Benefit-Spreading Regulations Under The 10% Lending Limit Of The National Bank Act, Michigan Law Review

Michigan Law Review

This Note examines whether the ten percent lending limit of the National Bank Act should be used to promote benefit-spreading. Section I evaluates the legislative and judicial history of the lending limit and concludes that Congress never intended the Comptroller to issue regulations to foster benefit-spreading. Section II examines the practical ramifications of the benefit-spreading regulations. It concludes that the lending limit cannot effectively foster benefit-spreading without undermining the risk-reducing function of the statute; that compliance with the benefit-spreading regulations is costly while the penalties for noncompliance are inappropriate and unfair; and that existing statutes better promote benefit-spreading while avoiding …

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An Empirical Analysis Of The Equal Credit Opportunity Act, James A. Burns Jr. Oct 1979

An Empirical Analysis Of The Equal Credit Opportunity Act, James A. Burns Jr.

University of Michigan Journal of Law Reform

This article will first examine the legislative history of the ECOA to discover (1) the impetus for its enactment; (2) the views of proponents and opponents of the legislation concerning the presence of credit discrimination, its proper cure, and the proposed provisions of the bills introduced to deal with the problem; and (3) the congressional intent as to the use of various credit-granting factors described by the Act. Regulation B will then be similarly examined to find out how the broad mandates of the ECOA have been made concrete for the use of creditors. Finally, the article will focus on …

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The Right To Financial Privacy Act Of 1978-The Congressional Response To United States V. Miller: A Procedural Right To Challenge Government Access To Financial Records, Nancy M. Kirschner Jan 1979

The Right To Financial Privacy Act Of 1978-The Congressional Response To United States V. Miller: A Procedural Right To Challenge Government Access To Financial Records, Nancy M. Kirschner

University of Michigan Journal of Law Reform

This article will review the factors leading to the Miller decision and the legislative response to that decision. Part I will examine the bank customer's expectation of privacy and the way Miller affects this expectation. Part II will discuss the congressional response to Miller and the competing interests which led to the Right to Financial Privacy Act. The Act itself will be discussed in detail in Part III. Part IV will evaluate the Act, and offer recommendations for reform. The article concludes that the Act, by adopting a purely procedural approach, fails to provide adequate protection to bank customers.

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Efts: Consumer Protection Under The Ucc, Susan E. Jinnett Apr 1977

Efts: Consumer Protection Under The Ucc, Susan E. Jinnett

University of Michigan Journal of Law Reform

In view of the economic significance of the payments system, the laws governing it must be equitable and comprehensive. The development of the commercial law applicable to EFTS's, however, currently lags behind the growth of these systems. Threats to the integrity of EFTS's stem from lost, stolen, or forged access cards, illegal taps into communication lines, physical impairment of the equipment, or improper programming. The legal rights and liabilities of consumers where the integrity of an EFTS has been breached remains unclear, in part because the status of EFTS's under current law is uncertain. The rights of the parties involved …

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Bank Securities Activities And The Need To Separate Trust Departments From Large Commercial Banks, Thomas J. Schoenbaum Oct 1976

Bank Securities Activities And The Need To Separate Trust Departments From Large Commercial Banks, Thomas J. Schoenbaum

University of Michigan Journal of Law Reform

This article (1) analyzes the traditional Glass-Steagall Act restrictions on banks and the leading case of Investment Company Institute v. Camp, where the Supreme Court held that the offering by commercial banks of commingled agency accounts violated the Glass-Steagall Act prohibition against underwriting securities, (2) considers the. developments since that decision, and (3) offers suggestions on an approach to devising solutions to the policy questions involved.

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Wrongful Dishonor, James J. White Jan 1976

Wrongful Dishonor, James J. White

Other Publications

Uniform Commercial Code section 4-402. I. Basic Liability II. Damages III. Miscellaneous Asides

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Imposters And Fictitious Payees, James J. White Jan 1976

Imposters And Fictitious Payees, James J. White

Other Publications

Uniform Commercial Code section 3-405. I. Basic Liabilities II. Defense and Miscellaneous Issues

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Checks Lost In The Collection Process, James J. White Jan 1976

Checks Lost In The Collection Process, James J. White

Other Publications

Given the millions of checks that are transferred among banks every year, the opportunity for loss and misplacement of such checks is enormous and the liabilities associated with such loss can be significant. This section deals with the collecting bank's liability for the check's loss before it is delivered to payer bank. If the payer bank receives and then loses the check, it will be subject to a different set of liabilities; those liabilities will be discussed elsewhere in the program.

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The Impact Of Michigan's Common-Law Disabilities Of Coverture On Married Women's Access To Credit, Michigan Law Review Nov 1975

The Impact Of Michigan's Common-Law Disabilities Of Coverture On Married Women's Access To Credit, Michigan Law Review

Michigan Law Review

In the United States, credit is indispensable to the improvement of one's economic status and life style. Its availability often dictates •the extent to which one has access to education, homeownership, entrepreneurship, and investment, and its unobtainability inhibits full participation in the activities and opportunities of American society. American women have long been systematically excluded from equal access to credit by lending institutions of all types and ·thus have been denied their rightful role in the economic life of the country. It is only recently, however, that the women's movement has begun to focus attention on credit discrimination and that …

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