Banking and Finance Law Commons^™

Regulation, Deregulation, And Happiness, Jeffrey L. Harrison

Cardozo Law Review

No abstract provided.

United States V. Ubs Ag: Has The United States Successfully Cracked The Vault To Swiss Banking Secrecy?, Eric M. Victorson

Cardozo Journal of International and Comparative Law

The article examines the legal and diplomatic efforts of the United States to combat tax evasion by American citizens using Swiss bank accounts, focusing on the landmark case of United States v. UBS AG. It highlights how the U.S. successfully challenged Switzerland's banking secrecy laws through treaty revisions and legal actions, ultimately achieving greater transparency and setting a precedent for international tax enforcement.

A Uniform Test For The Equitable Subrogation Of Mortgages, Sang Jun Yoo

Cardozo Law Review

No abstract provided.

A Comparative Legal And Economic Approach To Third-Party Litigation Funding, Marco De Morpurgo

Cardozo Journal of International and Comparative Law

This article represents the first attempt to apply a comparative legal and economic approach to the study of third-party litigation funding (TPLF) - one of the most innovative trends in civil litigation financing today. TPLF consists of the practice where a third party offers financial support to a claimant in order to cover his litigation expenses, in return for a share of damages if the claim is successful. The third party receives no compensation if the claimant loses the suit. While such practice has been rapidly developing in the common law world (Australia, United States, and United Kingdom), in the …

The Case Against Allowing Mortgage Electronic Registration Systems, Inc. (Mers) To Initiate Foreclosure Proceedings, Nolan Robinson

Cardozo Law Review

No abstract provided.

The Wisdom Of Solomon: We Cannot Split The Pre-Embryos, Bridget M. Fuselier

Cardozo Journal of Equal Rights & Social Justice

The article addresses legal challenges surrounding the status and disposition of preembryos in Assisted Reproductive Technology (ART) by proposing a modified tenancy by the entirety framework. This model seeks to balance the dignity of preembryos with legal practicality, preventing ownership disputes and emotional conflicts. It emphasizes nonseverable rights, restrictions on transfer, and exclusion from probate to ensure clarity and fairness in preembryo disposition. The framework also aims to honor the intent of deceased providers while avoiding fractional ownership and inheritance disputes.

What Role For “Women,” “Men,” And Transpeople/Intersex People In Gender Equality: A Commentary, Edward D. Stein

Articles

This has been a very rich opening panel to what promises to be a terrific conference. The panelists' comments go in such varied directions that it is a challenge to be both a commentator and summarizer, especially when I have just a few minutes to speak. What I plan to do is say a little bit to draw together some of the themes that the panelists have been talking about that are connected to a couple of topics I have been working on while at the same time trying to look forward to some of the things I hope we …

Why Brokers Are Not Investment Advisers: Erisa's Fiduciary Duty Only Applies To Those Who Provide Investment Advice To Pension Plans, Lydia S. Amamoo

Cardozo Public Law, Policy & Ethics Journal

No abstract provided.

Risk Taking, Karl S. Okamoto, Douglas O. Edwards

Cardozo Law Review

First, kill all the bankers.

-Marcus Walker & Emma Moody

With this phrase, the Wall Street Journal recently captured the sentiment driving the movement to regulate bankers' pay. While we agree that financial industry executives made poor decisions, we take issue with the recent suggestion that, to prevent the excessive risk taking that led to the recent financial crisis, we must only correct certain "perverse" compensation-related incentives. This logic, unfortunately, underpins a worldwide call to reform executive compensation in the finance industry. The precise prescriptions differ, but a common view has prevailed: If the government can dampen the incentives to …

Procedural Barriers To Civil Rights Litigation And The Illusory Promise Of Equity, Alexander A. Reinert

Articles

No abstract provided.

The Federal Rules Of Bankruptcy Procedure In Reorganization Cases: Do They Have A Constitutional Dimension?, David G. Carlson

Articles

The article examines the implications of the Supreme Court's decision in United Student Aid Funds, Inc. v. Espinosa, which significantly impacts bankruptcy law by establishing that due process in bankruptcy reorganization cases is governed by the minimalist standard set forth in Mullane v. Central Hanover Bank & Trust Co. This ruling undermines the constitutional dimension of the Bankruptcy Rules, strengthens the finality of reorganization plans under res judicata, and affects the discharge of student loans without an adversary proceeding. The decision highlights the tension between due process rights of creditors and the finality of bankruptcy court rulings, while also reshaping …

Harmonization Of International Legal Structure For Fostering Professional Services: Lessons From Early U.S. Federal-State Relations, Amar Gupta, Deth Sao

Cardozo Journal of International and Comparative Law

In the current global marketplace, liberalization of trade in professional services (services) presents both big challenges and profitable opportunities for the international community. Changes in technology and state-privatization polices over the past half century have made services the fastest growing sector in international trade. Despite such a transformation, the potential for further innovation and expansion in services industries is in jeopardy. In response to public-policy initiatives, regulatory concerns, and political pressures to protect domestic jobs and industries, states have adopted a plethora of discriminatory and restrictive policies against trade in services. Because existing international legal mechanisms are ill-equipped to resolve …

Get Stupid: Film And Law Via Wim Wenders And Others, Nathan Moore

Cardozo Law Review

No abstract provided.

"Cover My Pills": Contraceptive Equity And Religious Liberty In Catholic Charities V. Dinallo, Ayelet S. Lebovicz

Cardozo Journal of Equal Rights & Social Justice

The note  examines the tension between the New York Womens Health and Wellness Act's (WHWA) goal of promoting women's health through contraceptive access and its burden on the First Amendment rights of religious employers. It argues that while the WHWA advances significant public health interests, its contraceptive mandate imposes substantial burdens on religious freedom and free speech, necessitating strict scrutiny. The analysis critiques the New York Court of Appeals' decision for failing to fully consider the plaintiffs' hybrid-rights claims under Supreme Court precedent, highlighting the need for lawmakers to balance competing interests while adhering to constitutional protections.

Barriers To Financing: Is European Union Indirect Discrimination Law The Answer For Female Entrepreneurs?, Adam G. Panopoulos

Cardozo Journal of Equal Rights & Social Justice

The note explores whether European Union indirect discrimination law, particularly Directive 2004/113/EC, can address the barriers female entrepreneurs face in accessing financing. It examines the application of indirect discrimination principles to financial services, analyzing ECJ case law and advocating for the integration of gender mainstreaming to enhance gender equality in entrepreneurship.

When Indigenous Communities Go Digital: Protecting Traditional Cultural Expressions Through Integration Of Ip And Customary Law, Stephanie Spangler

Cardozo Arts & Entertainment Law Journal

No abstract provided.

The Wisdom Of Crowds? Groupthink And Nonprofit Governance, Melanie B. Leslie

Articles

Scandals involving nonprofit boards and conflicts of interest continue to receive considerable public attention. Earlier this year, for example, musician Wyclef Jean's Yele Haiti charity became the target of intense criticism after the charity disclosed that it had regularly transacted business with Jean and entities controlled by Jean and other directors. Although scandals caused by self-dealing undermine public confidence in the charitable sector, they continue to erupt. Why do charitable boards sanction transactions with insiders?

This Article argues that much of the blame lies with the law itself. Because fiduciary duty law is currently structured as a set of fuzzy …

A Round Peg For A Square Hole: The Mismatch Between Subprime Borrowers And Federal Mortgage Remedies, Arielle L. Katzman

Cardozo Law Review

No abstract provided.

Canceling The Deal: Two Models Of Material Adverse Change Clauses In Business Combination Agreements, Robert T. Miller

Cardozo Law Review

In any large corporate acquisition, there is a delay between the time the parties enter into a merger agreement and the time the transaction is effected and the purchase price is paid. One effect of this delay is that the business or financial condition of one of the parties may deteriorate before the deal closes. When this happens to the target in a cash deal or to either party in a stock deal, the counterparty may conclude that the transaction is no longer attractive. Merger agreements typically protect counterparties against such contingencies through material adverse change (MAC) clauses. Under the …

The Digital Currency Doppelganger: Regulatory Challenge Or Harbinger Of The New Economy?, Peter C. Tucker

Cardozo Journal of International and Comparative Law

The note argues that enacting new restrictive regulations for digital currencies in the United States is unnecessary and potentially counterproductive. It posits that existing anti-money laundering (AML) regulations are sufficient to address illicit activities associated with digital currencies. The author advocates for a wait-and-see approach, emphasizing the need for international coordination and the risks of driving the industry offshore, which could reduce regulatory oversight and tax revenue.

Alternative Dispute Resolution In Small Consensual Litigation: Too Much Of A Good Thing?, Mark S. Simms

Cardozo Journal of Conflict Resolution

The evolution of equity in tort has brought about the use of alternative methods of dispute resolution in reaching settlements in mass tort cases: "Indeed, equity is a progressive force in the law. When formal adjudication cannot provide a plain, adequate, and complete remedy, the system of ADR should be flexible enough to deliver individualized justice." It appears, however, that the use of ADR is not always a prudent exercise of the court's power, nor is it always conducive to individual justice. This Note examines the Gray case, in which the court appointed a special master, thereby assigning one man …

One Share, One Vote And The False Promise Of Shareholder Homogeneity, Grant M. Hayden, Matthew T. Bodie

Cardozo Law Review

No abstract provided.

Unprofitable Lending: Modern Credit Regulation And The Lost Theory Of Usury, Brian M. Mccall

Cardozo Law Review

No abstract provided.

The Best Pharmaceuticals For Children Act And The Pediatric Research Equity Act-Helping Or Hurting America's Children?, Lisa Jerles

Cardozo Public Law, Policy & Ethics Journal

The note examines the effectiveness of the Best Pharmaceuticals for Children Act (BPCA) and the Pediatric Research Equity Act (PREA), which were enacted to address the lack of pediatric-specific drugs and devices. While these laws have improved the availability of pediatric treatments, they face significant challenges, including short authorization periods, loopholes exploited by pharmaceutical companies, and ethical concerns related to clinical trials. The 2007 reauthorization and the addition of the Pediatric Medical Device Safety and Improvement Act have partially addressed these issues but highlight the need for further reforms to ensure safer and more effective pediatric care.

Disaster Basics: The Life Cycle Of A Disaster And The Role Of Conflict Resolution Professionals, Linda Baron

Cardozo Journal of Conflict Resolution

When things go wrong, we call it a problem and mediators may be called in to help parties affected by the problem work things out. When things go terribly wrong, we call it a disaster, and conflict resolution professionals can use their experience, abilities, and skills to help the individuals, families, businesses, communities, and public agencies in the aftermath.

Disaster Mediation: Lessons In Conflict Coordination And Collaboration, Mel Rubin

Cardozo Journal of Conflict Resolution

All of us have been affected by disasters, either directly or indirectly. Although natural and manmade disasters have occurred throughout history, the size and scale of future disasters will surely reach regional, national and international proportions. Indeed, there is now and forevermore a disaster industry, in which Alternative Dispute Resolution (ADR) professionals will certainly play an important role.

Predatory Structured Finance, Christopher L. Peterson

Cardozo Law Review

No abstract provided.

Exploring The Limits Of The Restorative Justice Paradigm: Restorative Justice And White-Collar Crime, Zvi D. Gabbay

Cardozo Journal of Conflict Resolution

Part I of this article introduces the restorative justice paradigm. It defines restorative justice and its basic values and principles and presents two theories which illustrate the goals of restorative interventions and the basic requirements for their commencement. Part II introduces white-collar crime and focuses on high-profile white-collar crime committed by corporate executives. This part discusses the centrality of white-collar crime within the criminal justice system and society in general and reviews the latest developments in legislation and sentencing policies on white-collar crime. Part III argues that the restorative justice paradigm should be applied to high-profile white-collar crime as a …

U.S. Sentencing Guidelines And Export Control Laws: How To Equate A Credit Card Transaction With A Violation Of National Security Controls Or Selling 400 Grams Of Heroin, J. Triplett Mackintosh, Danielle R. Voorhees

Cardozo Public Law, Policy & Ethics Journal

The article critiques the application of section 2M5.1 of the U.S. Sentencing Guidelines (USSG) to criminal violations of the Office of Foreign Asset Control (OFAC) regulations, arguing that such application is overly broad and misaligned with the severity of offenses. It contends that treating minor transactions with embargoed countries as equivalent to national security threats or terrorism support is inappropriate, as these regulations often involve malum prohibitum offenses that are not inherently malicious.

The World Bank And The Ideology Of Reform And Development In International Economic Development Discourse, Joel M. Ngugi

Cardozo Journal of International and Comparative Law

Is the current development reform agenda, especially the one operationalized by the World Bank, Ideological? If so, does it matter? These are the two questions that animate this article. In answering both questions in the affirmative, the article first demonstrates how the current development reform agenda is Ideological. It then discusses why and how it matters that the development reform agenda is Ideological. First, the article argues that Ideological rendering of the development reform agenda effectively weakens the ability of Third World countries to articulate their economic and foreign policies in ways that would benefit their citizenry the most. Second, …