Banking and Finance Law Commons^™

Shareholders' Rights To A Cause Of Action Under The Investment Company Act Of 1940 Following Exxon Mobil V. Allapattah, 39 J. Marshall L. Rev. 1521 (2006), Renee Labuz

UIC Law Review

No abstract provided.

Odious Debt Or Odious Payments - Using Anti-Corruption Measures To Prevent Odious Debt, Anita Ramasastry

Articles

This article focuses on ways to stem the tide of odious payments and to stop such payments, when made, from moving offshore into foreign bank accounts. To the extent that such payments leave a country, fewer funds are available to repay sovereign debts in the event of a regime change, or to feed and shelter the population. This article focuses on emerging anti-corruption mechanisms as a means of dealing with odious payments and odious debt. It also focuses on the role of financial institutions (banks) as gatekeepers. Part I of this article focuses on the way in which banks are …

The $7 Trillion Question: Mutual Funds & Investor Welfare - Overview And Update, Margaret A. Bancroft, Jay G. Baris, Lisa Fairfax, Tamar Frankel

Journal of Business & Technology Law

No abstract provided.

The $7 Trillion Question: Mutual Funds & Investor Welfare - Mutual Funds & Corporate Governance, Lucien Bebchuk, Timothy Forde, Michael Garland, Henry Hopkins

Journal of Business & Technology Law

No abstract provided.

How Did We Get Into This Mess?, Tamar Frankel

Journal of Business & Technology Law

No abstract provided.

The Martin Act: An Overview, Frank C. Razzano

Journal of Business & Technology Law

No abstract provided.

"Contracting" For Credit, Ronald J. Mann

Faculty Scholarship

On a recent day, I used my credit cards in connection with a number of minor transactions. I made eight purchases, and I paid two credit card bills. I also discarded (without opening) three solicitations for new cards, balance transfer programs, or other similar offers to extend credit via a credit card. Statistics suggest that I am not atypical. U.S. consumers last year used credit cards in about 100 purchasing transactions per capita, with an average value of about $70. At the end of the year, Americans owed nearly $500 billion dollars, in the range of $1,800 for every man, …

Global Administrative Law: The View From Basel, Michael S. Barr, Geoffrey P. Miller

Articles

International law-making by sub-national actors and regulatory networks of bureaucrats has come under attack as lacking in accountability and legitimacy. Global administrative law is emerging as an approach to understanding what international organizations and national governments do, or ought to do, to respond to the perceived democracy deficit in international law-making. This article examines the Basel Committee on Banking Supervision, a club of central bankers who meet to develop international banking capital standards and to develop supervisory guidance. The Basel Committee embodies many of the attributes that critics of international law-making lament. A closer examination, however, reveals a structure of …

Remapping The Charitable Deduction, David Pozen

Faculty Scholarship

If charity begins at home, scholarship on the charitable deduction has stayed at home. In the vast legal literature, few authors have engaged the distinction between charitable contributions that are meant to be used within the United States and charitable contributions that are meant to be used abroad. Yet these two types of contributions are treated very differently in the Code and raise very different policy issues. As Americans' giving patterns and the U.S. nonprofit sector grow increasingly international, the distinction will only become more salient.

This Article offers the first exploration of how theories of the charitable deduction apply …

Adding Adequacy To Equity: The Evolving Legal Theory Of School Finance Reform, Richard Briffault

Faculty Scholarship

The law of school finance reform is conventionally described as consisting of three waves, each associated with a distinctive legal theory – a first wave based on federal equal protection arguments, a second equity wave based on state equal protection clauses, and a third adequacy wave based on state constitutional education articles. The asserted shift from equity to adequacy has been credited with the increasing success of school finance reform plaintiffs.

The wave metaphor and especially the differences between the second and third waves, however, have been sharply overstated – temporally, textually, in terms of litigation success, and as a …

The Supreme Court, The Solicitor General, And Bankruptcy: Bfp V. Resolution Trust Corporation, Ronald J. Mann

Faculty Scholarship

This chapter tells the story behind BFP v. Resolution Trust Corporation. I see BFP as a case that pitted relatively plain statutory language supporting the debtor-in-possession against policy interests supporting a secured creditor. I argue that an important explanation for the Supreme Court's decision to favor policy over the language of the statute was its perception of a need to protect the availability of non-bankruptcy remedies for secured creditors. Accordingly, I situate my discussion of BFP in the context of the role that the federal government has played in the Supreme Court's cases interpreting the Bankruptcy Code. In general, I …

Self-Regulation For Safety And Security: Final Minutes Or Finest Hour?, Douglas C. Michael

Law Faculty Scholarly Articles

The terrorist attacks of September 11, 2001, and the accounting and auditing crisis later caused by the Enron and Worldcom scandals of that same year, created a great sense of insecurity in many Americans. In this Article, I analyze the federal government's response to crisis. I first define what a crisis is: a sudden, existential threat to which the entity has insufficient resources to respond. I then explain how regulation for safety and security is unique in two aspects: perceptions matter, and the assistance of the regulated entities is essential. I proceed by describing and analyzing the regulatory history and …

Constitutional Cash: Are Banks Guilty Of Racial Profiling In Implementing The United States Patriot Act?, Cheryl R. Lee

Michigan Journal of Race and Law

This Article begins by comparing the concerns of American racial profiling to current terrorism concerns. Part II is an overview of the Bank Secrecy Act and its role in privacy issues concerning bank customers (as the predecessor to the USA Patriot Act). Here, the value of traditional reporting devices, specifically CTRs and SARs used by banks to alert law enforcement to possible terrorist activities, are discussed and evaluated. The facts suggest these reports have been ineffective in identifying terrorists, and have not only greatly infringed upon First Amendment privacy rights, but also diminished the Fourth Amendment protection against warrant-less searches …

What's Your Sign? -- International Norms, Signals, And Compliance, Charles K. Whitehead

Michigan Journal of International Law

This Article proposes a new approach to understanding state compliance with international obligations, positing that increased interaction among the world's regulators has reinforced network norms, as evidenced in part by a greater reliance among states on legally nonbinding instruments. This Article also begins to fill a gap in the growing scholarship on state compliance by proposing a better framework for understanding how international norms influence senior regulators and how they affect both state decisions to comply as well as levels of compliance.

Who Should Recover What For Late Trading And Market Timing?, Richard A. Booth

Journal of Business & Technology Law

No abstract provided.

International Rule Of Law And The Market Economy - An Outline, Samuel Bufford

Faculty Scholarship

Law matters in economic development. The Rule of Law is an indispensable foundation for a market economy, which provides an essential environment for the creation and preservation of wealth, economic security, and well-being, and the improvement of the quality of life. The Rule of Law is part of the "software" of governmental regulation that is needed to operate the "hardware" of free markets. Its promotion can make a major contribution to economic growth, and an infrastructure that creates and promites legal rights is an essential platform for economic development. The cumulative costs of doing without the Rule of Law in …

Bankruptcy And State Collections: The Case Of The Missing Garnishments, Richard M. Hynes

Faculty Publications

Recent bankruptcy reforms were spurred in part by a bankruptcy filing rate that has more than doubled in the last ten years and that has risen by approximately six hundred percent over the last generation. Some attribute this surge in filings to Americans' greater willingness to avoid debts by declaring bankruptcy. Most academics, however, argue that more Americans are forced into bankruptcy by crushing debt burdens and aggressive collections techniques. Surprisingly, the literature has largely ignored data on the use of these collections techniques. This Article examines the use of one of the most important collections tools, garnishment, in two …

Of Takeovers, Foreign Investment And Human Rights: Unpacking The Noranda-Minmetals Conundrum, Aaron A. Dhir

Articles & Book Chapters

In September 2004 Toronto-based Noranda Inc., one of the world's largest producers of nickel and copper, and China Minmetals Corp., a state-owned Chinese company, announced exclusive talks regarding a potential 100 percent buy-out of Noranda. The proposed friendly takeover was expected to be valued at approximately $7.4 billion USD. The dynamic shifted, however, in mid-November when Noranda announced that the exclusivity period for negotiations had expired and would not be renewed. In early March 2005 Noranda expressed frustration at the continuing lengthy process, which was depressing its share value. At the time, Noranda owned 59 percent of leading Canadian nickel …

Just What The Doctor Ordered: Is It Time For Your Bank To Start Offering A Health Savings Account (Hsa)? Here's What You Need To Know About This New Product, Rachel Juhas Suddarth

Law Faculty Publications

In recent years. The ever-increasing cost of health insurance has left many consumers and employers desperate for lower-cost coverage options. As a result, employers are moving away from expensive defined-benefit plans to alternatives that offer higher deductibles in exchange for a reduction in premium costs. The health savings account (HSA) grew out of this quest for choice. The HSA was designed as a tax-efficient way for consumers with high-deductible plans to pay for health costs accrued before the insurance kicked in. These high-deductible plans are touted as being more affordable for both employers and consumers as well as for having …

Credit Where It Counts: Maintaining A Strong Community Reinvestment Act, Michael S. Barr

Articles

The Community Reinvestment Act (CRA) has helped to revitalize low- and moderate-income communities and provided expanded opportunities for low- and moderate-income households. Recent regulatory steps aimed at alleviating burdens on banks and thrifts are unwarranted, and may diminish small business lending as well as community development investments and services. This policy brief explains the rationale for CRA, demonstrates its effectiveness, and argues that the recent regulatory proposals should be withdrawn or significantly modified.

The $7 Trillion Question: Mutual Funds & Investor Welfare - Alternative Structures And Strategies For Investors, Richard A. Booth, Michael Degeorge, Joseph Hardiman, Henry Hu

Journal of Business & Technology Law

No abstract provided.

Panel Discussion: Bigger Carrots And Bigger Sticks: Issues And Developments In Corporate Sentencing, Jill E. Fisch, Hon. John S. Martin, Richard C. Breeden, Timothy Coleman, Stephen M. Cutler, Celeste Koeleveld, Richard H. Walker

Fordham Journal of Corporate & Financial Law

No abstract provided.

State Action Antitrust Exemption Collides With Deregulation: Rehabilitating The Foreseeability Doctrine, Elizabeth Trujillo

Fordham Journal of Corporate & Financial Law

No abstract provided.

The Political Dynamics Of Corporate Legislation: Lessons From Israel, Yael T. Ben-Zion

Fordham Journal of Corporate & Financial Law

No abstract provided.

Symposium Religious Values And Corporate Decision Making: An Interdisciplinary Interfaith Conference For Corporate Executives And Legal Counsel, Amelia J. Uelmen, William Michael Treanor

Fordham Journal of Corporate & Financial Law

No abstract provided.

Symposium Panel One: Does Corporate Decision Making Allow Room For Religious Values, Russell G. Pearce, Steven H. Resnicoff, Mark A. Sargent, W Bradley Wendel

Fordham Journal of Corporate & Financial Law

No abstract provided.

Symposium Panel Three: Viable Models: Shareholder Resolutions, Patricia Daly, Rabbi Mordechai Liebling

Fordham Journal of Corporate & Financial Law

No abstract provided.

Symposium Panel Two: Managing As If Faith Matters, Talat Ansari, Charles M.A Clark, Joseph E. Geoghan

Fordham Journal of Corporate & Financial Law

No abstract provided.

Jewish Law And Socially Responsible Corporate Conduct, Steven H. Resnicoff

Fordham Journal of Corporate & Financial Law

No abstract provided.

Symposium Final Discussion, Robert Hurley

Fordham Journal of Corporate & Financial Law

No abstract provided.