Banking and Finance Law Commons^™

ثوابت وتساؤلات فإمكانية حلول فيما خص إيفاء الديون المحررة بالعملة الأجنبية في ظل الأزمة المالية, ݒول الحاج شاهين

Proche-Orient, Études juridiques

The seminar entitled “Repayment of Debts Denominated in Foreign Currency Amid the Financial Crisis” addresses the severe financial turmoil Lebanon has been experiencing since the end of 2019, marked above all by the sharp depreciation of the Lebanese pound. This collapse created profound difficulties in repaying debts denominated in foreign currency, and in some cases made repayment impossible. The issue is closely tied to Lebanon’s reliance on foreign currencies, particularly the U.S. dollar. Anticipating such risks, many Lebanese citizens had safeguarded their savings by depositing them in banks in foreign currency, as protection against the recurring devaluation of the national …

Les Banques Libanaises Sont-Elles En État De Cessation De Payement ?, Antoine Fares Eid

Proche-Orient, Études juridiques

To the question : “Are the Lebanese banks in cessation of payment ?”, the answer is obviously yes according to both the special definition of the cessation of payment of banks in the Intra law no. 2/1967, and the general definition of the “cessation of payment” in the Code of commerce (article 489). The legal scrutiny so confirms the common “feeling” of obvious bankruptcy of the banks for almost three years. In parallel, are refuted the exceptions opposed by the banks, such as the alleged payment by cheques which are actually “cheques sans provision”, or “ …

La Levée Du Secret Bancaire Au Liban, Karim Daher

Proche-Orient, Études juridiques

The Banking Secrecy Law, adopted in Lebanon in 1956, formally prohibited banks and their personnel from disclosing any information relating to their clientele to any public or private party. The purpose of enacting this law was to attract financial inflows to Lebanon in the 1950s and 1960s, a period that coincided with the oil boom in Gulf countries, and nationalization processes in neighboring Arab countries, especially Egypt and Syria, as well as later from wealthy Gulf oil monarchies. While this legislation ensured the protection and confidentiality of these deposits, it weakened tax citizenship, promoted a culture of corruption and impunity, …

Le Secret Bancaire Libanais À L’Épreuve Des Contraintes De La Coopération Internationale, Youmna Zein Hayek

Proche-Orient, Études juridiques

The Banking secrecy law which was promulgated in 1956 is undoubtedly one of the pillars of the Lebanese banking system. The stringent provisions of the law require banks to maintain the absolute secrecy of their clients’ information, except in some limited cases. However, Lebanon has lately joined the global community’s effort to fight money laundering and terrorism financing including tax evasion. As a result, new laws were enacted whereby new circumstances trigger the release of the banking secrecy. This article examines the impact of the new laws and regulations on the scope of the Lebanese banking secrecy system.

Réflexions Sur La Monnaie Et La Banque Au Liban, Antoine Merheb

Proche-Orient, Études juridiques

Banks and currencies have always been intimately linked and the problems suffered by one affect inevitably the other. This article which recalls the history of the contemporary national currency tries to enlighten the causes of the most serious monetary crisis that Lebanon has incurred since its independence in 1943 and the deleterious effects of this crisis on the Lebanese banking sector which is, in part, responsible for having blindly followed, not always under duress, the policy drawn up by the central bank and which only found, to escape total bankruptcy, to hang on to the unlimited liberating power of a …

Fireside Chat | Shawn Kodes ’07: Asset-Backed Finance: A Guide For Future Lawyers, Ronald H. Filler Institute For Financial Services Law

Ronald H. Filler Institute for Financial Services Law

April 21, 2026

Fiscal And Foreign Relations Dimensions Of Financial Stability Regulation, Ilya Beylin

Villanova Law Review (1956 - )

No abstract provided.

Crossed Wires: How Current Federal Laws And Regulations Are Inadequate At Protecting Consumers From Sophisticated Wire Fraud Schemes, Emily Brafman

University of Miami Business Law Review

The shift to digital banking has redefined the financial services industry, allowing consumers to conduct everyday transactions, such as wire transfers, at the touch of a button. However, this convenience comes at a steep price: as digital banking becomes the norm, consumers are increasingly exploited by sophisticated cybercriminals, enabled by a legal system that is ill-equipped to handle modern phishing and wire fraud schemes, ultimately draining consumer accounts. Unfortunately, existing protective measures, such as the Electronic Funds Transfer Act (EFTA) and the Uniform Commercial Code (UCC), have proven to be outdated and inadequate to address the unique risks posed by …

Resolving Bankruptcy's Non-Voting Impaired Class Issue Using The Nonfactor Solution, Jacob Harrington

Texas A&M Law Review

In chapter 11 bankruptcy voting procedures, the issue of non-voting impaired classes can be a complicated issue, but the Southern District of Texas’s new “nonfactor” approach can be used as a lens through which different solutions to this issue may be understood. The United States Bankruptcy Code states that a bankruptcy plan may only be confirmed if every impaired class votes to accept the plan. But despite the statute’s apparent clarity, different jurisdictions’ solutions vary, some deeming non-voting impaired classes to plan. This Note demystifies the Bankruptcy Code’s approach to this matter, examines the different jurisdictional approaches to this issue, …

Hyperbole In The Capital Stack: Are We Misreading Lender Intent? Liability Management Transactions And The Implied Covenant Of Good Faith And Fair Dealing, Daniel R. Janel

Cardozo Law Review

The hasty characterization and overall sentiment surrounding Liability Management Transactions (“LMTs”) as “hostile” strategies that promote “lender-on-lender violence” attempt to misapply the implied covenant of good faith and fair dealing under New York law, which serves as a gap-filler rather than a “contract buster.” Although the covenant’s proper function is to protect parties’ reasonable expectations that they will receive the fruits of their bargain, it does not purport to rewrite or impose on carefully negotiated credit agreements. Sophisticated parties enter into meticulously crafted credit agreements with full awareness of the breadth and scope of their provisions. Only after finding themselves …

Selective Flexibility: The Hidden Evolution Of Startup Corporate Law, Alvaro Pereira

Cardozo Law Review

This Article challenges the longstanding assumption that corporate law is largely irrelevant to non-listed companies and venture capital ( “VC”). Through a novel cross-country legal index covering twenty years and twelve jurisdictions, this Article shows that corporate laws have evolved through a process of “selective flexibility,” where certain legal barriers to VC deals are lifted, while others are stealthily preserved. For example, numerous reforms have enabled multiple-vote shares, but few have authorized the customization of board powers, limiting the universe of founder-investor agreements—and, ultimately, the development of startup ecosystems and VC markets.

Drawing on a comprehensive dataset of billion -dollar …

Fireside Chat | Victor Suthammanont '05: Financial Services Law 101, Ronald H. Filler Institute For Financial Services Law

Ronald H. Filler Institute for Financial Services Law

April 1, 2026

The Offshore Origins Of Regulatory Arbitrage, Ian J. Murray

William & Mary Business Law Review

Especially since the 2007–08 financial crisis, commentators have seized on the term “regulatory arbitrage” to describe a sprawling range of strategic compliance behavior spanning diverse sectors of the contemporary economy. Despite the term’s prevalence, there is scant agreement on the scope of activities it describes. To some, it has become a catch-all for legal avoidance from time immemorial. Such an expansive understanding obscures the context that led the term to acquire salience and fosters a fatalist view that all regulation is futile. Resisting this trend, this Article answers calls to situate regulatory arbitrage in a richer socio-historical context. Tracing the …

Is It Credit?, Jim Hawkins

William & Mary Law Review

Earned wage access companies advance money to workers based on wages they have already earned but have not yet been paid. Then, one of three things happens to reimburse the earned wage access provider: (1) the worker’s employer sends the provider money directly, (2) the provider withdraws money from the worker’s bank account on payday, or (3) nothing. The last of these is the most interesting. If the earned wage access provider does not receive the funds from the worker’s employer or bank account, the worker just walks away. Even more remarkable, many providers do not charge any mandatory fees …

Article Iii's Constraints On The Legislative Power, Elizabeth Beske

Scholarly Articles in Law Reviews & Journals

Article III’s heightened concreteness standard for statutory harms takes federal judges deep into legislative terrain, jeopardizing statutory damage provisions and confining Congress to post hoc solutions rather than preemptive strikes. The Supreme Court has insisted that creating a cause of action is a legislative function. At the same time, its recent standing cases instruct lower federal courts to permit suit on statutory injuries only when they find actual harm that bears a tight connection to injuries recognized at common law. This new harm requirement rests uneasily with countless statutes featuring statutory damage provisions that are in place precisely because damages …

Tokenized Real Estate: The Law And Tech Of Digital Deeds, Christopher K. Odinet, Andrea Tosato

Faculty Scholarship

The advent of blockchain technology has generated bold claims that non-fungible tokens (NFTs) can fundamentally transform real estate. Proponents assert that digital assets can tokenize real property interests: the concept of using digital tokens to represent ownership rights in physical property. Their goal is to allow buyers and sellers to transfer real estate through simple blockchain transactions, thereby eliminating traditional intermediaries, reducing costs, and accelerating deal velocity. This Essay provides the first comprehensive legal analysis examining whether American law actually supports such a direct tokenization of real estate rights.

Our investigation reveals a stark disconnect between technological capability and legal …

"Tuah Much To Handle": Why The Current Oversight On Cryptocurrency Is Insufficient, Adam Gross

University of Cincinnati Law Review

No abstract provided.

Cbdcs Vs Decentralized Currencies: Considerations For 21st Century Global Financial Challenges, Andrew Michael Sobhy, Shuai Wang

The Downtown Review: An Interdisciplinary Journal Written and Peer-Reviewed by Mandel Honors College Students at Cleveland State University

As digital currencies gain prominence in everyday life, policymakers in the United States at the federal, state, and local levels debate the potential for innovation, surveillance, global relations, and a plethora of areas that concern citizens. While existing literature highlights the opportunities and pitfalls within this new digital age, including inclusivity and challenges to traditional banking, this study aims to contribute a quantitative approach to the discussion utilizing Federal Reserve data, studies from financial institutions, and various credible resources that hold a stake. Specifically, comparing novel Central Bank Digital Currency (CBDCs) and Decentralized Financial Currencies (DeFi) will provide a foundation …

Enforcing The Community Reinvestment Act, Jeremy C. Kress, Jeffery Y. Zhang

Law & Economics Working Papers

Nearly fifty years after the Community Reinvestment Act of 1977 (CRA) required banks to serve low- and moderate-income (LMI) areas, the systematic exclusion of disadvantaged communities from the mainstream financial system persists. This Article identifies a novel explanation for the CRA's limited impact: its enforcement mechanisms are ineffective.The CRA operates through two enforcement channels. Regulators must (1) consider a bank's CRA record when the bank seeks permission to merge or expand, and (2) publish periodic assessments of each bank's CRA performance. Using twenty years of CRA data, we show that neither enforcement mechanism works as intended. Banks strategically increase CRA …

Does Article I Of The Constitution Prohibit The States From Creating Their Own Cryptocurrencies?, Kevin Fontenot

William & Mary Bill of Rights Journal

The market for cryptocurrency (crypto) has exploded in size since the first cryptocurrency, Bitcoin, was created in 2009. As of September 4, 2024, the value of all existing cryptocurrency was $2.02 trillion. On November 14, 2024, this value reached a high of $3.2 trillion, apparently in response to the election of pro-crypto President Donald Trump. Despite the fact that cryptocurrencies have been at the forefront of many high profile scandals, consumers still flock to them. For example, celebrities including Hailey Welch (colloquially known as “Hawk Tuah girl”), Logan Paul, and Jason Derulo have been criticized for allegedly goading consumers into …

Unlocking The Corporate Governance Potential Of Mutual Fund Investors, Jeffrey Manns

Nevada Law Journal

America’s mutual fund governance has long consisted of a system of money manager dominance and shareholder impotence. While mutual funds pool together unprecedented sums of capital, investors historically have had no meaningful role in governance and have faced a choice of “love it or leave it” when it comes to their investments in mutual funds.

The controversy over mutual fund managers’ advocacy of Environmental, Social, and Governance (ESG) principles in portfolio companies has reinvigorated interest in repairing the dysfunctional principal-agent relationship between investors and money managers. The management of BlackRock, the world’s largest money manager, ignited an ESG voting controversy …

Bankrupt Crypto Organizations, Kara Bruce, Christopher K. Odinet, Andrea Tosato

Faculty Scholarship

This Article provides the first comprehensive analysis of the intersection between decentralized autonomous organizations (DAOs) and American bankruptcy law. DAOs are blockchain-based entities that enable individuals to pursue common goals using decentralized decision-making and automated governance. Since their recent emergence, DAOs have proliferated dramatically—with over 20,000 organizations managing over $20 billion in assets and engaging in activities ranging from investment management to real estate and even attempting to purchase historic copies of the U.S. Constitution. Yet like any other organization, DAOs can fail, creating an urgent need to understand what happens when unstoppable code meets immovable bankruptcy law.

Our investigation …

Recommendations For Developing A Regulatory Sandbox And A Comprehensive Legal Framework For Fintech In Vietnam - Part Ii, Sue M. Altmeyer, Phan Dang Hai

Akron Law Faculty Publications

Fintech, a product of the 4.0 revolution, has experienced rapid growth in Vietnam, attracting significant attention from investors and government agencies. In encouraging innovation, the authors write, the need for a practical legal framework to regulate fintech activities has become a critical issue. The authors believe that this new legal framework should include a regulatory sandbox, which would allow fintech startups to test their products in a controlled environment, helping to mitigate risks, foster creativity, and enhance regulatory oversight. This two-part article discusses challenges in creating and implementing a regulatory sandbox and provides recommendations for overcoming these hurdles. The first …

Peran Ojk Dalam Pencegahan Fraud Pada Equity Crowdfunding: Studi Perbandingan Dengan Mekanisme Pengawasan Perbankan, Amanda Amelia Rizki, Ina Kurnia Savitri, Irsya Bakhtiar

Technology and Economics Law Journal

This study examines the role of the Financial Services Authority (Otoritas Jasa Keuangan/OJK) in preventing fraud in the implementation of Equity Crowdfunding (ECF) in Indonesia and compares it with the supervisory mechanisms of the banking sector, which are based on the prudential principle. Using a normative juridical approach and a comparative regulatory study, the research finds that although Financial Services Authority Regulation No. 17 of 2025 concerning the Offering of Securities through Information Technology Based Crowdfunding Services (POJK No. 17 of 2025) has strengthened the regulatory framework for ECF through licensing requirements, off-site and on-site supervision, issuer due diligence obligations, …

Mansion Markets: Re-Evaluating The Treatment Of Customs Unions In Antidumping Cases, Devin Humphreys

Mercer Law Review

Some customs unions look like glorified trade deals, while other customs unions look like nation‑states in the making. Since 1979, U.S. trade law has treated both kinds of customs unions the same, but this state of affairs ignores the variety of ways in which some (though not all) modern customs unions are remarkably economically integrated. Presidents from both parties have treated the European Union as a singular entity in regulating foreign trade with their Section 232 authority, and more recently, the current presidential administration has issued ad valorem tariffs against the European Union as a bloc. But due to a …

The Culture Cure: Behavioral Supervision And The Regulation Of Financial Institutions, David B. Lourie

Mercer Law Review

This Article advances a normative claim: U.S. financial regulators must move beyond primarily adversarial, enforcement-driven models and adopt behavioral supervisory tools—particularly elements of culture assessments—to proactively help guide ethical firm conduct and mitigate systemic risk. Importantly, the proposal here is incremental and resource-efficient. Many recommendations place the onus on firms to assess and demonstrate their culture, while regulators set expectations, review outputs, and selectively verify findings. The framework proceeds in progressive stages—beginning with voluntary, partnership-based initiatives, moving toward light-touch integration within existing examinations, and scaling only where persistent governance weaknesses or systemic risks warrant closer attention. This tiered approach reflects …

Monetary System Upgrade Driven By Financial Technology: Path Exploration And Practical Insights Based On E-Cny, Chen Chen, Hong Chi, Ping Zhang, Yilei Liang

Bulletin of Chinese Academy of Sciences (Chinese Version)

Financial technology (fintech) is a key variable reshaping national financial competitiveness, and promoting the digital upgrade of the monetary system is a core task in building a financially strong nation. As a pivotal component of the monetary system, the electronic Chinese yuan (e-CNY), based on its inherent fintech attributes, serves as a critical practice for driving the monetary system towards a more advanced stage of evolution. Currently, the traditional monetary system faces three major challenges: low efficiency and high risks in cross-border payments, structural attenuation in monetary policy transmission, and a lack of digital safe-haven assets. Starting from the pilot …

Outbound Investment Restrictions And International Law’S Challenge, Harlan Grant Cohen

Seattle University Law Review

The Outbound Investment Rule, restricting U.S. investment in certain Chinese advanced technology sectors, has largely been portrayed as an incremental measure, a modest extension to fill loopholes in the existing investment screening regime. But while perhaps the logical next step in the securitization of the economy, the Outbound Investment Rule actually reflects a momentous shift in the relationship between governments and business, one playing out in the United States and around the world and worth attention. Unlike traditional investment screening, the Outbound Investment Rule operates like a sanctions regime, designed not to protect the U.S. economy, but to hamper the …

Navigating Compliance In A Geopolitical Era: The Case Of Chinese Multinationals In The United States, Ji Li

Seattle University Law Review

This Article examines how Chinese multinational companies (MNCs) approach compliance in the United States amid deepening geo-political rivalry and intensified regulatory scrutiny. Drawing on original survey data, this Article maps variations in compliance structures, staffing, and governance mechanisms across Chinese firms and identifies key determinants such as industry-specific regulatory intensity, listing status, and organizational imprinting from headquarters. The analysis employs a dual institutional framework to explain how compliance systems emerge from the interplay between host-state regulatory demands and home-state institutional legacies, producing hybrid structures that blend local adaptation with headquarters-driven replication. Findings reveal that while certain compliance features—such as committee …

Volume 49 Masthead

Seattle University Law Review

Volume 49 Masthead