Banking and Finance Law Commons^™

Banking, Payments And Negotiable Instruments, Benjamin Geva

Osgoode Course Casebooks

Course number: 2420.04

Going Green: Legal Considerations For Marijuana Investors And Entrepreneurs, Frank Robison

American University Business Law Review

No abstract provided.

The Greek Debt Crisis: The Need For "Heroic" Economic Policy Reforms In The European Economic And Monetary Union, Peter Robbins

Indiana Journal of Global Legal Studies

Greece is in the midst of a devastating economic and financial crisis that the European Union has been trying ardently to resolve since the default of Lehman Brothers in 2008. A significant number of other European Union (EU) Member States are also in crisis due to various state-level economic and monetary causes. Meanwhile, the European Union has consistently used the existing treaty articles and legislation within its competence to impose traditional and homogenized austerity measures on highly indebted Member States, most notably Greece. In sum, the European Union has zealously advocated for fiscal conservatism driven by the German "diber-fear" of …

Regulating For The First Time The Decision To Grant Consumer Credit: A Look At The First Steps Taken By The United States And Australia, Jeffrey Davis

UF Law Faculty Publications

In this Article, I discuss the changes in three consumer-credit realms. First, I compare the Australian regime applicable to all forms of consumer credit granting, including mortgage lending, to the American regulation of the consumer mortgage-granting decision. Second, I compare the Australian and American approaches to the decision to authorize use of, or increase the credit limit on, individual credit cards. Third, I compare the two approaches to regulating small short-term loans, usually called payday loans. Finally, I compare the enforcement regimes of both countries — perhaps the key to it all.

The Comprehensive Capital Analysis And Review And The New Contingency Of Bank Dividends, Robert F. Weber

Faculty Publications By Year

Historically, bank regulators have restricted bank dividends as part of a larger effort to preserve banks’ capital and make them more able to withstand losses. In today’s dynamic banking markets, the formulaic and rigid ways by which regulators have traditionally policed dividends have become anachronistic. Against this background, the Federal Reserve Board has attempted to update and reinvigorate dividend regulation through two regulatory reforms: (1) the Comprehensive Capital Analysis and Review (CCAR) program and (2) the Dodd-Frank Act stress testing program.

This Article explores the important practical and theoretical implications that result from these regulatory reforms. As a practical matter, …

Post-Crisis Reform Of The Supervisory System And High Reliability Theory, Robert F. Weber

Georgia Law Review

Post-crisis reforms of the financial supervisory system have focused on improving the resilience of individual firms and promoting containment of problems in the event that an individual firm does fail. Both resilience and containment are hallmarks of "high reliability organizations" (HROs), a class of organizations distinguished by their ability to maintain reliable performance in dynamic operating conditions.' In the organizational context, resilience is about making organizations more robust to unexpected problems and stresses, and able to maintain performance across a wide range of unanticipated stressed outcomes. Containment is about isolating organizational failures so that when they occur, they do not …

Reforming The Regulation Of Community, Tanya D. Marsh

Indiana Law Journal

The regulatory framework for financial institutions in the United States imposes significant costs on community banks without providing benefits to consumers or the economy that justify those costs. The Dodd-Frank Wall Street Reform and Consumer Protection Act builds on decades of “one-size-fits-all” regulation of financial institutions, an ill-conceived regulatory strategy that puts community banks at a competitive disadvantage as compared with their larger, more complex competitors. The imposition of regulatory burdens on community banks without attendant benefits ultimately harms both consumers and the economy by (1) forcing community banks to consolidate or go out of business, furthering the concentration of …

Dollar Unilateralism: The New Frontline Of National Security, Suzanne Katzenstein

Indiana Law Journal

This Article makes three points. First, it draws attention to a profound shift toward “dollar unilateralism” by the U.S. government as it advances core national security goals. Relying on the special status of the U.S. dollar, the government has enlisted foreign banks to isolate targeted entities and track illicit financial flows. Second, drawing on examples such as Iran’s nuclear program, the Article identifies three formal and informal legal tactics the government has used to implement dollar unilateralism: financial sticks, high-profile blacklists, and direct diplomacy. Finally, the Article discusses the efficacy of dollar unilateralism and its implications for U.S. accountability. Dollar …

Industry Career Guide: Banking And Finance, Tereso S. Tullao Jr, Roberto Raymundo

Angelo King Institute for Economic and Business Studies (AKI)

The banking and finance sector performs a critical function in the Philippine economy as it is primarily responsible for the mobilization of domestic savings and the conversion of these funds into directly productive investments. Financing the needs of firms which desire to raise productive capacity by purchasing additional capital equipment, acquiring or leasing idle property, building and expanding factories, and increasing inventory are responsible for sustaining economic growth in the long term, alongside the creation of new jobs. It is very important for the banking and finance sector to continue finding ways to encourage households to save their unspent income …

A Tale Of Two Kadis: Kadi Ii, Kadi V. Geithner & U.S. Counterterrorism Finance Efforts, Douglas Cantwell

National Security Law Program

The European Court of Justice's final decision in Kadi II-Yassin Abdullah Kadi's challenge in Europe to his designation as an international terrorist financier has stimulated significant discussion on the relationship between European and international law. Less attention has been paid to the Kadi II's correlate in US. courts, Kadi v. Geithner, decided in the D.C. Circuit. The varying outcomes in these cases create a "transnational split record" that has implications for reform of multilateral counterterrorism sanctions.

This Note considers the impact of Kadi's legal challenges in the United States and Europe from the perspective of U.S. counterterrorism policy. …

Merger And Acquisition Due Diligence: A Proposed Framework To Incorporate Data Privacy, Information Security, E-Discovery, And Information Governance Into Due Diligence Practices, James A. Sherer, Taylor M. Hoffman, Eugenio E. Ortiz

Richmond Journal of Law & Technology

Merger and Acquisition or “M&A” deals are both figuratively and literally big business, where the stakes for the organization are often the highest. While casual observers might expect that the importance attached to these deals makes each new deal the vanguard for incorporating metrics and practices regarding every efficiency and contingency, existing research demonstrates that this is decidedly not the case.

California Bank & Trust V. Lawlor: A More Certain Future For California's Sham Guarantee Defense, Brett D. Young

Loyola of Los Angeles Law Review

No abstract provided.

Sustainability Reporting And New Governance: South Africa Marks The Path To Improved Corporate Disclosure, Ruth Jebe

Cardozo Journal of International and Comparative Law

The past decade has seen a dramatic increase in corporate disclosure of environmental and social information in the form of sustainability reporting. This growth trajectory, coupled with dissatisfaction with current reporting schemes, has fueled debate over the future of sustainability reporting. The discussion consists primarily of criticism of existing reporting systems and is often polarized between proponents of continued voluntary reporting and proponents of increased mandatory reporting. Missing from the debate is a critical recognition: the shortcomings of existing reporting mechanisms reflect the public policy drawbacks of the processes that created them.

This Article addresses the question of how to …

Rules Of Thumb For Intercreditor Agreements, Edward R. Morrison

Faculty Scholarship

Intercreditor agreements frequently restrict the extent to which subordinated creditors can participate in the bankruptcy process by, for example, contesting liens of senior lenders, objecting to a cash collateral motion, or even exercising the right to vote on a plan of reorganization. Because intercreditor agreements can reorder the bargaining environment in bankruptcy, some judges have been unsure about their enforceability. Other judges have not hesitated to enforce the agreements, at least when they do not restrict the voting rights of subordinated creditors. This essay argues that intercreditor agreements are controversial because they pose a trade-off: they reduce bargaining costs (by …

Market Intermediation, Publicness, And Securities Class Actions, Hillary A. Sale, Robert B. Thompson

Georgetown Law Faculty Publications and Other Works

Securities class actions play a crucial, if contested, role in the policing of securities fraud and the protection of securities markets. The theoretical understanding of these private enforcement claims needs to evolve to encompass the broader set of goals that underlie the securities regulatory impulse and the publicness of those goals. Further, a clear grasp of the modern securities class action also requires an updated understanding of how the role of market intermediation in securities transactions has reshaped the realities of securities litigation in public companies and the evolution of the fraud cause of action in the context of open-market …

Politics In Securities Enforcement, Urska Velikonja

Georgia Law Review

American securities enforcement agencies often face charges that they use their enforcement power to further political goals.' Most recently, Standard & Poor's credit rating agency claimed that the U.S. Department of Justice unfairly singled it out for prosecution for fraudulent credit ratings after it downgraded U.S. sovereign debt. The U.S. Securities and Exchange Commission (SEC or the Commission), too, has been accused of using its enforcement politically: of bringing enforcement actions to improve its political standing, to punish its detractors, or to deflect attention from negative reports about its activities; and of holding back investigations of politically-connected figures.

The Nonfinancial Returns Of Crowdfunding, Andrew A. Schwartz

Publications

Securities crowdfunding — the sale of unregistered securities to the public over the Internet — has come under attack before it has even begun. Legal scholars in particular have expressed concern that investors will lose any money they invest in crowdfunding companies. Even assuming that this may be true from a purely financial perspective, these critics are missing an important point: Crowdfund investors with negative returns will not simply have lost their money, but rather they will have spent it (at least in part) on nonpecuniary benefits, including entertainment, political expression and community building. These nonfinancial returns of crowdfunding are …

Cryptocurrencies: An Introduction For Policy Makers, Brian Conley, Jeffrey Echert, Andrew Fuller, Heather Lewis, Charlotte Lunday

Technology Law and Public Policy Clinic

Cryptocurrencies are open-source, peer-to-peer digital currencies. Two of their most distinctive features include the use of public key cryptography to secure transactions and create additional currency units, as well as the decentralized nature of their digital payment systems. The underlying technical system which all cryptocurrencies are modelled after is that of the original cryptocurrency,

Bitcoin.

Bitcoin was created by “Satoshi Nakamoto” a person or group credited with writing the first paper on the digital currency in 2008. Certain key elements differentiate cryptocurrencies from traditional electronic currency systems such as electronic banking and PayPal, most notably their decentralized control mechanisms. That …

Crytographic Currencies From A Tech-Policy Perspective: Policy Issues And Technical Directions, Emily Mcreynolds, Adam Learner, Will Scott, Franziska Roesner, Tadayoshi Kohno

Tech Policy Lab

We study legal and policy issues surrounding crypto currencies, such as Bitcoin, and how those issues interact with technical design options. With an interdisciplinary team, we consider in depth a variety of issues surrounding law, policy, and crypto currencies—such as the physical location where a crypto currency’s value exists for jurisdictional and other purposes, the regulation of anonymous or pseudonymous currencies, and challenges as virtual currency protocols and laws evolve. We reflect on how different technical directions may interact with the relevant laws and policies, raising key issues for both policy experts and technologists.

Chinese Foreign Direct Investment Into Africa In The Context Of Brics And Sino-African Bilateral Investment Treaties, Catherine Elkemann, Oliver C. Ruppel

Richmond Journal of Global Law & Business

China is now the second largest economy in the world after the United States of America and is deemed to be the most influential member of the group of leading emerging economies, the so called BRICS partnership consisting of Brazil, the Russian Federation, India, China and South Africa. According to the latest World Investment Report published by the United Nations Conference on Trade and Development (“UNCTAD”), China is also the second largest recipient of inward foreign direct investment (“IFDI”) and the third in terms of outward foreign direct investment (“OFDI”). In this context, Africa is emerging as an important destination …