Banking and Finance Law Commons^™

Asking The Right Questions About Legal Finance In United States Aggregate Dispute Resolution, J. Maria Glover

Georgetown Law Faculty Publications and Other Works

Third-party legal finance is one of the most controversial modern developments in civil justice, both in the United States and across the globe. It is particularly controversial when mentioned in the same breath as aggregate litigation. Current debate trains on a series of repeated questions: whether and how to ban litigation finance in aggregate litigation; whether the use of litigation finance should be disclosed in discovery; and whether litigation finance is allowed under various (and often ancient) legal doctrines. Obscured from view is what I believe to be the most fundamental question: What is the proper role of litigation finance …

Controlling The Mischief Of New York’S Foreclosure Abuse Prevention Act Through Constitutional Pre-Emption, Shelby D. Green

Elisabeth Haub School of Law Faculty Publications

FAPA aimed to ease the burdens of long-delayed foreclosure proceedings by restating the operation of the statute of limitations. It contains provisions across several sections of state statutes that specify that once the six year statute of limitations on actions to foreclose commences, typically by the acceleration of the balance due on the promissory note and commencement of suit, it continues to run, even after the parties have entered into a workout agreement and have dismissed the complaint. By express terms, the Act had immediate effect, such that those lenders who withdrew complaints pursuant to a workout agreement before the …

Ghosting The Crowd, Andrew A. Schwartz

Publications

Crowdfunded companies are legally bound to provide investors with an annual report--but most don't. This "ghosting of the crowd" violates federal securities laws and raises the risk of opportunism by entrepreneurs, who are more prone to misbehave if no one is watching. Most ominously, it threatens the very viability of the investment crowdfunding market, as investors who are ghosted by one company are less likely to invest in another.

This Article reports on the embarrassing record of noncompliance with the annual report rule imposed by the Jumpstart Our Business Startups ("JOBS") Act of 2012 and Regulation Crowdfunding, and proposes a …

Creditors, Shareholders, And Losers In Between: A Failed Regulatory Experiment, Albert H. Choi, Jeffery Zhang

Articles

In the aftermath of the 2007–08 Global Financial Crisis, regulators encouraged many of the world’s largest banks to hold a new type of regulatory instrument with the goal of improving their safety and soundness. The regulatory instrument was known as a “CoCo,” short for contingent convertible bond. CoCos are neither debt nor equity. They are something in between, designed to give the bank a shot in the arm during times of stress. Many of the largest international banks have issued CoCos worth hundreds of billions of dollars. After more than ten years—a decade that includes the collapse of Credit Suisse …

Andrew Phang (Gen. Ed.), Pioneer, Polymath And Mentor: The Life And Legacy Of Yong Pung How, Kwan Ho Lau, Bryan Leow

Research Collection Yong Pung How School Of Law

Many know the story of modern Singapore in broad outline. When the country attained independence in 1965, it was not industrialised and fishing villages still dotted the landscape. By 1990, GDP per capita had risen to around US$13,000, far exceeding its neighbours and on par with Hong Kong and New Zealand. A further three decades on, Singapore today boasts gleaming skyscrapers, well-developed infrastructure and a high degree of trust by residents and investors alike in its government.

Financial Regulation, Aurelio Gurrea-Martinez, Nydia Remolina Leon

Research Collection Yong Pung How School Of Law

No abstract provided.

Through The Looking Glass: We All See Ideational Objects Here, J.G. Allen

Research Collection Yong Pung How School Of Law

In this chapter, I explore the property law treatment of cryptoassets—and, presumably, other digital artefacts that are not clearly rights to anything or against anyone. I argue that such artefacts are well described as “ideational objects” and draw together insights from private law theory and social ontology to explore how we should think about complex objects with a social and a technical dimension. I then examine how the law of property can accommodate ideational objects as objects of property rights (including the right of ownership) and dealing such as transfer, and what challenges and implications this poses for the traditional …

The Employees’ Dilemma: Balancing Internal Reporting, Whistleblowing, And Insider Trading Risks, Geeyoung Min

Seattle University Law Review

The Essay examines how recent developments in insider trading regulations and whistleblower reward programs can lead to unintended and counterproductive results of discouraging employees from using internal reporting channels within corporate compliance programs. While the presence of a robust and well-functioning corporate compliance program is a critical factor both in mitigating the level of public enforcement actions against companies and in protecting corporate managers from liability in private litigation, these programs often provide little incentive for employees to report potential misconduct internally.

Corporate compliance programs are designed to promote the upward information flow within the company, which is essential for …

Understanding The Big Three’S Wavering Support Of Environmental And Social Shareholder Proposals, Jeff Schwartz, Jefferson Jensen

Seattle University Law Review

Because of their substantial equity portfolios, BlackRock, Vanguard, and State Street (the Big 3) are central players in corporate governance. It is, therefore, critical to understand how they vote. One puzzle is that their support for shareholder proposals on environmental and social matters appears to waiver. In 2020, for instance, BlackRock supported 11.1% of environmental proposals at S&P 500 firms. In 2021, it seemingly reversed course, supporting 55.2%. It then flipped again, supporting 32.1% in 2022. Such statistics suggest that the Big 3 are constantly changing their views on these topics. This Article seeks to better understand whether this is …

How The Antidiscrimination Law Of Commercial Transactions Really Works, Helen Norton

Seattle University Law Review

A variety of businesses now cite 303 Creative when seeking First Amendment protection for their refusal to serve certain customers based on those customers’ protected class status. How this litigation will play out remains to be seen. But future courts need not, and should not, repeat the 303 Creative Court’s misunderstanding of how the antidiscrimination law of commercial transactions actually works.

Part I of this Essay explains the Court’s longstanding understanding of the antidiscrimination law of commercial transactions, and then describes the Court’s failure to engage with this precedent in 303 Creative. Part II then identifies the 303 Creative decision’s …

Having Fun Is Not As Hard When You Have An Arbitration Clause: The Current Benefits And Possible Changes To The Arbitration Agreements Of Amusement Parks And Recreational Resorts For Consumers, Cynthia Spitzer

Cardozo Journal of Conflict Resolution

This Note will evaluate options that are more favorable for consumers to bring their injury claims against amusement parks and recreational resorts when the route for resolution is limited by an agreement. For instance, the option of an arbitration agreement would be more preferable when faced with only the option of a liability waiver. However, with possible future changes of consumer contracts from the FAIR Act, opt-in provision, or mandatory arbitration imposed on the corporations, the route for resolution can drastically change and improve the realm of possibility for consumers of amusement parks and recreational resorts.

Promoting Financial Empowerment Via 401(K) Plan Domestic Abuse Victim Distributions, Samantha Prince

Faculty Scholarship

Domestic violence is sadly and shockingly all too prevalent in the United States. According to the U.S. Centers for Disease Control, more than one in four women and one in seven men in this country are subject to domestic abuse “affecting an estimated 10 million people every year.”

Finances and financial abuse play a significant role in 99% of domestic abuse cases. “[L]acking financial knowledge or resources is the number one indicator of whether a domestic violence victim will stay, leave, or return to an abusive relationship.”When abusers have control over financial assets, victims are monetarily paralyzed and have little …

Preserving The Future: Recognizing Intergenerational Equity In United States Constitutional Jurisprudence In Light Of Evolving Climate Rights Litigation, Molly Morgan

Cardozo Journal of Equal Rights & Social Justice

Climate rights litigation is an essential part of holding states accountable for their climate change obligations. This type of litigation has increased across the globe, and domestic and international courts have issued landmark rulings that serve as precedent for reinforcing state obligations and protecting constitutional and human rights in the process. One focus of these cases is intergenerational equity, which implicates the theory that inadequate state action on climate change violates the rights of future generations. This Article explores the evolution of this theory in domestic and international law, illustrating its increasing importance in climate rights litigation and the necessity …

Scaling 'Reverse Cfius': A Comparative Review Of Outbound Foreign Investment, Hannah Pérez

Cardozo International & Comparative Law Review

The note examines the evolution of U.S. regulations on outbound foreign investments, particularly under Executive Order 14105, known as "Reverse CFIUS," aimed at mitigating national security risks by restricting investments in critical industries in countries like China. It explores the legal, economic, and geopolitical implications of these regulations and compares them with similar measures in the EU, Japan, and Australia, emphasizing the need for international cooperation to effectively address these security concerns.

Duped: The Implications Of The Proliferaiton Of Superfake Luxury Goods And What Consumers May Not Have Considered, Riann Colbert

Cardozo Arts & Entertainment Law Journal

The proliferation of "Superfake" luxury goods, which are high-quality counterfeit items nearly indistinguishable from authentic products, poses significant challenges to trademark law, consumer protection, and the broader economy. These items, often sold through e-commerce platforms, not only undermine legitimate businesses but also expose consumers to health risks, support organized crime, and perpetuate environmental harm. The note advocates for enhanced legal frameworks and consumer education to mitigate these issues.

A Comparative Approach To Documentation Methods And Avoiding Transfer Pricing Penalties: Is The United States Justified In Its Approach Of Enforcing Penalties Under Section 6662?, Atalya Santos

Cardozo International & Comparative Law Review

No abstract provided.

Fintech And Techno-Solutionism, Hilary J. Allen

Scholarly Articles in Law Reviews & Journals

Silicon Valley-style technological innovation is ill-suited to addressing complex problems like financial inclusion, concentrated market power, and privacy harms, yet promises abound that “fintech” can fix them. This oversimplified reduction of complex structural problems into technological puzzles is known as “techno-solutionism,” and it poses real dangers for public policy. When we start with the tech industry’s favored tools and then ask how to solve complex problems using those tools – rather than starting by defining the problem to be solved – it can distract policymakers from supporting real, structural solutions. Techno-solutionism can also deter policymakers from interrogating the limitations, and …

Informowanie O Najniższej Cenie W Okresie 30 Dni Przed Obniżką W Praktyce Polskiego Sektora Bankowego, Monika Brzeska-Kozerska

internetowy Kwartalnik Antymonopolowy i Regulacyjny (internet Quarterly on Antitrust and Regulation)

The article analyzes the implementation of the information obligation regarding the lowest price in the last 30 days before a reduction, arising from Article 4(2) of the Act on Informing about the Prices of Goods and Services (Act on Prices), in the context of the banking sector. The implementation of the so-called Omnibus Directive into the Polish legal system, aimed at preventing consumer deception, has raised doubts about its application to financial institutions. The purpose of the analysis was to determine whether, and to what extent, banks are obliged to fulfill this information obligation in relation to the products and …

Virtual Currency As Real Currency, Jeffrey A. Maine

Faculty Publications

Convertible virtual currency is increasingly equated with the notion of real currency. Indeed, the increased acceptance of virtual currency as a payment method among retailers and consumers, the evolution of new types of virtual currency that alleviate price volatility, and the recent expansion of foreign country initiatives confirm the strong trajectory toward virtual currency’s function as a transactional currency. Yet, the tax system continues to classify all forms of virtual currency as “property,” and not “currency,” which results in immediate taxation every time someone buys something with virtual currency. This Article argues that the adopted tax treatment of virtual currency …

Opening Wall Street To Main Street: A Proposed Framework For Expanding Private Equity To The Public, Willis Huynh

Brooklyn Law Review

Private equity has become one of the most powerful engines of the modern economy, yet its gates remain closed to the vast majority of Americans. Under current federal securities laws, access to private funds is reserved for “accredited investors” and “qualified purchasers,” wealth-based categories that exclude most American households. This Note argues that these thresholds no longer serve as reliable proxies for sophistication and instead entrench economic inequality by reserving the highest-yielding asset class for the already wealthy. Tracing the development of private equity from its venture-capital roots through the SEC’s recent regulatory efforts—including the vacated 2023 Private Fund Rules—this …