Banking and Finance Law Commons^™

Systemic Regulation Of Artificial Intelligence, Yonathan Arbel, Matthew Tokson, Albert Lin

Articles

Today's artificial intelligence ("AI") systems exhibit increasing capabilities across a remarkable variety of tasks. The rapid growth in AI ability has caught the attention of policymakers, parliaments, and the United Nations. These entities are increasingly looking towards regulating AI, not only in its particular applications, but as a technology. Yet legal scholarship has thus far offered little to this new and critical regulatory conversation, which has instead been dominated by computer scientists and technologists.

This Article begins the project of assessing AI's broader risks and law's role in addressing them. These risks are wide ranging -they span harms to vulnerable …

Comprehensive Analysis Of The Different Fields Of Law, Kaitlyn Lee

Honors Theses

Since American law developed in the early 1700s, lawyers have played a crucial role in society, advocating for justice and upholding the rule of law. Over the years the legal profession has evolved immensely and now offers many different fields for individuals to practice. People are often curious about the work that lawyers do and the education that is required to become an attorney. This thesis aims to satisfy the curiosity of those individuals by exploring many facets of the different areas of law. It will examine the unique and shared aspects of the various legal fields, detailing the specific …

Going Cashless: Privacy Implications For Gun Control In A Digital Economy, Liza Goldenberg

The Journal of Business, Entrepreneurship & the Law

This paper will examine how, given the United States’ shift toward a cashless economy, the country’s top credit-card companies’ potential decision to implement a new merchant code for firearm-related transactions as a method of gun control will backfire, jeopardizing consumer privacy and leading to unregulated transactions through cryptocurrencies. Since the majority of gun violence stems from firearm transactions not involving credit cards, credit-card companies should abandon the new merchant code that dissuades Americans from exercising their fundamental rights. The American economy should focus on slowing the shift toward a digital economy so that federal and state governments can implement legislation …

Reinventing Operational Risk Regulation For A World Of Climate Change, Cyberattacks, And Tech Glitches, Hilary J. Allen

Scholarly Articles in Law Reviews & Journals

Around 30 years ago, banking regulators began to construct the concept of “operational risk,” and devise rules to manage this newly created risk category. This “invention” of operational risk assembled a grab-bag of otherwise uncategorized risks associated with banking operations; this Article argues that the resulting operational risk regulation framework isn’t very well suited to some of those risks. In particular, this Article demonstrates that the existing operational risk regulation framework is becoming an increasingly inadequate response to banks’ exposure to operational losses following damage to their physical assets and business disruption and system failures. This is so for two …

Getting To Green: International Financing For Green Energy Infrastructure In Developing Countries, Zach Fechter, Meagan Corser

Texas A&M Law Review

One of the symposium panels discussed financing clean energy projects. One panelist in particular expressed concern about how to build developing countries’ institutional capacity to utilize international financing for green energy. Global institutions like the World Bank and the International Monetary Fund (IMF) provide loans to developing countries conditioned on the countries privatizing and deregulating their energy sectors—otherwise known as austerity. While austerity measures may make sense in developed countries, this Comment argues that developing countries often lack the infrastructure needed to effectively utilize international financing precisely because the loans are conditioned on austerity. The World Bank and the IMF …

Robots, Markets, And The Value Of Deal Lawyers, Heather Hughes

Scholarly Articles in Law Reviews & Journals

Emerging forms of automation using artificial intelligence (AI) and distributed ledgers are raising transformative questions for the practice of law. Deal lawyers are well-situated to understand the convergence of various modes of automation and their implications for their clients and the markets they facilitate. This Article contends that digesting threats and leveraging opportunities associated with new technologies calls for granular, context-specific assessment. It presents one instance of automation in one predominant market—the market for asset-backed securities (ABS)—by comparing securitization to a blockchain-based analog, tokenization. It considers how lawyers support the ABS market and how automation of lawyers’ functions could intersect …

Dol Fiduciary Rule 3.0 Strikeout, Base Knock, Or Home Run?, Antolin Reiber

DePaul Business & Commercial Law Journal

No abstract provided.

Money Is Morphing - Cryptocurrency Can Morph To Be An Environmentally And Financially Sustainable Alternative To Traditional Banking, Clovia Hamilton

DePaul Business & Commercial Law Journal

No abstract provided.

Survey Evidence In Trademark Actions, Ioana Vasiu And Lucian Vasiu

DePaul Business & Commercial Law Journal

No abstract provided.

Corporate Governance And Compelled Speech: Do State-Imposed Board Diversity Mandates Violate Free Speech?, Salar Ghahramani

DePaul Business & Commercial Law Journal

No abstract provided.

The Real Persons Are The Corporations We Made Along The Way, Leonard Brahin

DePaul Business & Commercial Law Journal

No abstract provided.

Front Matter

DePaul Business & Commercial Law Journal

No abstract provided.

Hearing On Next Generation Infrastructure: How Tokenization Of Real-World Assets Will Facilitate Efficient Markets, Hilary J. Allen

Legislative Testimony & Comments

Chairman Hill, Ranking Member Lynch, and Members of the Committee: Thank you for inviting me to testify at today’s hearing. My name is Hilary Allen, and I am a Professor of Law at the American University Washington College of Law. I am also a member of the CFTC’s Technology Advisory Committee, although I have prepared this testimony on my own behalf and not on behalf of either of these organizations. I teach courses in corporate law and financial regulation, and my research focuses on financial stability regulation and financial technologies. I have authored many articles for law reviews and the …

Fintech: Finance, Technology And Regulation, Nydia Remolina

Research Collection Yong Pung How School Of Law

Fintech: finance, technology and regulation, by Ross P. Buckley, Douglas W. Arner,and Dirk A. Zetzsche, Cambridge, Cambridge University Press, 2024, 330 pp, £29.99(paperback), ISBN 978-1-009-07821-4

To Err Is Human, To Restore Is (Usually) The Law: Present Entitlement In Restitution’S Discharge-For-Value Rule, Layne S. Keele

Arkansas Law Review

This Article argues that the Second Circuit’s present-entitlement holding and the concurrence’s setoff argument in Citibank v. Brigade Capital do not reflect the state of the law and risk introducing confusion into an already convoluted area of law. First, I will briefly review the district court’s decision in Citibank and its reception among scholars and the marketplace. Next, I will examine the Second Circuit’s opinion, as well as the concurrence and the addendum to the opinion. Finally, I will critique the “present entitlement” requirement that the court grafted onto the discharge-for-value defense. In this critique, I will argue that the …

The U.S. Dual Banking System And Interest Rate Exportation: Challenging The Valid-When-Made Doctrine In California V. Office Of The Comptroller Of The Currency, Todd P. Stephenson

Georgia State University Law Review

This Comment explores the extension of interest rate exportation to nonbank entities through the valid-when-made doctrine and its subsequent legal challenge in the 2022 court case California v. OCC.

The Esg Gap, Sharon Hannes, Adi Libson, Gideon Parchomovsky

BYU Law Review

The corporate world is undergoing a transformation: there has been a dramatic influx in demand for companies to promote environmental, social, and governance (ESG) values. Yet these preferences do not necessarily translate into effective corporate actions. In this Article, we underscore the structural problems that prevent such preferences from steering the corporate ship full steam ahead toward ESG goals. We analyze the central actors in the corporate sphere that can potentially bring about such change on the ground: managers, institutional investors, and activist hedge funds. We demonstrate that none of these actors have the two central elements required for promoting …

Letter Of Credit Related Trade Disputes - Court Decisions Legal Certainty In Indonesia, Rori Achir, Mella Ismellina Farma Rahayu, Ahmad Sudiro

Indonesia Law Review

This study examines the legal certainty surrounding commercial letters of credit (L/C) within the context of Indonesian judicial practice, focusing on how courts conduct hearings and render decisions in L/C-related trade disputes. The term “L/C” in this research encompasses both international L/C and the domestic equivalent, Surat Kredit Berdokumen Dalam Negeri (SKBDN). The analysis explores whether Indonesian courts have undertaken comprehensive judicial examinations across five key dimensions: (1) the determination of whether a breach of contract or a tort occurred; (2) the characterization of contractual relationships among the disputing parties; (3) the application of the L/C independence principle; (4) the …

Getting Merger Guidelines Right, Keith N. Hylton

Faculty Scholarship

This paper is on the new Merger Guidelines. It makes several arguments. First, that the Guidelines should be understood as existing in a political equilibrium. Second, that the new structural presumption of the Merger Guidelines (HHI = 1,800) is too strict, and that an economically reasonable revision in the structural presumption would have increased rather than decreased the threshold. Whereas the new Guidelines lowers the threshold to HHI 1,800 from HHI 2,500, an economically reasonable revision would have increased the threshold to HHI 3,200. I justify this argument using a bare-bones model of Cournot competition. Third, it seems unlikely, …

Infrastructure Finance For The Public Good: How Asset Recycling Can Untangle The New York Mta's $50 Billion Debt Load, Lev E. Breydo

Faculty Publications

Systematic infrastructure underinvestment - a $2.6 trillion 'gap' - and accelerating climate change have become facts of life in the United States. Though typically attributed to politics, this Article posits the circumstances as a market disequilibrium rooted in an interplay between unique dimensions of infrastructure and distinctive features of the U.S. approach. Recently-passed legislation, including the Infrastructure Investment and Jobs Act, is insufficient to overcome these longstanding challenges.

Based on a broad, global study of effective approaches to infrastructure finance, as well as a multi-disciplinary analysis of the economics, engineering and finance literature, this Article proposes addressing the U.S. infrastructure …