Banking and Finance Law Commons^™

Clawbacks As Ransomware Deterrence, Samantha Blond

Oklahoma Law Review

No abstract provided.

The Best Of Both Worlds: How Artificial Intelligence Can Balance Precision And Flexibility In Article 9 Search Logic, Lindsay Martin Mayes

Oklahoma Law Review

No abstract provided.

Private Equity In Healthcare: The Case For Stricter Regulations, Ryan Scivally

FIU Law Review

Private equity has become an increasingly influential force in American healthcare. Hundreds of billions of dollars have flown into healthcare acquisitions over the last decade, and a growing share of physician practices and health services are coming under investor control. This Comment argues that the current regulatory framework has not kept pace with that expansion. Existing federal tools, primarily antitrust and fraud enforcement, leave most transactions unreviewed because many deals fall below reporting thresholds. At the state level, doctrines such as the corporate practice of medicine are unevenly enforced and often avoided through management services’ organization structures. These structures preserve …

The Accidental Regulator-In-Chief: The Federal Reserve's Path To Power, Jamie Grischkan

FIU Law Review

The independence of the Federal Reserve, long an article of faith among lawmakers, is under attack. From the attempted removal of a member of the Board of Governors to an Executive Order subjecting the Federal Reserve's regulatory and supervisory actions to executive oversight, both the formal legal architecture and informal political norms that have long insulated the central bank from presidential control are being challenged in unprecedented ways. Amidst growing calls to reevaluate the Federal Reserve's mandate and strip the central bank of its regulatory and supervisory authority, recovering the neglected history of the Federal Reserve's role as a regulator …

Blood Diamonds Of The Digital Age: The Need For Multi-Perspective Legislation On Cryptocurrency, Peter Derdzinski

Marquette Intellectual Property & Innovation Law Review

This comment examines how cryptocurrency is used in illicit cross-border transactions before examining some of the means currently employed to combat this criminal activity. Through analysis of the European Union’s Markets in Crypto-Assets (MiCA) regulations, this Comment proposes a multi-perspective approach for new legislation in the United States beyond the GENIUS Act of 2025. Specifically, this Comment argues that any new legislation needs to approach cryptocurrency as both a medium of exchange and as an investment vehicle or a store of value. Such legislation is necessary to create a trellis for cryptocurrency growth and to provide an organized approach for …

Risk, Reward, And Renewable Collateral: Can Ip Sustain Financing In Green Energy?, Nigel Blake

Marquette Intellectual Property & Innovation Law Review

As the transition from fossil fuels to renewable energy accelerates, intellectual property has become one of the most valuable assets held by emerging green technology companies. Patents, trademarks, copyrights, and trade secrets often comprise a greater share of these companies' value than tangible assets, making intellectual property an increasingly important source of collateral for commercial financing. At the same time, the renewable energy industry presents unique valuation challenges. Rapid technological innovation, shifting government policies, evolving consumer preferences, and uncertain market demand can significantly affect the value of intellectual property, creating substantial risks for both borrowers and lenders.

This Comment examines …

Protecting The Debtor Across The Atlantic: A Comparative Analysis Of The United States And European Union Regulatory Frameworks Against Debt Collection Abuse And Harassment, Terin Michelle Tyson

South Carolina Journal of International Law and Business

Consumer debt is a long-standing global phenomenon, yet the regulation of debt collection practices remains fragmented across international borders. This lack of uniform standards leaves consumers vulnerable to debt collectors who exploit weak legal frameworks, resorting to abusive, harassing, and deceptive tactics to pressure repayment. Such practices not only undermine consumer trust in the financial services industry but also prove self-defeating; aggressive collection methods can destabilize a consumer’s financial footing and daily livelihood, ultimately impairing their capacity to repay.

This article provides a comparative evaluation of consumer protections against abusive and harassing debt collection practices in the United States and …

“Spinning Wheel Got To Go Round”: Developments In The Law Affecting Electronic Payments And Financial Services, Sarah Jane Hughes, Tom Kierner, Stephen T. Middlebrook

Articles by Maurer Faculty

The past year reminds us of the rock lyrics from “Spinning Wheel” on Blood, Sweat & Tears’s 1968 self-titled record—“What goes up, must come down/Spinning Wheel got to go round”—because there have been many changes in strategy and reversal of policy since President Trump’s inauguration in January 2025. Our Survey documents these changes and reversals as they affect electronic payments and financial services. This year’s Survey also reports on warnings from state and federal regulators aimed at bank and non-bank providers of consumer financial services. Part II examines an FTC enforcement action related to the unfair and deceptive marketing of …

Purpose-Driven Compliance, Veronica Root Martinez

Faculty Scholarship

Whether it is a small brokerage firm in Ann Arbor, Michigan, a private university in Cambridge, Massachusetts, or a multinational conglomerate head-quartered in New York City, organizations understand that they are required to fulfill a range of compliance obligations. Compliance programs today tend to have two important characteristics in common. First, the notion that perfect compliance is an impossible goal is a key component of the understandings and expectations of many firms’ compliance programs. Second, organizations have almost uniformly adopted compliance programs in areas where enforcement activity has been significant—like in the areas of antibribery and anticorruption, anti-money laundering, antitrust, …

Crypto Litigation And Market Efficiency, Robert E. Bishop, Bradford Levy, Frank Partnoy, Daniel Taylor, Andrew Yeh

Faculty Scholarship

This paper investigates, for the first time in the literature, the factors that should matter to courts in determining whether a crypto  market is “efficient,” meaning that prices are sufficiently responsive to information. Based on new empirical evidence and a series of event studies, we recommend a new judicial framework for assessing market  efficiency in crypto litigation.

Market efficiency tests based on event studies have played an important role in other areas of litigation, particularly securities litigation, where courts frequently rely on what have become known as the “Cammer factors.” Academics have not yet assessed the extent to which market …

Quantifying Ai Hallucinations In Legal And Financial Documents, Emily M. Mcguigan

Honors Undergraduate Theses

With the emergence of Artificial Intelligence, it has become recognized that hallucinations may be interwoven into documents. Hallucinations are statements that do not have a basis in fact, even though they appear to be true. My thesis will be centered on how hallucinations can be quantified in financial documents and legal documents. These two areas were chosen because they have an immeasurable effect on business. Recently, there have been several court cases in which an attorney included case citations that were hallucinations rather than being real cases. The attorney was fined by the judge. A new development might be for …

Designing Contract Modification, Albert H. Choi, George G. Triantis

Articles

For long-term commercial contracts, modification tends to be the norm rather than the exception. While modification often takes place in response to an arrival of new information, contracting parties frequently modify the terms in response to a shift in bargaining power. In this Article, we explain how the flexibility to renegotiate in response to a shift in bargaining power can facilitate long-term contracting and thereby beneficial reliance investments and risk allocation. The prospect of modification can induce contracting parties who expect their bargaining power to improve, such as from the emergence of outside opportunities, to enter into contracts earlier and …

Sustainability Assurance, Andrew F. Tuch, Luca Enriques, Alessandro Romano

Scholarship@WashULaw

A robust literature examines sustainability disclosures by public corporations, but legal scholarship has largely overlooked the role of third-party assurance—or verification—of such disclosures. This is a notable omission given the extensive literature on the auditing of financial statements, a related form of assurance.

This article responds by examining the role of assurance in sustainability reporting. In keeping with the theme of this symposium volume, it draws on US and EU law. Our discussion begins in Part I with sustainability disclosures, focusing on the requirements and practices of public companies. In Part II, we introduce sustainability assurance as well as assurance …

Liability For Non-Disclosure In Ipos, Albert H. Choi, Kathryn E. Spier

Articles

A privately-informed entrepreneur may withhold material information from prospective investors who may sue the firm ex post for (alleged) non-disclosure. Absent liability, the entrepreneur has an excessive incentive to withhold bad news and pursue socially-wasteful projects. Liability deters inefficient non- disclosure and prevents capital misallocation. Any damage award received by investors is partially offset by a reduction in equity value. Depending on the likelihood of court error and litigation cost, the socially-optimal damage award may be either zero or the minimum necessary for full deterrence. The private incentive to waive liability may be socially excessive or insufficient. Positive and normative …

Crypto Kleptocracy, W. Robert Thomas, Jeffery Y. Zhang

Michigan Law Review Online

Many Americans are worrying about whether they will soon be living in a postdemocracy autocracy. But in the meantime, they may already be living in a crypto-fueled kleptocracy. Less than one year into his second presidential term, Donald Trump has reportedly taken his wealth to new heights by embracing, both as a businessman and a politician, the crypto industry. Trump’s family businesses are involved in minting Trump-themed meme coins, creating America- themed stablecoins, and mining crypto assets—so successfully that most of Trump’s wealth is likely now from crypto, not real estate. All the while, the Trump Administration is rolling back …

"Activist" Versus "Passive" Investors: A Closer Look At Proxy Contests And The Contemporary Balance Of Advantage, John C. Coffee Jr.

Faculty Scholarship

The era of the hostile takeover has clearly given way to the era of the proxy contest led by an activist hedge fund. Today, a record number of such contests are underway, and they have changed the board composition at many U.S. companies and caused a record number of CEO resignations. But there is a mystery here: when activist funds negotiate for changes with target managements, they often obtain meaningful changes in the board of directors and corporate policies. However, when activists attempt a proxy contest, they have generally been unsuccessful, winning only a small number of seats in a …

Systemy Ochrony Instytucjonalnej W Sektorze Bankowym – W Świetle Rozporządzenia Crr, Rozdziału 10a Prawa Bankowego Oraz Regulacji Banków Spółdzielczych, Marta Stepniewska

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

This article is devoted to a discussion of the Institutional Protection Scheme (IPS) model, in the context of both EU and national legislation. The following sections discuss the legal and economic aspects of IPS. The largest such system in Europe – the German savings bank system – is used as the main example in the paper, while the comparative analysis also covered models from Italy, Austria and Spain.

With regard to Polish law, analyzed in detail were self-help mechanisms in the sector of cooperative banks, in operation since 2015, which represent modern solutions for the protection of solvency and liquidity …

Zmiany W Przepisach Dyrektywy Mcd – Postulaty De Lege Ferenda W Zakresie Ochrony Konsumenta-Kredytobiorcy Hipotecznego, Piotr Gałązka, Weronika Tołściuk

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

The object of this article is to assess the functioning thus far of Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on consumer credit agreements relating to residential immovable property and amending Directives 2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010 (Mortgage Credit Directive, MCD) in the mortgage market in the European Union, in light of calls for consumer protection of mortgage credit services made by representatives of consumer organisations, lenders, supervisors of financial market institutions, and EU institutions. The Directive has generally led to an increase in the level of consumer protection acting …

Prawo Konsumenta Do Obniżki Całkowitego Kosztu Kredytu W Przypadku Wcześniejszej Spłaty Zobowiązania, Michał Maciaczyk

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

The subject of this study is an analysis of the right of a consumer to a reduction in the total cost of credit in the event of its early repayment, with a particular focus on Article 49 of the Consumer Credit Act and the CJEU judgment of 11 September 2019 (C-383/18). The article addresses controversies surrounding the recalculation of credit costs, the division of costs into those that are dependent and those independent of the duration of the agreement, and the issue of consumer protection in the context of Directive 2008/48/EC. The conclusions of the article support a pro-consumer interpretation …

Zasada Minimalizacji A Zakres Wymiany Danych Ubezpieczeniowych Klienta W Projekcie Rozporządzenia W Sprawie Ram Dostępu Do Danych Finansowych (Fida), Bartosz Bigaj

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

The purpose of the article is to critically assess the provisions on the scope of customer financial data exchange contained in the draft Financial Data Access Framework Regulation (FIDA) published by the EC on June 28, 2023, in the context of the principle of minimalism regulated by the GDPR Regulation. The author focuses on the potential benefits and risks of sharing customer information in the insurance market, including consumers in particular. The article provides a general analysis of the concepts of “open finance,” “open banking” and “open insurance,” as well as the principle of data minimalism from the RODO. Due …