While 2008 was a difficult year for many real estate investment trusts (REITs), there were a number of positive developments. In this Commentary, Phillip J. Kardis II, Thomas J. Lyden, Roger S. Wise, and Anthony C. Green summarize the top tax and securities...
In January 2009, the Federal Reserve Board, the OTS (Office of Thrift Supervision), and the NCUA (National Credit Union Administration) adopted the Consumer Credit Card Account Practices Rules designed to protect consumers who use credit cards from unfair...
Designed to further regulatory reform, the Private Fund Investment Advisers Registration Act of 2009 (Proposed Act) would expand the pool of investment advisers required to register with the SEC by eliminating those portions of the Investment Advisers...
Proposed legislation would require managers of private investment funds to register with the SEC as investment advisers under the Investment Advisers Act. Currently, most private fund managers rely on the so-called private adviser exemption. The new legislation...
A Consumer Financial Protection Agency has been put forth as one of the proposals to address regulatory deficiencies that allowed of institutions offering those selling consumer financial products to overreach. Professor Jennifer Martin looks at the proposed...
In this Emerging Issues commentary, Professor Jennifer Martin looks at the Federal Reserve's new overdraft services rules and the requirements for banks providing these services. The new rules establish an opt-in system for debit card and ATM transactions...
be a new problem facing financial institutions from commercial real estate
loans becoming due in 2010 and will thereafter need refinancing. If small and
mid-size banks become concerned about the losses, they will likely make fewer
This commentary reviews the provisions of the Dodd-Frank
Wall Street Reform and Consumer Protection Act that are pertinent to the
insurance industry and opines on what those provisions portend for the
regulation of the insurance industry in the future...
On Monday, March 15,
2010, Senate Banking Committee Chairman Chris Dodd (D-CT) released a Chairman's
Mark of the "Restoring American Financial Stability Act of 2010" (the
"Bill"). The Bill, which has been in development...
On May 20, 2010, the
Senate passed the "Restoring American Financial Stability Act of
2010" as amended ("Senate Bill"). Congressional leadership has
indicated that conference committee proceedings will take place in June, making
by Dan Crowley, Karishma Shah Page, Bruce Heiman, Collins
R. Clark and Justin D. Holman
On December 11, the
House of Representatives passed H.R. 4173, the Wall Street Reform and Consumer
Protection Act of 2009 (see H.R. 4173 as introduced...
by Cary J. Meer, Mark Mehrespand and Ben
On July 1, 2010, the Securities
and Exchange Commission (the "SEC" or "Commission") adopted
Rule 206(4)-5 (the "Rule") under the Investment Advisers Act...
Federal Reserve and FTC Publish Final Credit Score Disclosure Rules
The Dodd-Frank Act amends the Fair Credit Reporting Act (FCRA) to require companies that use credit scores to include those scores, and related information, in adverse action and...
by Kenneth E. Kohler, Thomas A. Humphreys,
Jonathan T. Keen and Arthur Man
The years since the financial
crisis have seen a flurry of new mortgage REITs, most of which are pursuing a
simple but compelling business strategy: buy high-yielding or distressed...
9 Cardozo Pub. L. Pol'y & Ethics J. 607, Summer
Author: Carolyn Satenberg
Most adult citizens of the United States, regardless of color, creed, gender,
sexual orientation, or religion, are subject to both federal...
by Peter Green and Jeremy Jennings-Mares
This commentary summarizes the
Basel III rules. The rules are contained in two separate documents: (1) Basel
III: A global regulatory framework for more resilient banks and banking systems
and (2) Basel III:...
by Jeremy Jennings-Mares and Peter Green
One important aspect of the
international response to the financial crisis is the ongoing work in relation
to proposals that banks and other financial institutions be required to issue
debt with "bail-in"...
by Hillel T. Cohn
On January 21, 2011, the
Securities and Exchange Commission ("SEC") released its
Congressionally mandated study on the effectiveness of current legal and
regulatory standards for broker-dealers and investment advisers (the...
by Jeremy Jennings-Mares, Oliver Ireland and Anna
On September 12, 2010, the
Group of Central Bank Governors and Heads of Supervision, the oversight body of
the Basel Committee on Banking Supervision ("BCBS"), issued a press...
by Clare Tanner Esq. and Anne T. McCarthy
Employers who make reports
under POCA of suspected money laundering can be required to disclose any
relevant documentation in subsequent litigation with a disgruntled client.
Firms should review their anti-money...
by Dwight C. Smith, Barbara R. Mendelson, Charles
M. Horn, Henry M. Fields and Oliver I. Ireland
The first formal step in the
transition of the Federal Reserve Board taking over the supervisory
responsibilities of the Office of Thrift Supervision occurred...
by Dwight C. Smith, Charles M. Horn, Oliver
I. Ireland, Barbara R. Mendelson and Henry M. Fields
The transfer of the authority
of the OTS to other federal banking agencies effects important changes to the
regulatory framework to which savings and loans...
by Melissa Beck and Kenneth E. Kohler
On March 29, 2011, the Federal
Reserve Board and the FDIC separately approved a joint notice of proposed
rulemaking (the "NPR") implementing the credit risk retention
requirements of section...
by Calvin Z. Cheng, Melissa D. Beck, Kenneth
E. Kohler and Jerry R. Marlatt
Recent weeks have seen a number
of legal, regulatory and political developments in the realm of asset
securitization, culminating for the moment on September 27 with the issuance...
36 Iowa J. Corp. L. 869, Summer 2011
Author: Brent J. Horton
In 2008 the housing bubble burst, and those financial companies that invested
in mortgage-backed securities (MBS) faced insolvency as their MBS became