Keith R. Fisher
The Federal Reserve has extended the comment period on
its Basel III regulatory capital rulemaking from its original September 7
deadline until October 22, 2012. The rulemaking, which was the subject of a previous
Ballard Spahr legal...
by the Consumer Financial Services Group
In response to threats from local governments in
California and elsewhere to use eminent domain to acquire and restructure
underwater mortgages, the Federal Housing Finance Agency (FHFA) has announced
A major strand in the narrative of the financial meltdown
was that the subprime mortgage-backed securities and the subprime
collateralized debt obligations sectors became unmoored from the market and
rating agency discipline that had characterized other...
Robert M. Jaworski analyzes the "perfect storm" that has hit the subprime mortgage industry--including what caused the storm and what the effects of the storm have been. Mr. Jaworski writes:
Speculation and fraud also played a part in this...
As a result of the Gramm-Leach-Bliley (GLB) Act, banks are required to "push out" certain of their securities brokerage activities to registered broker-dealers. In September 2007, the SEC and the Federal Reserve Board jointly adopted Regulation...
Financial and corporate crises bring regulation; the bigger the crisis, the more the regulation. A few years ago, major corporations, particularly Enron and WorldCom, were engulfed in scandals. Coming hard upon the bursting of the dot.com bubble and revelations...
The crisis has clearly favored the financial holding company structure for the large financial conglomerates. The financial holding company came into legal existence in 1999 with the passage of the Financial Services Modernization Act, generally...
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:...