News Topic: Financial Institutions

Slips readers will be interested in Matt Levine's column today , which takes a deep dive into the recently failed Greensill's lending against “prospective receivables,” which is kind of like lending against my prospective estate in Scotland. ... Read full article

I used my phone to remotely deposit a check today at Bank of America. Before I was able to proceed with the transaction, however, Bank of America required me to agree to new terms and conditions for mobile deposits. The terms and conditions were presented ... Read full article

I submitted comments to the OCC about its proposed rulemaking regarding Fair Access to Financial Services. I previously blogged on the topic here and here. ... Read full article

It's time to say it loud and clear: the OCC is a problem agency. ... Read full article

It's not every day that I write a letter in opposition to the issuance of a bank charter. But that's what I just did. Here is my comment letter to the Office of the Comptroller of the Currency   in opposition to the charter application for ... Read full article

In the Spring I am teaching a research and writing seminar called Advanced Commercial Law and Contracts. Credit Slips readers have been important resources for project ideas in the past, and I'd appreciate hearing what you have seen out in the world ... Read full article

Those wascally wabbits at OCC are back at it again in the waning light of the Trumpshchina. The OCC has proposed a rule on "Fair Access to Financial Services."  ... Read full article

Just when you think it can't get more ridiculous... The Office of Comptroller of the Currency, which hasn't taken racially discriminatory lending seriously , is concerned about banks' discriminatory refusal to serve the oil and gas industry ... Read full article

I have a new white paper out from the Roosevelt Institute's Great Democracy Initiative. The paper, which is co-authored with Lindsay Owens and Ganesh Sitaraman , proposes a standing emergency economic stabilization authority to provide an ... Read full article

A spike in demand has led to a bigger emphasis on innovative solutions for the digital payments market. ... Read full article

Business continuity plans should be used constantly, not just when the crisis is at its peak, says the New York Fed’s head of financial services. ... Read full article

I have an article out in The American Prospect about How to Start Closing the Racial Wealth Gap . Unlike a lot of writing bemoaning the racial wealth gap, this piece has a concrete reform that could be undertaken on day 1 of a Biden administration without ... Read full article

My new book,  The Great American Housing Bubble:  What Went Wrong and How We Can Protect Ourselves in the Future  is being released on Tuesday by Harvard University Press. The book is co-authored with my long-time collaborator, Wharton real estate ... Read full article

A CapitalOne savings account ad has got me thinking about whether Van Halen has anything to teach regulators. Van Halen is famous for its use of a contract that requires provision of M&Ms for the band , but expressly prohibits provision of any brown ... Read full article

$10 billion of CARES Act funds are going to the banks, especially megabanks, in fees for making “small” business PPP loans. The fees, paid by the Small Business Administration, i.e. Treasury, range from 1% for loans above $2 million to 5% for loans below ... Read full article

Vijay Raghavan , who will be joining the Brooklyn Law School faculty this summer  and his colleague Tom James , shared a troubling observation about the payment of the recovery rebates ("Corona Cash" or "Mnuchin Mnoney") through direct ... Read full article

We need to bail out the economy, and it's not going to be cheap. The government is going to have to carry the economy for 18-24 months. There's no way of avoiding that. But we don't need to be stupid or corrupt about the way we do it. And ... Read full article

While Congress struggles to figure out the best way to respond to the coronavirus pandemic, it is very apparent that immediate relief measures are necessary, if only to buy time for a more comprehensive approach. Layoffs are already happening and with ... Read full article