Financial Institutions

The Promise and Limits of Postal Banking

10/29/15

It’s easy for Progressives to get excited about the idea of postal banking: a public option for banking! What’s not to love?

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Glass-Steagal: It's the Politics, Stupid!

10/14/15

It was like eight nights of Chanukkah in one for me watching the Democratic debate last night. There was a Glass-Steagal lovefest going on. But here's the thing:  no one seems to get why Glass-Steagal was important or the connection between Glass-Steagal and the financial crisis.

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Covenant Banking

10/14/15

A new book out by University of Minnesota Law Professors Claire Hill and Richard Painter proposes a really intriguing proposal for disciplining wayward financial services firms: "covenant banking." The problem, as Hill and Painter observe, is that when things go badly at a financial institution, the

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Interchange Evidence?

09/28/15

Both sides in the interchange fee debate have pointed to a recent Richmond Fed study as evidence supporting their position (here and here).

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NY AG Unsheathes Excalibur

08/04/11

NY AG Eric Schneiderman came out with guns blazing in the proposed Countrywide investor settlement litigation.  It his filing intervening in the action and suing Bank of New York Mellon for breach of fiduciary duty, persistent fraud, and violations of the Martin Act (the "Excalibur" of the NY AG), General Schneiderman didn't mince words. [more]