Financial Institutions

Federal Reserve Emergency Lending as a Coronavirus Response


Senator Elizabeth Warren has put out a plan for mitigating the economic fallout from the coronavirus.


Dems' new tack on gun control: Make banks police sales


A recent bill would require banks to provide data on suspicious firearms transactions as part of anti-money laundering efforts.


Trump Administration Declares Open Season on Consumers for Subprime Lenders

The Trump administration has just proposed a rule that declares open season on consumers for subprime lenders.

The Rigged Game of Private Equity

The Stop Wall Street Looting Act introduced by Senator Warren has the private equity industry's hackles up.

Private Equity’s Chicken Little Dance

The private equity industry is lashing out at Senator Warren’s Stop Wall Street Looting Act with some pretty outlandish claims that rise to Chicken Little level.

Coercive "Consent" to Paperless Statements


If you've logged on to any sort of on-line financial account in the past few years, there's a very good chance that you've been asked to consent to receive your periodic statements electronically, rather than on paper. Financial institutions often pitch this to consumers as a matter of being eco-friendly (less paper, less transportation) or of convenience (for what Millennial wants to deal with paper other than hipsters with their Moleskines).


How to Deal with a $3 Trillion Bully


I don't like bullies.  And I just ran into a $3 trillion one.  JPMorgan Chase Bank, armed with six partners at two AmLaw 100 firms (Wilmer Hale and McGuire Woods) took the truly unusual step of filing an objection to an amicus curiae brief I filed in a 9th Circuit case called McShannock v. JPMorgan Chase Bank N.A. in support of neither partyChase objects because the brief is late (which it is) and supposedly irrelevant to the disposition of the case.


Don’t mess with rules curbing derivatives risk


A regulatory proposal to ease the initial margin buffer on certain derivatives trading could be harmful to the economy.


The Sky Is Falling: Securitization, Chicken Little Edition


It's been quite a week for "valid-when-made (up)".