Does the Obama White House truly stand for consumer financial protection, or will it support Wall Street when it thinks no one is looking? That's the question that the Supreme Court served up today. The Supreme Court is considering whether to hear ... Read full article
Now for a break from Puerto Rico. ... Read full article
Some thoughts on the new rules for broker-dealer OLA cases, over at Dealb%k . ... Read full article
Ken Klee has argued that the Trust Indenture Act rider to the omnibus appropriations bill is just a "clarifying amendment" : ... Read full article
A large number of bankruptcy and corporate finance scholars, including several Slipsters, signed on to a letter to Congressional leadership regarding the proposed omnibus appropriations bill rider to amend the Trust Indenture Act . ... Read full article
One of the many creatures attempting to crawl its way onto the back of the omnibus appropriations bill is an amendment to the Trust Indenture Act. The Trust Indenture Act is the 1939 securities law that is the major protection for bondholders. Among ... Read full article
It's appropriations season and efforts to harass the CFPB seem to be going into overdrive. The latest scheme: hit the CFPB with financial reporting requirements unparalleled for any government agency. This little nugget of petty harassment is found ... Read full article
The Seventh Circuit Court of Appeals recently slammed Cook County Sheriff Thomas Dart for his actions trying to get Mastercard and Visa to stop processing payments for Backpage, an advertising website whose ads include various adult services (some legal, ... Read full article
The financial wonkosphere just doesn't get it about Glass-Steagall. Pieces like this one by Matt O'Brien concentrate on the questions of whether Glass-Steagall would have prevented the last crisis or whether it is better than other approaches ... Read full article
There’s an interesting new article out on the celebrated Massachusetts U.S. Bank v. Ibanez case that suggests that the defendant, Antonio Ibanez, was at the center of a property fraud ring. It's not clear to me that there was anything illegal ... Read full article
It’s easy for Progressives to get excited about the idea of postal banking: a public option for banking! What’s not to love? ... Read full article
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 ... Read full article
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 ... Read full article
Both sides in the interchange fee debate have pointed to a recent Richmond Fed study as evidence supporting their position ( here and here ). ... Read full article
Or a bit of this this and that. ... Read full article
I'm testifying tomorrow before Senate Judiciary Committee's Subcommittee on The Constitution (yes, that's the official capitalization), about the constitutionality of the Dodd-Frank Act. Short version: nothing to see here folks. Slightly ... Read full article
I agree with Adam about all that post- Starr hyperventilation . No, it does not mean that bailouts are over, that the Fed has been slapped down, or any of that lurid stuff. ... Read full article
Over at Dealb%k I talk about the confusing state of affairs regarding Dodd-Frank Orderly Liquidation Authority and the FDIC's new "single point of entry" (SPOE) approach to OLA. ... Read full article
Lately I have been teaching courses with names such as "Global and Economic Justice" and "History, Impacts and Regulation of Consumer Credit" instead of "Bankruptcy," "Secured Transactions" and "Chapter 11 ... Read full article
