Banking Law Prof Blogtag:typepad.com,2003:weblog-5214172009-07-14T14:25:10ZA Member of the Law Professor Blogs NetworkTypePadBankingLawProfBloghttp://feedburner.google.comAmerican Banker ViewPoint Articles on Supreme Court Preemption Opiniontag:typepad.com,2003:post-6a00d8341bfae553ef01157203184c970b2009-07-14T10:25:10-04:002009-07-14T14:26:53ZWe'd rather litigate than adopt consumer protections. That's what some of these opinion pieces are saying, including today's American Banker article by Cheyenne Hopkins, "A Preemption of Clarity," a collection of remarks by lawyers. Of course, one or two comments...Banking LawProfPartisan Politics - Fiddling While Rome Burnstag:typepad.com,2003:post-6a00d8341bfae553ef0115710a7a86970c2009-07-13T17:39:50-04:002009-07-13T21:39:50ZIt's political-grandstanding-as-usual in Washington. My grandmother's phrase for this was "just talking to hear your teeth rattle." When issues facing all of us in this country are so complex, why can't our elected officials work together for positive solutions? That's...Banking LawProfFinCEN MIA??tag:typepad.com,2003:post-6a00d8341bfae553ef011571081301970c2009-07-13T08:55:31-04:002009-07-13T12:55:31ZIf you check the Financial Crimes Enforcement Network (FinCEN) website, you won't find a lot of current substance. There are three links to statements justifying all the paperwork involved in filing Suspicious Activity Reports (SARs): "Bank SARs Lead to Discovery...Banking LawProfWhat Happens to Restructured Loans and Bank Capitaltag:typepad.com,2003:post-6a00d8341bfae553ef011571040932970c2009-07-12T11:08:11-04:002009-07-12T15:08:11ZOne-to-four-family mortgage loans usually have a risk-weighting of 50% for purposes of calculating a bank's capital requirements. Once they're restructured, they receive a risk-weighting of 100%. Banks suddenly need a lot more capital to balance these assets that have been...Banking LawProfReworking Second Mortgagestag:typepad.com,2003:post-6a00d8341bfae553ef011571f4f985970b2009-07-11T12:01:27-04:002009-07-11T16:01:27ZUnder the Home Affordable Modification Plan (HAMP), banks may begin working with Treasury to refinance second mortgages, including home equity loans, into a government-subsidized program. This part of the HAMP could get up and running in August. Texas lawyers will...Banking LawProfFASB Combats Disclosure Overloadtag:typepad.com,2003:post-6a00d8341bfae553ef011571e953d6970b2009-07-09T20:54:46-04:002009-07-10T01:00:22ZReally. That's what the July 8, 2009, announcement from the Financial Accounting Standards Board (FASB) said. Robert H.Herz, FASB Chairman discussed a new project to make financial statements more effective, coordinated, and less redundant. "Many constituents have expressed concerns about...Banking LawProfWhen Agencies Combine: Lessons from the Federal Housing Finance Agencytag:typepad.com,2003:post-6a00d8341bfae553ef011571e03070970b2009-07-09T00:02:08-04:002009-07-09T04:02:08ZIt's been a year since GSE oversight was reconfigured. Previously, the Department of Housing and Urban Development (HUD) was responsible for affordable housing goals for Fannie Mae and Freddie Mac, while Office of Federal Housing Enterprise Oversight was responsible for...Banking LawProfSEC, Corporate Governance, and Executive Compensationtag:typepad.com,2003:post-6a00d8341bfae553ef011570e7d0b6970c2009-07-08T16:18:10-04:002009-07-08T20:18:10ZThe Securitis and Exchange Commission voted to propose two new rules relating to Executive Compensation. Each proposed rule has a 60-day Comment Period following publication in the Federal Register. 1. Proposed Rule requiring public companies receiving money from the Troubled...Banking LawProfResilience: Points to Ponder for Financial Regulatory Reformtag:typepad.com,2003:post-6a00d8341bfae553ef011570e040d9970c2009-07-07T19:48:19-04:002009-07-07T23:48:19ZIn the July issue of the Texas Bar Journal, State Bar President Roland Johnson discusses Jamais Cascio's article, "Resilience: If the Financial Crisis Has Taught Us Anything, It Is That Brittle Systems Can Fail Catastrophically." My comments: Key points in...Banking LawProfThe Cambridge University Chest - Better Than Keeping Your Money Under the Mattresstag:typepad.com,2003:post-6a00d8341bfae553ef011571d3c23c970b2009-07-07T12:47:03-04:002009-07-07T16:47:03ZHaving begun my career as a banking lawyer with FDIC's Washington, D.C. office, I have a keen interest in how banks originated and in how they assured the safety of their funds long before deposit insurance. Another part of my...Banking LawProfClark Abrahams and the Comprehensive Credit Assessment Framework (CCAF)tag:typepad.com,2003:post-6a00d8341bfae553ef011571d27d83970b2009-07-07T09:12:35-04:002009-07-07T13:13:17ZThis week, I've been talking by e-mail with Clark Abrahams, long-time financial institutions compliance advisor and author of CREDIT RISK ASSESSMENT: THE NEW LENDING SYSTEM (2009). In his July 2, 2009, blog post, he discusses the proposed Consumer Financial Protection...Banking LawProfBanks and the Right of Setoff - Lehman Brothers Bankruptcy Illustrates a Potential Pitfalltag:typepad.com,2003:post-6a00d8341bfae553ef011570d45f01970c2009-07-06T13:28:46-04:002009-07-06T17:28:46ZEstablished law says that even after a bankruptcy petition is filed, a bank may have the right to offset amounts in an account owned by the debtor against loans the same debtor owes to the bank -- WITH APPROVAL OF...Banking LawProfBank of America and Merrill Lynch - How Did a Private Deal Become a Public Bailout?tag:typepad.com,2003:post-6a00d8341bfae553ef011570cfa039970c2009-07-05T20:19:43-04:002009-07-06T00:19:43ZThe U.S. House of Representatives Committee on Oversight and Governnment Reform is conducting a series of hearings to examine Bank of America's acquisition of Merrill Lynch, which started as an unasisted purchase, but subsequently required an extra $20 Billion in...Banking LawProfIdeas for Teaching Banking Law When Everything Is Changingtag:typepad.com,2003:post-6a00d8341bfae553ef011571af0f9b970b2009-07-03T15:48:52-04:002009-07-03T19:50:04ZHere's a discussion Cassandra Havard, Banking Law Professor at the University of Baltimore School of Law, would like to initiate. She says: "I'm writing to several banking law colleagues to ask how you've changed your syllabus since the financial crisis...Banking LawProfWhat Exactly Is a Dual Banking System?tag:typepad.com,2003:post-6a00d8341bfae553ef011570ae3572970c2009-07-02T14:44:12-04:002009-07-02T18:44:12ZOne reader of this blog asks, "What exactly is a dual banking system?" So here's the background: In the U.S. today, we have two types of bank charters: 1. Each State has the authority to charter and supervise banks within...Banking LawProfAnalyzing the Consumer Financial Protection Agency Act of 2009tag:typepad.com,2003:post-6a00d8341bfae553ef011570a8efb5970c2009-07-02T00:08:09-04:002009-07-02T04:17:56ZOn June 30, 2009, the administration delivered to Congress legislation which provides details behind the broad Financial Regulatory Reform White Paper. The draft “Consumer Financial Protection Agency Act of 2009” raises many critical issues, including: • Mission and Scope of...Banking LawProfArthur Wilmarth Interview on Cuomo Decisiontag:typepad.com,2003:post-6a00d8341bfae553ef0115719011c1970b2009-06-30T11:07:27-04:002009-06-30T15:08:42ZNational Public Radio talked with George Washington University Law Professor Arthur Wilmarth yesterday. He is a highly regarded proponent of the dual banking system and an opponent of aggressive federal preemption in the financial institutions arena, as well as a...Banking LawProfAnalysis of the Cuomo Opiniontag:typepad.com,2003:post-6a00d8341bfae553ef011571891d53970b2009-06-29T15:53:28-04:002009-06-29T20:02:50ZToday, the U.S. Supreme Court delivered its opinion in Cuomo v. Clearing House Association, upholding the power of States to enforce their own non-preempted consumer protection laws by bringing suit against national banks and their affiliates. This opinion was one...Banking LawProfSupreme Court Overturns OCC's Preemptive Regulation in Cuomo v. Clearing House Associationtag:typepad.com,2003:post-6a00d8341bfae553ef0115709319f3970c2009-06-29T14:01:39-04:002009-06-29T18:02:51ZThe U.S. Supreme Court released its opinion in Cuomo v. Clearing House Association this morning. The good news for States and for consumer protection is that the decision invalidates an Office of the Comptroller of the Currency ("OCC") regulation to...Banking LawProfExtending Full FDIC Coverage for Payroll Accountstag:typepad.com,2003:post-6a00d8341bfae553ef011571803529970b2009-06-28T19:30:54-04:002009-06-28T23:31:42ZFDIC is proposing two alternatives for phasing out the Transaction Account Guarantee Program, originally set to expire December 31, 2009. Option One: The program, which provided full FDIC coverage of non-interest-bearing accounts such as payroll accounts (which often exceed insured...Banking LawProf