Search Results for ‘"community reinvestment act"’

Banking and finance roundup

  • Senator Elizabeth Warren and her Accountable Capitalism Act represent an attempt to revive a theory of the corporation that fell out of favor long ago, that corporate status is a grant of favor in exchange for which the state may demand services or cooperation [Abdurrahman Kayiklik, Columbia Law School Blue Sky Blog; earlier with links to Warren on corporate governance and other topics]
  • Bill in Congress would enlist banks in watching gun sales [Robert VerBruggen/NRO; Noah Shepardson, Reason] NRA, in litigation, contends it has evidence New York state officials negotiated with U.K.’s Lloyds to curtail insurance availability in a way specifically targeted at the association [Stephen Gutowski thread]
  • “The Misguided Quest to Limit Choice in Consumer Credit” [Diego Zuluaga]
  • “The CFPB and Payday Lending Regulations” [Peter Van Doren last February; earlier on payday lending; Federalist Society Regulatory Transparency Project video on regulation-through-investigation of payday lenders with Jamie Fulmer, Chris Peterson, and Brian Knight]
  • Federalist Society podcast on Community Reinvestment Act with Aaron Klein and Diego Zuluaga;
  • Learned a new word, lutulent, which means “muddy, turbid, thick” and is more or less the opposite of luculent (“lucid, clear, transparent”) [Keith Paul Bishop on unclarities in new California law requiring gender quotas on boards (“a lutulent mess”); earlier here, etc.]

Banking and finance roundup

  • Neat trick: banks can get Community Reinvestment Act credit for lending in “low-income census tracts” even when that means extending $800K mortgages to gentrifiers [Diego Zuluaga, Politico, related policy analysis and Cato podcast]
  • Sen. Elizabeth Warren has a plan to regulate private equity. It’s not good [Steven Bainbridge] When you’ve lost veteran liberal columnist Steven Pearlstein… [Washington Post]
  • Speaking of terms with ugly histories, maybe it’s time for Sens. Warren and Sanders to retire the metaphor of the financial sector as vampires or “vultures” engaged in “sucking” or “bleeding” [Ira Stoll, related]
  • Volume of securities litigation is on sharp upswing, policy remedies needed [Kevin LaCroix/D&O Diary and more, Chubb “Rising Tide” report] Rising in Australia too [Nicola Middlemiss, Insurance Business Australia]
  • Unconstitutionality of CFPB structure hasn’t gone away and neither has the need for the Supreme Court to tackle the issue [Ilya Shapiro on Cato certiorari amicus brief in Seila Law LLC v. CFPB] Appointment process for Puerto Rico financial oversight board under PROMESA law is of doubtful constitutionality [Shapiro on Cato amicus brief in Financial Oversight & Management Board for Puerto Rico v. Aurelius Investment, LLC]
  • In an age of professional consultants, why does the law continue to require corporate governance to be delivered by way of individual board members? Firms specializing in board services could offer attractive alternative [Todd Henderson, Charles Elson, Stephen Bainbridge, Federalist Society Forum]

December 28 roundup

Banking and finance roundup

  • But not before extracting $8.5 B: “Finding Little Evidence Of Foreclosure Fraud, Feds Give Up” [Daniel Fisher, Forbes; Kevin Funnell] Can Baltimore distinguish vindication from extortion? [Funnell]
  • Dear grandstanders in Congress and press: by law AIG’s board had to consider request to join bailout suit [Bainbridge, John Carney]
  • “Plaintiff Lawyers in Citigroup Case Seek Big Markup For Outside Attorneys” [Daniel Fisher, more, ABA Journal]
  • “Everyone knows” CRA (Community Reinvestment Act) lending was too small in volume to be a major factor in bubble. Is everyone right? [NBER paper, SSRN via Cowen, Tuccille]
  • Beware the CFPB’s Civil Investigative Demand (CID) power [Funnell, more]
  • “Investor class action system needs review – judge” [Nate Raymond, Reuters]
  • “Are the New Wave Say-on-Pay Lawsuits ‘Gaining Steam’?” [Kevin LaCroix]

April 30 roundup

  • “Sioux split on suit seeking money for Black Hills” [Associated Press]
  • More on nomination of Mothers Against Drunk Driving CEO to head highway safety agency [Balko, see also comments on earlier post]
  • Push by advocates in Congress to extend shakedown-enabling Community Reinvestment Act to all financial institutions [Victoria McGrane, Politico] And some numbers from Bank of America raise doubts about those oft-heard “CRA default rates lower than regular default rates” assertions [Weisenthal, Business Insider]
  • Illinois attorney general Madigan to Craigslist: purge vice ads or I’ll see you in court [L.A. Times]
  • Here and there, acknowledgments in the press of the damaging effects of laws entrenching auto dealers against termination [L.A. Times via Craig Newmark]
  • How many people get arrested for “contempt of cop”? [Coyote Blog] Blogosphere has helped spread awareness of police-abuse issues [Greenfield]
  • Virginia Postrel: I told you so on that light bulb ban story [earlier]
  • U.K. law reform panel: “charlatan” and “biased” expert witnesses put defendants at risk of wrongful conviction [Times Online]

April 4 roundup

  • The wages of addiction: former basketball star Roy Tarpley settles his $6.5 million ADA lawsuit against NBA and Dallas Mavericks [Randy Galloway, Fort Worth Star-Telegram, Sports Law Blog]
  • One result of litigation-fed “vaccines cause autism” scare: parents turn to dangerous quack treatments [Arthur Allen, Slate; in-depth coverage at Kathleen Seidel’s and Orac’s sites]
  • Julie Hilden on First Circuit “true statements can be defamatory” ruling [FindLaw, earlier here and here]
  • More coverage of conviction of Kentucky lawyers for grabbing much of fen-phen settlement [Louisville Courier-Journal, earlier]
  • Judge dismisses most counts in lawsuit against Richard Laminack of Texas’s O’Quinn law firm [Texas Lawyer, earlier; FLSA overtime claims remain]
  • All but three of the outstanding 9/11 airline suits due to settle for $500 million [AP/NorthJersey.com]
  • One needn’t make the Community Reinvestment Act a scapegoat for unrelated credit woes to recognize it as an ill-conceived law [Bank Lawyer’s Blog]
  • U.K.: Woman who plays classical music to soothe horses told she must pay for public performance license [Telegraph]

Microblog 2008-10-31

  • Beck & Herrmann skewer Waxman report on drug tort pre-emption [Drug & Device Law h/t Ted; much more at PoL] #
  • Good news, Fed Circuit in Bilski case limits business method patents [AP, Patently-O, Parloff] #
  • “Silicon Valley Stands United Against Prop. 8” [TechCrunch] # Not too late to donate against the proposition whether or not you live in California [before you forget] #
  • Crash-faking ring in Queens targeted Asian drivers [NY Times] #
  • Community Reinvestment Act: bogeyman in housing mess, or unrelated red herring? Truth somewhere in between [Husock, City Journal] #
  • “Dopeler Effect” = tendency of stupid ideas to seem smarter when they come at you rapidly [@legalblogger] #
  • Going to go as Wall Street and terrify everyone: Happy Hallowe’en. #