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Banking Law

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Commentary on Banking Law

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Last Entry: March 30, 2011 at 23:38:00

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Increase In Foreclosures=Increase In Crime?

Posted on May 15, 2008
Not long ago, Pravda National Public Radio had a story on its "All Things Considered" afternoon show (to listen, follow this link) that discussed some of the aftershocks suffered by residents of California's "Inland Empire" due to the earthquake caused...


The Latest, If Not Greatest

Posted on May 14, 2008
Updating a couple of stories we've been following: Marc Dann resigned today, proving that even someone devoid of shame can read the handwriting on the wall when it's spray painted on the wall with HUGE CAPITOL LETTERS. Ohio Democrats wanted...


Most Banks Behind The Curve On Social Media

Posted on May 13, 2008
The folks at Social Media Today have posted a paper online entitled "Social Media and the Banking Industry" that contains some interesting findings and observations about the "new social media" and banks. First, and foremost, most banks don't "get it...


The Biggest Losers?

Posted on May 12, 2008
Today's editorial page of The Wall Street Journal, in an editorial entitled "The Biggest Housing Losers," answers the question "Who let the dogs out?" The WSJ points its finger at the Elton John of the House of Representatives, Barney Frank....


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NAR President-Elect Brays About Banks

Posted on May 11, 2008
The National Association of Realtors has long been a favorite target of this blog, primarily because we love to bag game that's easy to hunt, and NAR is so easy that it really ought to be considered roadkill. Last year,...


How About A Moratorium On Moratoriums?

Posted on May 08, 2008
Word came today from Teresa Rice, General Counsel of the Minnesota Bankers Association, that a major amendment was made on the Minnesota Senate floor on Monday of this week that exempts loans originated buy state or federal banks, savings banks,...


Not So Astonishing

Posted on May 07, 2008
Law professors Elizabeth Warren and Adam Levitin over at Credit Slips have got themselves worked up about "a new idea," an "astonishing" one (according to Professor Levitin), concocted by those dastardly national banks and federal thrifts: "They shouldn't have to...


A Word To The Unwise

Posted on May 06, 2008
I see by the attempted comments and e-mail that it's time to re-post this warning from last February. Predatory lending shills and mouthpieces are not only classless, they're clueless. No wonder they're so bereft of support from anyone other than...


True Men Of PR Genius

Posted on May 05, 2008
The past week's Stevie Wonder Award, presented to the financial institution or affiliated party that was so blind it could not see that it was stepping in a public relations cowpie of epic breadth and depth, goes to...[drum roll]...: It's...


Investigation Damns Dann

Posted on May 04, 2008
Ohio Attorney General Marc Dann's attention will likely be diverted by more than trial court judges berating him for pushing his political career by intervening in foreclosure proceedings. Less than a month after a public scandal exploded over allegations by...


Word Nerds Just Don't Get It

Posted on May 01, 2008
According to attorney and financial consultant Tom E. Greene, most lawyers suck at understanding numbers. At least, that's my blunt take on his more diplomatically-expressed views, as communicated to well-known law blogger Robert Ambrogi. Bob interviewed Tom for an article...


FDIC Solves Subprime Crisis

Posted on April 30, 2008
Last night, a reader alerted me to Damian Paletta's breaking news in The Wall Street Journal that the FDIC's Sheila Bair had assisted the Treasury Department by proposing a dandy little scheme to spend $50 billion in taxpayer funds to...


Sheila's Singing The Same Old One-Note Samba

Posted on April 29, 2008
Sheila Bair won't quit. Like the Everyready Bunny, she just keeps going, and going, and going, on and on, singing the same old tired, sad, off-key tune. The fact that her intended audience continues to passively-aggressively ignore her when she...


What We Have Here Is A Failure To Truncate

Posted on April 28, 2008
The Wall Street Journal's Law Blog had an update last Friday about the status of class action lawsuits filed by aggrieved consumers (in other words, by class action attorneys who've "discovered" lead plaintiffs) to punish merchants who left too much....


Lending Tree A Little Late In Cutting Off Network Access?

Posted on April 27, 2008
Luke Mullins, associate editor at US News & World Report and author of the blog "The Collar," had a post Thursday about a disturbing letter that former Lending Tree mortgage customers received this week. According to Lending Tree, "several former...


A Bi-Partisan Roll Back? Don't Bet On It

Posted on April 24, 2008
Since the US Congress spends a great deal of its time making life miserable for financial institutions in this country, your ears perk up when legislators on both sides of the aisle make noises about easing the regulatory compliance burden...


Cynicism or Stupidity? You Be The Judge

Posted on April 23, 2008
At the end of a long day, I tried to catch up with my "professional reading" (The Economist, The Wall Street Journal, a trade paper that doesn't list this blog in its roundup and, therefore, is dead to me, Sports...


Payday Legislation Larded Up, Then Buried

Posted on April 22, 2008
A cadre of Colorado legislators set out on a jihad earlier this year to eradicate the stink of payday lending from the pristine air of the Mile High State. They vowed to drive the bottom-feeding, blood-sucking, tobacco-spitting varmints back into...


Fannie's Fraud Action Fizzles

Posted on April 21, 2008
As Rod Stewart sang, "Some guys have all the luck." Certainly, Franklin Raines and Timothy Howard appear to be "fortunate sons." In August 2006, the Department of Justice dropped criminal investigations against the two former Fannie Mae officials. Last week,...


MMMMMMM! Chocolate!

Posted on April 20, 2008
Two years ago we reported on the views of law professor Fred Cate that when it comes to privacy protection, banks cannot rely on consumers to do the right thing. One of the other points that Cate made in his...


Preston Jumps From The Frying Pan Into The Fire

Posted on April 18, 2008
Steve Preston, a man credited with turning around (or failing to turn around, depending on your partisan agenda) the SBA, has been tagged to do the same for an Alphonso-less HUD. President Bush on Friday nominated Steve Preston, now head...


Big Law Feasts On Subprime

Posted on April 17, 2008
I don't know about my readers, but when I see a headline like this one from a recent issue of the Houston Business Journal ("Law Firms Brace For Subprime Fallout"), I envision a gaggle of shysters locked in an office,...


Wise Counsel

Posted on April 16, 2008
Mark Treanor's run as general counsel of Wachovia Corp. will end with his retirement this summer. Before he rides into the sunset, he's sharing his thoughts on what in-house and outside lawyers to banks ought to do and not do....


The More Things Change, The More They Really Change

Posted on April 15, 2008
What difference a decade (or two) makes. This time around, while other parts of the country are being hit by declining prices and increasing foreclosures, Texas looks comparatively peachy. Texas is bucking the national trend of rising property foreclosure rates,...


Culture Wars

Posted on April 14, 2008
Ethan Penner, the former CEO of Nomura Capital, wrote an Op-Ed piece in last Friday's The Wall Street Journal entitled "Our Financial Bailout Culture," that led me to believe momentarily that he and I are twins separated at birth, until...


Subprime (Sorta) Mea Culpa

Posted on April 13, 2008
Dallas Morning News business columnist Cheryl Hall recently interviewed Richard Bitner, a former subprime lender based in the Dallas suburb of Plano, Texas, and the author of an ex-insider's look at how the subprime debacle occurred and how to prevent...


Marky Marc Takes After His Role Model

Posted on April 10, 2008
Ohio's Attorney General, Marc "Grandstand" Dann, has done everything possible to insert himself, publicly of course, between borrowers and lenders and otherwise to do whatever it takes to follow in the footsteps of his role model, the late Eliot Spitzer...


Victims

Posted on April 09, 2008
According to today's The Wall Street Journal, the subprime crisis is sweeping a lot of elderly investors down the drain, many of whom didn't realize that they were investing in the subprime mortgage market. Instead, they thought they'd been sprinkled...


How Low Can You Go?

Posted on April 08, 2008
**WARNING: A LINKED STORY CONTAINS LANGUAGE SOME READERS MAY FIND OFFENSIVE, ESPECIALLY THOSE CURRENTLY RESIDING IN A MONESTARY. PROCEED AT YOUR OWN RISK** A reader sent me a link to this story before Easter, but it seemed sacrilegious to post...


Barney's Big Bailout

Posted on April 07, 2008
Last Thursday?s The Wall Street Journal had a scathing editorial entitled "Uncle Subprime." The gist of it is that Congress is aiming to make Uncle Sam the "subprime lender of last resort." In the name of preventing foreclosures, House Financial...


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