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Banking Law Prof Blog

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Last Entry: March 31, 2011 at 14:13:05

California Fires Cause Temporary Bank Closings

Posted on September 02, 2009
Emergency preparedness and disaster recovery plans are required for every bank. Due to wildfires, some banks are having to exercise those plans, much like banks affected by Hurricane Katrina. On August 31, the Office of the Comptroller of the Currency...

Mexico's Ano Horrible - Report on Financial Crisis

Posted on September 02, 2009
The Dallas Federal Reserve Bank has issued an intriguing report on the impact of the Global Financial Crisis on the Mexican economy and the prospects for recovery. Link: http://dallasfed.org/research/swe/2009/swe0903b.cfm (ag) Sept. 2, 2009, in Economy

Increasing Deposit Insurance Premiums and Report on the Condition of Texas Banks

Posted on September 02, 2009
The Federal Reserve Bank of Dallas has published an excellent explanation of the FDIC's assessments on banks to restore losses to the insurance fund incurred by reason of bank failures during this Recession. In addition to an informative discussion of...

B of A - Getting Out of Harm's Way?

Posted on September 01, 2009
The Wall Street Journal has an article today about Bank of America seeking to repay part of the Bailout money it received. Of course, the reason for repaying the money is to escape the intensive government scrutiny and restrictions that...

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George Soros and the Financial Crisis

Posted on August 31, 2009
It's not bedtime reading, but well worth considering: THE CRASH OF 2008 AND WHAT IT MEANS by George Soros. If you aren't already an adherent, you should ponder Soros' theories of "reflexivity" and "radical fallibility." Reflexivity, fully described in his...

Consumer Information about Credit Cards and Mortgages

Posted on August 31, 2009
FDIC's Consumer News highlights information for the public about recent changes to credit card rules, prohibitions against abusive lending practices, and revised consumer disclosures. Link: http://www.fdic.gov/news/news/press/2009/pr09158.html (ag) Aug...

Edge Act Jurisdiction

Posted on August 30, 2009
Here's a forthcoming article to watch for: "The 'Technicalities' of Edge Act Jurisdiction: Advocating for the Federal Courts' Adoption of and Adherence to a Uniform and Narrow Interpretation of 12 U.S.C. � 632," by Elizabeth Sheyn -- to be published....

Washington Post & Too Big To Fail

Posted on August 29, 2009
On Friday, the Washington Post ran a feature on the "too big to fail issue," complete with data to demonstrate that the big have gotten bigger as a result of the bailouts. Will this issue be addressed in the regulatory...

SEC, Bank of America, and Executive Compensation

Posted on August 28, 2009
The SEC is now saying that Bank of America acted in good faith but essentially made a careless error by not disclosing to investors its plans to pay bonuses to Merrill Lynch executives. (You won't be surprised to learn that...

Texas Association of Bank Counsel - 33rd Annual Convention

Posted on August 28, 2009
The Texas Association of Bank Counsel (TABC) will hold its 33rd Annual Convention in Ft. Worth, TX, on Oct. 8 and 9, 2009. Great topics and a great networking opportunity! Link: http://texasbankers.informz.net/texasbankers/data/images/2009_tabc_conf_bro...

Identity Theft: It Can Happen to Anyone

Posted on August 27, 2009
Today's story is that Federal Chairman Ben Bernanke has been a victim of identity theft. His wife's purse was stolen and identity thieves began using the family checkbook. Link: http://news.yahoo.com/s/afp/20090826/pl_afp/uscrimefinancebankbernankenewsweek_20090826232518 Remind banking law students that the Federal Trade Commission (FTC)...

Guaranty Bank - Second Largest Bank Failure for 2009

Posted on August 27, 2009
Last Friday, the Office of Thrift Supervision (OTS) closed Guaranty Bank, Austin, TX, and appointed FDIC Receiver. This is the 10th largest failure in U.S. history. Cost to the deposit insurance fund is estimated at $3 Billion. BBVA Compass, headquarted...

The Pathology of Too Big to Fail

Posted on August 26, 2009
Chairman of the Dallas Federal Reserve Bank Richard Fisher says that if we don't want to repeat the current unfortunate economic situtation in the future, we must "think long" and "exorcise the notion that an institution is too big to...

Will FDIC Need a Loan from Treasury?

Posted on August 26, 2009
AP Business Writer Stevenson Jacobs' article, "Agency That Insures Bank Deposits May Need Help," notes that tomorrow the FDIC will publish the amount of reserves it holds to satisfy deposit insurance claims. Only once before, during the Bank and S&L....

National Economic Update

Posted on August 25, 2009
On Monday, the Federal Reserve released its report on the "National Economic Update." Here's the summary: " A New Beginning? Recent data revisions show that output fell much more steeply last year than was first thought. Newly available monthly indicators...

Bernanke Renomination

Posted on August 25, 2009
Federal Reserve Chairman Ben Bernanke has been renominated by President Obama for a second term. Senate confirmation is required. Here's a link to Bernanke's nomination acceptance message posted today: Link: http://www.federalreserve.gov/newsevents/press/other/20090825a...

New RESPA FAQs

Posted on August 23, 2009
The Department of Housing and Urban Development (HUD) has posted new FAQs for its RESPA (Real Estate Settlement Procedures Act) regulations. Some new requirements were effective January 16, 2009. Other very significant changes involving revised Good Faith Estimates (GFEs) and...

Bernanke Reviews the Past Year of Crisis

Posted on August 21, 2009
Federal Reserve Chairman Ben Bernanke spoke today at the Kansas City Federal Reserve Bank's Annual Economic Symposium in Jackson Hole, Wyoming. His review of significant crisis points during the past year as well as the policy responses provides an instructive...

Fiction -- Or Is It?

Posted on August 20, 2009
A CONSPIRACY OF PAPER by David Liss is set in early 18th Century London, immediately before the South Sea Bubble burst. The intrigue of "stock jobbers" and the lengths to which companies will go to preserve an image of profitably...

The Federal Reserve's Discount Window

Posted on August 19, 2009
The Federal Reserve announced new collateral margin requirements for institutions that borrow at the discount window. The new Collateral Margins Table will be effective October 19, 2009, which allows institutions time to adjust their collateral portfolios...

Squam Lake Working Group on Financial Regulation

Posted on August 18, 2009
An excellent resource for current financial topics from pension reform to the optimal financial intitution regulatory structure can be found at the website indicated below. Fifteen academics from different schools and think tanks meet to discuss financial issues and produce...

Comparative Analysis: The Recession in Germany and in the U.S.

Posted on August 17, 2009
The Brookings Institution's Douglas J. Elliott provides an interesting comparision of the worldwide recession effects and public opinion in Germany and the U.S. Germany's economy may be harder hit because of its dependence on exports; however, the German public seems...

GAO Suggests More HMDA Reporting Needed

Posted on August 14, 2009
The Government Accountability Office (GAO) has submitted a report to Congress entitled "Fair Lending: Data Limitations and the Fragmented U.S. Financial Regulatory Structure Challenge Federal Oversight and Enforcement Efforts." One of the key recommendations is that Congress require financial institutions...

The Time Eater Clock - Fall Semester Approaches

Posted on August 13, 2009
This afternoon, I was preparing my Syllabus for Fall 2009 Banking Law and had occasion to consult my "Cambridge in America" wall calendar. The image for the month of August showed an amazing clock installed at Corpus Christi College, Cambridge...

Today's FOMC Statement: The Fed's Interest Rate and Liquidity Plans

Posted on August 12, 2009
The Federal Reserve Board's Federal Open Market Committee ("FOMC") issued a statement today announcing that it would keep the target federal funds interest rate range between 0% and 1/4% and that "exceptionally low levels of the federal funds rate for...

Texas Tech Banking School

Posted on August 11, 2009
The Rawls College of Business at Texas Tech University sponsors a Banking School every summer. I spoke this afternoon at the 36th Annual Texas Tech Banking School on "Legal Issues for Bankers". We've had an almost unprecedented number of changes...

New Exam Procedures for Consumer Protection Laws & Regs

Posted on August 10, 2009
The OCC announced today that it has issued a new electronic version of "Other Protection Laws and Regulations" -- part of the Comptroller's Handbook for examiners. When advising banks, it's always good to know what the examiners will be looking...

New Credit Card Rules Effective August 20, 2009

Posted on August 09, 2009
FDIC FIL-44-2009 (Aug. 6, 2009) reviews the Regulation Z (Truth in Lending Act) Open End Credit changes resulting from The Credit Card Accountability Responsibility and Disclosure Act of 2009 (the Credit CARD Act). The Federal Reserve Board has published Interim...

A Dead S&L, the FDIC, and Attorney Client Privilege Issues for a Big Law Firm

Posted on August 08, 2009
FDIC has sued the Houston law firm of Baker Botts seeking turnover of an internal investigation of Franklin Bank, a failed savings institution. The accounting firm of Ernst & Young is also a defendant in FDIC v. Baker Botts, 4:09-CV-...

Future Prospects for Our World-Wide Economy

Posted on August 07, 2009
Nouriel Roubini has an interesting article entitled "The Road Ahead for the Global Economy," in which he concludes that we narrowly missed what economists call "an L-shaped global near-depression," indicated by falling GDPs and fears of financial institution insolvencies...

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