Banking and finance roundup
High cross-border remittance costs for globally mobile workers slow ascent from poverty, and know-your-customer and money-laundering regulations have made things worse [Money and Banking] “The Supreme...
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Gov. Jerry Brown signs into law California bill imposing minimum quota for women on corporate boards: “it’s very hard to see how this law could be upheld” [Emily Gold Waldman, PrawfsBlawg, earlier,...
View ArticleOur inside tips vs. your inside tips
Concurring in a Second Circuit opinion declining to overturn an insider trading conviction in the case of U.S. v. Walters, Judge Dennis Jacobs points out “egregious” FBI leaks and “notices the irony...
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Progressive sentiment vs. actual progress: Philadelphia bans cashless stores [Jeffrey Miron; related, Billy Binion, Reason (council member thinks city should legislate against “elitism”), Joe Setyon,...
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“In the banking world, with which I am familiar, the general belief has been that you disobey supervisory guidance at your peril. That sounds like law and regulation, but without the open process and...
View ArticleHere come the IPO lawsuits
“With the spate of unicorn startups going public in 2019– including Airbnb, Slack, and WeWork–experts are forecasting a surge in IPO litigation, and some worry it may deter companies from ringing the...
View ArticleFederal judge: time to end “racket” of “worthless” merger litigation
“U.S. District Judge Thomas Durkin of Chicago has thrown down the gauntlet: In a ruling issued [June 24], he said it’s time to end the ‘racket’ of ‘worthless’ M&A [mergers and acquisitions]...
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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...
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Supreme Court poised to strike down structure of Consumer Financial Protection Bureau (CFPB) as unconstitutional [Ilya Shapiro, National Review] No love lost between Elizabeth Warren’s, Barack Obama’s...
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“Comparing the 2008 financial crisis to the COVID-19 market upheaval” [Stephen Bainbridge, with chart] Fed has tried getting involved directly in smaller business lending before, and it hasn’t worked...
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