We study the impact of the Community Reinvestment Act (CRA) on access to consumer credit since 1999 using an individual-level panel and three distinct identification strategies: a regression discontinuity design centered on a CRA-eligibility cutoff; a comparison of neighboring census blocks; and...

The great financial crisis and the euro area crisis led to a substantial reform of financial safety nets across Europe and - critically - to the introduction of supranational elements. Specifically, a supranational supervisor was established for the euro area, with discrete arrangements for...

We investigate the impact of bank disclosure regulations on local business activities by exploiting the 2005 Community Reinvestment Act (CRA) reform, which exempted a group of banks from federal mandatory disclosure requirements for geographic loan distribution. We find that low and moderate...

This paper investigates the relationship between legal origin and banks' risk-taking behavior. We employ GMM to study a sample of both Islamic and conventional banks from 14 dual banking economies from 2005-2018. Our findings can be summarized as follows: (a) bank risk-taking and legal origin...

This paper analyzes how bank regulation that promotes greater access to credit impacts the financing of targeted small firms. It develops a model where banks compete with trade creditors to fund small firms and applies it to study the effects of the Community Reinvestment Act (CRA). The...

We estimate the impact of the Community Reinvestment Act (CRA) on small business lending in lower-income neighborhoods. Using 2004-2016 panel data on census tracts, we apply a combined regression discontinuity and fixed effect method. We find that the number of small business loans increases by...

The pandemic crisis has accelerated the entry of financial technology (“fintech”) firms into the banking industry. Some of the new fintech banks are owned or controlled by commercial enterprises. Affiliations between commercial firms and fintech banks raise fresh concerns about the dangers...

The new Illinois Bank Holding Company Act permitting the formation of multibank holding companies creates strategic opportunities as well as threats for banks both inside and outside the state. The author analyzes the advantages and disadvantages of three types of expansion strategies that are...

In this paper, I consider the case of supervisory cooperation among bank regulators where voluntary cooperation (soft law) over a period of 50 years has become hard law (regulations and directives) within the European Union. Driven by major international bank failures or financial crises,...

Bank bailouts during periodic financial crises aim to stop financial panic and restore the stability of the financial system. Even if they are undesirable, future bank bailouts are unavoidable due to political and political economy reasons, whether or not they are regulated or economically...

The Indian banking industry has its foundations in the 18th century, and has had a varied evolutionary experience since then. The initial banks in India were primarily traders’ banks engaged only in financing activities. Banking industry in the pre-independence era developed with the...

The amendment and replacement of the Banks and Other Financial Institutions Act (BOFIA) 2004 had long been touted to be the next major milestone in the country’s ambitious drive towards creating an enabling business environment in the country and improving the Nigerian investment climate. The...

In 1997, Japan’s banks were in crisis due to hundreds of billions of dollars of non-performing real estate loans. In response, the government performed three rounds of capital injections in 1998, 1999, and the early 2000s. The capital injection of 1999, authorized by the Prompt...

Banks always have someone watching over their shoulders, gauging compliance with law, evaluating risk, and correcting behavior. This is bank supervision. We expect a lot from bank supervision. It is supposed to ensure that banks operate in a safe and sound manner, mitigate systemic risk in the...

The Community Reinvestment Act (CRA) requires banks to lend to low- and moderate-income (LMI) households in the areas where they take deposits. But it has become obsolete.We have serious reservations as to whether any regulatory agency could have the wisdom necessary to administer such a system...

Amendment No. 9 of 2006 of the Kenya Banking Act introduced the in duplum rule into Kenyan legislation. The rule provides that with respect to non-performing loans, only the principal owing when the loan becomes non-performing; contractual interest not exceeding the principal owing when the loan...

Banking systems operate as the beating heart in each country's economy. Subsequently the flaws and shortcomings existing in this system have a direct impact on the major sections of economy. In fact, the designers of the new banking system in Iran have started simulating the system of interest...

In July 2020, the Senate of the Federal Republic of Nigeria for the first time since 29 years passed a Bill to repeal the Banks and Other Financial Institutions Act (BOFIA) Cap B3 Laws of the Federation of Nigeria 2004 and re-enact the Banks and Other Financial Institutions Act (BOFIA) Cap B3...

Banking law is the branch of civil law which tries to perpetuate credibility of banking business. Good governance, customer protection, transparency and financial safety are the major concern of banking jurisprudence. In contemporary time, banking business is much risky job across the globe...

When are banks fiduciaries of their customers and clients? This question is of more than theoretical interest given the organizational structure of modern financial institutions and the broad-ranging functions they perform. In this chapter of the Oxford Handbook of Fiduciary Law, I canvass...

This study provides new evidence on the impact of the Community Reinvestment Act (CRA) on mortgage lending by taking advantage of an exogenous policy shock in 2014, which caused significant changes in neighborhoods' CRA eligibility in the Philadelphia market. The loss of CRA coverage leads to an...

Kurz und prägnant bringt Ihnen das vorliegende Werk die prüfungsrelevanten, in zahlreichen Vorlesungen durchgesprochenen Stoffinhalte konkret ins Gedächtnis. Anhand von Fragen und Fällen trainieren Sie die für das erfolgreiche Bestehen der Prüfung relevanten Fachkenntnisse. Der Textteil...

In May 2021, New York lawmakers introduced a bill to amend the banking law concerning restructuring unsustainable sovereign and subnational debt (Bill). This amendment offers effective mechanisms to restructure unsustainable sovereign and subnational debt. This article seeks to argue that once...

This study analyzes information production and trading behavior of banks with lending relationships. We combine trade-by-trade supervisory data and credit-registry data to examine banks' proprietary trading in borrower stocks around a large number of corporate events. We find that relationship...

Chapter 1: Introduction: Global Perspectives in FinTech: Law, Finance, Technology -- Chapter 2: FinTech Regulation - A Key to Financial Stability -- Chapter 3: Privacy, Data Protection, and Public Interest Considerations for FinTech -- Chapter 4: Financial Crimes in the Age of the Digital...

The government and the Central Bank of Haiti (BRH) aim to improve financial inclusion to foster more inclusive economic growth. With the support of the World Bank, the government developed a national financial inclusion strategy in 2014. Since financial cooperatives play an important role for...

This paper discusses key legal issues in the design of Board Oversight in central banks. Central banks are complex and sophisticated organizations that are challenging to manage. While most economic literature focuses on decision-making in the context of monetary policy formulation, this paper...

This paper examines the relationship between the Community Reinvestment Act (CRA) and bank branching patterns, measured by the risk of branch closure and the net loss of branches at the neighborhood level, in the aftermath of Great Recession. Between 2009 and 2017, there was a larger decline in...

The present study contains a further update of the comprehensive overview of the evolution of European (EU) banking law under the influence of public international banking law. It is structured in two Chapters. Chapter I, entitled “Public International Financial Law (Regulation)” contains...