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Credit Enhancement: Letters of Credit, Guaranties, Insurance and Swaps (The Clash of Cultures)
Misrepresentations of Secondary Actors in the Sale of Securities: Does In re Enron Square with Central Bank?
Section 304 of the Sarbanes-Oxley Act of 2002: The Case for a Personal Culpability Requirement
Windfall Awards Under PSLRA
Corporate Director's Guidebook, 4th Edition
Introduction to the 2004 Annual Survey of Consumer Financial Services Law: Where Do We Go From Here?
Truth in Lending Developments
Amendments to Regulation B and the Official Staff Commentary
Recent Developments in Motor Vehicle Leasing and Litigation
69(3): 1161 - 1177 (May 2004)
In the context of constricting market pressures, the motor vehicle leasing industry witnessed various developments in 2003 that will impact vehicle lessors for the foreseeable future. This Article discusses several of these developments.
State and Local Predatory Lending Issues and Development
Federal Preemption and Federal Banking Agency Responses to Predatory Lending
69(3): 1207 - 1214 (May 2004)
This Article provides an overview of recent developments in federal preemption of mortgage loan regulation.
69(3): 1215 - 1225 (May 2004)
On December 4, 2003, President George W. Bush signed into law the Fair and Accurate Credit Transactions Act of 2003, which amends the FCRA. The primary impetus for the Act was to prevent the expiration of the FCRA’s preemption provisions which establishes uniform national rules for a number of key credit reporting functions. In addition to making the preemption provisions permanent, however, the Act imposes significant new obligations on banks, retailers, insurance companies, finance companies, consumer reporting agencies, and other participants in the credit reporting systems.
Update on State Consumer Financial Privacy Legislation and Regulation
69(3): 1241 - 1249 (May 2004)
In 2003, the FTC amended its rules in an effort to protect consumers from unwanted telemarketing calls by prohibiting telemarketers from calling telephone numbers registered with the FTC unless certain exemptions apply. As of September 17, 2003, Americans had registered more than fifty million telephone numbers with the national do-not-call registry, which opened on June 27, 2003. Although by far the most significant, the national do-not-call registry was only one of a number of important federal and state developments in 2003 restricting the practices of businesses that solicit consumer for products and services through telemarketing. This Article summarizes key provisions of these federal and state law developments.
69(3): 1251 - 1264 (May 2004)
This Article summarizes recent court decisions, consent decrees, and other resolutions of enforcement actions that have arisen as private litigants and regulatory agencies continue to address consumer privacy issues. The Article also provides an update regarding the significant developments in privacy actions discussed in prior survey articles. The first part of this Article addresses cases relating directly to the GLB Act and the financial services industry. The second part of this Article discusses case related to data security issues, primarily on the Internet. The third part of this Article discusses cases brought under the Children’s Online Privacy Protection Act of 1998.
69(3): 1265 - 1274 (May 2004)
The authors believe that a close reading of Bazzle reveals that a clear majority of the U.S. Supreme Courts Justices would enforce a “no-class action” clause and that it is only a matter of time before the Supreme Court squarely so holds.
Consumer Protections Afforded by the Sarbanes-Oxley Act of 2002
69(3): 1287 - 1297 (May 2004)
The Article provides an overview of the Final Rule version of the USA PATRIOT Act requiring financial institutions to establish standards for customers to identify their identity when opening an account.
69(3): 1299 - 1320 (May 2004)
This Article will analyze recent developments affecting the bank and thrift industries in conducting trust, fiduciary, and asset management activities for members of the public.
69(3): 1321 - 1334 (May 2004)
As always, the sheer volume of bankruptcy cases means that there are a great number of decisions and issues which are not covered in this survey, including a large number of matters considered only at the trial level. We have tried to select bankruptcy cases of interest which have received attention from circuit courts and the U.S. Supreme Court. These cases reflect the diversity of issues noted above, but space limitations require a primary focus on traditional bankruptcy issues including the automatic stay, property of the estate, discriminatory treatment, and Chapter 13 cram downs.
69(3): 1321 - 1334 (May 2004)
This Article contains a brief analysis of several recent developments relating to current risks and challenges faced by financial institutions relating to online banking services and Internet payment systems.
Consumer Financial Services Survey - May 2004