MENU

Financial Regulation

Federal Reserve Accountability and the CHOICE Act - Podcast

Financial Services & E-Commerce Practice Group Podcast
Alex J. Pollock, Norbert J. Michel June 15, 2017

To whom is the Federal Reserve accountable?  Does the Fed's insistence on its "independence" mean it thinks the answer is: To no one?  Who should oversee the results, successful or unsuccessful, of the Fed's actions?  One answer was given by a former president of the New York Fed years ago: "The Congress which set us up has the authority and should review our actions at any time they want to, and in any way they want to."  The CHOICE Act, recently passed by the House Financial Services Committee would in its Title X., "Fed Oversight Reform," create greater Fed accountability to the Congress.This Federalist Society Teleforum explored the bill's provisions and the issues involved.

Featuring: 

  • Alex Pollock, Senior Fellow, R Street Institute
  • Norbert Michel, Senior Research Fellow, Financial Regulations and Monetary Policy, The Heritage Foundation

Consumer Financial Protection Bureau Update - April 2017 - Podcast

Financial Services & E-Commerce Practice Group Podcast
Wayne A. Abernathy, Julius L. Loeser April 19, 2017

Members of the Federalist Society’s Financial Services & E-Commerce Practice Group Executive Committee provided an update on recent important activity at the Consumer Financial Protection Bureau (CFPB). The call will cover many interesting topics including an update of PHH’s D.C. Circuit U.S. Court of Appeals case against the CFPB, a recent Executive Order which appears to apply to the CFPB, congressional activity regarding the CFPB, the CFPB’s recent fines and other actions, and the CFPB’s (and Federal Reserve Board’s) Office of Inspector General (OIG) audit report entitled “The CFPB Can Strengthen Contract Award Controls and Administrative Processes.” 

Featuring:

  • Hon. Wayne A. Abernathy, Executive VP for Financial Institutions Policy and Regulatory Affairs, American Bankers Association
  • Julius L. Loeser, Of Counsel, Winston & Strawn LLP

Bitcoin: Competitive Currency

Short video featuring Max Raskin
Max Raskin March 30, 2017

Can Bitcoin compete with other currencies around the world? Max Raskin, Research Fellow at the Institute for Judicial Administration at the New York University School of Law, discusses legal tender laws and the monopoly powers they give to central banks - and possible benefits that a virtual currency could provide to developing countries. 

Freddie & Fannie Shareholder Litigation Update - Podcast

Litigation Practice Group Podcast
Jason A. Levine, John Carney March 02, 2017

During the 2008 financial crisis, Congress provided Fannie Mae and Freddie Mac with billions of dollars in emergency funds to keep them afloat, supplemented by the investments of private investors who bet that these entities would return to profitability. In 2012, just as Fannie and Freddie were indeed becoming profitable again, the Government instituted a "net worth sweep" that required them to remit to the government nearly all of their profits every quarter. Fannie and Freddie have paid the government over $246 billion so far. In the process, the stock was rendered virtually worthless. Investors filed myriad lawsuits as the net worth sweep came into effect. After four years of litigation and an initial dismissal by the district court, the D.C. Circuit has now largely affirmed but also sent key contract-based claims for monetary relief back to the district court for further review. This Teleforum discusses this historic litigation, its implications for the housing market and the proper role of the Government, and the investors' prospects for success on their claims.

Featuring:

  • John Carney, Editor, Breitbart News
  • Jason A. Levine, Litigation Partner, Vinson & Elkins LLP