Financial Services & E-Commerce Practice Group Podcast
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.”
Short video featuring Max Raskin
- Hon. Wayne A. Abernathy, Executive VP for Financial Institutions Policy and Regulatory Affairs, American Bankers Association
- Julius L. Loeser, Of Counsel, Winston & Strawn LLP
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. Litigation Practice Group Podcast
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.
Short video featuring Max Raskin
- John Carney, Editor, Breitbart News
- Jason A. Levine, Litigation Partner, Vinson & Elkins LLP
Max Raskin February 23, 2017
Is Bitcoin property or currency in a court of law? Max Raskin, Research Fellow at the Institute for Judicial Administration at NYU Law, discusses how Bitcoin fits into our laws and what it means for the future of virtual currency jurisprudence. Financial Services & E-Commerce Practice Group Podcast
Hester Peirce January 27, 2017
Reframing Financial Regulation: Enhancing Stability and Protecting Consumers, edited by Hester Peirce and Benjamin Klutsey, brings together a diverse set of authors to provide alternative ways to regulate different aspects of the financial system. The chapters embody approaches that rely less on centralized, top-down regulations and more on market discipline and oversight. The recently published book, which reflects a wide variety of viewpoints and approaches, seeks to initiate a lively conversation about how a thoughtfully regulated, market-based financial system can facilitate risk sharing, efficiently provide access to capital, and enable households to save for the future. Senior Research Fellow and the Director of the Financial Markets Working Group at the Mercatus Center at George Mason University, Hester Peirce, joined us to discuss this new book.
- Hester Pierce, Senior Research Fellow and the Director of the Financial Markets Working Group at the Mercatus Center