A lawsuit against members of the wealthy Getty family exposes the intricacies of state trust law.
banking
Posted inEconomic Policy
Regulators Prevented a Crypto-Fueled Economic Downturn
As Congress discusses crypto regulation, it’s important to note that the most important regulation has already been done.
Posted inMoney, Politics, and Power
Wells Fargo Wants to Buy Its Way Out of Trouble
CFPB director Rohit Chopra has other ideas.
Posted inEconomic Policy
KeyBank Promised to Increase Low-Income Lending, Then Did the Opposite
The National Community Reinvestment Coalition charges that the bank failed to follow through on written commitments that helped get a merger approved.
Posted inEnergy and the Environment
New York’s Chief Financial Regulator Promised Climate Action This Year. Where Is It?
Wall Street watchdog Adrienne Harris said her department would release climate change guidance for banks in 2022. She’s yet to publish a draft.
Posted inEconomic Policy
Top Stablecoin Firms Are Under Federal Investigation
Stablecoin legislation is the most likely crypto policy in the next Congress. But the top firms all face questions from law enforcement.
Posted inMoney, Politics, and Power
We Already Have Laws to Stop Crypto Fraud
Forget Washington’s urgency to design a regulatory regime for crypto. It’s better to treat it like any other illegal operation.
Posted inTAP
Bankman and the Bastardization of Bankruptcy
Today on TAP: He gets to cheat his customers, write off debts, and then keep control of his company? (Yup, that’s how bankruptcy often works for big dogs.)
Posted inMoney, Politics, and Power
The Biden Administration Does Not Need Another Wall Street Adviser
The White House is considering a finance recruit whose career has been directly at odds with all of President Biden’s accomplishments.
Posted inTAP
Sam Bankman-Fried: A Common Crook
Today on TAP: With luck, his fall will take the whole crypto sector with him.