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Who\u27s Looking Out for the Banks?
Get PDFWhen the Gramm-Leach-Bliley Act authorized financial conglomeration in 1999, Professor Arthur Wilmarth, Jr. presciently predicted that diversified financial holding companies would try to exploit their bank subsidiaries by transferring government subsidies to their nonbank affiliates. To prevent financial conglomerates from taking advantage of their insured depository subsidiaries in this way, policymakers instructed a bank\u27s board of directors to act in the best interests of the bank, rather than the bank\u27s holding company. This symposium Article, written in honor of Professor Wilmarth\u27s retirement, contends that this legal safeguard ignores a critical conflict of interest: the vast majority of large-bank directors also serve as board members of their parent holding companies. These dual directors are therefore poorly situated to exercise the independent judgment necessary to protect a bank from exploitation by its nonbank affiliates. This Article proposes to strengthen bank governance-and better insulate banks from their nonbank affiliates-by mandating that some of a bank\u27s directors be unaffiliated with its holding company. As long as banks are permitted to affiliate with nonbanks, this reform is essential to ensure that someone is looking out for the well-being of insured depository institutions
One Step Forward, Two Steps Back: How Attorney General Review Undermines Our Immigration Adjudication System
Get PDFSenate Journal History
Get PDFhttps://scholar.law.colorado.edu/colorado-house-and-senate-journals/1586/thumbnail.jp
Concerning Limitations on Purchasers\u27 Claims for Sales and Use Tax Refunds
No full texthttps://scholar.law.colorado.edu/session-laws-2001-2050/10453/thumbnail.jp
Concerning a Requirement That the Transparency Online Project Web-Based System Include the Name of the Vendor Paid in Connection With Each Expenditure Included in the System
No full texthttps://scholar.law.colorado.edu/session-laws-2001-2050/10451/thumbnail.jp
Concerning Suspending the Requirement for a Five-Year Appropriation for an Act That Causes a Net Increase in Imprisonment
No full texthttps://scholar.law.colorado.edu/session-laws-2001-2050/10449/thumbnail.jp
Concerning the Issuance of Loans by Irrigation Districts to Landowners for Certain Purposes
No full texthttps://scholar.law.colorado.edu/session-laws-2001-2050/10432/thumbnail.jp
Concerning Assets Exempted from Seizure in Certain Proceedings, and, in Connection Therewith, Expanding the Amount and Application of the Homestead Exemption to Include Personal Property That Is Actually Used as a Residence, Increasing the Scope and Amount of Assets That May Be Exempted, Adding Certain New Exemptions, Recreating and Increasing an Exemption for Money in Depository Accounts, and Removing a Requirement That a Person Must Deposit and Not Commingle Funds in Order to Render Child Support Payments or Unemployment Benefits Exempt from Levy to Pay a Debt
No full texthttps://scholar.law.colorado.edu/session-laws-2001-2050/10423/thumbnail.jp