The Wealth Effects Of Occ Preemption Announcements After The Passage Of The Georgia Fair Lending Act PDF Download

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The Wealth Effects of OCC Preemption Announcements After the Passage of the Georgia Fair Lending Act

The Wealth Effects of OCC Preemption Announcements After the Passage of the Georgia Fair Lending Act
Author: Gary Whalen
Publisher:
Total Pages: 56
Release: 2004
Genre: Bank loans
ISBN:

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"Rapid growth in subprime lending over the past decade has led to rising concerns about abusive practices by subprime lenders. By early 2004, those concerns prompted Georgia and more than 30 other states to pass laws designed to eliminate abusive or predatory lending practices by the financial services firms, including those with federal charters, operating within their boundaries. In 2003, the OCC concluded that federal law preempts the provisions of the Georgia Fair Lending Act (GFLA) that would otherwise affect national banks' real estate lending. In early 2004, the OCC adopted a final rule providing that state laws that regulate the terms of credit are preempted. The OCC has asserted that the growing number of state anti-predatory lending laws impose substantial compliance costs on banks, especially smaller, multistate banking organizations that must spread them over smaller levels of output. If these arguments are correct, preemption should reduce expected costs, increase expected revenue, and boost expected bank profitability, especially for smaller banking firms with multistate operations. Opponents of preemption have argued that material preemption benefits for national banks imply a significant competitive disadvantage for state banks and could induce enough state bank charter conversions to endanger the dual banking system.


The Wealth Effects of OCC Preemption Announcements After the Passage of the Georgia Fair Lending Act

The Wealth Effects of OCC Preemption Announcements After the Passage of the Georgia Fair Lending Act
Author: Gary Whalen
Publisher: CreateSpace
Total Pages: 44
Release: 2014-12-31
Genre:
ISBN: 9781505299892

Download The Wealth Effects of OCC Preemption Announcements After the Passage of the Georgia Fair Lending Act Book in PDF, ePub and Kindle

Rapid growth in subprime lending over the past decade has led to rising concerns about abusivepractices by subprime lenders. By early 2004, those concerns prompted Georgia and more than 30 other states to pass laws designed to eliminate abusive or predatory lending practices by the financial services firms, including those with federal charters, operating within their boundaries. In 2003, the OCC concluded that federal law preempts the provisions of the Georgia Fair Lending Act (GFLA) that would otherwise affect national banks' real estate lending. In early 2004, the OCC adopted a final rule providing that state laws that regulate the terms of credit are preempted.


The Wealth Effects of Preemption Announcements by the Office of the Comptroller of the Currency after the Passage of the Georgia Fair Lending Act

The Wealth Effects of Preemption Announcements by the Office of the Comptroller of the Currency after the Passage of the Georgia Fair Lending Act
Author: Gary Whalen
Publisher:
Total Pages: 44
Release: 2006
Genre:
ISBN:

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In 2004 the Office of the Comptroller of the Currency (OCC) concluded that federal law preempted anti-predatory lending statutes in Georgia and other states. The OCC asserted that preemption reduces compliance costs especially for smaller, multistate banking companies. Opponents countered that preemption disadvantages state banks endangering the dual banking system. Event study evidence is consistent with the OCC's assertion, but there is little support for the notion that preemption significantly disadvantages state bank-dominated companies. In fact, the excess returns of smaller state bank-dominated companies are generally positive and do not differ significantly from comparable national bank-dominated companies.


A Perfect Storm

A Perfect Storm
Author: New York (State). Temporary Commission of Investigation
Publisher:
Total Pages: 110
Release: 2008
Genre: Foreclosure
ISBN:

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Housing Policy Debate

Housing Policy Debate
Author:
Publisher:
Total Pages: 444
Release: 2010
Genre: Housing
ISBN:

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Regulatory Cycles: Revisiting the Political Economy of Financial Crises

Regulatory Cycles: Revisiting the Political Economy of Financial Crises
Author: Jihad Dagher
Publisher: International Monetary Fund
Total Pages: 89
Release: 2018-01-15
Genre: Business & Economics
ISBN: 1484337743

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Financial crises are traditionally analyzed as purely economic phenomena. The political economy of financial booms and busts remains both under-emphasized and limited to isolated episodes. This paper examines the political economy of financial policy during ten of the most infamous financial booms and busts since the 18th century, and presents consistent evidence of pro-cyclical regulatory policies by governments. Financial booms, and risk-taking during these episodes, were often amplified by political regulatory stimuli, credit subsidies, and an increasing light-touch approach to financial supervision. The regulatory backlash that ensues from financial crises can only be understood in the context of the deep political ramifications of these crises. Post-crisis regulations do not always survive the following boom. The interplay between politics and financial policy over these cycles deserves further attention. History suggests that politics can be the undoing of macro-prudential regulations.


A Framework for Assessing Effects of the Food System

A Framework for Assessing Effects of the Food System
Author: National Research Council
Publisher: National Academies Press
Total Pages: 340
Release: 2015-06-17
Genre: Medical
ISBN: 030930783X

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How we produce and consume food has a bigger impact on Americans' well-being than any other human activity. The food industry is the largest sector of our economy; food touches everything from our health to the environment, climate change, economic inequality, and the federal budget. From the earliest developments of agriculture, a major goal has been to attain sufficient foods that provide the energy and the nutrients needed for a healthy, active life. Over time, food production, processing, marketing, and consumption have evolved and become highly complex. The challenges of improving the food system in the 21st century will require systemic approaches that take full account of social, economic, ecological, and evolutionary factors. Policy or business interventions involving a segment of the food system often have consequences beyond the original issue the intervention was meant to address. A Framework for Assessing Effects of the Food System develops an analytical framework for assessing effects associated with the ways in which food is grown, processed, distributed, marketed, retailed, and consumed in the United States. The framework will allow users to recognize effects across the full food system, consider all domains and dimensions of effects, account for systems dynamics and complexities, and choose appropriate methods for analysis. This report provides example applications of the framework based on complex questions that are currently under debate: consumption of a healthy and safe diet, food security, animal welfare, and preserving the environment and its resources. A Framework for Assessing Effects of the Food System describes the U.S. food system and provides a brief history of its evolution into the current system. This report identifies some of the real and potential implications of the current system in terms of its health, environmental, and socioeconomic effects along with a sense for the complexities of the system, potential metrics, and some of the data needs that are required to assess the effects. The overview of the food system and the framework described in this report will be an essential resource for decision makers, researchers, and others to examine the possible impacts of alternative policies or agricultural or food processing practices.


Black Identities

Black Identities
Author: Mary C. WATERS
Publisher: Harvard University Press
Total Pages: 431
Release: 2009-06-30
Genre: Social Science
ISBN: 9780674044944

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The story of West Indian immigrants to the United States is generally considered to be a great success. Mary Waters, however, tells a very different story. She finds that the values that gain first-generation immigrants initial success--a willingness to work hard, a lack of attention to racism, a desire for education, an incentive to save--are undermined by the realities of life and race relations in the United States. Contrary to long-held beliefs, Waters finds, those who resist Americanization are most likely to succeed economically, especially in the second generation.


What Should Banks Do?

What Should Banks Do?
Author: Robert E. Litan
Publisher:
Total Pages: 232
Release: 1987
Genre: Business & Economics
ISBN:

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Describes changes in the financial services industry, discusses the advantages and risks of expanding bank powers, and suggests guidelines for balancing the benefits of competition and public service.