Bank regulation

When financial crisis in 2008 happened, I was only a middle school student and had no ideas what exactly happened and what caused it to happen. As I grow older, knowing I wanted to major in Business, I started to have interests in the crisis. I really wanted to truly understand the crisis, and someone recommended me to watch the movie, Too Big to Fail. I learned that housing bubbles were the main cause of the crisis, and the government tried everything to save multiples firms, including Fannie…

Debtor Beware: Debt Collectors Find Their Silver Bullet Clifford Cain Jr. discovered that a debt collection company had garnished his bank account and taken around $4500 to cover an old debt they said he owed. Cain said that he did not even know that he had been sued until he found out that the money was gone from his account. Midland Funding is part of Encore Capital Group, a gigantic debt collection agency. They did not just go after Cain, but many other residents of Baltimore with the…

that most of the financial crisis have a lot to do with unethical behavior. Starting from the politians that allow the big financial intuitions to play with the money of the consumer. One of the biggest problem during the 2008 crisis was that the banks were giving loan to basically anyone that had an income, but with a high interest rate causing these people to make impossible for them to keep up with the monthly payments. I always find interesting how the people with white collar jobs get to…

From 2008 through 2012, 481 FDIC insured banks were either liquidated or merged with healthier institutions. Credit Unions saw 136 involuntary liquidations or assisted mergers at the hands of the National Credit Union Share Insurance Fund. In 2009, Credit Unions saw their delinquency for mortgage loans peak at 1.61 percent compared to 8.86 percent at the banks. Many of the largest corporate credit unions in the United States invested in troubled mortgage-backed securities which resulted in…

As a working individual that pays taxes through payroll deductions, like many Americans that have a contribution towards the Medicare program. I have a right to know where funds go and how they are disbursed. The reason I chose this particular regulation because there was a similar case of an Optometrist submitted fraudulent claims to Medicare. Dr. Sponseller was sentenced to Federal Prison for 33 months for committing Medicare fraud. He willingly admits his partake in billing falsified claims…

Survey, 2014). Consumers often choose a company based on how they feel treated rather than the rates they might receive. Unethical decisions destroy the reputation of the company, as well as people feelings about it. Working as an intern at a local bank, it was clear that if a customer felt welcomed and appreciated than they were much more likely to do business even if they could make more or save more money at a different institution. Having a negative image and reputation can easily cause…

JP Morgan was a Captain of Industry. He helped the US shape itself for the future generations. He not only helped the future generations but he helped the present people of his time. Without him we would not be in the place we are today in our country. JP Morgan respected his workers and paid then pretty well for the time they were in. He paid his workers a little less than a dollar a day, but in this time that they were in that was not a terrible pay compared to others. He not only treated his…

The Australian Securities and Investments Commission (ASIC) v The Cash Store Pty Ltd (2015) was a major landmark case for consumer credit, with a huge recorded penalty ordered by the Federal Court. On the 19th February 2015 the court awarded penalties of $18.975 million against pay day lender, the Cash Store and loan funder Assistive Finance Australia for failing to comply with their responsible lending obligations under consumer lending law. It held contraventions to the National Consumer…

Bankruptcy is when you have no money or value at all. “In the United States, early federal bankruptcy laws were temporary responses to bad economic conditions. The first official bankruptcy law was in 1800 in response to land speculation, but it was repealed in 1803. Also in 1841, a second bankruptcy law was passed, but this law was quickly repealed in 1843.” Bankruptcy is important because when a debt is removed as part of a bankruptcy process, we would then say that the debt is dismissed. By…

purchase all the products and Glass Bottle the inability to sell in the open market, and fell to to make payments to their debt or make a profit from their expenses. It is clear that Glass Bottle will go under financing debt for taking out a loan from a bank. Only the International had the problem of going under leasing debt. The asset purchase agreement allows International to only be responsible for not buying all the bottles. Otherwise, plan B would work for both of them. If the auditor…