July 31 : July 29 : July 10 : June 16
July 31, 2003
The Financial Services Practice Group hosted a Predatory Lending
Conference on July 24th that featured remarks by Comptroller of
the Currency John D. Hawke, Jr. Please click below to read Mr. Hawke's
remarks and press coverage of his remarks.
Click to read Mr.
Hawke's remarks and an OCC press release.
Click to read an American
Banker article regarding Mr. Hawke's remarks.
- Peter Wallison, Resident Fellow at the American Enterprise Institute
and White House Counsel during the Reagan Administration provides
a cogent critique of the most sweeping securities reforms since
the Great Depression. Please click HERE
to read it.
July 29, 2003
- House Committee on Financial Services Releases Sarbanes-Oxley Report
House Financial Services Committee Chairman Michael G. Oxley (OH)
today released a report marking the one-year anniversary of enactment
of the Sarbanes-Oxley Act, which was signed by President Bush
on July 30, 2002. The report, which is a review of the implementation
and impact of the sweeping corporate accountability law, can be
viewed on the Committee's homepage by clicking HERE.
July 10, 2003
- In Citizens Bank v. Alafabco, Inc., 123 S. Ct. 2037 (2003), the Supreme Court of Alabama held that the Commerce Clause did not authorize Congress to regulate, through the Federal Arbitration Act (FAA), a commercial loan restructuring agreement between a bank and a construction company that were located in Alabama. When local counsel petitioned for certiorari with the Supreme Court of the United States, Balch & Bingham LLP filed an amicus brief on behalf of the Alabama Bankers Association in support of the petition, arguing that the Commerce Clause and the FAA applied to this intrastate transaction with minor interstate aspects. Amicus argued that while United States v. Lopez, 514 U.S. 549 (1995), and United States v. Morrison, 529 U.S. 598 (2000), restricted the application of the Commerce Clause to "economic" activities, these cases continued to allow Congress to regulate intrastate activities with interstate aspects that when aggregated with similar activities across the nation substantially affect interstate commerce. The Supreme Court in a unanimous per curiam decision granted certiorari and reversed the Alabama Supreme Court, concluding that Congress' commerce power continued to extend to economic activities with interstate aspects that in the aggregate substantially affect interstate commerce.
June 16, 2003