In 1970, Congress passed the Bank Secrecy Act largely in an effort to prevent United States citizens from using foreign bank accounts to avoid paying taxes. Since then, the core record keeping and reporting rationale has expanded dramatically and is now widely touted as a critical tool in...

In an effort to stem perceived abuses of the bankruptcy system, Congress adopted a rule in 1976 that created a time-based conditional limitation on the discharge of federally guaranteed student loans in bankruptcy. The only means of overcoming the limitation was the showing of an “undue...

Perhaps one of the most contentious issues in the United States is the ownership of personal firearms, with sharp divides between those who view access to firearms as a fundamental right, and those who view the ownership of personal firearms as an anachronism that has no place in modern society....

In an effort to increase the availability of small business start-up capital, Congress recently created a new type of exempt offering under the Securities Act of 1933, colloquially referred to as “Crowdfunding.” Touting this new equity scheme as a rational modernization of capital formation,...