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This paper studies what determines whether federal and state supervisors examine state banks independently or together. The results suggest that supervisors coordinate examinations in order to support states with lower budgets and capabilities and more banks to supervise. I find that states with...
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Federalism-based clear statement rules require governments to use clear statutory language when they pursue initiatives … relation to two of the key federalism doctrines (the doctrine of interjurisdictional immunity and the doctrine of federal … paramountcy) by adopting a federalism-based clear statement rule. It makes this case in the context of a discussion of the Supreme …
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This is a case study of the Supreme Court's classic decision in Smith v. K.C. Title & Trust Co. A stockholder challenged the constitutionality of the Farm Loan Act of 1916, which authorized federal banks to issue tax-exempt bonds to raise funds for loans to farmers. The case is best known for...
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Congress and federal financial regulators have long prioritized the safety and soundness of banking firms. But at the same time, the directors and officers of banking firms are legally bound to prioritize shareholder wealth maximization, which creates incentives for risk-taking that work against...
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Although marijuana is illegal under federal law, twenty-three states have legalized some marijuana use. The state-legal marijuana industry is flourishing, but marijuana-related businesses report difficulty accessing banking services. Because financial institutions will not allow...
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