Title VIII provides a new framework for assessing the systemic risk associated with financial institutions and financial market utilities involved in clearing activities for financial transactions. The Title grants authority to...
law and economics
Dodd-Frank: Title X - Bureau of Consumer Financial Protection
Introduction
Title X of the Dodd-Frank Act (aka: Consumer Financial Protection Act of 2010), created the Consumer Financial Protection Bureau (CFPB or Bureau) as an independent agency within the Board of Governors of the Federal Reserve...
Dodd-Frank: Title XI - Federal Reserve System Provisions
Introduction
Title XI addresses changes to the Federal Reserve System. First, the Title allows greater supervision of the Federal Reserve’s operations by allowing the Comptroller General of the United States (the Comptroller) to audit the...
Dodd-Frank: Title XII - Improving Access to Mainstream Financial Institutions
Introduction
Title XII authorizes the Secretary of the United States Department of the Treasury to create multi-year grant programs designed to encourage Title XII’s targeted group, low-to-moderate income individuals, to utilize mainstream...
Dodd-Frank: Title XIII - Pay It Back Act
Introduction
Title XIII, commonly known as the “Pay It Back Act” (the Act), amends the Emergency Economic Stabilization Act of 2008 (EESA) by decreasing the Secretary of the Treasury’s (the Secretary) authority to purchase distressed assets...
Dodd-Frank: Title XIV - Mortgage Reform and Anti-Predatory Lending Act
Purpose
The 2008 economic crisis was triggered in part by the real estate bubble bursting. Mortgages became extremely easy to obtain, and many of those mortgages had predatory provisions that made it difficult for borrowers to pay off the...
Dodd-Frank: Title XV - Miscellaneous Provisions
Introduction
Title XV contains seven miscellaneous provisions. Title XV restricts the ability of the United States’ Executive Director at the International Monetary Fund to approve loans to foreign countries that are unlikely to be repaid in...
domestic corporation
A domestic corporation is a corporation that does business in the jurisdiction in which it is incorporated. This can be compared to a Foreign Corporation which conducts business in a jurisdiction other than its place of incorporation. The...
draw
To draw is to produce, create, or make any picture or line. Some common usage of the term “draw” in a legal sense include:
The withdrawal of money from a bank account, such as through presenting a check. To receive money in advance,...economic duress
In contract law, economic duress also called business compulsion, refers to one party’s improper or illegal conduct that causes the other party’s fear of economic hardship and the fear prevents the party from engaging in a commercial...