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May 1, 2019Michael J. Scott
Consumer Collections
According the Federal Reserve, there are 59.5 Billion debit or credit card swipes a year in the United States. That boils down to 165 million swipes/day; approximately 15% of which occur in Texas (25 million/day; 1.8 million/hour; 30,000/minute; 500/second). That’s a lot of plastic, and much of this article will be geared to the type of consumer debt that is created in the retail debt arena. However, “any obligation or alleged obligation of a consumer to pay money arising out of a transaction in which the money, property, insurance or services which are the subject of the transaction are primarily for personal, family, or household purposes” is likely a consumer debt.
March 1, 2013Joel Androphy, Ashley Gargour
The Intersection of the Dodd-Frank Act and the Foreign Corrupt Practices Act: What All Practitioners, Whistleblowers, Defendants, and Corporations Need to Know
With the enactment of the Dodd-Frank Wall Street Reform and Consumer ProtectionAct (Dodd-Frank Act),1 government authorities are no longer the only ones with a monetaryinterest in ferreting out those who violate federal laws. Specifically, section 922 of the DoddFrank Act provides a whistleblower program that rewards individuals who assist the Securitiesand Exchange Commission (SEC) in uncovering securities violations, including ForeignCorrupt Practices Act (FCPA) violations. Because the Dodd-Frank Act allows individualwhistleblowers to reap significant benefits by reporting offenders and because the SEC andDepartment of Justice (DOJ) have increased FCPA prosecutions in recent years, globalcompanies and their employees, especially those in the pharmaceutical and medical deviceindustry, should understand how the Dodd-Frank Act and the FCPA intersect.
November 7, 2014Jeff Nichols, Kim Mai
The Regulation of Swaps and Derivatives and It's impact on Business after Dodd-Frank
The Dodd-Frank Wall Street Reform Act (the “Dodd Act”) is the most significant financial legislation since the Depression-era reforms 75 years ago. It was signed into law on July 21, 2010 and is 2,300 pages long. Despite its length, it is more like a set of guidelines than a specific law, with a directive to regulators to craft regulations to take control of a vast and complicated financial system.
November 8, 2013Jeff Nichols, Kim Mai
The Regulation of Swaps and Derivatives and Its Impact on Business After Dodd-Frank
The Dodd-Frank Wall Street Reform Act (the “Dodd Act”) is the most significant financial legislation since the Depression-era reforms 75 years ago. It was signed into law on July 21, 2010 and is 2,300 pages long. Despite its length, it is a more like a set of guidelines than a specific law, with a directive to regulators to craft regulations to take control of a vast and complicated financial system. The law itself required regulators to draft and finalize these regulations within one year. It did not happen that way. As of the third anniversary of the Dodd Act, according to one law firm’s estimates, even though 13,789 pages of rules containing 15 million words have been written by ten different regulators, the process is only 39% complete. At this pace it would take several more years to complete. For a large number of businesses, one segment of the law affects them the most: the regulation of swaps that they use to hedge against price swings for things like commodities or interest rates. These businesses have become known as “end users” because they are at the end of the market and because they use swaps to reduce risk arising out of their commercial enterprise. In dollar terms, the end users are a small part of the overall market, less than 10%. But the number of end users is large. The U.S. Commodities Futures Trading Commission (“CFTC”) estimates that 125 entities will fit under the swap dealer (“SD”) definition, which is down from its estimate of 300 last year, while the number of end users may be greater than 100,000. This paper will focus on the end users and the major issues they are facing currently under the Dodd Act.
December 31, 1969Newsletter Committee
Summer, 2014
Includes articles entitled: "Texas Supreme Court’s Recent Shareholder Oppression Opinions Reaffirm Primacy Of Common Law Fiduciary Duties" by Byron Egan and Michael L. Laussade; "Texas Pattern Jury Charge on Trade Secret Misappropriation Near Completion" by Joe Cleveland; and "CFPB Targets Law Firm with First Civil Enforcement Action" by Justin M. Long and John Podvin.
December 31, 1969Newsletter Committee
Spring, 2013
This issue includes articles entitled: "Legislation Update on Article 4A Amendment" by Roger Bartlett; "Potential Impact of the Canning Decision on CFPB Rules" by Cheryl Crandall Tangen; and "Legal Opinions Committee Update: Dodd-Frank and Swap Guarantees by and Joint and Several Liability Provisions for Entities that are not Eligible Contract Participants" by Steve Tarry.
December 31, 1969Newsletter Committee
Summer, 2014
Includes articles entitled: "Texas Supreme Court’s Recent Shareholder Oppression Opinions Reaffirm Primacy Of Common Law Fiduciary Duties" by Byron Egan and Michael L. Laussade; "Texas Pattern Jury Charge on Trade Secret Misappropriation Near Completion" by Joe Cleveland; and "CFPB Targets Law Firm with First Civil Enforcement Action" by Justin M. Long and John Podvin.
December 31, 1969Newsletter Committee
Spring, 2013
This issue includes articles entitled: "Legislation Update on Article 4A Amendment" by Roger Bartlett; "Potential Impact of the Canning Decision on CFPB Rules" by Cheryl Crandall Tangen; and "Legal Opinions Committee Update: Dodd-Frank and Swap Guarantees by and Joint and Several Liability Provisions for Entities that are not Eligible Contract Participants" by Steve Tarry.