Questions tagged [finance]
Questions involving fungible assets -- especially securities and loans (mortgages, debts, etc.).
12
votes
2answers
2k views
Student Loan from years ago pops up and is taking my salary
Summary: For decades I had my student loans paid by automated payment from my bank without a problem; just take it out of my bank and there's a small benefit in interest for it.
Recently, my ...
3
votes
2answers
63 views
Are companies allowed to trade securities based on internal user data?
Take a company like Google, that has access to real time information on what billions of people want at any given moment, their plans for the future - not to mention the entire email archives of ...
0
votes
1answer
38 views
Investor liability for investee actions?
The recent Supreme Court ruling in Jam v. International Finance Corporation kind of surprised me, as a layperson, since I had not imagined that banks were liable for their investees' actions ...
1
vote
1answer
82 views
Do you owe money to a company who is trying to charge a disabled/expired credit card?
A disposable credit card company from the US wrote 'recently' on their twitter
Canceling a subscription can be difficult, time consuming, and frustrating. Or it can be as easy as clicking a button ...
1
vote
1answer
108 views
Are marketplace lenders subject to fair lending laws?
Are 'marketplace' lenders, such as those using Lending Club or Funding Circle, etc., subject to fair lending provisions, such as the Equal Credit Opportunity Act or the Fair Lending provisions of the ...
4
votes
2answers
1k views
Bank is not depositing my promotion bonus
I opened a bank account in response to a promotion in a big bank (I'm in the US). Originally it was saying "if I keep my money (50K) for 60 days, I get $600". The agent at the branch didn't say ...
2
votes
3answers
51 views
Could leaking insider information eliminate insider trader concerns?
Suppose I possess some non-public information about Company X. I want to trade Company X's stock for reasons unrelated to the information (e.g. I believe the stock market as a whole is going to tank ...
3
votes
0answers
38 views
Is there a difference in “termination of employment” qualifying event trigger between group health insurance and 401(k)?
My job uses a Professional Employer Organization to handle payroll and benefits. This is a coemployment relationship, not temp/staffing, nor subcontract. The PEO is the issuer of my W-2 and listed ...
3
votes
1answer
41 views
Would there be any legal risk to informing bank that you have been given an account number your believe is compromised?
This question was asked on the financial stack exchange. The basic premise is that someone is giving another individual 'their' account number and telling the individual to take money out of it to ...
0
votes
0answers
17 views
What is the minimum required pre-provision net profit (PPNR)?
Is there a minimum required pre-provision net profit (PPNR) stated by Comprehensive Capital Analysis and Review (CCAR)? Or how else does the Fed evaluate stressed PPNR in its tests?
2
votes
1answer
95 views
Why is English law so important to finance?
What are the features of the English law that make it so indisposable to international finance and particularly offshore companies?
I've recently bumped into this passage when reading about Cyprus, ...
2
votes
1answer
80 views
Car Loan Company not providing pay statements
The relevant jurisdiction is Michigan. How often must a large loan company deliver statements of account? When a statement on an auto loan has not been received in some time (several months) and one ...
1
vote
1answer
27 views
Where can single-asset alternatives be marketed to retail investors? [closed]
I know that in most countries/markets alternative investments can be marketed and distributed to retail investors... but only through pooled investment vehicles, i.e. funds.
My question is then, ...
1
vote
1answer
173 views
For a politician, is a lunch outing with Warren Buffet considered a $650,000 gift?
There is a story in the news about Nikki Haley (now former US ambassador to the UN) taking trips in a friend's (and political supporter's) private jet.
See story: Watchdog wants investigation of ...
2
votes
2answers
110 views
Can a bank foreclose on a home of a person who has been kidnapped?
Say that an American homeowner is traveling overseas and then he/she is kidnapped by a terrorist organization.
Does the American bank which gave that person the home loan have the legal right to ...
0
votes
1answer
28 views
One Unit Trust with many classes of unitholders: is it possible?
If different assets are contributed to a Unit Trust, say one real estate property in San Francisco and one real estate property in Los Angeles, can the Deed of Trust specify 2 classes of beneficiaries/...
0
votes
2answers
38 views
Is it legal to charge a percentage service fee?
The example is ACME Company has a payment processing system that companies X, Y, and Z can use. It enables more features than just "payment" processing, and it enables more than just "credit card" ...
0
votes
1answer
38 views
What makes a stock exchange “private”?
I’m trying to understand the difference between a public and a private stock exchange, or any exchange for that matter.
I guess that I and another 10 people made an agreement and started trading some ...
0
votes
1answer
89 views
Is it illegal to purchase stocks with money that came from a Brinks truck?
There have been many times over the years when a Brinks truck has overturned, or the security guards forgot to lock the rear doors, and money came out of it while in route to its destination.
Say a ...
4
votes
1answer
75 views
Can I fight a charge from forgetting to cancel a subscription?
I just got charged a substantial fee for renewing some domains that are years old, (old enough that my card on file had expired, so I don't know how they even managed to charge it) that I had ...
3
votes
1answer
21 views
Is there a site that lists all EU members' Statutory Instruments for specific laws (like MLD4, UCITS etc.)
I'm new here and don't have a law background but my field (finance) often overlaps with legal aspects quite a bit.
I was hoping someone might be able to steer me in the direction of a good (free!) ...
2
votes
0answers
40 views
Familial exemption for investment advisor representative
My parents have asked me to trade for them and they offered me a fraction of any profit. My plan is to set up a limited trade agreement and then manage the account's trades.
Before doing so, I want ...
3
votes
0answers
10 views
Familial exemption for investment advisor [duplicate]
My parents have asked me to trade for them and they offered me a fraction of any profit. My plan is to set up a limited trade agreement and then manage the account's trades.
Before doing so, I want ...
5
votes
3answers
481 views
Why don't US prosecutors press for imprisonment for crime in the banking industry?
In this article by The Guardian published two days ago they report:
RBS bankers joked about destroying the US housing market after making millions by trading loans that staff described as "total ...
0
votes
2answers
33 views
Financial Debt Transaction question, Compliance/accounting laws
I am an IT Database person at our company. Our company does not have a financial transaction interactive program for business users, to log customer debt payments or debt increases. So they are ...
-1
votes
1answer
125 views
What legal entity(s) would be best for startup funded by kickstarter or other investment?
Assuming someone is going to start a business that is to design, build and manufacture a small electronic handheld device.
They post campaigns on Kickstarter, Indiegogo, and other crowd-funding ...
0
votes
2answers
96 views
'payable in like kind'? 'non-electing' shares?
each share of Series B Preferred Stock shall, by virtue of such
transaction and on the same terms as apply to the holders of Common
Stock, be converted into or exchanged for the aggregate amount ...
1
vote
1answer
59 views
interpretation of an article
The term "Common Stock" as used in this Appendix B means the Company's
Common Stock without par value, as the same exists at the date
of filing of the Amendment to the Company's Amended Articles ...
0
votes
1answer
33 views
Non-ERISA Fiduciary Responsibility for New York State
I would like to know ERISA equivalent for a government organization in New York State
https://www.asppa.org/Resources/Publications/Plan-Consultant-Online/PC-Mag-Article/ArticleID/5217
-1
votes
1answer
61 views
Were laws broken, can I use in civil or small claims?
Long story short my girlfriend of 5 years how to debit card to my savings account and every payday I would deposit $500 into the savings account for her to use and this went on for approximately the ...
0
votes
1answer
104 views
Are there countries that prohibit charging interest?
Is it true that Saudi Arabia prohibits charging interest? What about UAE? Are there any states actually prohibit interest rates?
10
votes
4answers
13k views
What can happen if the US President has violated campaign finance laws?
There has been recent news about President Donald Trump possibly breaking campaign finance laws due to a repayment made to one of his lawyers.
NPR: Trump Admits To Authorizing Stormy Daniels Payoff, ...
5
votes
1answer
64 views
In what order do collateral and guarantees pay off a defaulted loan or bond?
Company A is issued a loan that is guaranteed by Company B and is secured by liens on Company C's assets.
Company A defaults on its loan. In what order are the collateral and guarantees used to pay ...
1
vote
1answer
27 views
Does one need to be FCA authorised to charge interest on a loan to a friend?
The FCA guidance largely focuses around businesses intending to provide credit; there is little in the way of information on what the stance is when a friend-to-friend loan is made that involves ...
1
vote
1answer
68 views
Can a non-insurance company create a financial “float” like insurance companies do?
Insurance companies use "float" money taken in from premiums. Even though it is not their cash they invest it as long as when needed they can pay a customer claim. Could a non-insurance company that ...
3
votes
0answers
96 views
How liable is a seller that was unknowingly paid using stolen funds?
I sold some of my Bitcoins on LocalBitcoins UK to an account that appears now to have paid using stolen funds from a hacked bank account. I checked that the buyer was ID-verified with LocalBitcoins ...
0
votes
1answer
39 views
What happens if someone bounces a cheque in US?
From my knowledge, if A gives cheque to B and cheque bounces, then a warrant is issued against A.
Is the warrant issued anytime cheque bounces by default ?
Or B has to press charges against A for ...
1
vote
1answer
48 views
In US, what happens if you owe money to doctor and forget about it?
If I owe money to some family physician or a dentist, but because my phone number has changed I was not able to be contacted by them.
What does a doctor/dentist do if I owe them about $500 or so ?
Is ...
1
vote
1answer
44 views
Company wants to hold funds for customers
Are there any licensing or special bank account requirements for our company to hold funds for a customer and later deliver those funds back to the same customer? Similar to a savings account but for ...
2
votes
0answers
13 views
Is it legal (in Europe, Belgium) to publish prices from unaffiliated establishments?
Say I want to publish the pricelist from the store down the road, without their consent, on my own website. Is this legal? If not, what should I do to enable the publishing of other businesses prices?
-1
votes
1answer
140 views
Why are credit rating agencies in the US imune when giving false rating?
I need help understanding why does US legal system affords journalistic protection of free speech to credit rating agencies (CRA), especially those which rated mortgage backed securities (MBS) and ...
8
votes
2answers
175 views
Would it be illegal for Donald Trump to short twitter, then leave the platform?
Presumably if Trump were to stop tweeting and move to a different social media platform (e.g., Instagram), Twitter's value would decrease significantly (source estimating Trump's value to Twitter).
...
0
votes
2answers
141 views
Are universities legally allowed to adjust, or deny private loans?
I'm curious about my rights to my own private loan. (Co-signed by my brother) After getting my tuition and fees, I took out a loan to cover the remaining costs after aid.
I do live with my parents - ...
4
votes
1answer
811 views
Could the Intel CEO be accused of insider trading?
A few weeks back, the Intel CEO sold all the company shares he was allowed to. Yesterday, it was reported that a big security flaw existed in virtually all Intel processors sold in the last decade. ...
2
votes
1answer
37 views
Can student loans be used in retirement, brokerage, savings, checking, and 529 accounts?
I am aware of the purpose of Student Loans.
However if not immediately used, I park some of the money in a savings account.
But would it be legal to use the same funds in a retirement account (...
1
vote
3answers
119 views
Liability for spouse's actions in the US
This is hypothetical. Person A and Person B are married. Person A cannot control the actions of Person B, because that would be domineering. If Person B makes a mistake that results in financial ...
2
votes
3answers
136 views
Can a business impose a minimum amout for credit card payment without notice?
Recently, I visited a bar I regularly attend and purchased what I normally get, which has a pre-tip total of less than $10. When I went to pay the check with my credit card, I was told that there was ...
1
vote
2answers
84 views
Is it legal to promise to pay out money to uninformed third parties?
I'd like to set up a system that will allow me to accept a payment from a customer, say $10, and distribute a portion of that $10 evenly to a variable number of third parties. The problem is I'd like ...
-1
votes
2answers
54 views
What kind of lawyer should I seek to understand compliance requirements for processing credit cards?
I'm starting up a company that currently uses Stripe as a payment processor. However, their fees cut a huge chunk our of our margin and they don't offer the full functionality we need, specifically ...
1
vote
2answers
85 views
How is getting foreign investors to support your bank fraud? (Barclays)
I don't have any knowledge of UK financial laws but I don't really understand how getting foreign investors to buy stock in your bank constitutes fraud.
Now, of course, being a little cynical here, a ...
