Questions tagged [finance]

Questions involving fungible assets -- especially securities and loans (mortgages, debts, etc.).

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25 views

Building an ebay type app, what kind of financial liability should I expect?

I’m looking into building a eBay-like store on top of my application where suppliers can post their products and buyers would make the purchase directly on the app. We would collect a commission and ...
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15 views

What happens if I don’t not receive a copy of my auto loan documents? Is that a violation of TILA? Do I have grounds for a lawsuit?

I recently purchased a vehicle and after signing all of the paperwork, the finance manager said that I would receive all of my loan documents in the mail the following month. Almost two months have ...
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2answers
41 views

How do I write an agreement between a token issuer and token bearer?

I'm making a decetralized blockchain app that lets users create tokens and sell them to other users with the agreement that the issuer will repurchase the tokens at the bearers demand. So its pretty ...
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141 views

Can I legally guess my customer's new credit card expiry date?

As a merchant, I offer online subscription services to my customers. Often, my customer's credit card will expire, despite having an active subscription service to my product. Is it legal for me to ...
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3answers
260 views

Can a couple be charged for spending $120,000 deposited to their bank account in error?

A couple is being charged for spending $120,000 which was deposited to their account in error. This is in Pennsylvania, USA. The facts are presented as follows: One day, couple wakes up to $120,000 ...
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3answers
670 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 ...
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1answer
36 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/...
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1answer
97 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 ...
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74 views

Is internet tracking “public info” for insider trading purposes?

Suppose I own a search engine. I look at my server logs and see that the query "how to fix exploding engine" is very popular in the area around Tesla headquarters. Would it be legal to act on this ...
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1answer
45 views

What does upon conversion mean?

What does it mean when an investor say "I will give you $100k in exchange for 10% equity upon conversion"? What does upon conversion exactly mean in layman's terms?
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1answer
49 views

Would using a StableCoin bypass the “Money Transmitter” laws in the US?

I'm considering a startup that allows news/content creators to collect nano-payments (~$0.01) for their content. Since transactions of that size are unreasonable to charge individually by Stripe/etc, ...
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3answers
4k views

Is it a crime to take out a loan with no intention to repay?

This question on Money.SE concerned a person who had taken out a number of loans. He didn't intend to repay these loans in full, planning instead to default and leave the country. Several posters on ...
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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, ...
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1answer
31 views

Definition of privileged information in investor law

Person X makes a scientific discovery about some new metallic alloy. She then reasons that as a result of its applications, the market for some other metal will drop. Is she allowed to short the ...
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1answer
51 views

Is a monthly Patreon donation\subscription, a contractual obligation to pay someone?

Let's say I have a prepaid card with a balance of 0$ and I am subscribed to a Patreon user for the recurring monthly donation of $50. Let's say I remain subscribed to the Patreon user for 10 months, ...
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4answers
187 views

Schwab 401k 'hacked'; somehow they added/linked an unknown bank account and transfered out ~10% of my balance!! How

I recently received a couple of 'notification' emails from Schwab re. the approval/completion of various changes I supposedly requested to an old 'inactive' (past employer) 401k account, including: ...
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1answer
69 views

How is a US political campaign supposed to verify that donors from abroad are US citizens?

According the US laws, only US citizens may contribute financially to political campaigns - especially presidential campaigns. Suppose you are running a campaign. How are you supposed to verify that ...
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1answer
55 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
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136 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 ...
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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 ...
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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 ...
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2answers
71 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 ...
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1answer
40 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 ...
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1answer
342 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 ...
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1answer
99 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 ...
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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 ...
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0answers
53 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 ...
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3answers
106 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 ...
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3answers
2k views

Do I have any options if Chase has closed my account citing payment from fraudulent sources?

A few weeks ago I received a $125 Chase QuickPay from someone on the site localbitcoins.com. Turns out the payment was marked fraudulent, and my account was frozen, whether it was because the user was ...
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1answer
49 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 ...
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25 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?
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1answer
100 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, ...
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1answer
90 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 ...
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1answer
180 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 ...
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1answer
658 views

How does insider trading law affect bitcoin exchanges?

The Bitcoin network is predicated on the premise that it is difficult to find 'low' hash values for a given input. This is an incredibly safe bet because of the way the algorithm is implemented - if ...
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2answers
53 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" ...
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1answer
28 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, ...
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2answers
121 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 ...
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1answer
39 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 ...
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1answer
96 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 ...
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1answer
22 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!) ...
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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 ...
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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 ...
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2answers
39 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 ...
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1answer
88 views

Can I use a PCI-DSS compliant image because our payment gateway provider is complaint?

Our company is not compliant with the Payment Card Industry Data Security Standard (PCI-DSS). But all our payments are only handled by one payment gateway provider who is PCI-DSS compliant. Am I ...
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1answer
285 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 ...
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1answer
67 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 ...
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1answer
119 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?
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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 (...
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3answers
401 views

What consequences can a legal non-citizen 14 year old face if he applies for a credit card using someone else's SSN without permission?

I did this when I was 12, and I didn't know what this all was. My 12-year old mind was still working like a 6 year old. One day a letter came to my house saying you are not eligible or something, I ...