Questions tagged [finance]

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

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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 ...
11
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3answers
15k 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, ...
11
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2answers
6k views

Why is PayPal blocking my account according to U.S. tax law, if I've a UK account only?

I've opened PayPal account for my business and in My Profile I've clearly selected the UK address. My phone is UK, my bank accounts are UK and the balance is shown in GBP. So this is very clear to ...
11
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2answers
403 views

Can Trump legally sell stocks on Friday, tweet about imposing tariffs on Sunday and then buy more of the stocks back on Monday?

Trump could have made a lot of money by selling stocks before tweeting about imposing tariffs on China and then buying more of them back when the price of the stocks has dropped. Would this fall under ...
11
votes
3answers
6k 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 ...
9
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2answers
1k views

What was wrong with the 2010 Flash Crash?

While looking for recent market crashes, I came upon 2010 Flash Crash. However, I am unable to understand what wrong the alleged perpetrator, Navinder Singh Sarao, did. Entering an "order to sell ...
9
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2answers
216 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). ...
9
votes
1answer
821 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 ...
8
votes
1answer
16k views

Employer Won't Release 401k

A client of mine came today with a scenario that I had never seen. She had worked for a company for three years, held about $60K in a 401K, but four months after being laid off she hasn't been able ...
8
votes
2answers
2k views

What are the legal consequences of disputing a legal credit card transaction?

Purely hypothetical question. Recently I rented a car from a company, let's call them Thrifty, the total cost for the trip was ~$150. Days later I got a bill for ~$70 in administrative charges for ...
6
votes
2answers
602 views

Why is a company allowed to change the number of shares it’s divided into after its IPO?

I read that even after an IPO, a company can change the number of shares that it’s divided into based on a board vote. What’s to prevent them from arbitrarily increasing the number of shares to raise ...
6
votes
3answers
910 views

How are employer pay statutes enforced against offending employers?

An employer recently made some strange demands as a part of a job offer. On advice from The Workplace Stack Exchange I'm going to look for work somewhere else, but I'm concerned the employer is ...
6
votes
1answer
97 views

How do laws affecting racial and gender justice programs work?

Recent COVID19 relief packages in the United States include racial justice measures, such as additional funds without repayment for farmers on the basis of race. Although the COVID19 relief itself ...
5
votes
3answers
736 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 ...
5
votes
2answers
9k views

Someone withdrew money from my bank account - what are my rights?

Someone withdrew money from my checking account (in several transactions) without my knowledge or permission. I was able to see the withdrawal slips online, and my signature was forged. I reported ...
5
votes
1answer
103 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 ...
5
votes
1answer
937 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. ...
5
votes
2answers
208 views

Delivery of oil bought through futures contracts

What happens if someone is forced to take physical possession of many barrels of oil that they bought on the open market, but they have no storage space left to put it? ETA: In jeffronicus answer ...
4
votes
2answers
1k views

Can US student loans be inherited by children or parents?

Just curious if there are conditions where student loans can be inherited by family members that did not co-sign on the loan?
4
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1answer
2k views

Executive order by Trump on 2020-11-12 barring investment in publicly traded companies that the US says are owned/controlled by the Chinese military

I read on finance.yahoo.com (mirror): The move stems from an executive order President Donald Trump issued on Nov. 12 barring investment in publicly traded companies that the U.S. government says are ...
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 ...
4
votes
1answer
253 views

Can a bank keep cleared funds against your explicit instructions?

Does any legislation exist which permits or requires a bank to hold on to cleared funds against the explicit wishes of the account holder? Background I recently transferred my home loan to a new ...
4
votes
2answers
232 views

If a malicious website steals my credit card info, what happens?

Let's say I submit my credit card information to a website to purchase something. They give me a message saying the item will be delivered soon, and I don't notice anything wrong. Later I find out ...
4
votes
4answers
427 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: ...
4
votes
1answer
132 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 ...
4
votes
1answer
233 views

When does a mortgage rate bait and switch become fraud?

I'm currently in the process of buying a house. Once the price was negotiated and agreed upon, I solicited quotes from various mortgage brokers. One offered a lower rate than the others, so we picked ...
4
votes
1answer
610 views

Does my company need an escrow license if we are a marketplace website?

We have a marketplace website that allows buyers to purchase content from sellers. We then pay out the seller's balance after 30 days. Our payment processor is requiring us to have an escrow license ...
4
votes
1answer
123 views

Does the “general public” include business entities?

Specifically regarding securities laws in the United States, there is often terminology that says: ... must not be marketed to the general public... The definition of "marketed" I understand and ...
4
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0answers
171 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 ...
3
votes
2answers
347 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 ...
3
votes
3answers
3k 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 ...
3
votes
3answers
217 views

Is the historic behavior occurring on Reddit (millions of people promoting the buying and holding of GameStop stock) illegal?

I've been a member of the subreddit r/wallstreetbets for some time now, it's this hilarious cult-like community that jokes about investment gains / losses and people celebrate making / losing money on ...
3
votes
1answer
299 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 ...
3
votes
3answers
401 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 ...
3
votes
3answers
464 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
1answer
307 views

Could Trump bet on winning the presidential election?

This question came up during a discussion with some friends after I placed a bet on a certain candidate (let's call him T) winning an upcoming presidential election in a Western country, call it USA. ...
3
votes
1answer
310 views

Is it illegal for Donald Trump to lie on his Financial Disclosures?

It is a very simple question, prompted by an assertion from a debate where one has claimed that he has lied on his financial disclosures, and that he is legally able to do this because: It is not ...
3
votes
2answers
121 views

How was the $200,000 minimum income for accredited investors decided?

The SEC has a rule that restricts the definition of an accredited investor to a person who has income in excess of $200,000. (6) Any natural person who had an individual income in excess of $200,...
3
votes
1answer
25 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!) ...
3
votes
1answer
75 views

How does discovery work for financial crimes?

There is a case in the news at the moment about the post office securing 736 convictions for false accounting and theft that later some were overturned on the basis of an accounting error made by an ...
3
votes
2answers
245 views

If I discover information about a company through personal investigation can I act on it without being guilty of insider trading?

Let's say I'm a skilled PI who has, through detailed investigation followed a paper trail back and discovered that Soylent Green is people! (err..spoiler warning?) I am now aware of information that ...
3
votes
3answers
143 views

Insider Trading

In Australia there are two major grocery companies, Woolworths and Coles. Now suppose I work for Woolworths and I become aware of a technological breakthrough that will dramatically increase the ...
3
votes
1answer
44 views

Options buying and selling on collectibles

Could I legally create a website that allows for the purchase of options on collectibles – baseball cards, for example? Let's assume it's on a collectible that fluctuates in value rather than ...
3
votes
1answer
70 views

Harper v. IRS and the third-party doctrine

On tax day 2020, plaintiff James Harper accused the IRS of obtaining his cryptocurrency transaction history from Coinbase without a warrant. Harper is claiming the IRS violated his rights under the ...
3
votes
1answer
747 views

Under what circumstances can a debt lien on real property be satisfied by foreclosure?

Under what circumstances can a debt lien on real property be satisfied by foreclosure? For example, let's imagine a debtor fails to pay a debt, say a car loan on a vehicle that is now missing or ...
3
votes
0answers
49 views

Must French financial institutions know by law the salary of their customers?

Must French financial institutions know by law the salary of their customers? One of my French banks is asking this information from me and claims they have to do so by law (and I have "declare sur l'...
3
votes
0answers
11 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 ...
3
votes
0answers
57 views

How to stop pyramid MLM in India

Pyramid MLM in illegal in India. Where source of income is from recruiting downline and the joining fees. I had seen a lot of such companies workings. Some of them are registered with MCA and have a ...
3
votes
0answers
58 views

Can I resell diesel to a trucking company's fleet during a price hike?

Say I have a container of diesel which I purchased at a low rate and got a discount for a bulk purchase. Can I resell it to a trucking company's fleet of truckers at a competitive rate in a high-price ...
3
votes
0answers
30 views

Specific law/regulation about annual report and other shareholder information disclosure in Canada

As I understand it, when you hold shares of a publicly traded company (or ETF) via a broker, the broker is obligated to forward you the relevant investor information from the company (e.g. annual ...