Congressional Democrats and Republicans can at least agree on one thing: More protectionism, please

In the age of Trump, few issues, much less pieces of legislation, garner support from both sides of the aisle. Two commentators recently asserted that intense polarization has even “alter[ed] the zone of acceptable political behavior.” Regardless of its content, therefore, the recently introduced Foreign Investment Risk Review Modernization Act (FIRRMA) should be hailed as a political marvel. FIRRMA has received wide bipartisan support, including endorsements from Senators John Cornyn (R-TX), Marco Rubio (R-FL), Dianne Feinstein (D-CA), and Joe Manchin (D-WV), […] (More →)

My Way Till Payday: Mulvaney’s New CFPB

Following the Financial Crisis, Congress took what was considered strong action at the time by enacting the Dodd–Frank Wall Street Reform and Consumer Protection Act (Pub.L. 111-203, H.R. 4173). Part of this legislation created the Consumer Financial Protection Bureau, an agency that has caused controversy across Washington for a number of reasons. The agency is tasked with promulgating regulations with the goal of protecting consumers from what it deems to be abusive financial instruments. It is also able to investigate […] (More →)

Representation of Financial Condition: Does the Sum Equal Its Parts?

On December 19, 2017, the Court of Appeals for the Fifth Circuit held that the debt of a bankrupt Texas businessman would be forgiven, even though he provided misleading oral statement about his company’s financial health.[1] Under §523(a)(2)(A), debt that was obtained through false pretense or fraud cannot be discharged through a bankruptcy proceeding, except if the representation had been an oral “statement respecting the debtor or an insider’s financial information.”[2] This decision revisited the disagreement between Court of Appeals […] (More →)

A Most Favored Class: Corporate Exemption from the Alien Tort Statute

Introduction The arguments surrounding the Alien Tort Statute (ATS), and the scope of its international jurisdictional grant of American authority, ask the courts to resolve fundamental questions about America’s role in international justice. An expansive reading of the ATS would ask America courts to adjudicate human rights abuses across the world, regardless of their connection to the Unites States. Conversely, the federal courts can, and have, narrowed the statute’s scope to only include a very narrow subset of cases. The […] (More →)

To Save a Life: Sales Made in Extreme Political Situations

Earlier this month, Judge Loretta Preska of the Southern District of New York dismissed the case of Zuckerman v. Metropolitan Museum of Art.[1] Laurel Zuckerman, the great-grandniece of Paul Leffman, brought the case, seeking the return by the Metropolitan Museum of Art of a Pablo Picasso masterpiece, “The Actor.”[2] Zuckerman alleged that her great-granduncle, a German Jewish businessman, was forced to sell the painting at an unreasonably low amount to fund an escape from Nazi-ruled Germany and fascist-controlled Italy.[3] Leffman […] (More →)

How the NCAA has Created Criminality

On September 29th, 2017, the sports world was shocked by the arrests of several basketball coaches at high-profile universities in connection with a scheme of fraud and bribery. James Gatto, a global marketing director for Adidas, designed the game plan: pay coaches and families to convince high school players to choose Adidas-sponsored universities and then sign with sports agents who would continue the players’ relationships with Adidas through their professional career. All of these payments were conducted in violation of […] (More →)

Objectives for Regulatory Reform at the Federal Reserve

Introduction The election of Donald Trump brought renewed focus on the bank regulatory regime. Congressional efforts to rewrite financial regulation by passing the Financial CHOICE Act have stalled. However, regulatory agencies retain the power to advance a deregulatory agenda through new rules and guidance. While one may be cautions to peel back the hard fought reforms implemented after the 2008 crisis, there is room for a review of regulatory efficacy. By way of example, on December 21st, 2017, the Federal […] (More →)

The Petrobras Settlement: Critical Implications for Foreign Issuers and Securities Class

In early January 2018, Petroleo Brasilieiro SA (“Petrobras”), the Brazilian state-run oil company agreed to partially settle a class action lawsuit brought by purchasers of its debt and U.S. listed equity securities between January 2015 and July 2015 for $2.95 billion.  Should the district court judge approve the terms of the agreement, it would rank as the 5th largest securities class action settlement in U.S. history and the largest settlement ever paid by a foreign entity in the U.S. The […] (More →)

The U.S. Withdraws from the Extractive Industries Transparency Initiative (EITI). What’s Next?

On March 19, 2014, the United States became the first G8 country to join the Extractive Industries Transparency Initiative (EITI). On November 2, 2017, the United States withdrew from the EITI. In the letter from the Director of the U.S. Office for Natural Resource Revenue to the EITI Board of Directors, the Director stated the withdrawal would be effective immediately. The EITI issued a statement shortly after receiving the letter saying, “[t]his is a disappointing, backwards step. … It’s important […] (More →)

Antitrust in the Sharing Economy

In August, the Second Circuit reversed a district court denial to compel arbitration in a putative class action lawsuit between the ridesharing company, Uber, and an Uber driver, Stephen Meyer. The court decided that Uber provided reasonably conspicuous notice of its arbitration clause and that Meyer manifested assent to its terms. The case was nonetheless remanded so that the district court can decide whether Uber waived its right to arbitration by engaging in the litigation. Meyer alleges that Uber’s former […] (More →)

About CBLR

Columbia Business Law Review is the first legal periodical at a national law school to be devoted solely to the publication of articles focusing on the interaction of the legal profession and the business community. The review publishes three issues yearly, which involve students in the editing of leading articles in business law, as well as the production of student-written notes.