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Competitors' club

Money | A scandal involving an online lender jeopardizes an important new industry
by David Skeel
Posted 6/10/16, 01:00 am

These aren’t the best of days for the online lending industry. Renaud Laplanche, the founder of industry leader Lending Club, resigned as CEO in May after news surfaced that Lending Club had misrepresented its lending practices. The next day, the U.S. Treasury Department released a report calling for greater scrutiny of the rapidly growing industry.

Before barging in with new restrictions, regulators should take a deep breath and count to 10.

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Wrangled rule-makers

Money | Courts finally begin to rein in financial regulators
by David Skeel
Posted 5/13/16, 01:00 am

For the past six years, Washington bureaucrats have been rolling out tens of thousands of pages of new regulations implementing the 2010 financial reforms known as the Dodd-Frank Act. By one estimate, their handiwork had inflicted $24 billion in costs on American businesses as of last summer.

But the first hints are emerging that enough is finally enough. In recent weeks, several federal courts have chastised regulators for trying to grab even more power than the Dodd-Frank Act gave them.

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Bailout prevention

Money | Oversight and debt restructuring could be Puerto Rico’s likeliest chance for lasting reform
by David Skeel
Posted 4/15/16, 01:00 am

The clock is about to strike midnight for Puerto Rico. With payments of $422 million in debt due in May and $2 billion in July, Puerto Rico has run out of ways to postpone its looming default (see “Puerto Rico panic,” Dec. 26, 2015).

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