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Legal News
22 Jul 2015
by Colleen Mallick

[JURIST] US regulators on Tuesday ordered [text, PDF] Citigroup [corporate website] to refund $700 million to nine million credit card customers, along with a $70 million fine for illegal and deceptive practices.The Consumer Financial Protection Bureau (CFPB) [agency website] ordered the bank and its subsidiaries to refund its customers [CFPB … [read more]


Legal News
26 Jul 2014
by Kimberly Bennett

[JURIST] The US House of Representatives [official website] on Friday passed [bill status summary] a bill [text, PDF] that would make it legal for individuals to open the digital locks on their cellphones. The process, known as unlocking or jailbreaking, is currently illegal [text, PDF], punishable by fines of up … [read more]


Professional Commentary
2 Jul 2014
by Akshat Tewary of Law Offices of Kamlesh Tewary

JURIST Guest Columnist Akshat Tewary of the Law Offices of Kamlesh Tewary discusses Judicial Independence and Agency Accountability in reference to SEC v. Citigroup... The US Court of Appeals for the Second Circuit recently issued a ruling that could debilitate the ability of the judiciary to serve as an independent … [read more]


Legal News
9 Apr 2014
by Daniel Mullen

[JURIST] The Consumer Financial Protection Bureau (CFPB) [official website] on Wednesday ordered [text, PDF] Bank of America [corporate website] to pay $727 million for its illegal credit card practices. The CFPB asserts that Bank of America used deceptive marketing and unfair billing practices [CFPB press release] in violation of the … [read more]


Legal News
21 Mar 2014
by Amy Mathieu

[JURIST] The US Court of Appeals for the District of Columbia Circuit [official website] on Friday overturned [text, PDF] a lower court that struck down the Federal Reserve's cap on how much banks are permitted to charge businesses for debit card transactions. The lawsuit was initiated by a coalition of … [read more]


Legal News
4 Dec 2013
by Sung Un Kim

[JURIST] The European Commission (EC) [official website] on Wednesday fined [press release] eight international financial institutions €1.7 billion for having engaged in illegal cartels. They were all involved in cartels relating to interest rate derivatives. Some participated in a cartel that was denominated in euro currency while some participated in … [read more]


Legal News
2 Aug 2013
by Julie Deisher-Edwards

[JURIST] A judge for the US District Court for the District of Columbia [official website] on Wednesday struck down [opinion, PDF] Regulation II (Debit Card Interchange Fees and Routing) [text, PDF] of the Federal Reserve [official website], which held that the maximum interchange fee a bank can receive from a … [read more]


Academic Commentary
10 Jun 2013

JURIST Guest Columnist Ruthann Robson of the CUNY School of Law argues that requiring manufacturers to label clothing as "sweat-free" is feasible under the First Amendment...Buying a shirt is an ethically fraught endeavor. This is nothing new: the production of clothes has long been interwoven with slavery, indentured servitude, "wage … [read more]


Professional Commentary
11 Jan 2013

JURIST Guest Columnist Louise Bennetts of the Cato Institute gives a critique of Dodd-Frank and argues that recent regulatory trends are incompatible with a rule-based system...It seems that "rules-based" is the new DC buzz phrase. There is little disagreement that a "rules-based" approach to financial regulation generates better outcomes than … [read more]


Student Commentary
29 Oct 2012

JURIST Guest Columnist Anthony Constantine, St. John's University School of Law Class of 2013, is the author of the ninth article in a 15-part series from the staffers of the Journal of Civil Rights and Economic Development. His article offers insight as to how the US government should define significant … [read more]


Legal News
29 Sep 2012
by Jaimie Cremeans

[JURIST] A judge for the US District Court of the District of Columbia [official website] on Friday remanded [opinion, PDF] a rule [text] that would have limited positions on derivatives for 28 commodities, saying that the US Commodity Futures Trading Commission (CFTC) [official website] must resolve ambiguities to determine if … [read more]


Legal News
3 Apr 2012
by Hillary Stemple

[JURIST] The US Commodity Futures Trading Commission (CFTC) [official website] on Monday filed charges [complaint, PDF; press release] in the US District Court for the Southern District of New York against the Royal Bank of Canada (RBC) [corporate website] alleging that the bank was involved in an illegal futures trading … [read more]


Academic Commentary
9 Mar 2012

JURIST Guest Columnist Mark Loewenstein of the University of Colorado Law School says that while the SEC clearly has the authority to require reporting companies to disclose information regarding their political expenditures, a better course of action may be to amend existing SEC rules to reinforce a market-based approach...In its … [read more]


Legal News
4 Dec 2011
by Maureen Cosgrove

[JURIST] Wall Street organizations International Swaps and Derivatives Association (ISDA) and Securities Industry and Financial Markets Association (SIFMA) [official websites] on Friday filed a lawsuit challenging a regulation [complaint, text] implemented by the Commodity Futures Trading Commission (CFTC) [official website] that limits speculative trading. The CFTC adopted a Position Limits … [read more]


Student Commentary
3 Oct 2011

Andrew Cali-Vasquez, St. John's University School of Law Class of 2012, is the author of the sixth article in a ten part series from the staffers of the Journal of Civil Rights and Economic Development under the direction of Professor Leonard Baynes. Andrew writes on credit default swap position limits … [read more]


Academic Commentary
6 Sep 2011

JURIST Guest Columnist Leonard Baynes of St. John's University School of Law says that in order for a lawyer to be an effective advocate for their client and for social justice, they must advocate to the public as well as the courts. He demonstrates this by introducing a series of … [read more]


Legal News
22 Jul 2011
by Maureen Cosgrove

[JURIST] The US Court of Appeals for the District of Columbia Circuit [official website] on Friday overturned [opinion, PDF] the Securities and Exchange Commission (SEC) [official website] "proxy access" rule. The rule allowed certain shareholders to have their board nominees listed on company-mailed proxy ballots that also list the management's … [read more]


Legal News
21 Mar 2011
by Ashley Hileman

[JURIST] The US Supreme Court [official website; JURIST news archive] on Monday denied certiorari [order list, PDF] in Clearing House Association LLC v. Bloomberg LP [docket], leaving in place a ruling [JURIST report] requiring the Federal Reserve [official website] to release information regarding loans it made to various banks during … [read more]


Legal News
2 Oct 2010
by Sarah Paulsworth

[JURIST] The US Financial Stability Oversight Council (FSOC) [offical website] convened [press release] for the first time on Friday and approved a number of documents related to its duties under the Dodd-Frank Wall Street Reform and Consumer Protection Act [text, PDF]. The FSOC, which operates within the US Department of … [read more]


Legal News
21 Jul 2010
by Hillary Stemple

[JURIST] US President Barack Obama [official website] on Wednesday signed [statement] the Restoring Financial Stability Act [HR 4173 materials] into law. The legislation, which focuses on increasing regulation in the financial sector following the recent economic crisis [JURIST news archive], received final approval by the Senate last week after being … [read more]

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