Election & Politics Law, Finance & Banking

Financial Services Legislative and Regulatory Update -- May 20‚ 2013

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 5/20/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - The conflation of three scandals clearly tainted President Obama...more

House to hold hearing on CFPB ability to repay/QM rule

by Barbara S. Mishkin | Ballard Spahr LLP on 5/20/2013

The House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit has scheduled a hearing for tomorrow, May 21, on “Qualified Mortgages: Examining the Impact of the Ability to Repay Rule.”...more

Further Setback for the CFPB Director’s Authority?

by Marc Hearron, Andrew M. Smith, Nancy R. Thomas | Morrison & Foerster LLP on 5/20/2013

A split panel of the U.S. Court of Appeals for the Third Circuit issued a decision yesterday holding that a “recess” appointment to the National Labor Relations Board (NLRB) was unconstitutional and invalid. NLRB v. New Vista...more

Budget 2013-14: Impacts to the Life Sciences Industry - Baker & McKenzie

by Ben McLaughlin | Baker & McKenzie Australia on 5/20/2013

Earlier this week on 14 May, the Treasurer delivered the Australian Federal Budget for 2013-14. Whilst it contains no real surprises for the pharmaceutical or medical technology sectors, it shows how much the Pharmaceutical...more

Senate appears to be nearing vote on Cordray renomination

by Barbara S. Mishkin | Ballard Spahr LLP on 5/16/2013

Bloomberg has reported that, according to a spokesman for Senate Majority Leader Harry Reid, the Senate will vote next week on whether to advance President Obama’s renomination of Richard Cordray to serve as CFPB Director....more

Trade group charges CFPB’s closing of Consumer Advisory Board meeting to public violates federal law

by Barbara S. Mishkin | Ballard Spahr LLP on 5/16/2013

A letter sent today to the CFPB by an attorney for the Community Financial Services Association of America (CFSA), a national trade organization for payday lenders, asserts that the CFPB violated the Federal Advisory...more

Bennett Jones Spring 2013 Economic Outlook

by Richard Dion, David A. Dodge O.C., John M. Weekes | Bennett Jones LLP on 5/16/2013

This Economic Outlook has a somewhat different structure from previous issues. The first section covers recent dynamics and short-term outlook for the world economy; the second section reviews recent international trade...more

New Justice Department's FIRREA Cases Against Banks: Holding The Victim Responsible

by Robert J. Anello | Morvillo Abramowitz Grand Iason & Anello P.C.... on 5/16/2013

The government’s ever-evolving response to the United States financial crisis has come full circle, as civil Justice Department Attorneys seek to rely on legislation enacted to protect financial institutions from fraud to sue...more

Alabama Legislative Update – Week 13: Budgets Approved, Medicaid and Tax Bills Sent to Governor Bentley

by Denise Killebrew, Dennis Nabors | Baker, Donelson, Bearman, Caldwell &... on 5/15/2013

With the constitutional deadline of midnight on the 30th day closing in, Alabama lawmakers worked at a feverish pace to complete work on some of the most substantial and controversial legislation in the 2013 session....more

Gov. Brown Proposes Boost To Education Funding

by Meghan Covert Russell | Kronick, Moskovitz, Tiedemann & Girard on 5/15/2013

Governor Brown's proposed budget, released today, includes a much needed boost to spending on public education. ...more

Tax Changes Loom in the President’s 2014 Budget Proposal

by Les Williams | Niles, Barton & Wilmer, LLP on 5/15/2013

The White House recently released its Fiscal Year 2014 budget proposal, and there are many suggested changes that will impact individuals, businesses, and estates. Several of these proposals—particularly on the estate and...more

CFPB Targets Auto Financing For Enforcement

by Michael Volkov on 5/14/2013

The Consumer Finance Protection Bureau continues to spread its wings in the enforcement arena. It is an agency born and confined in political controversy. ...more

IRS Targets Conservative Groups

by William McGinley | Patton Boggs LLP on 5/14/2013

The disclosure that the Internal Revenue Service (IRS) targeted conservative groups was disclosed last Friday afternoon in the form of an apology by an IRS official in response to a question during a panel discussion at a...more

Financial Services Legislative and Regulatory Update -- May 13‚ 2013

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 5/13/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - What had been a relatively quiet week, where until Friday it seemed...more

Harrisburg Charged With Securities Fraud - Securities and Exchange Commission Says City Made Misleading Financial Statements

by Kimberly Byrens | Best Best & Krieger LLP on 5/10/2013

The inclusion of the public statements of an elected official in allegations of securities fraud could change the traditional relationship between the politicians and their constituency versus issuers and the bond market....more