Labor & Employment Finance & Banking Elections & Politics

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NYC Ban on Use of Credit Checks in Employment Decisions Moves to Mayor’s Office for Signature

On April 16, 2015, the New York City Council voted overwhelmingly to amend the city’s Human Rights Law to prohibit employers from using an individual’s consumer credit history to make employment decisions. While the bill...more

Department of Labor Issues Sweeping Fiduciary Rule Proposal

On April 14, 2015, the Department of Labor (DOL) released a proposal to re-define who is rendered a "fiduciary" of an employee benefit plan under the Employee Retirement Income Security Act (ERISA) by providing investment...more

NC Politics in the News

Members of the North Carolina General Assembly had a full schedule last week, considering bills on everything from repealing the state’s cumbersome Map Act to voiding a law which required teachers to write Personal Education...more

New York City Council Passes Ground-Breaking Legislation Limiting the Use of Credit Checks in Employment

On April 16, 2015, the New York City Council, by a vote of 47-3, approved legislation that would prohibit the use of credit checks in employment decisions except in limited circumstances. The bill, which is expected to be...more

House Republicans ask CFPB and banking agencies to disclaim “Operation Choke Point”

Six Republican members of the House Financial Services Committee, including Chairman Jeb Hensarling, have sent identical letters to the CFPB, OCC, Fed and NCUA asking each agency to “publicly disclaim [its] past, present, and...more

Under the Dome: Inside the Maine State House

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Supplemental Budget to Become Law - Governor LePage will allow the state supplement...more

Under the Dome: Inside the Maine State House

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Supplemental Budget Bill Approved, On Governor's Desk - On Tuesday lawmakers approved a...more

Why PE Should Stick with Entrepreneurs’ Relief Over the New Employee Shareholder Status

Over the years the UK has seen a variety of tax efficient schemes available to incentivize management; and in 2014 the Employee Shareholder Status (ESS) regime was added into the mix. ESS essentially allows an employee...more

Court of Appeal Strikes Down 2011 S.F. Charter Requirement that SFERS Be "Fully Funded" Before Vested Supplemental COLAs May be...

In a March 27, 2015 opinion, the First District Court of Appeal unanimously declared a voter-approved amendment to the Charter of the City and County of San Francisco (City) to be unconstitutional as applied to current City...more

Minnesota Weekly Legislative Update: 03/2015

Today marks the end of the second deadline week at the Capitol. Non-finance bills which have not been heard in all required House and Senate policy committees by midnight tonight may not be acted upon. ...more

Congressional Report Takes Aim At Nonqualified Deferred Compensation

A recent report from ranking member Sen. Ron Wyden and the Democratic staff on the Senate Finance Committee indicates that nonqualified deferred compensation plans continue to be in the crosshairs of potential tax reform...more

Chief Justice Invites New Governor, Legislature to Rare Evening Oral Argument

This evening will bring an event likely not seen in Illinois in more than a century – an evening session of the Illinois Supreme Court....more

Blog: Senate Bill Introduced To Raise Rule 701 Disclosure Threshold

Senators Pat Toomey (R., PA) and Mark Warner (D., VA) have introduced Senate Bill 576, the ‘‘Encouraging Employee Ownership Act.’’ The bill would require the SEC, within 60 days after enactment, to raise the threshold in...more

White House Proposes New Rules to Protect Investors Saving for Retirement

You might think that the top priority of the broker or financial adviser managing your retirement funds is to maximize your returns, but that’s not always the case. Some steer their clients to bad retirement investments with...more

Wrap Up of the 2015 Virginia General Assembly

On Friday, February 27, 2015, the Virginia General Bill Gray Assembly adjourned. For the first time in 15 years, it was an early adjournment. Over 2500 bills and resolutions were filed, and Governor McAuliffe was presented...more

Week in Review - March 2015

Minnesota Budget Forecast/Surplus - Management and Budget shows the State’s previously forecast $1.038 billion surplus for the next biennium has grown to $1.87 billion. Governor Mark Dayton said he will propose using...more

“We are the state that built America”

This morning, Gov. Tom Wolf presented his inaugural budget to the General Assembly. Calling the proposal “a different kind of budget” that “includes Democratic ideas, Republican ideas and ideas that exist beyond party lines,”...more

Fighting the Fiduciary Rule Before It’s Been Even Proposed

Not long after President Obama expressed the desire that the Department of Labor (DOL) implement a fiduciary rule for brokers who work on retirement plans; did one of Wall Street’s paid minions strike back....more

DHS Funded for One More Week; Shutdown Temporarily Averted

Republican leaders and both branches of Congress failed Friday to come to a long-term agreement to provide fiscal year funding for the Department of Homeland Security (“DHS”) and provide confidence that a DHS shutdown will be...more

Under the Dome: Inside the Maine State House

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. February Vacation Results in Relatively Quiet Week in Augusta, Except the Tax Package...more

The White House wants a new fiduciary rule

The White House unveiled their plan to direct the Department of Labor to unveil a new fiduciary standard rule that will curb the conflict of interest and excessive fees that the White House says that mars 401(k) and IRA...more

New 2015 Fundraising Restrictions on California Lobbyists and Limits on California Lobbying Firms

Lobbyists subject to new fundraising restrictions in 2015 - Effective January 1, 2015 lobbyists and their cohabitants are prohibited from hosting fundraising events for candidates and elected officials (for which the...more

Pensions at the Constitutional Convention, Part II: The Clause is Introduced

Although there were several reasons for the 1970 Illinois Constitutional Convention, public pensions became a major subject of discussion in the weeks before the delegates gathered. Elmer Getz, the Chair of the Convention’s...more

Pensions at the Constitutional Convention, Part III: The Opponents and the Vote

We conclude our discussion of the July 21, 1970 debate on the Pension Protection Clause at the Illinois Constitutional Convention. Today, we’ll take a look at more statements by opponents of the measure, the summations by...more

Labor And Employment Law 2014: A Year-End Review

I. New Laws and Regulations - A. Federal - President Obama Signs Executive Orders to Ensure Federal Contractor Compliance with Labor Laws. On July 31, 2014, President Obama signed the Fair Pay and Safe...more

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