Posts tagged with: "general"
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3 Mar 2011, 5:48 pm
The oft-debated paid sick leave bill has made another appearance at the legislature. And as in the past, it has been voted out of the committee, this time by a narrow vote of 6-5 on Thursday, March 3rd.
None of this ought to come as any surprise. It's been voted out of committee for the last four years. And as predicted last November, Governor Malloy's support for the measure suggested that the bill would at least see some debate.
But it's not as though there is smooth sailing ahead. The Hartford… [read post]
16 Dec 2012, 7:57 pm
As a client alert issued by the law firm bearing my favorite acronym (MoFo) put it so well, last week "Congress gave banks and other ATM operators an early holiday present."
On December 11, the Senate unanimously passed S. 3204, which eliminates the external fee notice requirement in the Electronic Fund Transfer Act, 15 U.S.C. § 1693, et seq. (“EFTA”). The House passed an identical bill, H. 4367, last July. The President is expected to sign the measure into law.
I'm not sure… [read post]
9 Dec 2012, 8:05 pm
Eighteen months ago, we made the official call: "B of A has become the poster child for foreclosure dysfunction." Of course, we were way late in throwing that flag, but unless we could belabor the obvious, we'd be out of blogging material.
The incident that prompted our banal observation was the sweet foreclosure by a wrongfully foreclosed-upon Florida couple upon a Bank of America branch, a theatrical performance engineered by an attorney only eight months out of law school. It turns out that the… [read post]
21 Apr 2013, 7:54 pm
Nearly two years ago, we noted that the Florida Bar had filed a complaint against former Florida Foreclosure King David J. Stern over alleged ethical lapses related to the meltdown of his foreclosure mill firm in the wake of a robosigning scandal. The wheels of justice grind exceedingly slowly (at least, they do in The Sunshine State), but last week, the Bar filed another whopper against Stern.
It took two years, but the Florida Bar has finally dropped a doozey of a complaint against former… [read post]
18 Dec 2011, 7:53 pm
Was anyone surprised by this?
The Federal Housing Finance Agency sued Chicago to prevent the enforcement of a recent ordinance forcing the maintenance of vacant homes before the foreclosure process is completed.
[...]
The FHFA claims in a lawsuit filed with the U.S. District Court for the Northern District of Illinois that the ordinance forces Fannie Mae and Freddie Mac to comply "even when the enterprises have not foreclosed upon a property and therefore do not have ownership of the… [read post]
1 May 2013, 9:34 am
The General Assembly has taken action on several Workers' Compensation bills in this year's session. Twenty-five bills dealing with Workers' Compensation matters were introduced. The bill calling for Commission decisions to be emailed will become law while another piece of proposed legislation -- that would expand punishment for employers who retaliate against workers who file workers' compensation claims -- has been referred for study. Many other bills probably won't make it out of this year's… [read post]
6 Jun 2011, 7:34 pm
The great thing about irony is that it splits things apart, gets up above them so we can see the flaws and hypocrisies and duplicates.--David Foster Wallace
Knowing what a fan I've been of the foreclosure practices of Bank of American over the past few years, a member of the bank trade press sent me a link to a story that made my day, perhaps my week. Last February, we recounted one in a series of foreclosure mishaps by Bank of America, in that case involving Bank of America's foreclosing on a… [read post]
10 Dec 2012, 2:58 pm
Last Tuesday, ACC’s Law Department Management Committee hosted a webcast, “Practical Tips for the New General Counsel.” During the online presentation, moderators Kevin Blodgett, senior vice president and general counsel, Rockwater Energy Solutions, Inc., and Robin Snasdell, managing director, Huron Legal, outlined 10 practical tips for new GCs.
“Begin with the End in Mind” was the principal theme of the presentation. According to the moderators, the three pillars of… [read post]
5 Jun 2013, 7:41 pm
Last night's post concerning the crackdown on banks' overdraft fees and programs by federal bank regulators and the always vigilant CFPB, spurred one long-time financial institutions' attorney to write me the following hot opinion this morning, which I've editied to remove identifying information that could be used by the KGB to hunt down this lawyer and his family members and send them all to re-education camps:
“ . . . especially when those babies' parents will be
turning to alternatives… [read post]
18 Sep 2011, 7:44 pm
Former FDIC Chairman (and current Chairman of Fifth Third Bancorp.) Bill Isaac gave a no-holds-barred interview to Infosecurity.com's Tracy Kitten last week, in which he had some harsh words for Dodd-Frank in general and the Durbin Amendment in particular. Among the high points to me were the following:
We could very well be on the verge of a double-dip recession "because we just have a dearth of political leadership in this country right now...We've lost confidence and the government is doing… [read post]
6 Jun 2012, 12:46 pm
This week it is all about Facebook and Twitter, even for general counsels.
Asked: Our weekly question to the In-House community
National Labor Relations Board Acting General Counsel Lafe E. Solomon issued his latest report on employee social media use May 30, his third in less than a year. Solomon examined the practices of several companies’ social media policies but basically maintains that when companies create too many rules for social media use, they violate the National Labor Relations Act by… [read post]
10 Jul 2012, 7:49 pm
In a speech yesterday to the National Council of La Raza in Sin City, CFPB Reichsführer Recess Richie Cordray told an audience of true believers “no más.” After using the phrase seven times, he finally uttered the immortal line "Let me say it one last time: “No más.” That was kind of redundant, but we were glad to hear it finally end, in the same manner we always appreciate a set of screeching fingernails finally hitting the end of a blackboard.
If you're into self-abuse, you can read… [read post]
14 Apr 2010, 12:52 pm
Trade Regulation TidbitsThis posting was written by Darius Sturmer, Editor of CCH Trade Regulation Reporter.Notes on recent state enforcement actions:? American International Group (AIG) has agreed to pay $9 million to settle a lawsuit by the State of Ohio alleging violations of the state’s antitrust laws. AIG, the world’s largest insurance company, was alleged to have conspired with insurance broker Marsh & McLennan and other insurers to eliminate competition in the commercial casualty… [read post]
9 Oct 2011, 7:43 pm
While I was busy hobnobbing with fellow sharks last week (most of us were Hammerheads, not Great Whites), our beloved leader (aka "The One") intimated that among the "Unfair, Deceptive, and Abusive Practices" he wants Rich Cordray and the CFPB to crack down on is the heinous practice of banks making "a certain amount of profit" by "mistreating" their customers. By "mistreating," he apparently means charging customers fees for things like using their debit cards instead of sticking to their knitting… [read post]
17 Oct 2011, 7:48 pm
A reader commented that the letter by Peter Welch and five Democratic congressmen to Eric Holder that demands that the US Justice Department investigate big banks and their trade associations for price fixing on debit card fees, like the $5 fee announced by Bank of America, proves a point I made last night: members of Congress don't get basic business principles. While I think the fact that losing half their interchange fee income through the Durbin Amendment and the FRB's implementation of its… [read post]
20 Jun 2011, 7:54 pm
Last summer, Wal-Mart was scooping up small business borrowers through its Sam's Club unit. This summer (paid subscription required), Wal-Mart is stealing another march on bankers by focusing on consumers.
The retailer next week will begin rolling out automated versions of its MoneyCenter offices, which provide a range of financial services to shoppers.
The "MoneyCenter in a box" concept will feature ATM-like machines positioned in Wal-Mart stores that do not have full MoneyCenters, said … [read post]
21 Jun 2012, 7:37 pm
Someone had to take on the CFPB, the Goldman Sachs of regulatory agencies, the great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like it might be a viable bank. Who better than a bank from the only state that was once an independent nation? No, I'm not talking about Hawaii, I'm talking about the Lone Star State.
A Texas community bank is leading a lawsuit against the Consumer Financial Protection Bureau.
The State National… [read post]
8 Nov 2011, 7:37 pm
Adam Kress, the New Media Editor of the Phoenix Business Journal, calls Bank of America's $410 million settlement of class action litigation over its debit card overdarft fees practices "another reason to hate big banks." His major irritation is that customers who were injured are not being "made whole."
[A]ttorneys for the plaintiffs claim the average customer in the case had $300 in overdraft fees. They will be eligible for only $27 in rewards from this case.
What Adam fails to mention in… [read post]
20 Nov 2012, 6:40 am
For 10 years, Paula Boggs served as executive vice president, general counsel and corporate secretary to Starbucks Coffee Company. Earlier this year, she bid farewell to the coffee conglomerate and is now retired at the age of 53 — about 14 years ahead of schedule, according to a recent Gallup poll. For Paula Boggs, however, retirement was not the end of her story … far from it, in fact. Since then, she has volunteered for Obama’s presidential campaign, continued to serve on multiple boards of… [read post]
30 Mar 2011, 8:13 am
Through the years I have noticed there are some common questions that most clients ask at the beginning of their case. Here are some answers to these common questions, which hopefully are of assistance to you if you have been injured by the fault of someone else:
1) Do I have a case?
This depends on a number of factors. Were you injured? Did someone else's fault cause you to be injured? Is there insurance? Has the statute of limitations passed? Basically, this question does not have a… [read post]