Author Archives: Bloomberg BNA - Staff Reports

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Wells Fargo Faces Fewer CFPB Complaints as Lawsuits Loom

Wells Fargo Faces Fewer CFPB Complaints as Lawsuits Loom

By Jeff Bater and Chris Bruce, Bloomberg BNA Consumer complaints against Wells Fargo have returned to levels reported before last September’s fake account scandal, although the risk of litigation could linger for years. The Consumer Financial Protection Bureau database logged half the number of complaints against Wells Fargo in February compared to those recorded at

Photo by Chris Kleponis/ Bloomberg News.

Adviser Challenges SEC In-House Judges for Second Time

By Antoinette Gartrell, Bloomberg BNA The SEC’s administrative law judges are unconstitutionally hired, an investment adviser told the D.C. Circuit March 10 for the second time. A U.S. Court of Appeals for the District of Columbia Circuit panel initially rejected the argument, but the full circuit agreed to reconsider Raymond J. Lucia’s challenge in February.

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White House Proposes $1 Billion Cut to DOJ Funding

By Liz Crampton, Bloomberg BNA President Donald Trump proposed a $1.1 billion cut for the Department of Justice in a budget blueprint released March 16, but the document provides few details on how the administration wants the Antitrust Division to be funded. The fiscal 2018 budget blueprint also doesn’t include proposed funding levels for independent

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Here’s One Class Action Ted Frank Won’t Be Objecting To

By Perry Cooper, Bloomberg BNA  Frequent class settlement objector Ted Frank won’t be objecting to this class action — here, he’s the lead plaintiff. Frank turned to Edelson P.C., a plaintiffs’ class action firm focused on technology and privacy, to file his putative class suit over unsolicited robocalls. He alleges BMOCorp. Inc. made calls to

Photographer: Cole Burston/Bloomberg

PayPal, Google Join Fight to Repeal CFPB Prepaid Rule

By Gregory Roberts, Bloomberg BNA Mobile-wallet providers like PayPal and Google have their own ax to grind in the prepaid card industry’s push to have Congress quash a pending rule from the Consumer Financial Protection Bureau. The companies are particularly unhappy with a provision that would require a 30-day waiting period before extending credit to

Photographer: Paul Morse/Bloomberg News

House Poised to Pass Bills Overhauling Civil Litigation

By Bruce Kaufman, Bloomberg BNA  The House is poised to pass three bills this week championed by industry that may tilt the civil litigation process in favor of business in thousands of cases each year. Business groups are encouraged about the measures’ chances of eventual enactment. That’s because the House is not only taking up

Views Of The Capitol As Senate Adopts Budget With Cuts That Don't Privatize Medicare

CFTC Names Proskauer Lawyer New General Counsel

By Richard Hill, Bloomberg BNA Proskauer Rose LLP special counsel Daniel J. Davis was named general counsel of the CFTC March 6, effective immediately. The move is another signal that the agency is moving ahead despite having only two commissioners and no permanent chairman. Davis specialized in labor and employment law at Proskauer, the Commodity

U.S. President Donald Trump signs executive orders related to a lobbying ban in the Oval Office of the White House in Washington, D.C., U.S., on Saturday, Jan. 28, 2017. Photographer: Pete Marovich/Pool via Bloomberg

Trump Seen as Supportive of Business-Backed Litigation Bills

By Bruce Kaufman, Bloomberg BNA  A package of far-reaching bills to overhaul the civil litigation process, long cherished by business and derided by consumer groups, is likely to win approval from President Trump if it reaches his desk. With a Republican in the White House, supporters of a batch of business-friendly bills now moving through

Photographer: David Paul Morris/Bloomberg

Two From Big Law On Trump’s Labor List

By Chris Opfer and Ben Penn, Bloomberg BNA Three lawyers are on the Trump administration’s shortlist to fill a pair of vacancies at the National Labor Relations Board, sources familiar with the situation told Bloomberg BNA today. Marvin Kaplan (Occupational Safety and Health Review Commission), William Emanuel (Littler Mendelson) and Doug Seaton (Seaton, Peters &

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