(Photo Credit: White House, Public Domain) Justice Brett Kavanaugh is expected to vote to kill the Consumer Financial Protection Board’s single-director structure in Seila Law. v. CFPB, in a major test of executive power the High Court agreed last week to tackle this term. The Court announced on Wednesday it invited former Solicitor General … [Read more...]
Kamala Harris Takes Off the Gloves with JPMorgan/Chase CEO, Jamie Dimon
U.S. Senator Kamala Harris speaking with attendees at the 2019 National Forum on Wages and Working People (Photo Credit: Gage Skidmore, CC 2.0) This is not the first time California Senator and Presidential contender, Kamala Harris, has taken off the gloves with JPMorgan Chase CEO, Jamie Dimon. In her January, 2019 book, “The Truths We Hold: … [Read more...]
House Republicans Might Be Willing to Pass Dodd-Frank Reform Measures
The Senate and the House have split on issues before. Most famously, last year, Congressional leaders were unable to come to a consensus on health care, despite the fact that Republicans have been saying for years that they want to repeal Obamacare. Now, it appears, they might be willing to put their differences aside in order to pass reforms to … [Read more...]
New York Qui Tam Attorneys Weigh in on Record $83 Million Award for Bank of America Whistleblowers
Setting the stage for future successful whistleblowing litigation, New York City qui tam attorneys, Adam Pollock and Steve Cohen, of newly-minted Pollock Cohen LLP, weighed in on Monday’s SEC record $83 million award to three Bank of America’s/ Merrill Lynch executives for holding up to $58 billion a day in a clearing account that should have been … [Read more...]
Trump Administration Takes Aim at Public Databases
Recently, the Treasury Department submitted a 150-page report to the White House, arguing that the public should not have access to a Consumer Financial Protection Bureau (CFPB) database that documents narratives of aggrieved consumers. In 2014, the CFPB proposed expanding its database by inviting consumers to post stories about their negative … [Read more...]
The Financial Choice Act Would Reduce Corporate Accountability
After it was discovered that Wells Fargo created 2 million unauthorized accounts to fill quotas, two of the executives responsible were made to return a fraction of their pay, totaling $60 million. Some thanks are owed to the Dodd-Frank Act of 2010, without which John G. Stumpf and Carrie L. Tolstedt would not have been financially punished. Now … [Read more...]
House Republicans Vote to Repeal Key Reforms in Dodd-Frank
This past Thursday while everyone was watching the Comey hearing, the House of Representatives voted to rescind several post-2008 regulations that Republicans regard as too restrictive on financial institutions. This is the latest in a series of GOP-guided initiatives to roll back Obama-era rules. Trump said earlier in his presidency that he would … [Read more...]
