As predicted, the Federal Trade Commission is going to court in an attempt to block the merger of daily fantasy sports mega-sites DraftKings and FanDuel. [More]
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Congress Decides Maybe It Shouldn’t Gut Independent Ethics Office (At Least Not Until August)
By 1.3.17
Last night, against the reported wishes of party leadership, Republican members of Congress met behind closed doors to adopt an amendment to the House Rules package that would have effectively neutered an independent Congressional watchdog created in 2008. Following a huge backlash from the public and the President-elect, the lawmakers have now walked back this controversial effort, and will reconsider the change this summer. [More]
Wells Fargo Fake Account Lawsuit On Hold While Bank Tries To Force Case Out Of Court
By 12.13.16
As we mentioned last week, Wells Fargo — the bank where employees opened millions of unauthorized accounts in customers’ names — has been trying to wriggle out of class action lawsuits involving the fake account fiasco by forcing each individual customer into private arbitration. This afternoon, the judge in one lawsuit put the case on hold until he decides whether or not Wells gets to play this “get out of jail free” card. [More]
Two FCC Commissioners Voice Concerns About Net Neutrality Proposal
By 5.8.14
Next week, the full FCC is scheduled to vote on commission Chairman Tom Wheeler’s controversial proposal for new net neutrality rules. But judging by comments made this week by two of Wheeler’s fellow commissioners, it looks like this proposal won’t be moving forward without changes. [More]
Justice Dept. Sued Over Validity Of $13 Billion Chase Mortgage Settlement
By 2.10.14
Remember back in November when JPMorgan reached the massive $13 billion settlement with the Justice Dept. over allegations tied to toxic mortgage-backed securities sold to investors before the housing market went kerflumpp? A non-profit group filed suit today against the DOJ, challenging the validity of the deal and asking for a court to review it. [More]
American Airlines Trustee Looks At $20 Million Payout To Outgoing CEO, Says There’s Some Explaining To Do
By 3.18.13
Though so much of the news about American Airlines has been about its impending nuptials to more financially stable suitor US Airways, let’s not forget that the airline is still clawing its way out of bankruptcy protection. Which is why the trustee put in charge of this process thinks someone should have to explain why outgoing the American CEO is being rewarded to the tune of $19.9 million. [More]
