United States: First Circuit Partially Revives Putative Class Action Against Pharmaceutical Company Alleging Misstatements About Clinical Trial Data - Shearman & Sterling LLP

Credit: Mondaq- Published on January 19, 2024
On October 11, 2023, the United States Court of Appeals for the First Circuit affirmed in part and reversed in part the dismissal of a putative class action asserting claims under the Securities Exchange Act of 1934...

Video credit: Wibbitz Top Stories
Published on January 17, 2024 -  01:30
Biden Admin Seeks to Reduce Bank Overdraft Fees With New Proposal
Biden Admin Seeks , to Reduce Bank Overdraft Fees , With New Proposal. CNBC reports that the Consumer Financial Protection Bureau (CFPB) has unveiled long-awaited updates to how major banks structure their overdraft protection plans. . CNBC reports that the Consumer Financial Protection Bureau (CFPB) has unveiled long-awaited updates to how major banks structure their overdraft protection plans. . According to the CFPB, the new rule closes a loophole that has exempted overdraft loans from consumer protections required by 1968's Truth and Lending Act. According to the CFPB, the new rule closes a loophole that has exempted overdraft loans from consumer protections required by 1968's Truth and Lending Act. CFPB data shows that U.S. consumers have paid an estimated $280 billion in bank overdraft fees since 2000. Over that same period of time, major banks' annual revenue from overdraft fees has soared. For too long, some banks have charged exorbitant overdraft fees— sometimes $30 or more—that often hit the most vulnerable Americans the hardest, all while banks pad their bottom lines, Joe Biden, President of the United States, via CNBC. Banks call it a service — I call it exploitation, Joe Biden, President of the United States, via CNBC. The CFPB said that the new regulations only affect banks with over $10 billion in assets, impacting about 175 institutions across the country. The new rules, including several potential benchmark rates ranging from $3 to $14 per transaction, are reportedly expected to be completed this year and go into effect by October 2025. CNBC reports that the new rules would provide major banks two options, including offering overdraft coverage as a courtesy service, as opposed to a revenue-generating line of credit. Under the second option, banks could offer overdraft loans for profit as long as they treat the funds as credit line loans, which would subject them to Truth in Lending Act regulations

You are here


Related videos from verified sources

#🥵Wwe#Logan🥶 Paul# vs. #Kevin Owens - United States Title Match: Royal Rumble 2024 highlights 03:08
Credit: Rumble - Published on January 31, 2024 


United States Says It Will 'Respond in an Appropriate Fashion' to Jordan Drone Strike 01:30
Credit: Wibbitz Top Stories - Published on January 30, 2024 


Norfolk Southern Joins Federal Pilot Program for Workers to Report Safety Concerns 01:30
Credit: Wibbitz Top Stories - Published on January 30, 2024 


Related news from verified sources

On December 28, 2023, Judge Jed S. Rakoff of the United States District Court for the Southern District of New York dismissed a putative class action alleging...
on January 16, 2024 • Mondaq

On October 11, 2023, a divided panel of the United States Court of Appeals for the Ninth Circuit dismissed for lack of standing an appeal from the dismissal of a...
on January 19, 2024 • Mondaq

On November 6, 2023, Judge Jed S. Rakoff of the United States District Court for the Southern District of New York granted in part and denied in part a motion to...
on January 20, 2024 • Mondaq

You might like