IP and Computer Law – March 2010

From the editors of Wolters Kluwer Law & Business, this update describes important developments from CCH and Aspen Publishers intellectual property and computer law publications. If you have any comments or suggestions concerning the information provided or the format used, we’d like to hear from you. Please send your comments to john.arden@wolterskluwer.com. COPYRIGHTS Unfinished Works […]

Credit Rating Agencies Targeted in Senate Amendment

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, May 13, 2010. The Senate approved an amendment (SA 3991) to financial reform legislation that would end the current system whereby banks can choose which credit rating agencies will rate the quality of their bonds and other financial products. The […]

Dodd to Unveil Financial Reform Bill Monday; Corker “Disappointed”

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, March 11, 2010. Senate Banking Committee Chairman Chris Dodd, D-Conn., said he would move ahead and unveil his own version of financial reform legislation on Monday, after compromise talks with Republicans on the committee failed to resolve all outstanding issues. […]

Senate Democrats Seek End to Bank High-Risk Trading Strategies

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, March 10, 2010. A group of Senate Democrats has introduced legislation aimed at preventing high-risk trading strategies adopted by a few financial firms from leading to another crisis. The bill is similar to the administration’s proposed Volcker Rule, and seeks […]

Bair Urges Spotlight on Bank Lending

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, March 8, 2010. Public pressure needs to be maintained on the banking industry in order to ensure that loans are being made to creditworthy borrowers, Federal Deposit Insurance Corp. Chairman Sheila Bair said March 8, 2010. “A light needs to […]

Treasury Denies Citigroup Benefits from Assumed Government Guarantee

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, March 4, 2010. The Treasury Department denied that Citigroup Inc. continues to benefit from the assumption that the government will step in if the firm faces financial collapse. “There is no too big to fail guarantee on the part of […]

Claim Alleging Filing of False 13Ds in Creeping Takeover Goes Forward in Delaware Court

An acquiring company stated a claim for common-law fraud against hedge funds that engaged in a creeping takeover of a target company under the cover of allegedly false Section 13 beneficial-ownership filings. In so ruling, the Delaware Chancery Court first decided that it had jurisdiction to provide a common-law fraud remedy for claims arising out […]

SEC Discusses Scope of PSLRA Safe Harbor for Forward-Looking Statements

Invited by a federal appeals court to give its view on the scope of the Private Securities Litigation Reform Act safe harbor for forward-looking statements, the SEC said that statements in the MD&A section of a Form 10-Q were within the scope of the safe harbor since the MD&A is separate and distinct from the […]

Frank Opposes Housing CFPA in Federal Reserve

By Sarah Borchersen-Keto, CCH Washington News Bureau, Contributing Author, the CCH Federal Banking Law Reporter, March 3, 2010. House Financial Services Committee Chairman Barney Frank, D-Mass., said he does not support the idea of housing a new Consumer Financial Protection Agency (CFPA) within the Federal Reserve Board. In recent days reports have surfaced that Senate […]

Fed Proposes Rules on Credit Card Fees, Interest Rates

By Richard Roth, J.D., Editor, the CCH Federal Banking Law Reporter, CCH Bank Compliance Guide and Bank Digest, March 3, 2010. The Federal Reserve Board will be proposing amendments to Reg. Z—Truth in Lending (12 CFR 226) that are intended to protect consumers from what are described as unreasonable late payment or penalty fees and […]