U.S. Congress
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East Capitol St NE & First St SE, Washington, DC 20002
Recent News About U.S. Congress
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WASHINGTON (Legal Newsline) - Newly introduced legislation in Congress would ban foreign governments and sovereign wealth funds from underwriting civil actions in our federal courts, a more than decade old practice of litigation meddling that proponents of the legislation say is undermining our national security.
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DALLAS (Legal Newsline) - Republicans should be putting pressure on President Biden to wean European countries off of Russian energy and onto American liquid natural gas exports.
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U.S. Rep. Ann Wagner, a Republican, introduced The Protecting Advice for Small Savers, or PASS, Act of 2017 last week.
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FDS Bank says the man no longer qualifies for Social Security disability benefits because he has made approximately $800,000 from filing 31 lawsuits. FDS says he made less than $30,000 in 2009 working construction before creating a scheme to manufacture claims under the federal Telephone Consumer Protection Act.
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The legislation, introduced by U.S. Rep. Joe Wilson of South Carolina Friday, would provide for a two-year delay of the U.S. Department of Labor’s fiduciary rule’s effective date. The rule mandates financial professionals who service individual retirement accounts, including IRAs and 401(k) plans, to serve the “best interest” of the savers and disclose conflicts of interest.
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President-Elect Donald Trump and Vice President-Elect Mike Pence are to be inaugurated Jan. 20. The Consumer Financial Protection Bureau is expected to issue its final set of rules prohibiting arbitration clauses that prevent class action lawsuits by then.
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The Competitive Enterprise Institute’s congressional agenda, which was released last week, focuses on eight policy areas, including regulatory reform and agency oversight, banking and finance, and labor and employment, among other topics.
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The federal lawmakers, in a letter sent to the head of the Consumer Financial Protection Bureau earlier this month, urged the bureau to consider including a provision in the final rule that allows financial companies to retain class action waivers in their arbitration clauses. Under the CFPB’s current proposal, companies would be prohibited from putting mandatory arbitration clauses in new contracts.
