Posted by Yacheng Xu. Federal Reserve Bank of New York President William Dudley “warned that investing in privately issued digital money such as bitcoin could end in big financial losses for those involved.” He opined, “There is a bit of a, I would say, speculative mania around cryptocurrencies in terms of their valuations, which I …
Author Archives: blogbusinesslaw
FTC Archives – Blog Business Law – a resource for business law students
Posted by Masood Mohayya. In Fall 2015, TaxSlayer, a web-based tax preparation service, fell victim to a data breach, specifically a credential-stuffing attack. Due to a security flaw, the cyber-attackers were able to gain access to almost 9000 TaxSlayer accounts, which provided them the highly-sensitive data (including social security numbers, bank accounts, and credit card information) …
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Trump Reveals Tax Plan
Donald Trump’s tax plan will make it more simple to pay the government. There are four tax rates under the plan: 25%, 20%, 10% and 0%, eliminating most deductions. The death tax will be eliminated. According to the website, “The Trump plan eliminates the income tax for over 73 million households. 42 million households that …
Tom Brady’s Suspension
Posted by Mike Bocchino. Tom Brady has been accused of knowing about his team deflating footballs in the 2015 AFC championship game against the Indianapolis Colts. The footballs’ air pressure had been significantly reduced to a point where other players could tell the difference. The NFL commissioner, Roger Goodell, investigated and suspended Brady for knowing about …
Proposed Legislation Demanding More Transparency from the Fed
Both sides of the political isle are pressuring the Fed to be more transparent regarding its monetary policy and cease “cozying up” to the banks it oversees. There are several legislative proposals that some prior Presidents of the Fed consider to be a threat to its independence. If any one of them are passed, it would be …
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Bank of America Settles Consumer Fraud Charges
Bank of America (“BofA”) recently settled with the U.S. Consumer Financial Protection Bureau and Office of the Comptroller of the Currency for deceptive credit-card practices. BofA is ordered to pay $727 million in refunds to customers and $45 million in penalties. The allegations were BofA induced customers to purchase certain add-ons, such as identity-theft protection, …
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Pepsi Vows to Improve Health of Drinks by 2025
Posted by Matt Gilbert. PepsiCo is beginning to take its health push seriously, stating last month that it plans to reduce the amount of sugar, salt and fat in its products by the year 2025. The company’s newest aspiration comes as a response to growing world obesity and its striving to be in better accordance …
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Wells Fargo Scandal
Posted by Frankie Panicucci. Wells Fargo is a corporate bank with very high and unrealistic sales targets. To meet these unrealistic sales targets Wells Fargo employees were secretly opening millions of unauthorized bank and credit card accounts for customers without their knowledge. These unauthorized accounts that were created racked up fees and allowed Wells Fargo to …
Tom Wheeler Archives – Blog Business Law – a resource for business law students
Posted by Alonso Arbulu. In June 2016, a federal court of appeals upheld government net-neutrality rules. The Federal Communications Commission enacted this new ordinance under the past chairman, Tom Wheeler. According to this law, both the government and Internet providers should treat all data on the web as equal. An issue arose, when T-Mobile, Verizon, …
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Workers Union Alleged Lack of Oversight Leads to Lawsuit for Violating the Railway Labor Act
Posted by Avinash Sookdeo. On February 15th, Southwest Airlines Co. filed a lawsuit against Aircraft Mechanics Fraternal Association (AMFA), and several of its officers, including Bret Oestreich, its National Director, in a Texas federal court. AMFA represents about 2,400 of Southwest’s mechanics and others in related fields. The lawsuit claims that AMFA allegedly helped to …