On March 6, 2023, the Federal Trade Commission (FTC) unanimously voted to extend the public comment period for its proposed rule on banning non-competites until April 19, 2023. Originally, the deadline for submitting comments was March 20, 2023.
Commissioner Christine S. Wilson, who formally tendered her resignation effective March 31, 2023, issued a concurring statement for the unanimous vote to extend the public comment period. She noted that “the proposed rule is a departure from hundreds of years of precedent and would prohibit conduct that 47 states allow.”
The FTC has received over 17,557 comments and posted over 8,848 comments…
Legal & General Group Plc (OTCMKTS:LGGNY – Get Rating) has been given an average rating of “Hold” by the ten brokerages that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts who have updated their coverage on the stock in the last year is $338.33.
Several analysts have issued reports on the company. Morgan Stanley dropped their price target on Legal & General Group from GBX 295 ($3.62) to GBX 285 ($3.50) in a…
Alan Kandel will present “ESOP Legal Update,” at the Heart of America Chapter Spring Roundtables and Conference on Thursday, March 16, 2023.
With the 50th Anniversary of ERISA approaching in 2024, this session will provide a “Legal Update” with a particular focus on the continuing and compelling need for Department of Labor (“DOL”) regulatory guidance regarding the meaning of the term “adequate consideration” which lies at the heart of almost every ESOP transaction. Among other things, we will explore a recent Petition filed by The ESOP Association under the Administrative Procedure Act calling for Notice and Comment Rulemaking by DOL…
On March 8, the Consumer Financial Protection Bureau (CFPB) published a special edition of its Supervisory Highlights report that focused on back-end fees charged to consumers in connection with deposits, auto servicing, mortgage servicing, payday and small-dollar lending, and student loan servicing. In the CFPB’s view, nearly all of the fee practices highlighted in the report constitute unfair, deceptive, or abusive acts or practices (UDAAPs) in violation of federal law. the Supervisory Highlights report is another attempt by the CFPB to pressure financial service providers to reform fee practices involving so-called “junk” fees.
Highlighted fee practices
The CFPB noted several…