While the U.S. Supreme Court has now upheld the health care reform law as constitutional, conservative groups still are on a legal attack on the constitutionality of one of the other signature achievements of President Barack Obama’s term in office: the Dodd-Frank financial reform law.
Last week, C. Boyden Gray, an eminence grise of conservative Washington, along with the Competitiveness Enterprise Institute and the 60 Plus Association, filed a lawsuit in U.S. District Court to challenge the constitutionality of Dodd-Frank, joining the Texas-based community bank, State National Bank of Big Spring. While the Dodd-Frank has been under ...
Continue readingCFPB launches public consumer complaint database
Despite opposition from the financial industry, the newly minted Consumer Financial Protection Bureau (CFPB) today launched a public database of consumer complaints about credit cards--including the name of the company issuing the card--received since June 1. The beta version of the database is available for viewing and downloading on the agency's website. The Bureau plans to add to and tweak it in the months ahead with complaints about other financial products, such as mortgages, student and other types of loans, and banking charges and fees.
"No longer will consumer complaints only be known to the individual complainant, bank, regulator ...
Continue readingAg, chemical interests lobby for farm bill to reverse pesticide rules
A host of pesticide and agricultural interests is lobbying for a farm bill amendment that would permit farmers and others to spray pesticides near U.S. waters without seeking a Clean Water Act permit first.
The Pesticide Policy Coalition, CropLife America, Syngenta Corp. and Dow AgroSciences are among the organizations listed as clients in new lobbyist registrations last month by John H. Thorne, according to Sunlight's lobbying registration tracker. Thorne recently joined the firm Bergeson & Campbell, which describes itself as an environmental law firm that helps "companies that make and use chemicals commercialize their products, maintain compliance, and achieve ...
Continue readingWho’s the money behind the farm bill?
As the Senate debates the farm bill this week, a once-every-five-years lobbying extravaganza that sets policy on farm subsidies, food assistance, nutrition, and myriad other agricultural programs, here's a quick look at some of the big money interests that are involved, as well as pressure points for transparency, or the lack of it.
The money. Agribusiness has already sunk $39.2 million in direct contributions to federal candidate and party coffers this election cycle, nearly three-fourths of that to Republican interests, according to the Center for Responsive Politics. In 2008, the last presidential election cycle, which also happened to ...
Continue readingGuess who’s giving to lawmaker trying to repeal tax on medical devices?
The Minnesota congressman leading the charge to repeal a medical device excise tax that is meant to generate a big chunk of funding for the health care reform law has taken the most campaign money--more than $64,000--from medical device manufacturers this election cycle.
Rep. Erik Paulsen, R-Minn., has attracted 240 cosponsors, including 11 Democrats, for his bill to repeal the 2.3 percent excise tax, which the House is scheduled to consider this week. Paulsen hails from a state where the medical device industry is a substantial employer. Companies such as Medtronic, St. Jude Medical, and Starkey Laboratories ...
Continue readingBloomberg sugary drink ban has powerful opponents
Mayor Michael Bloomberg's announcement that the city will pursue a ban on large sugary drinks sold at restaurants, movie theatres, and other locations is just the latest attempt in his campaign against obesity--one that has so far met with little success in the face of a powerful food lobby, one sometimes joined by odd bedfellows.
In 2010, when his administration asked the federal government for permission to prohibit New York City food stamp recipients from purchasing sugary drinks with their benefits, the Food Industry Alliance of New York State, a trade group representing New York State grocers and other ...
Continue readingMore JPMorgan meetings with Treasury on Volcker rule
JPMorgan executives, including CEO Jamie Dimon, attended several meetings at the Treasury Department last month to discuss the controversial Volcker rule and other matters related to the Dodd-Frank financial reform law, according to new meeting logs released by the agency Thursday.
In the weeks leading up to the bank's disclosure that it had lost at least $2 billion in the sort of hedging strategy that could come under question as agencies implement the Volcker ban on proprietary trading, JPMorgan executives attended three meetings at the agency, the logs show.
Two of those meetings, both on April 26 with Deputy ...
Continue readingPrivate equity invests in lawmakers
Whether or not the much-in-the-news private equity industry has been the bane of the economy or a job creator, one fact remains uncontested: it has been very, very good for political fundraising, for Republicans and Democrats alike.
With $22 million contributed this election cycle alone, according to Influence Explorer, top recipients look like a who's who of powerful politicians. House Speaker John Boehner, R-Ohio, and Republican Whip Eric Cantor, R-Va., have collected large amounts, along with Sen. Bob Menendez, a New Jersey Democrat who recently served as chairman for his party's senatorial campaign committee and is himself facing ...
Continue readingDangerous medical device ‘loophole’ still wide open
Consumer groups are crying foul over bipartisan legislation to extend user fees for pharmaceuticals and medical devices. They say that the bill, which the Senate hopes to pass this week, is missing a provision that would close a dangerous loophole in medical device safety.
Right now, the Food and Drug Administration (FDA) does not have the power to require medical device manufacturers to prove they've fixed known safety flaws before they put a new device on the market. Sen. Jeff Merkley, D-Ore., and Rep. Edward Markey, D-Mass., both introduced bills earlier this year that would give the FDA this ...
Continue readingJPMorgan CEO Jamie Dimon met with Treasury Secretary on Volcker in March
Newly published meeting logs from the Treasury Department show that Jamie Dimon, CEO of embattled JPMorgan & Chase, had a private audience with Secretary Timothy Geithner to discuss the Volcker rule and other issues on March 6.
The logs also show that JPMorgan executives attended two other meetings that same month. Volcker was also on the table at another Treasury session the same day, this one a larger meeting with Deputy Assistant Secretary Lance Auer that also included representatives with other groups such as Credit Suisse and Goldman Sachs.
The day before, JPMorgan representatives were also present at another group meeting ...
Continue reading
59063
