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Franchise Industry Sees Victory in Debit Card Fee Lawsuit
U.S. District Court Judge Richard Leon struck down Federal Reserve regulations on debit-card transaction fees on July 31, a victory for retailers that process high numbers of low-ticket transactions. Leon found that the Fed adopted rules that “inappropriately” inflated fees by billions of dollars. See, NACS v. Board of Governors of the Federal Reserve System, 11-cv-02075, U.S. District Court, District of Columbia.
The decision was a win for retailers and retail trade associations that challenged the debit-transaction regulations adopted by the Fed in 2011. According to the retailers, the Fed ignored Congressional directives to consider only certain costs in setting the fee standard and, as a result, set fees too high.
However, in a hearing before Judge Leon on Aug. 21 (the second hearing after the decision), Fed General Counsel Scott G. Alvarez told the judge that the Fed will appeal the decision.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?