financial reform bill

Legal Briefing: Ratings Agencies Lose in Court, Again

Among Wednesday's legal news, the California Public Employees' Retirement System won a court decision allowing it to proceed with a lawsuit against the three major ratings agencies, six shareholders have filed suits against Goldman Sachs, and insurance company WellPoint's massive rate hike requests were based on faulty math.

GOP Stops Senate Financial Reform Bill From Advancing

Republicans have stopped a bill designed to reform financial services regulation from moving forward in the Senate. Proponents of a bill that seeks to reduce risk in the banking system and increase consumer protections will now have to draft a new bill that can garner 60 votes needed.