TOBACCO INDUSTRY LOSES ROUND IN JUSTICE DEPARTMENT BID.
The tobacco industry has lost two recent court battles, as U.S.
District Judge Gladys Kessler declined to dismiss the industry's
request for dismissal of racketeering charges brought by the . . .
GMAC AGREES TO SETTLE BIAS SUIT WITH BLACK BUYERS.
General Motors Acceptance Corp. has agreed to settle a class-action
lawsuit which claimed the nation's second largest auto lender had
discriminated against African Americans by allowing auto . . .
HEALTH CARE EMERGES AS PRIME CONCERN IN PRESIDENTIAL
CAMPAIGN.
Voters in New Hampshire's Jan. 27 Democratic presidential
primary gave Sen. John F. Kerry (D-MA) his second primary win, with exit
polls showing soaring health care and Medicare costs were a prime . . .
OXLEY: OCC PREEMPTION RULE THOUGHTFUL AND APPROPRIATE.
House Financial Services Chairman Michael Oxley (R-OH) sided with
the Office of the Comptroller of the Currency Jan. 28, saying it had
authority to rush into publication a new rule preempting . . .
DECISION OF THE WEEK: FLEET MORTGAGE SETTLEMENT IS THROWN
OUT.
The Seventh U.S. Circuit Court of Appeals has thrown out a
settlement of a class action against Fleet Mortgage Corp., suggesting
the agreement was a sweetheart deal.
"Would it be too cynical to . . .
JUDGE OKs EXXON VALDEZ AWARD.
U.S. District Judge H. Russel Holland has affirmed an award of $4.5
billion in punitive damages against Exxon Mobil Corp. in the 1989 oil
spill of the Exxon Valdez. The company said it would . . .
PENSION BILL PASSES SENATE 86-9; BUSH THREATENS TO VETO
IT.
By a vote of 86-9, the Senate Jan. 28 passed a bill allowing
pension plans to temporarily replace the 30-year Treasury bond rate with
a rate based on long-term corporate bonds to determine the . . .
BUSH IN BIND ON PUSHING AGENDA AS CONSERVATIVES, DEMOS
ATTACK.
Conservative Republicans erupted in outrage Jan. 29 after Budget
Director Joshua Bolten disclosed the federal deficit is expected to rise
from $374 billion to $521 billion and the new Medicare . . .
WATCH ON THE MEDIA.
The Boston Globe reported Jan. 22 that Republican staff members of
the Senate Judiciary Committee "infiltrated opposition computer
files for a year, monitoring secret strategy memos and . . .
NEW YORK: COLUMBIA FACES SUIT OVER FOOD-POISONING TEST.
Columbia University and an assistant professor at its business
school face a libel suit by six restaurant owners who claim they were
damaged by letters falsely claiming food poisoning in an . . .
MARYLAND DOCTORS & NURSES LOBBY FOR MALPRACTICE
LIMITS.
Some 2,000 doctors, nurse-midwives and nurse-practitioners rallied
in Annapolis Jan. 22 to back four bills aimed at limiting liability in
medical malpractice cases.
The Maryland State Medical . . .
MARYLAND COUNTY SEEKS TO END PLAGUE OF POLICE LIABILITY.
After years of lawsuits alleging excessive use of force by police,
Prince George's County, MD, reached agreements with the Justice
Department Jan. 22 intended to spell out and ensure reformed . . .
ILLINOIS: CUSTOMS MANAGERS NOT LIABLE IN BIVENS CLAIM.
U.S. Customs Service managers at O'Hare International Airport
are not liable for discrimination allegedly practiced by line inspectors
who subjected disproportionate numbers of African-American . . .
ILLINOIS MAN'S CELL-PHONE SUIT ISN'T PREEMPTED, COURT
RULES.
An Illinois man suing a cell-phone company over extra charges may
have his lawsuit heard in state court, where he wanted it in the first
place, the Seventh U.S. Circuit Court of Appeals ruled Jan. . . .
HMO PROFITS INCREASE BY 60 PERCENT IN FIRST QUARTER OF
2003.
Health maintenance organization profits increased by 60 percent
during the first quarter of 2003, going up to $2.3 billion compared to
$1.4 billion for the same three month period in 2002, Weiss . . .
ARCHER DANIELS MIDLAND PREVAILS AGAINST AON RISK
SERVICES.
The Eighth U.S. Circuit Court of Appeals has upheld a $16.5 million
award by Archer Daniels Midland Co. against Aon Risk Services in a
dispute over insurance coverage on losses when 1993 flooding . . .
OCC CALLED TO JUSTIFY EXEMPTION RULE BEFORE HOUSE
COMMITTEE.
The House Financial Services oversight and investigations
subcommittee has ordered Comptroller of the Currency John Hawke to
appear Jan. 28 to justify the new rule issued Jan. 7 preempting . . .
SOME 100 FAMILIES OPT TO SUE OVER 9/11.
About 100 of the 2,976 families eligible to file death claims
following the terrorist attacks on Sept. 11 opted to do so last week.
The others all opted to accept guaranteed compensation from . . .
CONSERVATIVES SCORE BUSH OVER NEW MEDICARE LAW.
President George Bush no longer has solid support from the
conservative wing of the Republican party, conservatives made clear last
week at the annual meeting of the Conservative Political . . .
NAIFA ENDORSES OPTIONAL NATIONAL PRODUCER'S LICENSE
INITIATIVE.
While continuing to affirm its support for state regulation, the
National Association of Insurance and Financial Advisors board voted
last week to strengthen the association's position on . . .
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