In The News Today – January 29, 2015

Standard & Poors is reportedly close to finalizing a $1.37 billion government settlement over allegations involving mortgage bond ratings prior to the 2008 financial crisis. State governments will reportedly receive about $687 million of that settlement, with $100 million going to California. (Wall Street Journal)

U.S. Rep. Blake Farenthold (R-TX) this week introduced the Furthering Asbestos Claims Transparency (FACT) Act of 2015 in the U.S. House. The bill seeks to amend title 11 of the United States Bankruptcy Code, requiring public disclosure by asbestos bankruptcy settlement trusts according to section 524(g) of the title. The bill was passed by the House in 2014, and introduced (but not passed) in the U.S. Senate by U.S. Senator Jeff Flake (R-AZ). (Legal Newsline)