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March 16, 2010

In the News Today – October 3, 2016

Objections Made to Plaintiffs’ Attorneys Proposed $300 Million in Fees from VW Settlement: Plaintiffs’ attorneys seeking more than $300 million in fees from the potential $10 billion Volkswagen settlement (over emissions allegations) are being criticized by some who point out the lawyers’ work “largely overlaps what was accomplished by the Justice Department and federal regulators.” Ted Frank of the Competitive Enterprise Institute’s Center for Class Action Fairness has filed an objection, claiming “the plaintiff attorneys obtained almost nothing for class members that isn’t provided under VW’s consent agreements with the DOJ and Federal Trade Commission.” (Forbes)

CFPB at Five —Doing More Harm Than Good? As the Consumer Financial Protection Bureau (CFPB) marks its five-year anniversary, some are saying the agency is doing more harm than good. “They don’t weigh the effect that any regulation or order or consent order will have on the operations of a [financial] institution,” said Craig Nazzaro, who specializes in regulator law with Baker Donelson’s Atlanta office. “By doing so, they risk the issue of putting such high regulations on institutions that hinder the consumer’s ability to access credit down the road.” (Legal Newsline)

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