Data privacy bill aims to regulate data brokers | Retail sales higher than expected in March | BofA, Morgan Stanley, PNC, Goldman report Q1 results
April 16, 2024
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Corporate Spotlight
The Justice Department is preparing a lawsuit accusing Live Nation of using its dominance in the live event industry to hinder competition for ticketing, said people with knowledge of the matter. The antitrust suit could be filed as early as next month, sources say.
Full Story: Axios (4/16),  The Wall Street Journal (4/15) 
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National News
A bipartisan data privacy bill is targeting large data brokers and would create new requirements to limit and regulate the use, storage, protection and sharing of personal data. The proposed American Privacy Rights Act seeks to set a national security standard and give individuals control of their data.
Full Story: CyberScoop (4/15) 
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Retail sales climbed more than expected in March, rising 0.7%, according to the Commerce Department. An increase in February has been revised upward to 0.9% from 0.6%, marking the largest gain in over a year. A 2.7% increase in online sales aided March spending, while sales at gas stations increased 2.1%.
Full Story: Reuters (4/15) 
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Financial and Tax Update
Bank of America earned $6.7 billion in the first quarter, in line with analysts' expectations, while revenue declined 2%. Morgan Stanley's earnings were ahead of expectations at $2.02 a share, compared with an expected $1.66. Revenue also topped expectations at $15.14 billion, compared with an expected $14.41 billion. PNC Financial Services Group had $3.26 billion in net interest income, missing an average estimate of $3.3 billion. On Monday, Goldman Sachs reported earnings per share of $11.58 compared with an expected $8.56, while revenue came in at $14.21 billion, ahead of expectations of $12.92 billion.
Full Story: CNBC (4/16),  The Wall Street Journal (4/16),  Bloomberg (4/16),  CNBC (4/15) 
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The number of banks prepared to access the Federal Reserve's discount window is rising, but more than half of US banks have yet to pledge collateral to establish such borrowing capacity, Fed data shows. At the end of last year, 5,418 banks and credit unions had legal agreements in place allowing them to borrow from the emergency lending facility, compared with 4,952 at the end of 2022, according to the Fed data.
Full Story: Reuters (4/12) 
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PLI News
Lawyers in many practice areas will run into situations where a client's diminished capacity is an issue
On April 19, PLI's live webcast of Serving Clients With Diminished Capacity: Ethics Issues in Legal Services and Pro Bono Practice 2024 will address the challenges and ethical issues for pro bono and legal services lawyers that arise when representing individuals with diminished capacity, whether because of mental illness, substance abuse or other factors. The panel will explore ethical issues that lawyers must address and offer approaches and strategies that lawyers may consider in carrying out representation in these circumstances.
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Low-income clients in Calif. need your help to protect their rights to potentially life-saving public benefits
Many low-income clients have difficulty navigating the confusing and bureaucratic processes required to establish and maintain eligibility for public benefits. Without legal assistance and advocacy, large numbers of clients go without the benefits to which they are entitled, which can lead to unnecessary hunger and homelessness. Attorneys who work with low-income clients or pro bono attorneys interested in working on these types of cases can learn the basics of public benefits law in one day by streaming California Public Benefits: The Basics for Nonprofit and Pro Bono Advocacy 2024 on demand, anywhere, anytime.
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Supreme Court and Federal Court Watch
The US Supreme Court has ruled 7-2 that the Department of Veterans Affairs wrongly denied an Army veteran an opportunity to use his remaining Montgomery GI Bill benefits after exhausting his Post-9/11 GI Bill benefits. In another case, the justices held unanimously that the Fifth Amendment's takings clause allows a group of landowners to sue Texas in state court over flood damage to their properties after the completion of a highway project.
Full Story: Military Times (tiered subscription model) (4/16),  Bloomberg Law (4/16),  The Texas Tribune (4/16),  Bloomberg Law (4/16) 
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SCOTUS hears bribery, malicious prosecution arguments
(Jemal Countess/Getty Images)
The US Supreme Court on Monday heard arguments regarding the application of a federal anti-bribery law to officials' acceptance of gifts from parties helped by the officials' actions, with a majority of the justices appearing inclined not to affirm the conviction at the center of the case. The justices also heard arguments regarding which rule the judiciary should apply in cases involving malicious prosecution claims brought under the Fourth Amendment. Justice Clarence Thomas was not present for Monday's arguments but returned on Tuesday, and the court has given no explanation for his absence.
Full Story: Courthouse News Service (4/15),  The Times of Northwest Indiana (Munster) (4/15),  Bloomberg Law (4/16),  The Associated Press (4/16) 
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A US Supreme Court order on Monday temporarily lets Idaho enforce its law prohibiting gender-affirming care for minors while a challenge to the law moves forward, although the two plaintiffs are exempt from enforcement. A lower court had issued a universal injunction, leading several justices to express their stances on the use and extent of such injunctions.
Full Story: Howe on the Court (4/15),  The New York Times (4/15) 
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Professional and Business Development
Increase your confidence without being corrosive
(Thomas Barwick/Getty Images)
Leadership confidence is about improving yourself, but not on the backs of others. Confidence comes from within and is "an unshakeable sense of self, which requires consistent and continued dedication to your values, goals and personal self-worth," writes executive coach Joel Garfinkle, who offers five ways to build your confidence without throwing your weight around.
Full Story: SmartBrief/Leadership (4/15) 
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To have been able hold the line ... against a tide that's going to engulf us all in the end, for a few years, has been a source of gratification to me.
Robert MacNeil,
broadcast journalist, news anchor
1931-2024
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