Legal

NYBA Wins Challenge to New York City Law

The New York Bankers Association on Friday won its legal challenge to New York City’s Responsible Banking Act, with a federal judge striking down the city ordinance as unconstitutional in its attempt to preempt state and federal banking laws.

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SEC Adopts CEO Pay Ratio Disclosure Rule

By a 3-2 vote, the Securities and Exchange Commission today approved a final rule requiring public companies to disclose the ratio of the annual compensation of the CEO to the median of the annual compensation of the company’s employees.

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