Deputy Attorney General Rod Rosenstein today signaled that the Department of Justice is reviewing a policy announced under the Obama administration that sought to increase prosecutions of individuals in corporate wrongdoing cases.

A federal judge in Texas yesterday overturned the Obama administration’s final rule doubling the salary level used to determine whether employees are classified as exempt from overtime under the Fair Labor Standards Act.

Chief compliance officers find themselves caught between a rock and a hard place when reporting AML violations.

In a letter to House Judiciary Committee Chairman Bob Goodlatte (R-Va.) yesterday, a Department of Justice official formally confirmed that the agency has ended the controversial Operation Choke Point initiative, which under the Obama administration sought to curtail legal but politically disfavored businesses by working through bank regulators to pressure financial institutions to end customer relationships with those businesses.

The National Credit Union Administration, filed a reply brief yesterday in the ABA-initiated case challenging NCUA’s final rule to expand credit union fields of membership far beyond the limitations imposed by Congress.

Sen. Mark Warner (D-Va.) last week introduced an ABA-supported bipartisan bill clarifying that legally made bank loans may be resold and collected on by nonbank entities at the same interest rate.

A federal judge yesterday heard oral arguments in the lawsuit filed by ABA and Seattle-based Washington Federal seeking over $1.1 billion in damages resulting from the United States’ improper reduction in dividends paid to Federal Reserve member banks.

ABA filed a combined brief yesterday opposing NCUA’s cross-motion for summary judgment and reinforcing the association’s own motion for summary judgment in the lawsuit challenging NCUA’s final rule expanding credit union fields of membership.

In an op-ed for The Hill today, ABA President and CEO Rob Nichols argued that the Consumer Financial Protection Bureau’s recently finalized arbitration rule was actually anti-consumer -- “a regulatory windfall to trial lawyers at consumers’ expense.”

In advance of oral arguments scheduled for July 27, ABA and Washington Federal yesterday filed a reply brief supporting their motion for summary judgment in their legal challenge to the United States’ improper reduction in dividends paid to Federal Reserve member banks.