Brokers Fail To Split Suits Over Fed Pay Rule Change

Law360, New York (March 22, 2011, 5:52 PM EDT) -- A District of Columbia federal court refused Monday to reconsider its order consolidating a pair of suits filed against the Federal Reserve and Chairman Ben Bernanke over a pending rule that will bar brokerages from paying officers on commission.

On March 11, the U.S. District Court for the District of Columbia merged a suit brought by the National Association of Mortgage Brokers with a similar action brought by the National Association of Independent Housing Professionals Inc.

Three days later, NAMB asked for reconsideration of the order,...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

NATIONAL ASSOCIATION OF MORTGAGE BROKERS v. BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM et al


Case Number

1:11-cv-00506

Court

District Of Columbia

Nature of Suit

Other Statutory Actions

Judge

Beryl A. Howell

Date Filed

March 9, 2011

Law Firms

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.