June 2016 Posts

Jun
28
2016

The $160 Billion Bank Fee

Washington, DC, June 28, 2016-- Since the beginning of 2010, two dozen major U.S. and foreign-based banks have paid more than $160 billion in U.S. penalties to resolve a wide range of cases brought against them by the Justice Department and federal regulatory agencies. Bank of America alone accounts for $56 billion of the total and JPMorgan Chase another $28 billion. Fourteen banks have each accumulated penalty amounts (both fines and settlements) in excess of $1 billion, and five of those are in excess of $10 billion.

Jun
27
2016

Louisiana’s Notorious Industrial Tax Exemption Program Reformed

Exercising discretionary authority his predecessors always had, Louisiana Gov. John Bel Edwards last Friday issued an executive order reforming the most notorious property tax abatement program in the United States.