- Big news: U.S. Department of Justice changes sides in Lucia v. SEC, challenge to constitutionality of SEC use of administrative law judges [Thaya Brook Knight, Cato; Knight and Ilya Shapiro in August; Kevin Daley, Daily Caller]
- Cyan v. Beaver County Employees Retirement Fund, oral argument Nov. 28: SCOTUS considers limits on securities class actions in state courts [Washington Legal Foundation]
- GAO: 2013 financial-agency guidance on leveraged lending was in effect a rulemaking, but wasn’t submitted to Congress as required. Time for review [Michelle Price, Davide Scigliuzzo, Reuters]
- Missed, from last March: shareholder class action lawyers suing Sprint sought to charge for 6,905 hours of work by (as it turned out) disbarred attorney [Joe Palazzolo and Sara Randazzo, WSJ; Doug Austin, eDiscovery Daily Blog]
- Joseph Stiglitz would like to outlaw Bitcoin [Jim Epstein, Reason]
- Bad idea watch: “Chicago Council Considers Banning Cashless Stores” [Charles Blain, Market Urbanism Report]
Banking and finance roundup is a post from Overlawyered - Chronicling the high cost of our legal system