In the News Today - August 10, 2017

August 10, 2017

U.K. Court’s Reject MasterCard Class Action, U.S. Judges Could Learn From the Case: U.S. law firm Quinn Emmanuel wanted to sue MasterCard for 14 billion British pounds on behalf of roughly 70 percent of the U.K. population, which was supposedly overcharged over a 16-year period due to MasterCard’s interchange-fee policy. A U.K. court did the logical thing and rejected the case. For the commonsense reason that the plaintiff lawyers couldn’t possibly explain how much their individual clients had lost, let alone provide a reasonable method for calculating those losses. U.S. courts should take heed to this case, most notably the ascertainability factor considered by the U.K. courts. (Walden Consultants)

DOL To Postpone Parts Of Fiduciary Rule Until 2019: Yesterday, the U.S. Department of Labor told a federal judge that the agency is planning to delay parts of the controversial retirement saving regulation, with plans to implement now pushed to July of 2019. The move comes barely a month after the Labor Department sought additional public comments on when the rule’s provisions should go into effect and how they might be changed. (Law360)