Due to the usage of mobile payment systems increasing, there is a need for increased regulation to prevent anti-competitive behavior. Throughout history, consumers have relied on some form of payment system to purchase the goods or services they want or need. From bartering to mobile payment platforms, there is one consistent theme regarding the evolution of payments, that consumers prefer convenience. Generally, mobile payments are defined as the use of a mobile device – commonly, but not exclusively, a smartphone or tablet computer – to initiate a transfer of funds to people or businesses. (Jeffrey M. Kopchik, FDIC). The use of mobile payments continues to rise globally as consumers are increasingly capable of purchasing goods and services with apps such as Apple Pay, Google Wallet, PayPal, and more. United States (“U.S.”) mobile sales are expected to grow from roughly 40 percent of e-commerce this year to 53.9 percent in 2021. (J. Clement, Statista). As use continues to grow, regulators must make a choice as to whether to actively regulate the use of mobile payments to increase competition for the benefit of consumers or allow the free market to reign.
Read MoreAs the COVID-19 pandemic reached the U.S. in early March, millions of American workers were furloughed or laid off, leaving many without a reliable income. (Kathryn Vasel, CNN Business). Unemployment in the U.S. rose to 17.8 million in June 2020, an almost 8% increase since February. (The Employment Situation, U.S. Dept. of Labor). Economists estimate unemployment could reach 32.1% in the second quarter of 2020, surpassing the Great Depression’s 24.9% peak. (Chris Morris, Fortune). Despite thousands of American workers struggling to pay their bills, Chief Executive Officers (“CEOs”) remain largely untouched. (Anders Melin, Bloomberg Law).
Read MoreFollowing years of negotiations and various roadblocks, the Sprint and T-Mobile merger cleared its last big hurdle in federal court last month. (Laurel Wamsley, NPR) The “mega-merger” was announced in April 2018 but faced immediate backlash. The attorney generals of New York, California, the District of Columbia, and ten other states protested the potential merger as an anti-competitive practice. (Laurel Wamsley, NPR) The states argued the reduction of carriers in the telecom market creates less market competition, limits fair and free choice for consumers, and harms workers in this industry. (Id.)
Read MoreTraditional law firms are synonymous with mountains of paperwork. TV shows and movies regularly depict lawyers behind their paper-filled desk in a room that is full of file cabinets. And what can viewers assume is in the cabinets? That’s right, more paper. This is one of the few aspects of law that Hollywood accurately represents: the legal community uses a lot of paper. However, advances in blockchain technology are permeating legal atmospheres and reducing the high demand for paper. This emerging technology is continually increasing the efficiency in legal proceedings. (Frost, Bloomberg)
Read MoreJPMorgan's attempt to gain 100% control of its Chinese securities company will most likely be successful as China recently agreed to open its economy to more foreign investment. In January of this year, the United States and China signed a trade agreement ("the "Trade Agreement"), which eased a trade war between the two countries. (Jacob Pramuk, CNBC) The Trade Deal requires China to abide by certain commitments, which include opening its foreign market. (Bloomberg News) China is expected to eliminate its foreign equity limits, which will allow US-owned services to participate in the securities market as full owners of firms as opposed to partial owners. Id. JPMorgan's history in China – and China's willingness to open its economy – makes JPMorgan’s plan to fully own its venture a strong possibility.
Read MoreOn December 18, 2019, Barstool Sports, Inc. (“Barstool”) reached an informal settlement with the National Labor Relations Board (“NLRB”) that calls for the deletion of tweets and removal of other anti-union material created by the company. (Settlement Agreement, Case 31-CA-246638). This settlement comes just four months after Barstool’s co-founder David Portnoy (“Portnoy”) drew criticism for posting anti-union tweets on behalf of the company.
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