Minnesota Bill Would Require Warrant Before Obtaining Personal Information

A proposed Minnesota bill would prohibit gathering personal information without a warrant. If HF3173 becomes law, all government entities in the state will be required to have a judge’s search warrant “before obtaining personal identifying information on an individual” regardless of any order or protest by national authority. Minnesota Rep. John Lesch introduced the bill…

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Wal-Mart sues Visa for $5 billion over card swipe fees

“Wal-Mart Stores Inc this week sued Visa Inc for $5 billion, accusing the credit and debit card network of excessively high card swipe fees, several months after the retailer opted out of a class action settlement between merchants and Visa and MasterCard Inc. In December, a federal judge in Brooklyn, N.Y., approved a $5.7 billion class action settlement between merchants and Visa and MasterCard despite the objections of thousands of retailers that complained it was inadequate. Wal-Mart, Amazon.com Inc, and Target Corp were among those opting out of the monetary components of the settlement to have the freedom to seek damages on their own.” Continue reading

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Cyprus abolishes maximum daily cash withdrawal limits

“In a decree issued by the finance ministry, the 300 euro limit per person per day was scrapped, along with restrictions on breaking fixed-interest time deposits prior to maturity. The decree also allowed, under conditions, individuals to open bank accounts in other credit institutions. Restrictions remain on moving money abroad. Cypriot officials have previously said they anticipate that all controls could be fully lifted by the end of 2014. Cyprus was forced to wind down a major bank and convert large deposits in a second to recapitalise it in order to qualify for aid from the International Monetary Fund and the European Commission.” Continue reading

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Putin spokesman: S&P’s downgrade of Russia’s rating was directive

“Russian President Vladimir Putin’s spokesman Dmitry Peskov has said the downgrade of Russia’s rating outlook by the Standard & Poor’s ratings agency was due to a directive rather than objective circumstances. The downgrade decision ‘was clearly directive, not objective,’ Peskov told journalists Friday, adding that such forecasts reduce the degree of credibility of such agencies. On March 20, S&P said it revised its outlook on the Russian Federation to negative from stable. Fitch Ratings on Thursday revised the outlook on Russia’s long-term foreign and local currency Issuer Default Ratings (IDR) to negative from stable and affirmed the IDRs at ‘BBB’.” Continue reading

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Tennessee Hemp Legislation Passes House Committee

A bill introduced in the Tennessee state house to legalize hemp farming and production passed through the Finance, Ways & Means Committee on Tuesday. House Bill 2445 (HB2445) was introduced on Feb. 5 by Rep. Jeremy Faison (R-Colby). The bill allows for a state-regulated market to develop in Tennessee that would essentially nullify the decades-long…

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