A report released by the Federal Reserve suggests that regulation of electronic stored-value devices, such as mass-transit cards, will not change significantly

Article Abstract:

The Federal Reserve Systems's report on the impact of regulation of stored-value systems on their development suggests suggests that present regulation will not undergo much change. The regulatory dilemma is that although regulation might support consumer confidence in and enhance acceptance of new products, it might also distort developers' incentives to produce the best ones. These effects would be greater in a market for 'networked products.' The report cites the rapid progress of the technology and the many different types of stored-value systems.

Commercial Banks, Commercial Banking, Innovations, Consumer credit, Smart cards, Plastic transaction cards, Transaction cards

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Shareholder rights will be next battleground

Article Abstract:

The shareholder rights bylaw is poised to become the next major legal battleground in the market for corporate control. This law prevents target company boards of directors from using poison-pill defensive devices once an olutside bid for control has been made. When the SEC used Rule 14a-8 to start requiring corporations to include rights bylaw proposals in corporate proxies, this was an important legal victory for rights-bylaws.

Acquisitions and mergers, Stockholders

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