WASHINGTON, D.C.— Stephen W. Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement announcing the release of a special report recapping the U.S. Supreme Court’s 2020-2021 session and highlighting the impact the Court has on the economic security of all Americans even as the Court itself become the focus of possible reform:
“Though they often draw less attention than the headline-grabbing cases dealing with abortion, immigration, gun rights, and voting rights, the cases on the Supreme Court’s docket addressing financial regulation and Americans’ economic well-being are critically important. Our new report reviews decisions from the Court’s last term from a financial and economic perspective and reminds readers of the enormous impact the judicial branch exerts on the bank balance and financial security of every American.
“We focus on cases involving the enforcement powers of financial regulators, requirements governing securities fraud class actions, the validity of bailout measures necessitated by the 2008 financial crisis, and the doctrine of standing, which determines who even gets to set foot in a federal court to plead their case.
“The unique challenges of the last year have afforded Americans new and unprecedented opportunities to see the nation’s highest court at work—in real-time. The transparency of the Court, its operations, and its makeup are just some of the issues we explore as the “Presidential Commission on the Supreme Court” commences a series of hearings to examine a wide range of questions involving the size of the Court, the justices’ tenures, and the way the Court handles its “shadow docket.”
“We also look ahead to a few of the key cases that the Court will consider when its next term commences a few short weeks from now in October. This report is a must-read for close observers of the federal judiciary’s impact on the nation’s financial markets and how they affect Wall Street as well as Main Street.”
Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies – including many in finance – to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.com.