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Smiley V. Citibank
''Smiley v. Citibank'', 517 U.S. 735 (1996), is a U.S. Supreme Court decision upholding a regulation of the Comptroller of Currency which included credit card late fees and other penalties within the definition of interest and thus prevented individual states from limiting them when charged by nationally-chartered banks. Justice Antonin Scalia wrote for a unanimous court that the regulation was reasonable enough under the Court's own ''Chevron'' standard for the justices to defer to the Comptroller. The decision, which had begun as a class action in California, was seen as a victory for banks and credit-card issuers, who could mostly charge late fees as they pleased. For that same reason consumer advocates were displeased, warning that late fees could rise to previously unseen levels. They did, and one of the Citibank attorneys has expressed regret for his involvement. The case Background In its 1978 '' Marquette Bank'' decision, the court had unanimously held that the National ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Court Of California
The Supreme Court of California is the highest and final court of appeals in the courts of the U.S. state of California. It is headquartered in San Francisco at the Earl Warren Building, but it regularly holds sessions in Los Angeles and Sacramento. Its decisions are binding on all other California state courts. Since 1850, the court has issued many influential decisions in a variety of areas including torts, property, civil and constitutional rights, and criminal law. Composition Under the original 1849 California Constitution, the Court started with a chief justice and two associate justices. The Court was expanded to five justices in 1862. Under the current 1879 constitution, the Court expanded to six associate justices and one chief justice, for the current total of seven. The justices are appointed by the Governor of California and are subject to retention elections. According to the California Constitution, to be considered for appointment, as with any California ju ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interest Rate
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited, or borrowed. The annual interest rate is the rate over a period of one year. Other interest rates apply over different periods, such as a month or a day, but they are usually annualized. The interest rate has been characterized as "an index of the preference . . . for a dollar of present ncomeover a dollar of future income." The borrower wants, or needs, to have money sooner rather than later, and is willing to pay a fee—the interest rate—for that privilege. Influencing factors Interest rates vary according to: * the government's directives to the central bank to accomplish the government's goals * the currency of the principal sum lent or borrowed * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Superior Courts Of California
Superior courts in California are the state trial courts with general jurisdiction to hear and decide any civil or criminal action which is not specially designated to be heard in some other court or before a governmental agency. As mandated by the California Constitution, there is a superior court in each of the 58 counties in California. The superior courts also have appellate divisions (superior court judges sitting as appellate judges) which hear appeals from decisions in cases previously heard by inferior courts. Organization The superior courts are the lowest level of state courts in California holding general jurisdiction on civil and criminal matters. Above them are the six California courts of appeal, each with appellate jurisdiction over the superior courts within their districts, and the Supreme Court of California. As of 2007, the superior courts of California consisted of over 1,500 judges, and make up the largest part of California’s judicial system, which is in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Week
''Bloomberg Businessweek'', previously known as ''BusinessWeek'', is an American weekly business magazine published fifty times a year. Since 2009, the magazine is owned by New York City-based Bloomberg L.P. The magazine debuted in New York City in September 1929. Bloomberg Businessweek business magazines are located in the Bloomberg Tower, 731 Lexington Avenue, Manhattan in New York City and market magazines are located in the Citigroup Center, 153 East 53rd Street between Lexington and Third Avenue, Manhattan in New York City. History ''Businessweek'' was first published based in New York City in September 1929, weeks before the stock market crash of 1929. The magazine provided information and opinions on what was happening in the business world at the time. Early sections of the magazine included marketing, labor, finance, management and Washington Outlook, which made ''Businessweek'' one of the first publications to cover national political issues that directly impacted the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subsidiary
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a same management being substantially controlled by same entity/group are called sister companies. The subsidiary can be a company (usually with limited liability) and may be a government- or state-owned enterprise. They are a common feature of modern business life, and most multinational corporations organize their operations in this way. Examples of holding companies are Berkshire Hathaway, Jefferies Financial Group, The Walt Disney Company, Warner Bros. Discovery, or Citigroup; as well as more focused companies such as IBM, Xerox, and Microsoft. These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Details Subsidiaries are separate, distinct legal entities f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California
California is a U.S. state, state in the Western United States, located along the West Coast of the United States, Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the List of states and territories of the United States by population, most populous U.S. state and the List of U.S. states and territories by area, 3rd largest by area. It is also the most populated Administrative division, subnational entity in North America and the 34th most populous in the world. The Greater Los Angeles area and the San Francisco Bay Area are the nation's second and fifth most populous Statistical area (United States), urban regions respectively, with the former having more than 18.7million residents and the latter having over 9.6million. Sacramento, California, Sacramento is the state's capital, while Los Angeles is the List of largest California cities by population, most populous city in the state and the List of United States cities by population, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pennsylvania
Pennsylvania (; ( Pennsylvania Dutch: )), officially the Commonwealth of Pennsylvania, is a state spanning the Mid-Atlantic, Northeastern, Appalachian, and Great Lakes regions of the United States. It borders Delaware to its southeast, Maryland to its south, West Virginia to its southwest, Ohio to its west, Lake Erie and the Canadian province of Ontario to its northwest, New York to its north, and the Delaware River and New Jersey to its east. Pennsylvania is the fifth-most populous state in the nation with over 13 million residents as of 2020. It is the 33rd-largest state by area and ranks ninth among all states in population density. The southeastern Delaware Valley metropolitan area comprises and surrounds Philadelphia, the state's largest and nation's sixth most populous city. Another 2.37 million reside in Greater Pittsburgh in the southwest, centered around Pittsburgh, the state's second-largest and Western Pennsylvania's largest city. The state's su ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of The United States
The United States is a highly developed mixed-market economy and has the world's largest nominal GDP and net wealth. It has the second-largest by purchasing power parity (PPP) behind China. It has the world's seventh-highest per capita GDP (nominal) and the eighth-highest per capita GDP (PPP) as of 2022. US share of Global economy is 15.78% in PPP terms in 2022. The United States has the most technologically powerful and innovative economy in the world. Its firms are at or near the forefront in technological advances, especially in artificial intelligence, computers, pharmaceuticals, and medical, aerospace, and military equipment. The U.S. dollar is the currency of record most used in international transactions and is the world's foremost reserve currency, backed by the nation’s massive economy, stable government, extensive natural resources, highly advanced military, its role as the reference standard for the petrodollar system, and its linked eurodollar and la ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bloomberg L
Bloomberg may refer to: People * Daniel J. Bloomberg (1905–1984), audio engineer * Georgina Bloomberg (born 1983), professional equestrian * Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician and mayor of New York City (2002–2013) * Ramon Bloomberg (born 1972), American artist and film director Other uses * Bloomberg L.P., financial news and media company founded by Michael Bloomberg ** Bloomberg News, a news agency ** ''Bloomberg Businessweek'', weekly business magazine and website ** ''Bloomberg Markets,'' a monthly financial magazine ** Bloomberg Radio, a business radio network ** Bloomberg Television, a business news channel ***Bloomberg TV Canada ***Bloomberg TV Philippines ***Bloomberg TV Malaysia ** Bloomberg Terminal, desktop terminal and software widely used in the financial industry ** Bloomberg Data, API product using sftp or web service protocols to retrieve market data ** Bloomberg Government, online news service c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balance (accounting)
In banking and accounting, the balance is the amount of money owed (or due) on an account. In bookkeeping, “balance” is the difference between the sum of debit entries and the sum of credit entries entered into an account during a financial period. When total debits exceed total credits, the account indicates a debit balance. The opposite is true when the total credit exceeds total debits, the account indicates a credit balance. If the debit/credit totals are equal, the balances are considered zeroed out. In an accounting period, "balance" reflects the net value of assets and liabilities to better understand balance in the accounting equation. Balancing the books refers to the primary balance sheet equation of: : Assets = liabilities + owner's equity (capital) The first "balancing" of books, or the balance sheet financial statement in accounting is to check iterations (trial balance A trial balance is a list of all the general ledger accounts (both revenue and capital) co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Revolving Credit
Revolving credit is a type of credit that does not have a fixed number of payments, in contrast to installment credit. Credit cards are an example of revolving credit used by consumers. Corporate revolving credit facilities are typically used to provide liquidity for a company's day-to-day operations. They were first introduced by the Strawbridge and Clothier Department Store. It is an arrangement which allows for the loan amount to be withdrawn, repaid, and redrawn again in any manner and any number of times, until the arrangement expires. Credit card loans and overdrafts are revolving loans, also called evergreen loan. Typical characteristics * The borrower may use or withdraw funds up to a pre-approved credit limit. * The amount of available credit decreases and increases as funds are borrowed and then repaid. * The credit may be used repeatedly. * The borrower makes payments based only on the amount he or she has actually used or withdrawn, plus interest. * The borrower may ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bill Janklow
William John Janklow (September 13, 1939January 12, 2012) was an American lawyer and politician and member of the Republican Party who holds the record for the longest tenure as Governor of South Dakota: sixteen years in office. Janklow had the third-longest gubernatorial tenure in post-Constitutional U.S. history at 5,851 days. Janklow served as the 25th Attorney General of South Dakota from 1975 to 1979 before serving as the state's 27th Governor from 1979 to 1987 and then the 30th Governor from 1995 to 2003. Janklow was then elected to the United States House of Representatives, where he served for a little more than a year. He resigned in 2004 after being convicted of manslaughter for his culpability in a fatal automobile crash. Early life, education, and military service Janklow was born in Chicago, Illinois. When Janklow was 10 years old his father died of a heart attack while working as a prosecutor at the Nuremberg Trials in Germany. His mother moved the family back to t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
