The stock market is near record highs, but two big inflation reports are on deck. Taiwan Semi leads stocks near buy points. Tesla erased recent gains.
A federal judge in Texas on Friday blocked the Consumer Financial Protection Bureau's new rule for an $8 cap on credit card late fees, a victory for business and banking groups that said the regulator exceeded its authority. U.S. District Judge Mark Pittman in Fort Worth issued a preliminary injunction against the rule, which was scheduled to take effect on May 14. The injunction was urged by groups including the U.S. Chamber of Commerce and the American Bankers Association.
Block Communications, Inc., (BCI) a privately held diversified media holding company headquartered in Toledo, Ohio, issued a public statement acknowledging the filing of a lawsuit against the Company, and certain of its shareholders and directors, by Allan Block, the Company's Chief Executive Officer and the Chairman of its Board of Directors.
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