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☆ Bank of America's guide to the election and stocks that win under Trump or Harris
▼ + stars: | 2024-10-22 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +7 min

Here are some of the ways Bank of America analysts think the upcoming election results could affect the stock market. Harris presidency, split government A victory for Democratic candidate Kamala Harris in the White House, plus a Republican-controlled Congress, could be "the best outcome" for online media companies, according to Bank of America analyst Justin Post. He noted that Harris is likely to enforce a potential ban on TikTok — which could boost Meta Platforms and Snapchat . Trump president, split government A win for Republican candidate Donald Trump and a split government would be the best-case scenario for bank stocks, per analyst Ebrahim Poonawala. On the other hand, a Trump presidency would be viewed positively by gig-economy companies, including Uber and Lyft, according to analyst Post.

Persons: –, Harris, Kamala Harris, Justin Post, Lorraine Hutchinson, Donald Trump's, —, Athletica, Joanna Gajuk, Gajuk, Jessica Reif Ehrlich, Ehrlich, Jason Kupferberg, Kupferberg, Dick Durbin's, Donald Trump, Ebrahim Poonawala, Poonawala, Republicans —, Dimple, Trump, Uber, Craig Siegenthaler, Siegenthaler, Rafe Jadrosich, Trump's, — CNBC's Michael Bloom Organizations: White, Bank of America, of America, Democratic, Republican, Democrat, Department of Justice, Eagle Outfitters, Urban Outfitters ., Health, Tenet Healthcare, Universal Health Services, Democrats, Agilon, Humana, Big Tech, House, Trump, Republicans, Oscar Health, Centene, GOP, Securities, Exchange, Entertainment, Packaging Corporation of America, American Eagle Outfitters Locations: Hutchinson, U.S, China, Washington

☆ Clarence Thomas took more undisclosed trips paid for by GOP megadonor Harlan Crow, Senate committee chair says
▼ + stars: | 2024-06-13 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

Supreme Court Justice Clarence Thomas has omitted at least three private jet trips gifted by Republican megadonor Harlan Crow from his annual financial disclosures, a top Senate Democrat alleged Thursday. Those trips included private flights in 2017, 2019 and 2021 that Thomas failed to disclose, according to Judiciary Committee Chairman Dick Durbin of Illinois. The Senate probe of the Supreme Court "makes it crystal clear that the highest court needs an enforceable code of conduct, because its members continue to choose not to meet the moment," Durbin said in a statement. Spokespeople for Thomas and the Supreme Court did not immediately respond to CNBC's requests for comment. Thomas said in his latest disclosure that those two trips were "inadvertently omitted" at the time.

Persons: Clarence Thomas, Harlan Crow, Thomas, Dick Durbin of, Crow, Durbin, Spokespeople, ProPublica, Elliot Berke Organizations: Republican, Dick Durbin of Illinois, CNBC, Washington , D.C, D.C, Senate Locations: St, Louis , Missouri, Kalispell , Montana, Dallas , Texas, Washington ,, Savannah , Georgia, San Jose , California, Bali, Indonesia, Monte Rio , California, Crow

☆ Senate Democrats subpoena Harlan Crow, escalating probe of GOP megadonor's relationship with Justice Clarence Thomas
▼ + stars: | 2023-11-30 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Senate Democrats pushed forward on a subpoena of Harlan Crow. The GOP megadonor has been at the center of ethics concerns regarding Justice Clarence Thomas. Republican senators previously filed 177 amendments to the subpoena authorization, including a subpoena of Jeffrey Epstein's estate for his private flight logs. Crow has been in the news for months related to his friendship to Justice Clarence Thomas. ProPublica uncovered numerous trips and gifts Crow lavished on the justice and his family, which Thomas often did not list on his financial disclosure.

Persons: Harlan Crow, Clarence Thomas, —, Leonard Leo, Dick Durbin, Jeffrey Epstein's, Sen, John Cornyn, Durbin, Lindsey Graham, Graham, Crow, Leo, ProPublica, Crow lavished, Thomas, Samuel Alito, Paul Singer, Alito Organizations: GOP, Service, Durbin, United States Senate, Texas Republican, Republican, Supreme Court, Courthouse News Locations: Texas

☆ Senate Judiciary Committee chair says the Supreme Court's new code of conduct lacking any enforcement mechanism 'falls short'
▼ + stars: | 2023-11-14 | by ( Madison Hall | ) www.businessinsider.com time to read: +2 min

On Monday afternoon, the Supreme Court announced each of its justices had signed a code of conduct. Sen. Dick Durbin, the Senate Judiciary Committee Chairman, said it "falls short." AdvertisementThe chair of the Senate Judiciary Committee said the Supreme Court's newly signed code of conduct — which lacks any enforcement mechanisms — "falls short of what we could and should expect." "Its new code of conduct is a step, but it falls short of what we could and should expect from a code of conduct." "No provision in the Constitution gives them the authority to regulate the Supreme Court — period," Alito said in an interview with the Wall Street Journal in July.

Persons: Sen, Dick Durbin, Durbin, —, Clarence Thomas, Sonia Sotomayor, Samuel Alito, Alito Organizations: Supreme, Service, Democratic, Wall Street

WASHINGTON (AP) — The Supreme Court on Monday adopted its first code of ethics, in the face of sustained criticism over undisclosed trips and gifts from wealthy benefactors to some justices. The issue has vexed the court for several months, over a series of stories questioning the ethical practices of the justices. The committee has been investigating the court's ethics and passed an ethics code, though all 10 Republicans on the panel voted against it. The push for an ethics code was jump-started by a series of stories by the investigative news site ProPublica detailing the relationship between Crow and Thomas. ___Follow the AP's coverage of the U.S. Supreme Court at https://apnews.com/hub/us-supreme-court.

Persons: “, Clarence Thomas, Harlan Crow, Koch, Samuel Alito, Sonia Sotomayor, Sen, Dick Durbin, Crow, Leonard Leo, Thomas, ProPublica, Leo, Sotomayor, Roberts, Durbin, ” Organizations: WASHINGTON, Gallup, Democratic, Republicans, Republican, GOP, Associated Press, U.S, Supreme Locations: Thomas, Georgia, United States

☆ Influential Democrat calls Israel's relentless strikes on Gaza 'unacceptable and unsustainable'
▼ + stars: | 2023-11-02 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Chris Murphy and Dick Durbin's comments come after an Israeli airstrike hit a Gaza refugee camp. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementThe lawmakers' comments appear to be prompted in part by a Tuesday airstrike launched by Israel's military that devastated a refugee camp in Gaza. The Israel Defense Forces (IDF) claimed credit for the strike on the Jabaliya refugee camp in northern Gaza. In his Thursday statement, Murphy reaffirmed Israel's "right and obligation" to defend itself from terror attacks.

Persons: Israel, Chris Murphy, Dick Durbin's, Durbin, —, Sen, Murphy, Israel — “, ”, F3RV5c0hrJ, Andrew Desiderio, Dick Durbin of, Joe Biden, Israel's Organizations: Service, Connecticut Democrat, Foreign Relations, Dick Durbin of Illinois, Senate, Tuesday, Israel Defense Forces, IDF, Hamas Locations: Gaza, Israel, Connecticut

☆ Major US airlines are on the warpath with Congress over a bill they say would gut flyer miles
▼ + stars: | 2023-10-26 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

They say it will cut revenues of major payment networks, making them pull out of rewards programs. AdvertisementAdvertisementUS airlines are attacking a new bill in Congress that seeks to lower credit card swipe fees, saying it would effectively end most flyer miles programs. AdvertisementAdvertisementIn a statement to Insider, Southwest Airlines said the bill is a "bad policy" that would "undermine, if not completely end, credit card rewards programs." Notably, losing credit card rewards programs could create troubles for airlines that go beyond irate customers missing their free miles. "Their banks and airlines still offer points and miles programs," Durbin told Insider in a statement.

Persons: Sen, Dick Durbin of, Durbin, Ed Bastian, Bloomberg, Scott Kirby, they're, it's, Lance Gooden Organizations: Visa, Mastercard, Morning, Dick Durbin of Illinois, Air, Airlines for, Southwest Airlines, American Airlines, United, European Union, GOP, Democratic, Republican Locations: Airlines for America, European, Texas

☆ A new bill in Congress could wipe out the credit card rewards programs Americans rely on for their vacations, Southwest says
▼ + stars: | 2023-10-26 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Southwest Airlines said a new bill in Congress could "completely end" loyalty rewards programs. It's taking aim at the Credit Card Competition Act, which seeks to lower credit card fees. "Our customers and employees use the Southwest Rapid Rewards Credit Card to earn points that can be redeemed for Southwest flights, car rentals, gift cards, and more." "This legislation is bad policy and would undermine, if not completely end, credit card rewards programs that millions of Americans rely on for their vacations or personal travel needs," Southwest added. The Credit Card Competition Act was originally introduced to the previous Congress in 2022, but never came to a vote.

Persons: Sen, Dick Durbin of, Durbin, Scott Kirby, Lance Gooden Organizations: Southwest Airlines, Credit, Airlines, Dick Durbin of Illinois, Visa, Mastercard, Rapid, Southwest, United Airlines, Democratic, Republican, GOP, Texas Locations: Airlines

☆ A new bill in Congress is going to 'kill' card rewards programs, says United CEO
▼ + stars: | 2023-10-25 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

United CEO Scott Kirby says a new bill in Congress is putting miles programs on the chopping block. The Credit Card Competition Act, proposed by Sen. Dick Durbin, seeks to lower card swipe fees. "This would kill rewards programs," United CEO Scott Kirby said in an October 18 earnings call. It will kill debit card rewards programs when it happens, and I think it's bad policy." The Credit Card Competition Act, proposed by Sen. Dick Durbin of Illinois, seeks to end what Durbin calls a "Visa-Mastercard duopoly" over credit card transactions.

Persons: Scott Kirby, Sen, Dick Durbin, Kirby, Dick Durbin of, Durbin, it's, Ed Bastian, Durbin's Organizations: Visa, Mastercard, Morning, United, Dick Durbin of Illinois, Republican, Democrat, House, Air, Bloomberg, European Locations: European Union

☆ US Senate Democrats pursue Supreme Court ethics legislation
▼ + stars: | 2023-07-19 | by ( John Kruzel | ) www.reuters.com time to read: +5 min

Unlike other members of the federal judiciary, the Supreme Court's nine life-tenured justices have no binding ethics code of conduct. "The Supreme Court does a good job of that on their own," Republican Senator Mike Lee of Utah, who sits on the Senate Judiciary Committee, told Reuters, referring to ethics rules. Senator John Kennedy, another Republican panel member, questioned whether lawmakers possess the power to impose ethics standards on the court. The Judiciary Committee held a hearing on Supreme Court ethics concerns in May, but conservative Chief Justice John Roberts rebuffed Durbin's invitation to testify, citing "the importance of preserving judicial independence." That code, binding to lower federal court judges but not the justices, requires judges to avoid even the "appearance of impropriety."

Persons: Sheldon Whitehouse, Whitehouse, Dick Durbin, Clarence Thomas, Harlan Crow, ProPublica, Samuel Alito, Neil Gorsuch, Mike Lee of, John Kennedy, I'm, Kennedy, John Roberts, Roberts, they're, John Kruzel, Will Dunham Organizations: Democrats, U.S, Democratic, Republican, Representatives, Dallas, Politico, Reuters, Republicans, Thomson Locations: Alaska, Colorado, Mike Lee of Utah

☆ Dick Durbin slams Roberts for failing to make sure SCOTUS doesn't have the 'lowest ethical standards'
▼ + stars: | 2023-07-06 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Democratic Sen. Dick Durbin slammed Chief Justice John Roberts for failing to impose stronger ethical requirements. Durbin, who chairs the powerful Judiciary Committee, vowed his panel will move forward on proposals. The Judiciary Committee, Durbin added, will continue with its previously announced plans to consider legislation that would impose greater ethical requirements on the high court after lawmakers return to Washington following their July 4th holiday recess. "The highest court in the land should not have the lowest ethical standards." Critics of the court seized on the reporting about ethical concerns also a way to further question its legitimacy.

Persons: Democratic Sen, Dick Durbin, John Roberts, Durbin, —, Clarence Thomas, Samuel Alito, Roberts, Joe Biden's, Neil Gorsuch, ProPublica, Thomas, Harlan Crow, Crow, Alito, Paul Singer, Singer Organizations: Democratic, Committee, Service, Republicans, GOP Locations: Washington

☆ AOC urges Congress to consider 'subpoenas' if Chief Justice Roberts won't testify about SCOTUS gift scandal
▼ + stars: | 2023-07-03 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Rep. Alexandria Ocasio-Cortez floated a possible subpoena for Chief Justice John Roberts. Roberts has declined to testify before the Senate about ethical issues surrounding the court. "And so I believe that ... if Chief John Roberts will not come before Congress for an investigation voluntarily, I believe that we should be considering subpoenas," Ocasio-Cortez told CNN's Dana Bash on "State of the Nation" on Sunday. "This SCOTUS' corruption undercuts its own legitimacy by putting its rulings up for sale," Ocasio-Cortez wrote on Twitter after the decision. While Republicans control the House, Ocasio-Cortez pointed out that Senate Democrats are investigating the numerous reports about unreported gifts to the justices through the powerful Senate Judiciary Committee.

Persons: Alexandria Ocasio, Cortez, John Roberts, Roberts, —, CNN's Dana Bash, Samuel Alito's, Paul Singer, Singer, Alito, Dick Durbin's Organizations: Service, Privacy, Democratic Rep, New York Democrat, Biden, Manhattan Institute, . Nebraska, Twitter Locations: Alexandria, . Nebraska, Alaska, ., Ocasio, United States

☆ Democratic lawmakers seek Supreme Court investigation into Clarence Thomas
▼ + stars: | 2023-06-27 | by ( Jonathan Allen | ) www.cnbc.com time to read: +4 min

Associate Justice Clarence Thomas, left, talks to Chief Justice John Roberts during the formal group photograph at the Supreme Court in Washington, DC, US, on Friday, Oct. 7, 2022. A group of 18 House Democrats wrote a letter to Chief Justice John Roberts Tuesday urging him to establish an independent investigative arm within the Supreme Court — and pressing for that office to probe Justice Clarence Thomas' relationship with a wealthy GOP donor. The Goldman letter recommends the establishment within the court of an "independent investigative body" that can provide transparency and accountability by probing "alleged ethical improprieties." After the Thomas story broke in April, Roberts declined Senate Judiciary Chairman Richard Durbin's request for him to appear before the panel to discuss Supreme Court ethics. Roberts is under no obligation to respond to the Goldman letter, much less create new institutions within the court.

Persons: Clarence Thomas, John Roberts, Dan Goldman, Roberts, ProPublica, Thomas, Harlan Crow's, Samuel Alito, Paul Singer, Neil Gorsuch, Greenberg Traurig, Goldman, Alito, Mitch McConnell, Justice Thomas, Richard Durbin's Organizations: Democrats, Rep, NBC, GOP, Politico, Democratic, Republican Locations: Washington , DC, Alaska, Ky

☆ Jane Roberts, who is married to Chief Justice John Roberts, made $10.3 million in commissions from elite law firms, whistleblower documents show
▼ + stars: | 2023-04-28 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +20 min

Jane Roberts was paid more than $10 million by a host of elite law firms, a whistleblower alleges. At least one of those firms argued a case before Chief Justice Roberts after paying his wife hundreds of thousands of dollars. And I realized that even the law firms who were Jane's clients had nowhere to go. Mark Jungers, another one of Jane Roberts' former colleagues, said that Jane was smart, talented, and good at her job. But whether that committee has the authority to discipline Thomas or any other Supreme Court Justice remains a matter of murky constitutional interpretation, to be ultimately decided by the Supreme Court itself.

U.S. Supreme Court Chief Justice John G. Roberts poses during a group portrait at the Supreme Court in Washington, U.S., October 7, 2022. The chairman of the Senate Judiciary Committee on Thursday invited Supreme Court Chief Justice John Roberts to testify next month before the panel about ethics reform of the court. Last week, the same news outlet reported that Thomas failed to disclose that Crow had purchased property from Thomas and his relatives, which included a house where Thomas' mother still lives. In his letter Thursday to Roberts, Durbin wrote, "Your last significant discussion of how Supreme Court Justices address ethical issues was presented in your 2011 Year-End Report on the Federal Judiciary." A Supreme Court spokeswoman did not immediately respond to CNBC when asked if Roberts would accept Durbin's invitation to appear before the committee.

☆ College students are drowning in textbook costs. There's a push in Congress to make them free.
▼ + stars: | 2023-03-01 | by ( Madison Hall | ) www.businessinsider.com time to read: +9 min

Some members of Congress have joined the movement to provide free textbooks to university students. The college textbook landscape, however, isn't a free market, as students must buy whichever course materials their professor selects for their class. As states across the country create their own grants for open textbooks, members of Congress have also begun to take notice. "We are helping cut the cost of attending college by supporting the creation and expansion of open college textbooks," Durbin told Insider in a statement. And while there's no timeline for the Affordable College Textbook Act to make it through Congress, federal legislators have granted $47 million in funds for open textbooks since 2018 as part of the Open Textbook Pilot Program.

☆ Merrick Garland's stonewalling about multiple investigations is annoying lawmakers on both sides of aisle ahead of his Capitol Hill visit
▼ + stars: | 2023-02-23 | by ( Warren Rojas | Mattathias Schwartz | ) www.businessinsider.com time to read: +4 min

Lawmakers on both sides of the aisle want Merrick Garland to debrief them about DOJ investigations. Garland is scheduled to join the Senate Judiciary Committee on March 1 for a general oversight hearing — his first of the 118th Congress. In early February, both Durbin and his Republican counterparts leading the House Judiciary Committee requested briefings about McGonigal. The Senate letter requested information from Garland and FBI Director Christopher Wray; the House letter was addressed to Wray but not Garland. "Everything is on the table," a staff member from House Judiciary told Insider.

The exact contours of the Democrats' majority is in flux after Senator Kyrsten Sinema switched her party affiliation from Democrat to independent. But either she caucuses with Democrats and gives the party a 51-49 majority or she does not, leaving Democrats with a 50-49 edge. But in a 50-50 Senate where Democrats and Republicans had an even number of seats on the Senate Judiciary Committee, several civil rights lawyers and nominees supported by progressive advocates stalled with deadlocked votes. And in a 50-50 Senate, occasionally Vice President Kamala Harris was needed to cast a tie-breaking vote. Assuming they are renominated, their path to confirmation could be smoothed, as the Judiciary Committee under Durbin's leadership will now have a majority of Democrats.

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