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BG&A Files Comments on the Volkswagen Partial Consent Decree’s ZEV Related Provisions

BG&A submitted comments on the Department of Justice’s proposed partial consent decree with Volkswagen, requiring VW to make $1.2 billion in investments to support “Zero Emission Vehicles” (“ZEVs”) powered by electricity. BG&A argues that as a threshold matter, the court lacks jurisdiction to approve the ZEV-related provisions because they do not restrain future violations, as required by law. Second, BG&A argues that the ZEV-related provisions violate the Miscellaneous Receipts Act,…

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C. Boyden Gray Testifies Before the House on RMBS Settlements and Congress’ Power of the Purse

Former White House Counsel C. Boyden Gray testified Thursday before the Subcommittee on Oversight and Investigations of the House Committee on Financial Services, regarding Congress’ power of the purse. Recent Justice Department mortgage settlements related to banks’  conduct during the financial crisis with respect to residential mortgage-backed securities provided the backdrop for the hearing. Several of those settlements, among other things, direct banks to make payments…

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