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The U.S. Supreme Court ruled 6-3 that the president can remove an FTC commissioner without cause. The decision overturned a 91-year-old precedent and expands presidential authority over independent agencies.
newrepublic.comThe U.S. Supreme Court on Monday overturned a 91-year-old precedent that had restricted presidential authority to remove officials from independent federal agencies. The 6-3 decision in Trump v. Slaughter held that President Trump acted within his powers when he terminated FTC commissioner Rebecca Slaughter without cause. Chief Justice John Roberts wrote the majority opinion.
Background on the Ruling The precedent known as Humphrey’s Executor had protected commissioners at agencies including the FTC, FCC, and SEC from removal except for cause. The Court’s ruling gives the president greater control over those agencies.
In a concurring opinion, Justice Neil Gorsuch cited FCC Chairman Brendan Carr’s public criticism of ABC late-night host Jimmy Kimmel as an example of agency reach. ” Gorsuch also noted that Carr had suggested “additional work…ahead” for the agency if broadcasters did not address certain on-air remarks.
The reference pointed to an episode last year that led to a brief suspension of Kimmel’s program.
The ruling affects agencies that oversee media, entertainment, technology, and financial markets. ABC is currently facing an FCC investigation into equal-opportunity rules and a separate review of its broadcast licenses. Gorsuch observed that the decision raises new questions about coordinated agency authority and may prompt further action by Congress or the courts.
These outlets didn't split into competing frames — coverage was uniform.
themandarin.com.auStrategy approved a Digital Credit Capital Framework on June 29 authorizing up to $1 billion each in preferred securities and Class A common stock repurchases. The company also raised its preferred stock dividend rate to 12 percent effective July 1.
EuronewsThe World Bank Group announced the opening of an office in Madrid on Monday. The new office will bring together its institutions in Spain for the first time and support private investment in emerging markets. Euronews reported the announcement and related statements.
americanbanker.comFundBank Group has rebranded as IRACE Digital and acquired Cayman Islands-based Tenet Bank. Former Zodia Custody CEO John Cronin was appointed global CEO as the firm expands into digital asset custody and related services.