MuskogeePhoenix.com, Muskogee, OK

Oklahoma News

August 2, 2013

State to appeal ruling dismissing Dodd-Frank suit

OKLAHOMA CITY (AP) — Oklahoma Attorney General Scott Pruitt says an appeal is planned following a federal judge's decision to dismiss a lawsuit filed by Oklahoma and 10 other states that challenged the Dodd-Frank financial reform law.

The lawsuit was dismissed Friday by a federal judge in Washington, D.C., who ruled that states that filed it in June 2012 had not shown how they would be harmed by the government's new authority.

In a statement, Pruitt says he disagrees with the ruling. He says the law, adopted in 2010, gave federal agencies the power to decide the fate of the state's investments.

State attorneys general challenged a particular section of the act that gives singular power to the U.S. Treasury Secretary to liquidate banks with only 24 hours' notice and no notice for creditors.

 

1
Text Only
Oklahoma News
AP Video
US Ready to Slap New Sanctions on Russia Kerry: Not Worried About Israeli Criticism Boater Rescued From Edge of Kentucky Dam Girl Struck by Plane on Florida Beach Dies Rodents Rampant in Gardens Around Louvre House to Vote on Slimmed-down Bill for Border Looming Demand Could Undercut Flight Safety Raw: 2 Shells Hit Fuel Tank at Gaza Power Plant Raw: Massive Explosions From Airstrikes in Gaza Giant Ketchup Bottle Water Tower Up for Sale Easier Nuclear Construction Promises Fall Short Kerry: Humanitarian Cease-fire Efforts Continue Raw: Corruption Trial Begins for Former Va Gov. The Carbon Trap: US Exports Global Warming Traditional African Dishes Teach Healthy Eating
Poll

Should a federal judge have the power to strike down Oklahoma's ban on gay marriage?

Yes
No
     View Results
Featured Ads
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Stocks