Starting May 1, 2021, Accessory Dwelling Units (“ADUs”) will be legalized in five pilot areas around the city of Chicago. Chicago faces a declining population, a slow homebuilding pace, and an affordable housing gap of approximately 116,000 units. These ADUs are intended to increase access to affordable housing, but the ordinance isn’t expected to make a large impact on Chicago’s affordable housing gap.
In the age of online consumerism, many companies utilize automatic renewal programs to deliver their products and services to customers on a recurring basis for a monthly or annual charge. Recently, autorenewal programs have seen an increase in consumer protection through legislation at both the state and federal level along with enforcement actions brought by private plaintiffs, state attorney generals, and the Federal Trade Commission (“FTC”). Organizations that utilize automatic renewal should be aware of the uptick in autorenewal program enforcement and look to strengthen and update their policies where appropriate.
In 1993, and on the heels of the landmark Article III standing case of Lujan v. Defenders of Wildlife, John G. Roberts, Jr. wrote a law review article entitled: “Article III Limits on Statutory Standing.” Twenty-eight years later and now the Chief Justice, Roberts again found himself wrestling over the bounds of the Article III Standing requirement as he presided over this issue in the class action context. Years after the Court decided Spokeo v. Robins in 2016 and Clapper v. Amnesty International in 2013, the Court revisited the matter and listened to oral arguments on March 30, 2021, in TransUnion v. Ramirez. The decision may have enormous consequences. While Acting U.S. Solicitor General Elizabeth Prelogar filed a “friend of the court” brief agreeing that standing exists, other briefs supporting TransUnion suggest that meritless class action lawsuits against corporate defendants from class members that aren’t injured will exponentially increase.
Chicago has a number of nicknames and “Derivatives Capital of the World” is one of them, as the city is home to CME Group and CBOE, two major U.S. exchange operators. The city risked this title in 2020 with the push for the LaSalle Street Tax, a financial transaction tax (“FTT”) that would impose a tax on trades made by Chicago exchanges. This tax was an attempt to fill the city’s billion dollar 2021 budget shortfall, but failed in large part because the evolution of trading has made these operators incredibly mobile. In a Chicago City Council meeting, Terry Duffy, CEO of CME Group, made it clear the imposition of the LaSalle Street Tax wouldn’t result in more revenue for the city, but a great deal of empty office space instead. For now, the LaSalle Street Tax is off the table in Chicago, but other governments, like New Jersey, are considering similar taxes. States considering FTTs ought to look at the pushback in Chicago and understand that mobility is the inevitable defense to such a tax.
Everyone seems to be talking about the controversial “Satan shoes” released by famous rapper Lil Nas X (“Nas”) in collaboration with MSCHF Product Studio, Inc. (“MSCHF”). The shoes are controversial for many reasons, including their Satanic imagery, allegedly containing a drop of human blood in the sole, their perceived endorsement by Nike, and the music video and hit rap song that Nas released in tandem. Though the song, video, and shoes have sparked a moral and ethical debate worldwide, attorneys are intrigued by the legal debate that arises regarding the various trademark claims that Nike brought against MSCHF in a lawsuit filed on March 29, 2021.
Timothy Higus Senior Editor Loyola University School of Law, JD 2021 Ah, the spring – the smell of rain, sights of blooming flowers, the sounds of birds chirping, and government-imposed standardized tests. School leaders, teachers, and even state superintendents are again asking the U.S. Department of Education (“ED”) to waive their obligation to take standardized …
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On March 25, 2021, Illinois Governor J.B. Pritzker vetoed HB 3360, which would have allowed plaintiffs to recover prejudgment interest, at a rate of nine percent, on all damages related to personal injuries or wrongful death. The governor believed this bill was too burdensome on hospitals and healthcare providers since most Illinois hospitals are self-insured, making them directly responsible for paying the costs of this legislation. However, the governor’s veto letter expressed a willingness to pass prejudgment interest legislation if problems with the current bill, including more robust protections for health care providers, were addressed. That same day, the Illinois House and Senate passed SB 72, which addressed some of the governor’s concerns.
Last week, the finance industry watched one of the biggest implosions of an investment firm since the 2008 financial crisis. Archegos Capital Management rocked the industry when it was forced to liquidate huge positions in blue-chip companies after some risky investment strategies went south. The financial instruments used in this risky investment strategy are called total return swaps. The Archegos meltdown has lead lawmakers and regulators to call for increased scrutiny of the swaps.
William Baker Associate Editor Loyola University Chicago School of Law, JD 2022 Illinoisans have good reason to be concerned about where their water comes from, as a report published by Chicago Tribune recently revealed that Illinois has more lead pipe infrastructure than any other state. The six-year study determined that eight of out ten …
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Though the idea of a plane crash or any other incident with air travel is extremely unsettling, only about one accident per 2.5 million flights is fatal. Additionally, plane crashes also have about a ninety-five percent survivability rate. The regulations behind aviation are designed to implement the highest safety standards in all aircraft to prevent injury from occurring. The Federal Aviation Administration (“FAA”) is an agency of the U.S. Department of Transportation (“DOT”) that manages commercial and general aviation flights with a mission to provide safe air travel. The FAA is a crucial part of what makes air travel safe.