Author: Jon Dunn
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Regulators withdraw climate-risk principles for large banks
On Oct. 9, the Federal Reserve and Federal Deposit Insurance Corporation (FDIC) announced they will withdraw the Principles for Climate-Related Financial Risk Management for Large Financial Institutions. The principles were issued in 2023 to help large banks assess and manage climate-related financial risks. The agencies said they “do not believe principles for managing climate-related financial…
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EU to delay sustainability reporting for non-EU companies
The European Union (EU) will postpone its requirement that non-EU companies adopt upcoming sustainability-reporting standards under the Corporate Sustainability Reporting Directive (CSRD). The delay, part of the Omnibus I reform package the European Parliament’s Legal Affairs Committee approved on October 9, 2025, would move the compliance date from June 2026 until at least October 2027.…
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Judge restricts ESG use in American Airlines 401(k) plan
U.S. District Judge Reed O’Connor, appointed by President George W. Bush (R), issued a final ruling in Spence v. American Airlines Inc., siding partly with a pilot who sued the airline over ESG-linked retirement investments. O’Connor ruled that American Airlines breached its duty of loyalty under the Employee Retirement Income Security Act (ERISA) because it…
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Overview of implications for the administrative state in decisions from the 2024-25 Supreme Court term
What’s the story? The U.S. Supreme Court ended its October 2024 term on June 27, 2025, with a series of rulings on the administrative state. The Court issued 13 decisions that affected federal agency operations and oversight. The most notable opinions from the term included decisions: SCOTUS also clarified constitutional boundaries on agency appointments, declined…
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Overview of federalism implications in decisions from the 2024-25 Supreme Court term
What’s the story? During the 2024 term, which ended on June 27, 2025, the U.S. Supreme Court issued several decisions that affected the balance of federalism, altering how authority is shared between states and the federal government. The rulings focused less on policy outcomes and more on procedural rules, addressing disputes over the proper use…
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Supreme Court limits nationwide injunctions in Trump v. CASA, Inc.
The U.S. Supreme Court issued a 6–3 decision in Trump v. CASA, Inc. on June 27, holding that federal district courts exceeded their authority by issuing universal injunctions—orders that block a federal policy nationwide, not just for the parties in the case. The Court did not decide the constitutionality of the underlying executive order concerning…
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Supreme Court hears case on nationwide injunctions tied to birthright citizenship order
What happened? The U.S. Supreme Court heard oral arguments May 15 in Trump v. CASA, Inc., a case challenging President Donald Trump’s (R) executive order restricting birthright citizenship. The case was consolidated with Trump v. Washington and Trump v. New Jersey, in which four and 18 states, respectively, filed lawsuits against the administration. The legal…
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Utah lawmakers pass laws designed to assert state sovereignty and limit federal influence
Utah lawmakers passed eight bills and resolutions to assert state sovereignty and limit federal influence during the 2025 legislative session, which ended March 7. These measures address fiscal independence, regulatory oversight, and election authority. Utah has a Republican trifecta, with Republican control of the governor's office, state senate, and state house. Below are the federalism-related…
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European Commission proposes ESG reporting rollback
The European Commission unveiled a proposal to scale back ESG reporting requirements under the Corporate Sustainability Reporting Directive (CSRD). Germany and France urged the Commission to ease CSRD requirements, arguing that they undermine EU companies' competitiveness, especially as the U.S. Securities and Exchange Commission (SEC) has paused its reporting rules. The proposal would exempt up…