Pay Day: The proposed $7.25 billion settlement in a private lawsuit brought by retailers against Visa Inc and Mastercard Inc could spell one of the most generous paydays in U.S. history for lawyers, Reuters reports.
On Trial: The civil trial of a former Citigroup banker may not turn out to be the great exposé of the financial crisis, but it will almost certainly show Wall Street’s wrongheadedness, The New York Times reports.
Document Request: Federal officials investigating the Jerry Sandusky child sex-abuse scandal have asked Penn State University for a long list of documents, including logs of all incidents of crime reported to any campus security authority from 1998 to 2011, the Washington Post reports.
We're Sorry: HSBC Holdings Plc executives in a Senate hearing yesterday apologized for opening their U.S. affiliate to a river of Mexican drug lords’ cash, and the U.S. regulator that failed to stem the flow vowed to prevent a repeat, Bloomberg reports.
Scout Ban: The Boy Scouts of America announced Tuesday it has affirmed its policy of "not granting membership to open or avowed homosexuals," CNN reports.