What is the CFTC?

The CFTC is the Commodity Futures Trading Commission. It was established in 1974 to act as a regulatory agency over futures contracts. 

The role of the CFTC is to detect and prevent fraud in the futures trading market. By serving this role, the CFTC enables market users, such as investors and creditors, to trade securities in a competitve futures market. 

If your company is involved in the commodity futures trading, contact the Des Moines business lawyers of LaMarca Law Group, P.C., at (877) 327-2600. 

Judge dismisses one suit, allows another against AIG

A federal judge dismissed a lawsuit against American International Group Inc., which alleged that AIG committed fraud against 600 workers' compensation insurance companies. The 600 companies were represented by the National Council on Compensation Insurance Inc.

The judge told the NCCI that the insurance companies lacked standing to sue AIG. However, the same judge allowed a lawsuit filed by Safeco Insurance Co. of America to move forward and reassigned it to Gettleman. The hearing for the Safeco case will occur Sept. 4.  

Both lawsuits allege that AIG defrauded the companies by providing false information about workers' compensation benefits. 

If you or anyone you know deserves has questions about workers' compensation, contact the Iowa workers' compensation lawyers of LaMarca Law Group, P.C. at (877) 327-2600.

Iowa economy shows signs of improvement

As more and more Iowans worry about job security and their incomes in the hurting economy, Iowa Governor Chet Culver tried to cheer them up in a speech over the weekend. 

After meeting with his economic advisers, Culver said economic indicators show that the Iowan economy is starting to improve, asking Iowans not to dwell on "doom and gloom" forecasts. 

Economists project that personal income in Iowa will drop 1 percent this year. However, they were also optimistic, predicting a 1.2 percent growth in 2010. 

Despite the good news about personal income growth next year, economists predict that employment will continue to fall into 2010. The falling employment is not surprising, given that employment is a lagging indicator. This means that during economic recoveries employment typically rises much later than actual economic growth because companies are not as willing to hire employees until they see confident signs of continued economic  improvement.

If you or anyone  you know has questions about your compensation rights, contact the Iowa workers' compensation lawyers of LaMarca Law Group, P.C. at (877) 327-2600.

QuickTrip agrees to pay almost $750,000 in overtime back wages

After months of investigation by the U.S. Department of Labor, QuickTrip Corp. agreed to pay nearly $750,000 in overtime back wages. The payments will go to 3,819 current and former convenience store employees in nine states, including Iowa.

The investigation found that QuickTrip did not pay additional overtime performance-related bonuses, an act that violated the Fair Labor Standards Act. A QuickTrip spokespersonĀ said that the payment failure was due to a computer glitch thatĀ overpaid some employees and underpaid others.

If your business needs strong legal representation for a case such as this, contact the Des Moines business lawyers of LaMarca Law Group, P.C. at (877) 327-2600.


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