Cassidy’s bill tailored to Stanford victims

U.S. Rep. Bill Cassidy plans to file legislation Thursday to allow investors of R. Allen Stanford to individually opt out of a federal lawsuit for one-time buyouts of up to $500,000. The Securities and Exchange Commission filed suit in December against the Securities Investment Protection Corp. trying to force it to pay up to $500,000 each in lost money to investors with Stanford. More in the Advocate here.