CUNA delivers regulatory burden study to overregulation hearing

first_imgCUNA submitted its comprehensive regulatory burden study to the House Small Business subcommittee on economic growth, tax and capital access for the record of a hearing Thursday. The hearing focused on the impact of overregulation on community financial institutions, which CUNA’s study breaks down to a dollar amount.“The study found that the costs credit unions bear as a result of regulation, even with conservative measures, are extremely high and have increased substantially since the financial crisis and Great Recession,” wrote CUNA President/CEO Jim Nussle. “The cost of regulatory burden to credit unions in 2014 is conservatively estimated to be $7.2 billion ($6.1 billion in regulatory costs, and $1.1 billion in lost revenue). The $6.1 billion in costs represents 17% of operating expenses of the entire credit union system.”CUNA, with the support of state credit union leagues, commissioned Cornerstone Advisors to analyze the effect of the more than 200 regulatory changes that have followed the financial crisis. Cornerstone conducted an in-depth examination and quantification of the impact of regulations at credit unions of all sizes.“The burden is particularly significant for smaller credit unions since larger credit unions are able to spread compliance costs over a larger asset base. Smaller credit unions are devoting almost half of their staff time to dealing with regulations, taking time away from their members and impeding their ability to expand services and products offered,” Nussle wrote. “When small credit unions stop offering products and services, this limits the choices consumers have, which can be particularly problematic in rural and underserved areas of the country.” continue reading » 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Cornerstones of strategic brand development

first_img 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Brands are symbols full of many different kinds of impressions and meaning. The ideas surrounding your brand provide the most valuable insights for helping any business differentiate, stay relevant and resonate emotionally.There are distinct advantages to using different perspectives to deepen the quality of your brand associations, relationships and meaning. Today we’ll look at metaphors that provide windows into analyzing and comprehending your brand meaning in new ways.Because all products and services are largely defined as brands, it follows that adeptly studying the meaning within your brand is the quickest way to simplifying complexity and focusing on the things that matter most in defining value with consumers. Success today absolutely requires a profound, focused and skillful effort in brand creation, development and management. With this in mind let’s begin with different ways you can view your brand as an aid to growth. continue reading »last_img read more

Watt reiterates need for legislative reforms to housing finance

first_imgFederal Housing Finance Agency Director Mel Watt told members of the Senate Banking Committee Thursday that Congress needs to make legislative reforms to government-sponsored enterprises Fannie Mae and Freddie Mac, saying their “conservatorships are not sustainable.”In his opening statement, Watt said “these conservatorships are not sustainable and they need to end as soon as Congress can chart the way forward on housing finance reform.”NAFCU’s priority in any reforms of the housing finance system remains to ensure credit unions’ access to the secondary mortgage market. The association has also urged that Congress put into place safeguards that will prevent discrimination based on institution type or asset size.Of note, Sen. Cortez Masto, D-Nev., asked Watt about the potential for community lenders being effectively boxed out in housing finance system reform. Watt said his intention is to treat large and small lenders the same. continue reading » 12SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Using Prisoner Phone Calls to Convict? NY’s Highest Court Puts Critical Question on Hold

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York By Joe Sexton, ProPublicaTwo years ago, a New York City man named Marcellus Johnson was convicted of robbery—in part as a result of incriminating telephone conversations that had been recorded while he was awaiting trial in a Rikers Island jail cell. Last April, New York’s highest court affirmed the conviction, upholding the use of the recorded conversations.However, the justices of the New York Court of Appeals left open a future challenge to the use of such recordings.“Our resolution of the narrowly drawn issues presented on this appeal,” the justices wrote, “should not be interpreted as the Court’s approval of these practices.”These practices, the court made clear, involve the routine recording of inmate telephone conversations by corrections officials, and the nearly as routine practice of turning those recordings over to prosecutors.Justice Eugene F. Pigott, in a concurring opinion, put the court’s concerns plainly.“The current arrangement between the Department of Corrections and the district attorney’s office creates a serious potential for abuse,” Pigott wrote, adding, “Something needs to change.”An effort to compel that change has now arisen in another New York case: the murder trial of Pedro Hernandez for the killing of Etan Patz, the 6-year-old boy who famously went missing in 1979, never to be found. In Hernandez’s first trial—a single holdout juror prevented a conviction last year—prosecutors used a handful of recorded jail conversations as part of their case. Now, given the Court of Appeals decision, Hernandez’s lawyers are moving to bar prosecutors from using the conversations in his re-trial, set to begin in Supreme Court in Manhattan next month.The phone calls at issue were between Hernandez and his wife, made over the course of the four years Hernandez has been held at Rikers Island since his 2012 arrest. Prosecutors used them in an effort to undercut one of the central claims of Hernandez’s defense: that he is mentally ill and susceptible to being manipulated. Hernandez, a former worker in a bodega near where Patz lived, initially confessed to killing the boy in the bodega basement and stashing his body in a box on a nearby street. But his lawyers have said the confession was coerced and that it amounts to the invented imaginings of a profoundly sick man who has been on psychiatric medication for years. Prosecutors argued that the phone conversations revealed Hernandez to be coherent, even calculating, and thus likely faking his mental illness.Now Hernandez’s lawyers have argued that while Hernandez may have been aware corrections officials were recording his calls to his wife, he had never consented to those recordings being given to prosecutors. They cite the April Court of Appeals decision in their filings.“The facts at issue here,” the lawyers wrote in papers filed this summer, “shed light on the Department of Correction’s unsettling practices — practices that have turned a body responsible for detaining individuals to assure their presence in court into an evidence gathering arm of the district attorney’s office. As the Supreme Court has asserted, ‘Prison walls do not form a barrier separating prison inmates from the protections of the Constitution.’”Prosecutors with the Manhattan District Attorney’s office have urged the judge in the Patz case, Maxwell Wiley, to reject the defense motion to bar the recorded calls.“In brief, the defendant has consistently and frequently used the telephone while incarcerated since his arrest in May of 2012,” they wrote. “Before any inmate makes a phone call, the inmate is warned no fewer than three times that his phone calls may be recorded and monitored. The inmate is also unequivocally told that his use of the phone constitutes consent to the recording of the call. The defendant’s calls are also replete with explicit and implicit references to his knowledge that the calls are being recorded and they may be turned over to law enforcement agencies. Of course, once an inmate consents to the recording of the conversation, he no longer retains a reasonable expectation of privacy in the recordings.”The dispute over the telephone recordings is just the latest bit of legal combat in a case that has stretched on for years and rekindled one of the darker moments in the city’s history. Etan Patz was on his way to school alone for the first time in his young life when he vanished. A manhunt followed; a national debate over parental responsibility was provoked; suspects surfaced, only to be discounted. Patz’s parents, convinced a convicted pedophile who had once dated Etan’s babysitter was the likely killer, won a civil judgment against the man, Jose Ramos.Doubts about Hernandez’s guilt arose almost from the moment he confessed and was arrested. A former federal prosecutor who had spent years trying to convict Ramos, as well as the FBI agent who worked with him, both testified at Hernandez’s first trial about what they believed to be convincing evidence that Ramos was the actual killer. But prosecutors very nearly won a conviction, and when the jury split 11–1 for conviction and a mistrial was declared, they vowed to try again. Patz’s family, now assured Hernandez was their son’s murderer, had the earlier judgment against Ramos vacated.It’s unclear what the chances are that Hernandez’s lawyers will prevail on the phone calls. But it seems clear that, in citing the concerns or uncertainty of the Court of Appeals, they are laying the grounds for a future appeal should Hernandez be convicted.Justice Pigott, to be sure, laid out his concerns at length in his April opinion.He and the other justices made clear they understood the need for corrections officials, in the interest of safety, to be able to record calls of the often violent people in their custody. And there seems no evidence that calls between inmates and their lawyers are being recorded and improperly used against defendants. It’s the wholesale recording of calls and the pro forma providing of them to prosecutors that seemed to trouble Pigott, a Republican who is considered to be a conservative jurist.“The department’s purpose in recording and monitoring these conversations is limited to ensuring the safety and security of its facilities, not harvesting evidence for the prosecution,” he wrote. “Yet the people admit that, unknown to defendants, they routinely obtain and review such recordings before trial, in search of anything that can be used against them. The People justify this practice principally on the basis of consent: because the calls were recorded by the Department, and the detainee knew the department could record and or monitor the calls, he has no expectation of privacy in the conversations and is not entitled to shield them from the prosecution.”Pigott then cites the language of a prior ruling, saying there is “a major distinction between prison authorities having access to prisoners’ phone calls for purposes of prison security and discipline, and the prosecutors of that pretrial prisoner having the same access for purposes of gaining advance knowledge of the pretrial prisoner’s trial strategy and potential witnesses.”Prosecutors in the Patz trial suggest that is hardly the case with Hernandez’s calls. They didn’t involve witnesses or strategy. As well, they argue, his wife reminds Hernandez during one or more of the calls that he shouldn’t say anything that could be damaging. They argue there is evidence Hernandez had been told by his own lawyers to watch what he said on the calls, for fear it could be used against him. In essence, that’s consent, they argue.Whether the Hernandez case is the one that ultimately tests the nature and extent of the concerns of the Court of Appeals, it seems inevitable some case will, given the apparent invitation.ProPublica is a Pulitzer Prize-winning investigative newsroom. Sign up for their newsletter.last_img read more

H1N1 FLU BREAKING NEWS: Business flu concerns, costly school closings, vaccine shipments, virus mutation, testing for flu

first_imgSep 30, 2009Biggest business flu concern is vaccineWhen it comes to pandemic flu, US businesses are most concerned about the availability of a vaccine for employees, according to a survey released today by the Business Roundtable. The organization also found that “nearly 90%” of businesses surveyed have activated or updated their preparedness plans since novel H1N1 flu first appeared. About 35% of respondents said they need more information about the severity of pandemic H1N1 flu compared with seasonal flu.http://www.cnbc.com/id/33004715Sep 30 CNBC storyNationwide school closure would prove costlyClosing all US schools for 4 weeks to curb the spread of pandemic flu would cost between $10 billion and $47 billion in lost workforce productivity and temporarily shrink the pool of healthcare workers by 6% to 19%, according to a report today from economists at the Brookings Institution. The group estimated that about 14% of households with kids would have a sick worker during the pandemic. Federal guidance discourages school closure but allows local officials to make their own determinations.http://www.brookings.edu/papers/2009/0930_school_closure_lempel_hammond_epstein.aspxSep 30 Brookings report abstract3 H1N1 vaccine makers ship first dosesThree H1N1 vaccine manufacturers have begun shipping vaccine doses, according to CNN. Sanofi Pasteur said it shipped its first batch yesterday, several days ahead of schedule. More shipments will follow, according to a company spokesperson, with a total of 75.3 million doses expected by year’s end. MedImmune sent its first batch of 5 million doses to distribution centers last Tuesday, and Novartis began shipments on Sunday.http://www.cnn.com/2009/HEALTH/09/29/first.h1n1.vaccine/index.htmlSep 29 CNN reportResearchers find mutation in novel H1N1Virologists in the Netherlands have detected a pandemic H1N1 virus mutation that has been linked to enhanced replication and possible virulence changes. In a Sep 28 ProMed e-mail list post, they said they found the mutation in the basic polymerase 2 protein in samples from two patients who had links to an island in northern Holland. Both patients recovered. In a Canadian Press report yesterday, experts said it’s not clear how clinically significant the mutation is, but it bears watching.http://www.promedmail.org/pls/otn/f?p=2400:1001:130781749562916::NO::F2400_P1001_BACK_PAGE,F2400_P1001_PUB_MAIL_ID:1010,79432Sep 28 ProMed mail postCDC updates advice on flu testingThe CDC yesterday released updated recommendations on diagnostic testing for flu during the coming season. The agency recommends considering testing for hospital patients with suspected flu; those for whom a flu diagnosis will affect decisions about care, infection control, or management of contacts; and those who died of suspected flu. The advisory includes information about rapid testing and issues related to antiviral treatment.http://www.cdc.gov/h1n1flu/guidance/diagnostic_tests.htmUpdated CDC recommendationsAustralia begins vaccination campaignAustralia began nationwide vaccinations against H1N1 influenza today, administering the first shots in what is intended to be a 21-million-dose campaign. The initial allotment of 5.5 million doses from Australian manufacturer CSL Ltd. will be given to pregnant women, healthcare workers, and the chronically ill. Authorities are concerned the vaccine will face low uptake because the flu season is waning after 35,000 confirmed cases and 178 deaths.http://news.sky.com/skynews/Home/World-News/Swine-Flu-Australia-Launches-Worlds-First-Nationwide-Vaccination-Programme/Article/200909415395887Sep 30 Sky News articleMilitary flu shots to provide dataActive-duty members of the US armed forces will begin receiving 1.4 million doses of H1N1 flu vaccine in the next 10 days, part of a 2.7-million-dose vaccine purchase by the Pentagon. The shots, which are mandatory, will go first to troops preparing to deploy, followed by troops on hold for domestic disasters. Planners hope the early shot campaign will provide needed data on efficacy and side effects.Sep 29 Associated Press reportIrish pigs infected with novel H1N1Forty pigs have contracted pandemic H1N1 flu, apparently from an infected worker, on a swine farm in County Cork, Ireland, according to a report filed yesterday with the World Organization for Animal Health (OIE). The worker tended pigs on the farm Sep 15 through 18 while sick, and on Sep 22 was confirmed to have novel H1N1. Forty of the farm’s 650 sows began showing clinical flu symptoms Sep 25 and are being monitored. The farm, near Kilworth, also contains 2,400 young pigs.http://www.oie.int/wahis/reports/en_imm_0000008473_20090929_124337.pdfSep 29 OIE reportlast_img read more

Purple & Bold: How LeBron keeps track of Bronny during Lakers’ busy season

first_imgEditor’s note: This is the Saturday, Dec. 14 edition of the Purple & Bold Lakers newsletter. To receive the newsletter in your inbox, sign up here.MIAMI — Let’s briefly gloss over that it’s 77 degrees in Miami Beach today and look back about a week-and-a-half in a much colder climate.The scene is in the Pepsi Center in Denver, and the Lakers are celebrating a tough road win over the Nuggets. As guard Danny Green attempts to field a question, shouting from the other end of the locker room interrupts him.A herd of reporters twists their heads to spot LeBron James, sitting in front of his locker watching his phone while excitedly pumping his fist in the air. Newsroom GuidelinesNews TipsContact UsReport an Error As many NBA families know, the cruelty of the league is that it takes you away from home, often for extended stretches. Players, coaches, media, support staff and many others travel so much, it’s weaved into their rhythms of life, but it takes away time from relationships and hands-on parenting.More than ever, LeBron, a father of three, is feeling that sting.“If you ask me what’s been the only sucky thing about this season so far is that my son has played like six games into his freshman year and I haven’t seen one,” the four-time NBA MVP said Friday night. “I love what I do. I don’t take this for granted. This is a dream come true. But missing my son, you know Bron Jr., missing Bryce’s first game the other day when we left for Orlando, his first game of the season. Missing my daughter at gymnastics and things of that nature. And I understand the business, but it sucks.”James is fortunate to have the resources to track his son, and all indications are that he is a devoted follower of Bronny’s basketball exploits. An ESPN piece earlier this week detailed just how much control LeBron has over Bronny’s career, including hand-picking documentary and film crews. While the Lakers come first, tracking Sierra Canyon has arguably become his defining interest outside of his job.It’s fun to note that for this game on Saturday night, he’ll have intel from both sides: LeBron and St.­ Vincent-St. Mary athletic director Willie McGee, old high school teammates, will catch up for dinner before the game tips off at 5:30 p.m. PT.There’s a persistent rumor, sparked by a comment James once made himself rather audaciously, that he wants to keep playing in the NBA until Bronny is old enough to enter the draft. There are many bold assumptions involved in that premise, chiefly that Bronny is good enough to play in the NBA (he’s currently a role player on a star-studded team) and that LeBron is looking forward to playing pro basketball on the cusp of 40.Even LeBron, who likes to step into bold statements now and then, peeled back a little when asked about that Friday night.“My son is in the ninth grade and he’s a kid and we’re not even thinking about nothing besides how he can be a great teammate,” he said. “How he can be a great son. How he can be a great brother to his sister and little brother. His little brother and little sister. And how he can continue to be a great kid.  So we’re not even thinking about that, and he’s not thinking about that.”One wonders what LeBron might think about tonight, as he watches Bronny for the first time live on the national high school stage. Maybe there will be a stray hope or two that it might happen one day.— Kyle GoonLinking to the finishSweet Heat – Miami makes you bleed, but the Lakers became the first team to win there this season.Who is laughing now? – Maybe he never had dinner with Heath Ledger, but the Lakers GM isn’t a league laughingstock right now, Mark Heisler writes.AD for three – Frank Vogel and company want the Brow to hoist up the deep shots.Finding some peace – Dwight Howard is ready to mend fences with Orlando, as long as the Magic are interested.Dudz, the Muscle – After showing Jared Dudley’s softer side, we learned he has an edgy side as well.Winning ugly – The victory in Orlando wasn’t one to write home about.Just like his dad – Tarek Fattal talked to LeBron’s high school coach to scout up Bronny, who has some similar instincts. Not exactly like his dad – ESPN’s Brian Windhorst compared and contrasted father and son’s high school experiences.Revenge game? – Mirjam took a look at Frank Vogel’s return to Orlando leading the Western Conference’s best team.center_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREUCLA alum Kenny Clark signs four-year contract extension with Packers“Lil’ Bronny did something good,” Green surmises, before jumping in himself. “Hell yeah, Lil’ Bronny!”This kind of scene is playing out more frequently as the Lakers trek across the country. After their 23-3 start, the next hot conversation is all about another L.A. team: Sierra Canyon High School. The Lakers’ biggest star is also Sierra Canyon’s No. 1 fan.“He loves it,” forward Anthony Davis said. “Anytime we get a chance to watch a game, whether it’s on a plane or on a bus, he on his iPad or his phone making sure he’s watching his son play. It’s always a great time for him.”James is so excited about seeing his son play, he’s leaving the warmth of Miami early on Saturday for a quick trip to Columbus, Ohio, just to watch Sierra Canyon play St. Vincent-St. Mary which just happens to be his alma mater.It’s going to be a zoo: L.A. Daily News reporter Tarek Fattal reports from Columbus that Nationwide Arena – where the game was moved to accommodate the massive interest – is expecting at least 11,000 fans tonight and almost 300 credentialed media members. While James has expressed that he doesn’t want his son to do interviews as a high school freshman, there’s little doubt that Bronny has already started feeling the media saturation his father inspired as a high school star.last_img read more

Millionaire Steve Smith on a roll both on and off the field!

first_imgAdvertisement 397jNBA Finals | Brooklyn Vs2kaWingsuit rodeo📽Sindre Enf4( IG: @_aubreyfisher @imraino ) gpWould you ever consider trying this?😱7hh60Can your students do this? 🌚lqhnsRoller skating! Powered by Firework Steve Smith’s cricketing career has had its highs and lows, but these days it seems like fortune is indeed by his side. On the field his twin centuries in both innings of the first Ashes Test helped Australia to comeback over England at Edgbaston. And now reports claim that off the field, Smith’s business and investment ventures have turned into an overwhelming profit. According to The Australian Financial Review, the former Australian skipper has turned a $1,00,000 investment in an Australian mattress retailer (Koala Mattress) into a whopping $12.1 million profit.Advertisement On July 2015 Steve Smith invested for 10 percent of the company just before he was declared the Australian Test captain. Since then, the company has built a solid customer base of more than 2,00,000 people and is now valued at over $150 million. His ownership helped the company rake in more investors as he became their brand ambassador as well. Smith, who is among the top five earners of Cricket Australia also has a $2 million contract with Rajasthan Royals in the Indian Premier League.Advertisement However, last year saw Smith reportedly lose up to $7 million during the ball-tampering scandal. He was heavily booed throughout the World Cup and the Ashes series but the Aussie superstar did not let it distract him. With a career average of 62.96 in test cricket, he is now second only to the great Don Bradman. Looks like fortune favors the brave after all. Advertisement Advertisementlast_img read more