U.S. judge blocks release of Georgia woman in Capitol riot

first_imgNASHVILLE, Tenn. (AP) — A Washington, D.C., judge has issued an emergency order preventing the release of a Georgia woman involved in the Jan. 6 riot at the U.S. Capitol. Lisa Eisenhart is accused of breaking into the Capitol with her son, Eric Munchel of Nashville, Tennessee. Both were arrested and are being held in Nashville. In separate hearings, a Nashville judge had ordered them released to home confinement. In an emergency order Tuesday, a federal judge in the District of Columbia blocked Eisenhart’s release and ordered her transported to D.C. The judge issued the same order for Munchel on Sunday.last_img read more

Disparate impact: Why it’s more than just a regulatory issue

first_img 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Michael Cochrum Michael has worked in the consumer lending industry since 1989. In 1999, he joined the credit union industry, working for the Texas Credit Union League’s credit union. Mr. Cochrum … Web: www.cudirect.com Details There has been a lot of discussion over the last couple of years regarding Disparate Impact and Fair Lending Testing, specifically in regard to the NCUA requiring credit unions to prove they are not treating members differently based upon being a member of one of the protected classes.Intentional or inadvertent disparate impact is basically when a credit union policy, intended to reduce risk, causes members of a certain class to be treated differently than the whole. For example, a minimum income requirement to get a loan could inadvertently prevent members who are retired from getting a loan, even though they would otherwise qualify. Most credit unions would never even think of treating members differently because of their age, sex or race. But, many would be surprised at the results of a Fair Lending Test. Therefore, it makes more sense that credit unions would want to test for disparate impact to ensure that members are treated fairly, rather than testing simply to meet regulatory requirements.The issue with validating a credit union’s lending procedure’s fairness is that the information required for establishing whether an applicant is part of a protected class, in most cases, cannot be collected. For example, one may not ask a borrower’s sex or race, and may not even so much as keep a copy of a member’s driver’s license in the loan file. Therefore, how are credit unions expected to test for disparate impact if the very regulations intended to prevent them from discriminating precludes them from testing? Thankfully, there are some procedures that have been used, while not precise, promise to make the process much easier. One of those procedures is called Bayesian Improved Surname Geocoding (BISG), which measures the probability of a person’s race based upon their last name and zip code.We won’t go into detail regarding the formula here, but will explain how it works. Thanks to the Census Bureau, we are able to know what the probability of a person’s race is based both on their last name and where they live based on zip code information. The Census Bureau actually has a list of the most common last names in the U.S. and the probability of race for each name. The chart below illustrates the information available.Notice that according to this chart, a person with a last name of Smith has a 73.35% probability of being of White and a 22.22% probability of being Black. Comparatively, a person with the name Hernandez has a 4.55% chance of being white only and a 93.81% chance of being Hispanic. It is much easier to establish a Hispanic or Asian person’s race based on last name alone as the surnames are consistent. However, depending on surname, it is much more difficult to distinguish White from Black. For this reason, BISG uses zip codes to further pinpoint race by combining the probability of both surname and residence. The chart below is an example of the Census zip code data.The probabilities of surname and zip code are combined using the Bayesian Theorem formula and the highest race probability is assigned to the borrower. Once the race is determined, it is simple then to test the various application attributes to discover disparate impacts.Isolated incidents of disparate impact should not be concerning, however trends should alert the credit union that changes should be made. In the example above, Weighted Average Rates are highlighted as they relate to the average, or control set. It is clear, based on the color coding that both Hispanics and Black borrowers are paying consistently higher than average rates. It is also clear that whites are either charged average or below average rates. What may not be clear is, why? But, at least, at this point the issue has been identified.Credit unions are supposed to be fair to its members and should not, even inadvertently, treat members differently based on any of the protected classes. For this reason, credit unions should embrace the fair lending test, not just for regulatory compliance, but to ensure that members are treated fairly. While it may be difficult and time consuming at first, the investment will pay off in the end.last_img read more

Brand complacency leads to brand catastrophe

first_img“The damage was slow and quite, almost incremental, like a single loose thread that unravels a sweater inch by inch.”—Howard Schultz, president and CEO, Starbucks, in his book OnwardNatural disasters tend to strike unexpectedly and with little warning. That’s usually not the case when it comes to business. There are normally warning sings such as poor financial reports, slow growth numbers and dissatisfied consumer surveys that point to a troubled credit union or bank.With your brand, challenges tend to appear much more subtly. I call it “brand creep.” In other words, problems slowly “creep” into your brand. A slow to return phone call here, a lack of a proper greeting there and an inattentive employee every now and then. Taken individually, those probably are not major red flags that result in the immediate death of your brand. However, what is the accumulation of those individual missed brand opportunities?All those subtle “average” experiences point to a major potential challenge: complacency. Creep leads to complacency.And more than anything else, brand complacency leads to brand catastrophe.Brand complacency can rear its ugly head in multiple places, but none more so than with your employees. According to Gallup, only 26% of the workforce is “actively engaged.” Translate that to your financial institution: only 26% of your employees are actively engaged with your brand. In other words, they are complacent. continue reading » 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

“Future Ready” to help credit unions: Jack Henry & Associates

first_imgWe had the opportunity to attend the 2019 Symitar® Educational Conference (SEC) & TechConnect on September 16-19th in San Diego, California. This was the first time the Foundation has been invited to attend this event and we were honored as the beneficiary.What was this event and how is it relevant for credit unions?Credit union technologists and business leaders of all technical abilities traveled from across the country to San Diego for the SEC. The event delved into the ever-evolving technology landscape surrounding the credit union industry, and sessions covered a range of topics –  from loan growth to deposit acquisition, and helping members achieve financial success to achieving greater operational efficiency.This year, the theme was “Future Ready.” The focus was on four major areas: business intelligence, the evolution of digital banking, peer-to-peer payment technology, and non-bank, non-traditional alternatives. Attendees were inspired by Ben Nemtin, co-founder of MTV’s The Buried Life and this year’s SEC keynote speaker. Throughout the conference, Symitar asked attendees to share items from their bucket list in the hopes of motivating them to find tangible ways to make that bucket list item a reality. At the end of the conference, Symitar chose two attendees and helped them pursue and cross those bucket items off their lists – how cool?! ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more

‘They love to stay longer ‘: 600 Chinese citizens extend permits in Bali amid virus fears

first_imgSurya said that Chinese citizens could apply for the emergency stay permits at the nearest immigration office by bringing valid travel documents, namely their passports, Indonesian visa as well as their previous stay permit. Read also: Japanese man’s COVID-19 case raising concerns about Indonesia’s detection ability“The application is free of charge,” Surya said.Authorities previously estimated that at least 5,000 Chinese tourists in Bali are likely to be stranded in the resort island as a result of the indefinite travel ban.  More than 600 Chinese nationals have extended their stays in Bali amid fears of the coronavirus outbreak in China, securing emergency stay permits that enable them to remain on the resort island for another 30 days after their visas expire.The Law and Human Rights Ministry’s Bali office spokesperson, I Putu Surya Dharma, said the Chinese citizens had applied for the emergency stay permits through three immigration offices in Bali, namely Ngurah Rai Immigration Office in Jimbaran, Denpasar Immigration Office and Singaraja Immigration Office in Buleleng regency.“Most applications were submitted through Ngurah Rai Immigration Office in Jimbaran,” Surya Dharma told The Jakarta Post on Monday.The policy of granting emergency stay permits for Chinese tourists has been in place ever since the government imposed a travel ban to and from mainland China on Feb. 5, which also temporarily suspended all flights connecting Indonesia and the East Asian country, where the deadly coronavirus was first detected. However, Chinese Consul General in Denpasar Guo Haodong said many of the Chinese citizens had departed from Bali to other countries that had yet to impose a travel ban to mainland China and had boarded flights from there to get home.Guo said the some 600 remaining Chinese citizens had decided to extend their stays in Bali for fears of coronavirus in their home country as well as because many of their activities in China were halted due to the outbreak.“And they love to stay longer in Bali, enjoy Bali longer,” Guo said, adding that all Chinese citizens holidaying in Bali were in good health.The coronavirus, which causes the COVID-19 disease, has spread to nearly 30 countries since it first emerged in the Chinese city of Wuhan in late December.As of Monday, more than 2,500 deaths from the virus were confirmed in mainland China, while nearly 30 people outside mainland China have died after contracting the virus. More than 77,000 infections have been recorded worldwide, AFP reported.Read also: 118 foreigners refused entry to Indonesia in February due to China travel historyAnak Agung Suryawan Wiranatha, the director of Udayana University’s Center of Excellence in Tourism, said Bali should continue accommodating Chinese citizens stranded on the resort island as long as the provincial administration was able to lend them a hand.“Maybe they are more comfortable to stay in Indonesia because of the outbreak of the virus in their country. So, we should help them,” he said.Agung Suryawan further suggested that tourist industry stakeholders offer the Chinese citizens special discounts while staying in Bali, saying that “this is a question of humanity”.He went on to say that people should not worry about their stay in Bali as they had passed the 14 days of coronavirus incubation period since the date they entered the province.“If they had contracted [coronavirus], they would have already shown symptoms. They are already here for more than 14 days, so there’s nothing to worry about if they stay here longer,” he said.Topics :last_img read more

PGGM enters telecommunications-tower joint venture with AMT

first_imgThe €200bn asset manager PGGM has entered into a joint venture with American Tower Corporation (AMT) aimed at building telecommunications towers in Europe and leasing out telecom capacity.Boston-based AMT, which already has operations in Germany, will transfer these activities to the joint venture, dubbed ATC Europe, in which PGGM will own a 49% stake.James Taiclet, chairman and chief executive at AMT, emphasised the importance of PGGM’s extensive expertise in Europe for the co-operation.“Together with AMT’s track record in investing and managing telecom property, it is a convincing basis for future investment opportunities,” he said. Frank Roeters van Lennep, PGGM’s CIO for private markets, said: “As a long-term investor, we are keen to invest in Europe’s real economy, focusing on stable long-term returns.“The joint venture offers a unique opportunity to join forces with the world market leader in the sector and to benefit from its enormous experience.”A spokesman for PGGM declined to provide details about the scale of the joint venture or expected returns.He said the venture fit within PGGM’s policy of seeking strategic investment partners as a main shareholder.The asset manager is already in a joint venture with building firm Royal BAM, focusing on the public/private market for infrastructure in Northwestern Europe.It has also teamed up with Legal & General to develop and rent out residential property in the UK.American Tower is an independent developer, owner and manager of multi-tenant property in the communications sector.It has operations in 13 countries across five continents, and its portfolio contains more than 144,000 assets.The €185bn healthcare scheme PFZW, the €9.5bn occupational pension fund for general practitioners (SPH) and the €1.4bn scheme for private security (SPB) have invested part of their assets in PGGM’s infrastructure fund.last_img read more

Mandate roundup: €300m up for grabs in trio of IPE Quest tenders [updated]

first_imgManagers responding to the search should have at a track record in the asset class of at least five years – although the pension fund indicated flexibility on this criterion – and a minimum of $500m (€441m) under management.The investor cited a maximum tracking error of 8%.The deadline for submissions is 15 March at 5pm UK time.Dutch investor eyes social bondsAn investor based in the Netherlands has issued a search for a social bonds fund manager to run at least €10m.Search DS-2513 is for a global, developed markets social bonds mandate. The strategy should be actively managed and available as a pooled fund.Managers must have at least a one-year track record.The deadline for submissions is 14 March at 5pm UK time.Family office targets concentrated global equity portfoliosFinally, a Dutch family office is seeking a manager with the ability to run €67m in large cap global equities, spread across 26 separate accounts on an internal investment platform.Search QN-2515 specifies that managers responding to the tender should have at least €250m under management in global equities, and at least €1bn across the company.They should have a minimum track record of three years, but the family office said it would prefer at least a 10-year record.The family office wants an active manager able to run concentrated portfolios of roughly 30-50 stocks. The minimum tracking error is 5%, with a maximum of 10%.Managers should report performance gross of fees to 31 January 2019. The preferred benchmark is the MSCI ACWI index.The deadline for submissions is 14 March at 5pm UK time.This article was updated on 5 March to reflect changes to the QN-2515 search.The IPE news team is unable to answer any further questions about IPE Quest, Discovery, or Innovation tender notices to protect the interests of clients conducting the search. To obtain information directly from IPE Quest, please contact Jayna Vishram on +44 (0) 20 3465 9330 or email jayna.vishram@ipe-quest.com. Three investors are hunting managers for mandates via IPE’s RFP service, IPE Quest.£200m global equities mandateA UK pension fund is searching for ideas from fund managers for a £200m (€233m) global equities mandate, via IPE Quest.Search DS-2514 is for an actively managed, global large-cap equity allocation. The investor is open to either a pooled fund or segregated mandate.last_img read more

Palace chides Drilon: ‘IATF not a failure’

first_imgDrilon said in a separate television interview earlier in the day that IATF-EID did not properly handle the public health crisis as infections in the country continue to climb. DRILON. RAPPLER Based on the latest data from the Department of Health, the Philippines has recorded 70,764 COVID-19 cases with 23,281 recoveries and 1,837 fatalities./PN “I don’t think we failed; for as long as we did not meet the 3.5 [million cases] projection of [the] UP [University of the Philippines]. And UP has been very good [in] their forecast,” Roque told CNN Philippines. “[Department of Health] Secretary (Francisco) Duque today lacks credibility to be able to command people to do things and he cannot influence decisions,” Drilon said in an interview with ABS-CBN News Channel. “We will always have different points of view, particularly those coming from the opposition, and I think they’re resorting to politicking stories. The appeal of the President is to concentrate on the COVID-19, set aside politicking for the time being which I think is a very wise policy,” he further said.center_img Presidential spokesperson Harry Roque said in a television interview yesterday that the opposition senator should stop politicizing the coronavirus disease 2019 (COVID-19) pandemic. “For as long as we’re minimizing death rates, I think we have succeeded. And there’s no way I can change that position because one life loss is too much,” added Roque, who also serves as IATF-EID spokesperson. “On the other hand, I don’t see any of the economic team in the IATF deliberations, maybe they are somewhere there in the background but given the effect of the pandemic in our economy, they should be in the forefront together with our health sector,” he further said. MANILA –Malacañang slammed Senate Minority Leader Franklin Drilon for calling the Inter-Agency Task Force for the Management of Emerging Infectious Disease (IATF-EID) as a failure.last_img read more

Costa: ‘Conte not a top coach’

first_img Loading… Diego Costa claims Antonio Conte is not a ‘top, top manager’ and ‘would never last a season at Real Madrid’ because of his man-management. Costa won the Premier League under Conte in 2017, during the coach’s first season in charge of Chelsea. However, their rapport broke down when the Inter boss informed the striker he was no longer needed by text message. The 31-year-old maintains he has ‘no hard feelings’ towards the ex-Italy CT but is not a fan of his ‘very suspicious’ approach. “We [Conte and I] had problems off the pitch, but I think he is a really good manager. I have no hard feelings towards Conte,” he told ESPN.Advertisement “But to be a top, top manager, he needs to change the human side of his management.” Conte was tipped to take over at Real Madrid after Julen Lopetegui’s dismissal two years ago. read also:Costa: My toughest teammate at Juventus is not Ronaldo “He is very suspicious. He would never last a season.” Costa returned to Atletico Madrid in January 2018 but has been linked with Serie A moves in recent weeks. FacebookTwitterWhatsAppEmail分享 Promoted Content7 Things That Actually Ruin Your Phone7 Universities In The World Where Education Costs Too MuchWhat Happens When You Eat Eggs Every Single Day?Which Country Is The Most Romantic In The World?2020 Tattoo Trends: Here’s What You’ll See This YearBirds Enjoy Living In A Gallery Space Created For ThemThe Models Of Paintings Whom The Artists Were Madly In Love With8 Best 1980s High Tech GadgetsWorld’s Most Delicious FoodsThe 10 Best Secondary Education Systems In The WorldThis Guy Photoshopped Himself Into Celeb Pics And It’s HystericalFantastic-Looking (and Probably Delicious) Bread Artlast_img read more

Hawthorne Speedway grand reopening is Saturday

first_imgHAWTHORNE, Nev. – The grand reopening for Hawthorne Speedway is Saturday, May 21, as Xtreme Motor Sports IMCA Modifieds take to the quarter-mile oval for their first of six 2016 events at the Nevada speedplant.Racing starts at 5 p.m. Saturday.The Iron Man Challenge Series comes to town on June 27 and 28. Other sanctioned dates are July 9 and Sept. 3 and 4.Hawthorne is part of IMCA’s Larry Shaw Racing Western Region.last_img