Senate Debates Dodd-Frank Modification Bill

first_img Demand Propels Home Prices Upward 2 days ago March 7, 2018 1,416 Views The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Senate Debates Dodd-Frank Modification Bill Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save About Author: David Wharton  Print This Post Sign up for DS News Daily in Daily Dose, Featured, Government, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Dodd-Frank Act Economic Growth Regulatory Relief and Consumer Protection Act Regulatory Reform Senate Stress Tests Volcker Rule 2018-03-07 David Wharton Home / Daily Dose / Senate Debates Dodd-Frank Modification Bill Previous: Will Rising Rates Really Impact the Housing Market? Next: Fannie: Consumer Housing Sentiment Weakens Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Dodd-Frank Act Economic Growth Regulatory Relief and Consumer Protection Act Regulatory Reform Senate Stress Tests Volcker Rule Demand Propels Home Prices Upward 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago On Wednesday, the Senate entered its second day of debate over the Economic Growth, Regulatory Relief, and Consumer Protection Act. The bill enacts modifications to the Dodd-Frank Wall Street Reform and Consumer Protection Act signed into law in 2010 by President Obama. A full Senate vote is expected to happen this week, after which the bill will have to then return to the House of Representatives and pass there as well. This follows the House passing its own regulatory reform bill last week, which the Senate passed over in favor of crafting its own version.The Economic Growth, Regulatory Relief, and Consumer Protection Act enacts numerous reforms and changes regulations pertaining to lenders. One of the primary changes is increasing the threshold for enhanced regulatory standards from $50 billion to $250 billion, a change designed to exempt some smaller and mid-sized banks from regulations that would still apply to the larger banking entities. The affected regulations pertain to capital and liquidity rules, risk management standards, and stress testing requirements, among other things. The bill also exempts banks with less than $10 billion in assets from the Volcker Rule, which limits risky trading by U.S. banks, and dials back restrictions on small and regional banks when it comes to restrictions on mortgage lending.Sen. Elizabeth Warren (D-Massachusetts), who has been a longtime opponent of weakening Dodd-Frank, said, “If we lose the final vote next week, we’ll be paving the way for the next big crash. It’s time for the rest of us to fight back and demand that Washington work for us, not the big bank lobbyists.”The bill does have plenty of Democratic defenders, however, several of whom argue that the reforms could help community banks flourish and help revitalize rural economies. Sen. Heidi Heitkamp (D-North Dakota), a supporter of the legislation, said, “When you don’t respond to these kinds of legitimate concerns from small lenders, there’s a resentment to the overall policy. We tend to throw the baby out with the bathwater with that kind of frustration.”More than a dozen banks sent a letter to Sen. Mike Crapo (R-Idaho) and Sen. Sherrod Brown (D-Ohio) earlier this week, expressing their support for the proposed legislation. “Our banks do not threaten U.S. financial market stability, and we should not be subjected to the same regulatory regime as larger banks with more complex and interconnected business models,” the letter read in part. “Regional and traditional lenders and our communities have been disadvantaged by a regulatory model that lumps us together with the largest, most complex banks.”The Credit Union National Association also sent a letter of support to Senate letters. Their letter read, in part, “We applaud the good faith effort to craft common-sense regulatory reform legislation. S.2155 is the result of months of deliberate bipartisan negotiations and contains several provisions supported by America’s credit unions.”Yana Miles, Senior Legislative Counsel for the Center for Responsible Lending, issued a statement reading, “The financial crisis led to a Great Recession that cost millions of Americans their jobs, homes, and savings. This bill would allow for the return of many of the same reckless financial practices that caused the crash. This bill lifts commonsense safeguards, designed to stop banks from again tanking the economy, while also making it easier for financial companies to sell risky mortgages, discriminate against communities of color, and steer manufactured-home owners into more expensive mortgages. The American public does not want this dangerous bank deregulation. Congress is playing with fire.”last_img read more

2020/21 Season: Ndidi will remain tough nut to crack

first_img FacebookTwitterWhatsAppEmail分享 With barely four days to the kick off the new Premier league season, analyst attempting to see tomorrow say Super Eagles defender Wilfred Ndidi will remain a torn on the flesh of opponents within the season. Ndidi who has successfully made himself a must play at the King Power Stadium has made over 120 appearances for the foxes since joining them in 2017 from Genk and has continued to improve with each game and with every season. Analyst x-raying players performance and club chances ahead of the kickoff noted that Leicester who parade Ndidi and compatriot Kelechi Iheanacho put up a good show   last season despite failing to earn a top four finish. The foxes they predicted will attempt to up their game in the new season, while giving Ndidi a pat on the back for impressive defensive clearance within the period under review. The Nigerian took the lion share of tackles blocking what should have resulted into huge migraine for the foxes.Advertisement Promoted Content8 Things That Will Happen If An Asteroid Hits EarthA Hurricane Can Be As Powerful As 10 Atomic BombsWhich Country Is The Most Romantic In The World?10 Gorgeous Asian Actresses No Man Can Resist6 Extreme Facts About HurricanesHow Most Popular Food In The World Came To BeBest Car Manufacturers In The World11 Most Immersive Game To Play On Your Table Top7 Famous And Incredibly Unique Places In Thailand6 Interesting Ways To Make Money With A DroneCouples Who Celebrated Their Union In A Unique, Unforgettable WayThe Biggest Cities In The World So Far “Leicester also attempted a league-topping 742 tackles, with Wilfred Ndidi (129) and Ricardo Pereira (118) leading the way. A graphic representation shows how the Foxes are particularly good at snuffing out danger down their defensive flanks” was the verdict. Leicester City manager, Brendan Rodgers had shortly after the end of last season, urged his wards to look towards the new season with renewed desire and determination. Read AlsoCarabao Cup 3rd round: Its Saka against duo of Iheanacho and Ndidi With the coach and the players on the same page analysts say signs of battle to the finish is assured in the 2020/21 season which kicks off on Saturday September 12. The foxes begin their new season campaign away to West Brom on Sunday with Ndidi who has made over 36 appearances for the Super Eagles expected to feature prominently. Loading… last_img read more

Nikias receives Academic Leadership Award, $500,000 dollar grant

first_imgPresident C. L. Max Nikias was one of four recipients of the Academic Leadership Award from the Carnegie Corporation of New York on Thursday for his vision and commitment to the University and excellence in administration.Founded by industrialist Andrew Carnegie in 1911, the Carnegie Corporation of New York pursues issues that Carnegie believed had great importance — primarily education.“This award recognizes some exemplary leaders of those institutions, who embody the best qualities of leadership — not merely managerial skills, but institutional vision and an abiding commitment to high quality, diversity, curricular innovation and investment in their communities,” said Vartan Gregorian, president of Carnegie Corporation of New York, in a press release. “I am extremely proud to count this year’s recipients among the 20 college and university presidents the corporation has honored with the Academic Leadership Award over the past 10 years.”This award is given every two years. Along with the award, the Carnegie Corporation of New York will provide $500,000 toward Nikias’s academic advances. These advances include his fundraising of $300 million last year for merit-based financial aid and construction projects, namely the Village at USC, investing in biomedical research and renowned faculty and expanding USC’s international outreach.“I am deeply humbled to receive this prestigious recognition, which I accept on behalf of our entire university community,” said Nikias in a statement to USC News. “I take great pride in all that the Trojan Family has achieved together, be it through widening access for deserving students, recruiting transformative faculty or engaging with the communities that surround our two campuses.”Nikias has been with USC since 1991, when he started as a professor of electrical engineering and classics and eventually moved up to dean, provost and, now,  president.Nikias says he already plans to fund the USC Neighborhood Academic Initiative and the Global and Discovery Scholars program. NAI is a college preparation program for underprivileged high school and lower-grade school students, who, if they complete the program and decide to attend USC, receive 4.5-years worth of financial aid. Students meet from 7:30 to 9:30 a.m. for specialized classes taught by their schools’ teachers. USC NAI works with students and families to make sure that they end up receiving a degree.“This award reminds us that our work can make a lasting difference, and inspires us to remain focused on the responsibilities of a global research university,” Nikias said.Ronald J. Daniels of Johns Hopkins University, Patricia A. McGuire of Trinity Washington University and Diana Natalicio of the University of Texas at El Paso also won the award.last_img read more