6 Burst results for "American Banking Association"
"american banking association" Discussed on TIME's Top Stories
"There's pent up demand for face to face business meetings, conferences, events, networking, people are just starved for that, says Harvey of Southwest business. Southwest is hoping to capture those travelers by attracting companies who want to pay lower fares, but still want to travel, he says. He also argues that since companies have more remote employees now, there's a new class of business travelers who have to fly to headquarters a few times a year. But even people who've spent decades on the road say that the pandemic has made them realize that technology has finally made it feasible to have good communication without traveling. Tina Perkins, who's worked for epic systems, a Madison Wisconsin based electronic medical records company for 20 years says she loved traveling to a new city once or twice a month to help hospitals implement epic software, but she says I've been sort of shocked by how we've been able to adapt. Whereas effective in this hybrid world, which was surprising, having done some things one way for such a long period of time. She says she'll likely travel once every four to 6 weeks going forward rather than once every two to four weeks. Other epic travelers have made the switch, too, employees now take in total about a thousand trips a month down from 3500 before the pandemic. The hotels and airlines that figure out how to make their model work without business travelers are going to be in the best position going forward, says Anthony Jackson, the U.S. airlines subsector leader at Deloitte. During the last recession, airlines expanded their premium economy seats to attract economy travelers who were willing to pay for an upgrade, but not first class, and cost conscious business travelers. Now airlines will likely further expand premium economy in part to give travelers still worried about COVID-19 a way to pay for more elbow room, says Allen Lewis, managing director for LEK consulting. Delta said October 13th, that it actually made a profit in the three months that ended September 30th, and that premium cabin seats drove much of that recovery. Business travel is still less than 50% recovered the company said. Like airlines, hotels are going to have to think up new ways to attract traveler money, says raschke of mourning consult. They might decide to try and lure digital nomads who don't have to pay rent anymore and are traveling around the country as they work. Or they may offer what's called leisure business leisure packages to people who want to work and vacation all in one trip. That may attract travelers like Henrik's who still has to make some work trips, on his last business trip before the pandemic, Henrik attended a weeklong conference of the American banking association in Orlando. Since his in laws live nearby, he used miles to fly his wife and kids down to Orlando, too. They rented an air-b-n-b near the conference and he commuted back and forth via lift. Still, the American banking association is holding the same conference this year in Tampa, but neither Henrik nor his family are attending. There is a silver lining to Henrik's traveling less frequently, though, he says he's spending more locally..
"american banking association" Discussed on Radical Personal Finance
"To have a long string of credit card transactions than it is to have a whole bunch of cash and the merchant does that generally speaking most of his customers will pay more and spend more when he is allowing them to Pay with a credit card which is why in the united states generally I it's you know there's no such thing as minimum purchase requirements. really anymore. right you don't go into a store and it says you have to spend at least ten dollars. Swipe a card and go in and buy something thirty seven cents in the vast majority of places for a card and so we have voluntarily made those choices. that's the first long term trend and most of us aren't gonna change where not going to go and change back. Most of us are not going to start carrying around wads of cash and spending physical currency We're not and so that is known. This provides first and foremost an amazing paper trail that tax authorities can already use. For example a an irs auditor already has the legal authorities to subpoena all of your banking transactions. Every single one of them every one of your credit card transactions from every one of the financial institutions in every one of those financial institutions. We'll turn that information. Over to the auditor in the audit process and so there's already an appreciation of how much data there is there and most people who cheat on their taxes will find themselves hoisted by their own petard of their transactions. They have systematically done and auditors extremely skilled at finding out what's there. I've read several of the audit. Manuals that the irs has published for its auditors in different industries and the auditors are really really good. They've figured out all the tricks and they can usually find a way to to identify tax evaders based upon the numbers of their industry the second big trend however has gotten easier to absorb catalog and analyze electronic records for most people. It's not difficult for your bank to automatically. Keep all of its records electronically. They're already doing it. It's not difficult for the taxing authorities to create a conduit for the bank to send that information there. And so while at the moment the american banking association and the credit union associations etc are are are objecting to this. At the end of the day. they'll roll over. They have always ruled over picked. Patriot act right. Remember what happened. Congress came out and established all kinds of new things. Bankers roll over to today. Every single person working in financial services and any level in the united states every single banker and bank employees every single credit union employees every single insurance agent every single financial advisor every single person that interacts with the financial system. In any kind of licensed capacity is already an unpaid spy for the us federal government each and every person every single year. We'll take classes on how to spy for the federal government you take an anti money laundering course and you learn the red flags to look out for and every single bid of that data is already there and so why why conceptually. If bankers have already agreed to send every year ten ninety nine's f if employers have already agreed every year to send information on their w two reports for all of their employees and to send ten ninety nine. They've already agreed. Then what's a little bit more who's actually going to stand up and say no. It's not. It's too much going to stand up and do that. They've already agreed to it. And they're already well trained for it and there's no ability for anybody to do it. You know that if you don't have your annual anti money laundering and know your customer class than you know you're running afoul so they're already paying compliance officers to to do the job to make sure because that stop terrorism and money laundering attack evasion. And so it's already being done every single year and so what's a little bit more. They'll say they don't want to do it. But at the end of the day of congress passes it the bankers will roll over and do it. There's no expectation of anything else. And i remind you again all of your all of your information that you tell to any banker all of your information that you tell to any Any financial advisor. Any insurance agent. All of that is already a sustainable by someone who is suing you so for example. Let's say that you go to your friendly local bank or insurance agent and you made a couple million bucks in crypto and you say hey you know what listen. I made a couple of million bucks in crypto last year. And i sold it man. It was great but you ought to get involved in. Its then that financial advisor gonna walk away is gonna open up his case notes. These insert in there in his case notes and he walks away from the meeting. Hey so and so made. A couple of million bucks in crypto. Is there an opportunity here. And then of course if you're being audited or if you're in court or somebody is searching for information they'll get a subpoena. They'll come to the financial advisors office and they'll subpoena the tax wreck the record all the case notes and your financial adviser will turn over all of his case notes to the particular investigator and all of that will become a matter of the court record available to the attorneys and the auditors etc. And so that's the system that's already done and it's a system. Based upon compliance. And so there's only a slight additional measure to go with a partway measure like this now. The headlines might temporarily make some people upset right headlines. Here's the daily mail article from a few days ago. Why are they snooping on an average over a six hundred dollar payment furious biden tries to let irs snoop on your bank accounts sven mo..
Bitcoin Plunges Below $40,000 as China Widens Its Crypto Crackdown
"Tuesday the national internet finance association of china the china banking association and the payment and clearing association of china all issued a warning that consumers would get no protection from losses related to cryptocurrency investment transactions and financial and payment institutions are advised not to use virtual currency for most purposes. You'll see this being called a ban because it's essentially the same as if you're like. You really shouldn't do this because it's you know you're not gonna get any of our support and these are organizations. It's just short of a ban and is effectively going to end up being as if there was a band and that's important because about three quarters of bitcoin mining happens in china if your mind and all that bitcoin and suddenly you can't use it for anything inside your own country doesn't mean you can't make money off it at all but it makes it more difficult so this is the straw that broke the bitcoin. Camel's back wednesday. The price of bitcoin fell below thirty. Four thousand dollars for the first time in three months. Other currencies like theory does coin and more dropped as well and coin market cap estimates. The entire crypto market shrank by twenty percent between tuesday and wednesday. Now it has come back since then to be a more well. It was seventeen percent earlier. It's nineteen percent recording. This is why we don't like covering these things because it changes from minute to minute but it's a big drop and we normally wouldn't cover these kind of fluctuations accept that everybody was talking about this. I guess because it was so high and it had been starting to get more attention.
"american banking association" Discussed on News Radio 1190 KEX
"Dr. Steven Thank you so much. Paul. It's been a pleasure. Congress is considering a new relief package for the economy, President Joe Biden says it's important for it to be larger rather than smaller. We have learned from past crises. The risk is not doing too much. The risk is not doing enough. Oregon Congressman Earl Blumenauer joins us on local voices. What would you like to see in the next relief package? Well, person foremost we have to have the resource is To be able to deal with Corona virus crisis We've the Biden administration is trying hard to wee girl to account for the The disaster that we've seen with the Trump administration. Not having a plan. Not putting resource is we've had serious serious problems in terms of state and local governments being able to respond and having confusing messages. Being able to get this right to be able to get the vaccine in the people's arms and to help state and local governments and health care institutions to be able to deal meaningful E with the coronavirus. This has got to be Job. Once second, we've got to be able to move forward with the economic relief. I've been working hard as you know, on our restaurants Bill that's got broad. Bipartisan support in Congress. We need desperately to step up and deal with this vital sector of the economy, both in Portland, but across the country, this they have been hit harder than any other sector and we need to be able to help them survive. Over the course of the next few months a year from now, things will be returning to normal, But we've got to make sure they don't go out of business. In the meantime, last but not least, we need to work hard to rebuild and renew America. There is broad support for infrastructure investment from the public. We have vast unmet needs, And this is probably the quickest way to put a million or two million people to work at family wage jobs in every corner of the country. Those air my priorities, and I think we have a recently good chance. Working with the Biden administration and the new Congress to deliver on them as far as the infrastructure package. What would you like to see in that or how? How much help my larger to be? How much money should it include? Well, we've passed out of the house in the last Congress package that had a trillion and a half dollars. It covered everything in terms of roads and bridges. Water. Uh, Internet broadband Internet we find out is essential infrastructure and too many of American families. Do not have access to it. It's been a critical problem in terms of online learning. We have a problem with the electrical grip there. Our infrastructure is a broad. Category of investments that will make a difference across the board. And I think it should be at least a trillion and a half, maybe more. We could spend it wisely and quickly and benefit everyone in the next stimulus package. Will there be additional relief for renters? Or will that be something separate? It's It's not good we have had, as you know, we've had some initial success, but we have people who are in freefall. There's going to be a problem in keeping the payments for unemployment going. Relief for renters for small businesses meeting those obligations of the problem that we have is that we've got to bridge the gap. We've had this huge impact things will be getting better. The vaccine will make a difference, but in the meantime, we've got to make sure that people don't get lost. In terms of the tidal wave of economic disaster. Being able to help families and businesses stay afloat. Make the progress. Ah, year from now we will be returning to normal. But in the meantime, we can't have another wave of Closures of convictions of people not being able to pay fundamental bills, and that is Within our capacity to remedy. Another issue that you've worked on extensively is laws concerning marijuana businesses. Where does the legislation for marijuana businesses standing in particular their ability to do business with banks? Well, we passed of bipartisan legislation that fixed the banking problem. It was not something that Mitch McConnell, the Republicans would allow to be voted on, although if they did, it would have passed. There's broad support. We're solving this problem. We have support of the American Banking Association, the credit unions. It's not just the marijuana businesses, the whole range of people who know that this needs to change. We passed sweeping legislation in the house that pointed the picture points. Pro legalization. Uh, this is a new congress. It has to start over. But there has been a very significant developments since the election in five other states that have moved to legalize. On these air states. Four of the five were red states, so the public is moving. We've got momentum. We've had legislation we've been able to get through the house. I'm hopeful that with the new Congress in the new administration, we can continue on this path. The progress because this is whether the American people public is This is what the industry needs and camped. Italy is a shot in the arm for state and local governments having extra revenue that will help them deal with the challenges of today. What other priorities do you have for the rest of this year? Well before me first and foremost, it's going to be advancing on agenda that deals with finishing the challenges of the health crisis. We've highlighted health disparities. Um, that impact of minority communities. Black Latino, Asian. Uh, they have disproportionate impacts. We've also made some progress with legislation dealing with The disparities in terms of law enforcement and criminal justice. There are huge differences in terms of how people are treated. And it's time to have a reckoning for racial justice. These things that have impacted us here in our community in our states and nationally. There are items that simply cannot be swept under the rug and ignored. I hope that we're gonna be able to build on some of the legislation that passed in the house. That would be able to work with the Biden administration to deal with the racial healing and justice reform on the impeachment trial of former President Trump with him out of office tactics a little bit about why it's important to proceed with that trial. But we've never had an insurrection in the U. S capitol like this. And we way haven't had an attack on the U. S capitol for 200 years, and it was led by the president of the United States. I was in Washington, D. C. During this horrific experience America could see on television where he was urging the writers on and he's been feeding their paranoia about an election that was stolen, which is absolutely untrue. And a number of red Republican states have refuted is phony narrative, and this put American government at risk exists, urging this crowd to attack. Congress vice president. Hint. Was in the crosshairs..
"american banking association" Discussed on WHAS 840 AM
"Monday, keeping it lively as we roll through. Let's Talk to our friend Jim, Right. Hey, Jim Ryan. How you doing, buddy? Good morning, and you were doing great. Had a great weekend. Listen, I want to talk to you. It's National Cyber Security Awareness month. Bankers or start to take the Ah, the opportunity educators on this, but this is a big deal. It's of frustrating deal. Anytime you get compromised. Tell us what's going on with the American Bankers Association and the steps that there ah, that they're taken. What you know, Obviously, the A B A has a vested interest in making sure that people don't get victimized by this. There aren't phishing scams that their customers were other Americans are faced with a lot of times. It's the bank that loses money right so that they launched a public education effort. Then for the first time, it's the first time we've actually done this kind of thing to try to cut into fishing scams or other kinds of frauds. They're using humor in some of the videos that they're putting out. You're going to see some of these spots pretty soon, Public service announcements on TV and online because online where so much of the scanning is taking place. But the premise is this. The person calls you and starts asking you bizarre questions like do you wear boxers or breathe? Or should I get back together with my spouse, etcetera. The point being that the bankers are not going to ask you questions like that. They're also not gonna ask you for Your personal information you're here. You know your bank account information, your social security number, these sorts of things. That's really how people fall into this trap. They'd give up too much information to somebody who calls End up being victimized, losing sometimes thousands of dollars. Is this an overseas issue? Or is this a domestic issue? I would think that because you see these videos in India of these gigantic rooms where they all have the headsets, and all they want to do is hit one for 1000 or one for 100. They make money that Dae so is this. More of a offshore issue are domestic. Well, it's both you you'll find rooms just like that, you know, call centers illicit call centers in this country, But, yeah, you find them in the inn, Russia and China all over the place. Iran has been kind of a hotbed for this kind of thing as well. And so, yeah, And obviously if it's in Iran or in desert by Jonah wherever they're well beyond the reach of the Justice Department, so catching the people responsible is difficult. Retrieving your lost money is even more difficult. So that's why the American Banks Association is trying to get in front of those two to see if maybe they can cut into it this year. I wonder Jim Since it's an election year, it's a different kind of October with November 3rd right around the corner. If people are maybe because the requesting mail in ballots absentee ballots if it's not a time for people to call and say, Well, I heard you asked for a ballot. So you need to give me your Social Security numbers. You can prove we are You probably just gave somebody a great idea right there. That's what I do. They're calling, usually posing as a bank employee telling you there's a problem with your credit card with your bank account. You need to verify some information. Then that's where you get tripped up. But certainly that would be another avenue of you know this being an election year and mailing ballots so much in the news right now, when people don't know all the details about that, and so Sure, sure. I mean whatever method they can use the scammers going to try it, and unfortunately, I'm sure some of that's going on and very many cases The victims are older people and with the least to lose, really. Jim Ryan. We appreciate it as always. Stay safe in Dallas, Texas. We like therapy again. See, buddy. Appreciate guys. Good guy right there, man, Man. I had a buddy in it again. Those calling centers are one thing too are they're They're just they they do by attrition, So they're just 1000 calls an hour and if they get 1%, they're making money. But I had a guy that had it. He was owned his own business, and he has a second dairy loan situation or he just pulls from that cash when he needs it for his business, and he got $30,000 taken from that. And this this was placed was out of New Jersey. And this this guy that was doing it was one dude in New Jersey. He had all of my buddies, cellphones and his work bones afforded to his phone in Jersey. So if anybody called that number to confirm the loan Then they would he would answer the phone and that's what happened. That's so on jersey like I just right, so he gets $30,000. The guy gets $30,000 and then tries to get the second amount. But he calls it different. One of the banks called and said This doesn't sound right. I don't know, Dave. Don't think Dave's going to do this. So he called And they caught the guy, but the guy was like laughing at him. So then Dave, my buddy called the number his own number, which the guy answered and the guy that laughed at him and said, I got your money. I didn't get the second one. But I got your first one CEO frustrated and of course, insurance and And the bank covers it. But the fraud is so it's crazy. What? How could that guy go online and forward your number? To his number. So if somebody calls to confirm the loan you can you can approve it. I've had my card compromised a handful of thyme door every time it just blows my mind. I want to thank I want to think. How can the credit card company I don't see how companies could get people get away with it because it seems like he would have to have some kind of a brick and mortar and apply for the ability to use Visa, MasterCard, whatever, where everyone is tied to whatever they're they're running this car through well, and usually the banks are good about catching stuff. But we had one time we looked at our bill. It's like what is this? And there were, I think, 12 $199 wire transfers out of the country. You and I talk called the bank. It's like this didn't raise any red flags you that I'm sending $1299 checks to Colombia..
"american banking association" Discussed on New Jersey 101.5
"That coming up in just a couple of minutes it does appear that massive fire in bound brook was deliberately set and there has been an arrest Patrick leverage joins us live with the latest this morning Patrick Eric Somerset County prosecutor Michael Robertson says cameras captured the defendant a bound brook resident walking in and out of the construction area before the fire broke out as a result of the investigation on Monday January thirteenth of twenty twenty defendant Juan Hector Padilla was arrested and charged with second degree aggravated arson third degree hindering the investigation and providing false information charges in addition to our sin are likely against Padilla developers of the construction project have committed to rebuilding already starting demolition my central Jersey dot com reports several go fund mais have popped up to support victims Eric all right Patrick thank you I DO Jersey mom charged in her daughter's death has been released from jail thirty four year old shame morning is to stay in our home until trial prosecutors say movie gave her eleven year old opioid pain medication as well as anti anxiety and anti psychotic drugs she has claims you believe your daughter had the same medical condition she had but didn't say what that was investigators believe the drug cocktail killed the girl body found between a futon bed and the wall a bill that bans all flavored vaping products in New Jersey could be signed into law in the coming days critics claim the measure is over the top and will force hundreds of vape shops to close and thousands of people to lose their jobs Gregory Connolly of the American banking association based in Medford says if the new vape band bill was signed it will not take effect for ninety days which would give lawmakers the chance to improve the measure we're hopeful that we'll be able to work out some common sense solutions that keeps these products around for smokers while making it much much more difficult for you to miss you yes paving is less hazardous than smoking cigarettes and baking related illnesses and deaths have been caused by black market products David Matthau New Jersey one a one point five news how many jerseys first news five oh eight among the state of the state topics for which governor Murphy promised action of the your future Jersey transit which he says he is moving in the right direction he will soon revealed long term plan governor Phil Murphy says NJ transit will soon announce for the first time a ten year strategic plan and five year capital plan it's a transit system doesn't know where it's going it's never going to get there that's what our strategic in capital plans will change Murphy says plans will provide a new set of standards to track NJ transit's progress which he says is already begun saying cancellations are down on time performance up assemblywoman Nancy movie says she disagrees we have not seen improvement we need to see an improvement at the state house Michael Simon's New Jersey one a one point five news a private school therapist has been charged with molesting a team student in her home thirty nine year old terra card deli is accused of inviting the student or hall on several occasions in order to engage in sexual activity she was employed author as a therapist in a private school in Paramus investigators will give the name of the school Iran's president is warning European soldiers deployed in the Mideast may be in danger after Britain France and Germany challenge Teheran over breaking limits of its twenty fifteen nuclear deal this marks the first time Iran has threatened Europe amid tensions with the U. S. which unilaterally withdrew from the deal in may twenty eighteen under president trump Iran's top diplomat meanwhile says the protest in his country erupted after people were lied to for day years about the Ukrainian plane shoot down an ocean county teenager is being tried as an adult for the murder of his mother prosecutors say seventeen year old Edgar Diaz stabbed his mom to death in front of his younger brother at the deer chase professional park in Toms River he's been held in the ocean county use lock up since his arrest last August another Jersey county is offering an event for fugitives to come clean and at the same time access services that could help them get their lives back on track and municipal warrant resolution program is scheduled for Friday the twenty fourth in west Hampton for individuals attempting to avoid arrest for an outstanding warrant in Burlington county we're talking about a low level of French nobody who's failed to appear on a D. W. I. is going to get the case dismissed judge Glen grant administrative director of the New Jersey courts says one folks don't resolve fines and a bench warrant is issued they can't seek housing or employment similar events with services for treatment and mental health on hand have seen a turn out in Mercer and the five southern most counties do you know for me New Jersey one a one point five news already jerseys first news five eleven the Philadelphia Eagles have nominated a South Jersey high school coach for the don Shula NFL high school coach of the year honors it was Camden highest Wayne savage that help keep everyone safe as gun shots rang out of the football game in Pleasantville the shooting killed a ten year old boy six ABC reports savages a lifelong eagles fan which makes being nominated for the honor that much more special the trump campaign is refusing to say how many tickets if any still remain for the president's rally in Wildwood at the end of the month thousands are expected to attend at Wildwood convention center we told you about local bars cashing in with pregame festivities now it turns out hotels and motels are taking advantage as well even to start motels are selling rooms for as much as a thousand dollars a night somebody.