35 Burst results for "Fdic"

"fdic" Discussed on Consumer Finance Monitor

Consumer Finance Monitor

04:10 min | 3 months ago

"fdic" Discussed on Consumer Finance Monitor

"In. The FDIC determined to add that last phrase in whole, or in part to support securitisations in the sales of participations, and to alleviate the issue of whether the transfer of a loan full stop would contemplate a the the sale of transfer of a of a partial if you will interest in in the loan or part of the bundle of rights, that a creditor has under the loan. So I. Again, the rationale for doing so was very similar to that of the O c. see one of the concerns that they you know I. They were careful to say that they were codifying longstanding guidance in this area. Like the like the OCC had again, we were discussing some of the market uncertainties that the you know that the current state of affairs had with respect to valid when made. It was really attended to address that marketplace uncertainty in to quell it. They also had a concern that in the event the FDIC would have tate would take a bank into receivership and would be in the position of having to sell assets. They wanted to be sure that they would be able to price those assets at that the traditional valuation of those assets. Assets and not have have discounted because of concern over a valid when made and then finally it, in terms of supporting the civility of the financial system the FDA recognized that in addition to its duties as a conservator that there was the other to provide assurance to the marketplace regarding a buyer's ability to to charge that same interest rate of. So those are the main rationales in the main points of the rule I will point out that that the FDIC rule when beyond this most important change. In at provided other provisions in par three, three, one, mainly to codify existing law with respect to a interest rate parody between state, Bank and National Bank branches that are located in hosts states that had long been the law. There hasn't been any implementing rag. They took the opportunity to do that again. To further strengthen the parody between exportation and. In Interest Rate Brampton of that is typically been unseen between the State Chartered Banks under the AC and national banks under the National Bank. Okay So, Let's turn now to the so called Trud Lender. Doctrine and I'm GONNA. Go back to you bland on that Could you describe? What. That doctrine is all about and. And, how does it differ from the so-called mad doctrine? The truth lender. Doctrine is the other Arrow in the quiver, if you will of the state regulators and Agee's and consumer groups that seek to attack the the back model, thank sponsorship programs that we've been discussing. The concept generally is that. In the scenario that I had described earlier. The bank is really not the true lender. They're they're apply. They're approving alone. Then immediately selling it off to the say the online provider and online provider is typically providing the servicing in the marketing and all of the other aspects of this product that in fact, it's a sham that in fact, it is not the lender. The bank is not really the quote, true lender, but rather is the online provider. And why are they making that argument? Because by by switching out who the actual lender is, they no longer can. The provider can no longer rely. Rely on the fact that it was a say, a national bank or a state back the had made the loan, and therefore can't rely on the preemption authority that those banks have therefore they are then left with whatever state they're operating in and the usery laws that may be in effect in those states and can find that though.

National Bank FDIC Trud Lender State Chartered Banks OCC Agee tate FDA
"fdic" Discussed on Consumer Finance Monitor

Consumer Finance Monitor

03:10 min | 3 months ago

"fdic" Discussed on Consumer Finance Monitor

"Access alternative funding sources manage concentrations of assets and better meet customer needs and be able to lend. The OCC addresses the numerous comments it received on the on the notice proposed rulemaking, indicating that this this rule is not subject to the preemption determination requirements that were established under dodd frank in other words. It's not a preemption determination. It's an interpretation of federal law. And the OCC answer the question. Does this support predatory lending with a very strong statement that the OCC does not approve of predatory lending, and this does not support predatory lending and consumers are well protected by a number of mechanisms at the OCC sites. So that's the OCC ruling a nutshell. Okay, Let's go to Glen now. To tell us about what the FDIC did. Sure thing Allen the FDIC rule was just issued five days ago. So it's it's very fresh. Indeed, it is intended according to them to mirror the OC final rule, though the two final rules are are not identical in every respect, the the FDIC had posited that section twenty, seven of the Federal Deposit Insurance Act, which along with section, twenty, four of that act sets up the statutory framework for the ability of state, chartered insured depository institutions to enjoy parallel interest, rate preemption and most favored lender benefits that are permitted for national banks under under the National Bank Act. Act in they posited that the law contained couple of statutory gaps as they refer to them. I section twenty seven doesn't explicitly state at what point in time the validity and enforceability of the interest rate of a bank's loan should be determined for purposes of that section, the other gap that they perceived was a section twenty seven, while while expressly gives state banks, the right to make loans in the rates permitted by their home states the section doesn't explicitly list all the components of that right like the right to assign the loans made under the preemptive authority of section twenty seven. So one of the one of the rules that the FDIC put out really addresses. Both of those points by in their parts, three, three, thirty, one of title twelve provides that whether interest on a loan is permissible under section twenty. Seven of the FDA is determined as of the date. The loan was made. And then interest on a loan that is permissible under section twenty seven would not be affected by a change in state law. A change in the relevant commercial paper rate after the loan was made in that language has put in because one of the permissible interest rates that can be charges based on a margin above the the commercial, the corporate paper rate, and so that carries through that language carries through or the sale, assignment or other transfer of the loan in whole impart..

OCC FDIC Federal Deposit Insurance Act dodd frank Glen Allen National Bank FDA
Sexual abuse allegations surface in fighting game community

The Center Ring esports podcast

07:06 min | 4 months ago

Sexual abuse allegations surface in fighting game community

"Once again, not the happiest of weeks when it comes to sports, I'm just. I'm going to be real with the listeners here new age. Not The happiest of weeks we had an ups and downs right like after it. I say weeks. It feels like it's been weeks since our last episode with all the news that broke and. A couple of days. We've basically seen whole gaming community after we did A. Lovely Documentary Review. I felt like on one of the best documentaries I've seen right the smash brothers a lot of fun to do that in watch it in and then to see all of this as like well. That community just killed itself off essentially now. with on I'm sure with you know. Obviously. News is changing every single day. It does look like it's more of the ultimate side. It seems like it's more of the new school. Kids and not so much the crowd, so maybe we'll give him that. Maybe that's just me with my Malay glasses on like i. just want those guys to be good I. Don't want them to be pedophile and shit like that, but that's what gets me right. Is We finish the show? Last episode. I mean it was more so just kind of still talking about sexual assaults around like counter strike in things like that, and like we said like what do we say like with doc? Right is look sexual assault or sexual assault. You never want to see it. You never do, but if in this world there's going to be bad thing so if you have to pick one like. Make it to where it's? And it's just you know whatever I don't WanNa. See Pet of I. DON'T WANNA. See Pedophile. That's where I get emotional. It's where I'll get upset and it's not really fun to talk about and Lo and behold the FCC was like. Hold my controller. Watch this and it's like you. You saw one story news and you're like. shed. That's bad, and then like another one came after you're like. ooh, that's actually worse like I don't understand like. We've gone from words to action all of a sudden. Words are bad enough. And that it wasn't even like you saw one thing, and like okay, and then it was like everyone would tweet like. Oh well, this person knew about it. That person knew about like everyone in the smash scene, and the fighting game seemed kind of loosely knew all of this was going on the whole time. But regard for whatever reason ever said anything or never felt like they were in the position to, or they felt like it should have been handled behind closed doors which I'll say this because I've seen some people tweet out about it Richard Lewis. This is like he's loving. This in the sense of he can finally take shots back at the FCC for how they treated him with illeg, which was awful like. We've talked about on the show. Before the way, the FCC response to outsiders, coming in is like the worst I mean hell. We've even seen it trying to get into some of these fighting game events where they're like. No like you guys aren't exclusively talking fighting each sport, so we can't have you in the FTC event, look. Bad about Yvo. Part of that crowd. Reason no reason yeah, so there's there's that, and this is not though in my opinion, even though this episode is pretty much going to solely be focusing on the FTC, I don't think this is an FDIC issue. I don't think it's a smash. Brothers community issue. I just think this is an issue like I. Think there's something that got out of hand in a group of people it's. The numbers are a little bit more staggering, obviously, upwards of fifty people involved and counting right. Yeah, like I mean it feels like it could potentially be the start and I feel like more stories and. victims will come forward, but. It's a little bit. It feels a little bit more prominent to me. In the in the community of FDIC at the moment compared to others like it's been spread out everywhere else you know like it comes to streamers, but streamers are not. Like their their own, also their own community, right big name streamers, so I guess you could say that that community is also flawed in my eyes, but that's not. As surprising just based on like the personalities and all that kind of take place in Edgy, sees kinda known to be like more like socially awkward in. We've set it on the show like I don't think you have to beat around the bush. especially. This time I feel like. If you got your shots, shoot them right. The FCC is weird. And before that was always kind of I said that as a compliment right like almost like. Hey, take it as a compliment, you guys. Are Weird. You really love your anime. You like your firs-. Your neck owes whatever your I get it. I get it put. It's your thing and whatever right? You guys are happy with it. You're weird, but it's okay. That's who they are. Exactly that's that's who they were. They were a different side of e sports. And now it's kind of like. Oh! No now it's weird. It's like the tone on that Tad different with me now where it's like. Okay I. You know as creepy it's. Weird alike it's a full of a bunch of creeps again. It's not everybody so it's not a blanket statement that we're talking about. Here is just the fact that there's so many players accused so many big name players accused. You saw people like in the. Narrow situation in particular like you saw people like. Telling them to do it, you know that the conversation that was leaked the person at blurred out the name, but they were able to figure out who was drawing a blank on that now, but they were like instigating them in like. Saying like yeah, this is like this is how it is like. This is okay. You know in, so you know. A lot of people knew about what was going on behind the scenes. Hell like these events are significantly smaller. These people are always together when they're going to them. Some of these events are like home style events. Still you know and so It just. Leaves a really bad taste in your mouth, because of not only the the high volume of people. It's the people that are involved. They're high profile individuals in I. Think the fact that it seems like the lot of the community knew it was happening. In worked trying to stop it or weren't helping out,

FCC Assault FTC Fdic A. Lovely Documentary Review Wanna YVO LO Richard Lewis Illeg
"fdic" Discussed on KIRO Radio 97.3 FM

KIRO Radio 97.3 FM

03:09 min | 6 months ago

"fdic" Discussed on KIRO Radio 97.3 FM

"This was the plan member FDIC thanks to their drug are run on our top stories will go over the reopening plans I'm very excited we have a car tab update Mike Lyons will join us to tell us what we now know about the Theodore Roosevelt incident and and a lot of the Cornell glee club who I sang with has repurposed Dave madrigal for the age of isolation K. I. R. O. F. M. Tacoma Seattle CBS news on the hour presented by Capital One bank I'm Steve K. fin in northern New Jersey the federal framework is now out there to get the nation re open for business again governors have to decide what's best for their states when the corona virus pandemic begins two weeks we're starting rejuvenation the president says several states are in his view ready to be re opened now he even said in some parts of the country people might soon be attending sporting events you'll be able to have those fill arenas the plan calls for governors to phase in the re opening after cases have declined and testing is robust you have to pass heard Dr Anthony Fauci warns the virus could return even after all three phases of the new guidelines are implemented it's not okay game over it's not Steven Portnoy CBS news Washington post CBS news medical contributor David Egan says there are risks by loosening restrictions in certain places and keeping them in others what I don't want to see happen is one county relaxes because a few cases and everybody goes out to dinner from the county over and spreads the virus there those kind of things certainly worry because the president did say it doesn't have to be a whole state policy governors can do it county by county in the virus hot zone New York City mayor bill de Blasio seem more encouraging signs in city hospitals this was a good day definite movement right direction not a perfect day yet we want to have those really clear positive days good days moving in the same direction over the course of ten days to two weeks New York state rules requiring face coverings in public places go into effect today thousands of American troops are still in Iraq training local security forces but as we hear from CBS's Cammy McCormick it's a little different now thanks to the virus pandemic the U. S. military says the fight against ISIS is continuing the U. S. supported Iraqi forces with air strikes during a recent operation but there were no advisers on on the ground and due to the corona virus outbreak the U. S. military now says it's using drones to observe the Iraqi training some NATO countries have pull their troops out of Iraq China's made a revision that added thirteen hundred people to the virus death toll in Wuhan where the outbreak got it starts Asia correspondent Ramy Inocencio sequencing one news citing late or missed reporting of deaths overloaded medical staff and sick residents who died at home and who hadn't yet been counted criticism of the new official data quickly followed though with many accusing China of continuous under reporting that China says it's a comedy Connie that is shrank nearly seven percent in the first quarter of the year Wall Street right now the Dow is up four hundred.

FDIC
FDIC warns of scams saying banks in trouble from outbreak

AP News Radio

00:35 sec | 7 months ago

FDIC warns of scams saying banks in trouble from outbreak

"One scam is a claim banks are limiting access to customers money the FDIC says there's been an uptick in calls text messages letters and emails from scammers pretending to be FDIC employees using names of people actually work at the FDIC they say there are security issues with bank deposits the FDIC says they're out to get bank accounts and other personal information no depositor has lost money since the FDIC was created in nineteen thirty three because of the corona virus many banks have shortened branch hours or are pushing customers to use online banking I'm at Donahue

Fdic Donahue
"fdic" Discussed on KYW Newsradio 1060

KYW Newsradio 1060

02:01 min | 8 months ago

"fdic" Discussed on KYW Newsradio 1060

"FDIC the name is losing her who's your real name Simeon woods is been described as one of the biggest faces of the new age of rap music in a recent interview he was asked about where he got a stage name he said that when he was starting out some random guy told him he rapped fast like a machine gun from that common Lucy was born he added Virginia and at a later time which she says means straight to the top from the medicine student loans more experience more accuracy that precision medicine and medicine all news and all that matters to you drive through corona virus testing is coming soon to Montgomery County though details are still being ironed out as the number of confirmed coronavirus cases growing Delaware County officials look to neighboring Chester County to work is better health department medical personnel set up a corona virus testing site outside of citizens bank park you see content tends hazmat suit I'm a doctor's note end of bounce back today for stocks the Dow gained one thousand forty nine points the nasdaq jumped four hundred and thirty and it was a one hundred forty three point lead for the S. and P. five hundred overnight clearing and chilly low thirty eight Wednesday mostly sunny very nice with a high of fifty S. news update health care workers on the front lines of the coronavirus Italy is in the middle of the crisis.

FDIC Simeon woods Lucy Virginia Montgomery County Chester County Italy Delaware County
Pension Time Bombs

Rich Dad Radio Show

08:17 min | 8 months ago

Pension Time Bombs

"Today our subject is It started off as a five piece. Subject is called. Who stole my pensions. And the more we do these things the number of people coming out of the woodwork. Who went to tell their stories about what happened to the. Pensions keeps growing. So let's start off as a five program of five unit program is now going to ten and the reason it's important for all of you. Listen to this. You know the story about the pension time bomb is because it is the biggest story that nobody knows about. And it's only now making the news. And the reason pension time bomb is so important because as much like this corona virus and all that is a systemic problem like chronic viruses. About you and me. Getting the SNIFFLES. It's about the whole supply chains breaking down all over the world which will cause crashes all over the world. This is number three as start off as a five unit program and now it's expanding so app some very exciting people who just want to tell all and let the world know how this pension program is going to blow up and it's GonNa bring down the biggest crisis bigger than corona virus bigger than the subprime of two thousand eight and Becker than they Student Loan Program simply says you've been ripped off. That's that's really what's happening here being ripped off and one of the ways that Wall Street the US government and the banking system. Reps this office via our pensions so stay tuned on the Rich Dad. Show have more of these programs come to let you know how Wall Street the government and the Crooks of the world have been stealing our wealth via different vehicles and our this vehicles pension. One of them is student loan. One is your home mortgage one is the stock market. So this is a very important series of programs started off as five and what might stop at ten whenever no so our guest. Today again is tense Adele. Here's my co author on the book. Who stole my pension and our second gases. Mark Rain and Mark. Green is in the book who stole my pension and mark is a thirty year veteran a ups driver from upstate. New York he is former. He is formerly the organizer and president of the Teamsters Alliance for Pension Protection Aka T. a. p. p. a. grassroots pension watchdog organization mark led to raise funds to perform the first ever forensic investigation of a union multi employer plan the New York State teamsters conference pension and retirement fund. They are robbed blind. So Ted. Let's start with you because you're my co author on who stole my pension. Please give them a little little bite. Your background about why you and I are interested in pensions. My Dad didn't have a pension poor dad and your dad that have a pension so please introduce yourself tent and then how you got interested in. Pensions sure thanks Robert. My background is I'm a former. Fdic attorney and I have done over a trillion in forensic investigations of pensions. And some of the first investigations. Ever done and one of the things that I uncovered it in these investigations. Is that the reason these pensions were? Failing was not because not enough. Money was going into them or the benefits. Being paid out to workers to rich was because the people running the pensions were grossly. Mismanaging the money what we call Bros. Malpractice generally crafty and For the investigation ideas more threes. Pensions The New York State. Teamsters pension is in the book In the exhibit to the and that was the first forensic investigations of over one hundred. Twenty one multi employer pensions. That are going to be taken over by the government and so that was the first one that was ever done so and also You know like my dad lost his pension because of corruption again in government and he ran for Lieutenant Governor of the State of Hawaii and got crushed and lost his pension. And what up until your dad? My Dad was working in the intelligence community so he disappeared in nineteen seventy one in east Africa and it turned out he'd been murdered in Africa in doing an investigation for the American government of being the brutal dictator so since he just could not be found his life insurance wouldn't pay social security wouldn't say his state couldn't be pro baited so there was nothing available for those of us in the survivors of the family. Also so he had no mention either so so one of the reasons I think Ted ireson paddock. Oh you know brothers on this project. A book called. Who STOLE MY PENSION? Is that our fathers. Had their pensions taken. And we're very concerned at this moment. There's many mothers and fathers who will find out if if they already have not found out they have no pension and that's why the but it's more than just a pension is the ripple effect like the corona virus is going to have upon the whole system of the world economy so mark grain Plea thank you and welcome to the program. And I'm glad you raise the money to hire Ted's saddle to go in after the pension so tell us your story Mark Place. Thank you for having me on. I really appreciate you guys working on this project and bringing attention to this pretty serious issue which is affecting us in upstate. New York and of course the whole country so You know how I met Ted. You know it started back in two thousand ten actually the story. We have to step back. A little bit are fun. Started sending US letters in the mail saying We were under sixty five percent funded which is critical status so there was a law passed under the protection. Act of two thousand six. It said the trust. These hasn't make benefit cuts and implemented funding improvement plans. So that's what we first started forming committees. That's when I started getting people together calling attention to this problem and we saw a lot of irregularities with the trustees with telling US misleading statements and we call them out on so as the years went by kept saying. There's enough money in plan to pay low the commerce fabulous and you have nothing to worry about. That's what they were telling people publicly. This is thirty. Four thousand member plan with three or four thousand families involved. Keep in mind privately. They were telling us that the fun needed a fourteen percent. Investment returns every year for the next ten to fifteen years just to break even and not take that step so we knew they were not being honest with the participants. So we had these meetings parking lot meetings town halls and we started raising money in two thousand sixteen to get some inter interventions and. That's where Ted Payments. So thank you ted. I appreciate your work on this investigation and unfortunately we find that the plan was grossly mismanaged and now. I can't retire. You know me along with thousands of other people can't retire because the benefit is way too low and so That's the story as of right now. We can't get the money back but certainly wants to reform of pension legislation to make sure this doesn't happen to anyone

TED Teamsters Alliance For Pension Teamsters American Government New York New York State United States Ted Payments Ted Ireson Mark Rain Sniffles Fdic Becker Adele Hawaii Mark Place Africa
How the Federal Reserve’s “discount window” works

Marketplace with Kai Ryssdal

02:35 min | 8 months ago

How the Federal Reserve’s “discount window” works

"I'm thinking the best way for us to frame things today. When just how different things are has now? Become so clear is do what we've done a couple of times. The past couple of weeks macro micro big picture to actual people in an economy that is coming to a very sudden stop. You don't get much more big picture of course than the Federal Reserve on a Sunday afternoon pulling out. Maybe not all but certainly a whole lot of the stops that had has that huge cut in their short-term interest rate that you have heard about Shirley and other big bond buying program echoes of the financial crisis to be sure also a cut in something called the discount rate short-term emergency loans dispensed through what is known as the discount window sounds a tad. We D I know but in reality it is so big picture because what we're talking about here is the Fed making some really big moves to keep credit flowing to households and businesses marketplace's. Amy Scott gets us going with what the discount window is and why it is so important in a crisis. Think of the discount window as a shot of. Wd Forty if advanced is short on cash to cover customer withdrawals or make loans it can borrow money short-term directly from the Fed in effect it's kind of keeping the finances lubricated during a stressful time banking consultant. Burt Ely says the problem is banks are reluctant to reach for the Kellyanne. Borrowing from the Fed is usually more expensive than borrowing from other banks and Joe Gagnon with the Peterson Institute for International Economics says that looks bad. I mean if a bank has to pay a higher rate to get credit it's usually because other banks are leery of landing to it so it looks like it might be in trouble. The Fed is trying to reduce that stigma by slashing the discount rate and by urging banks to use it and not add. Mahdi teaches finance and economics at Stanford. If they say well please come. Please come which they also did during the financial crisis. Then it's like everybody's doing it and it's okay and it's legitimate. It could help the J. P. Morgan Chase recently said it plans to use the discount window to help break that stigma. Gerard Cassidy an analyst with RBC capital markets says bank balance sheets are really strong right now partly because of nervous customers. There's been an influx of deposits for the safety of the FDIC deposit insurance. So I don't think the banks are going to be forced to go to the discount window but he says better to get them comfortable with the idea before. There's a real

Federal Reserve Gerard Cassidy Rbc Capital Markets Peterson Institute For Interna Fdic Burt Ely Amy Scott Shirley Joe Gagnon Mahdi J. P. Morgan Chase Stanford Kellyanne Analyst Consultant
Retirement Investments for a Steady Stream of Income

Purity Products

04:25 min | 8 months ago

Retirement Investments for a Steady Stream of Income

"What are some good investment strategies that we use for retirement income and their several of them search the list list let's go down the list and since the market so crazy this week let's talk about dividend stocks we use them a lot yeah I the thing is how do you possibly maintain your picture if you don't have something creating the withdrawals that you're taking and and that's the danger in not planning to use income producing things I'm not saying you should all be that but the dividend stocks can be critical because let's let's say you've got a million dollar portfolio new create four percent of dividends well me that's forty thousand a year just dividends you're not including capital gains by liquidating some things along the way so you would want something doing dividends and that's what we recommend in your portfolio you almost need to ask it's crucial to me and if you're one of these people that you know just cuddles up and next FDIC insurance and you're terrified of everything to do with the market we talked earlier about how low rates are ten years at all time low well you know that's gonna affect CD rates in money market rates and all that kind of stuff you'd be lucky to pull one and a half percent off a CD so where you gonna we're you gonna find that gap or you gonna start touching your principal is your drawing money down that I mean that that's just you're watching your nest egg get lower and lower and lower with every withdrawal you make and that's a scary thought so one is absolutely right it's nice to build into your plans something that's kicking off more income than you know the typical safe investments like CD's and even bonds nowadays yeah and there are companies wall street's call into kind of a cool name dividend aristocrat these are companies that have increased their demand for a minimum of twenty five consecutive years and and there's you know companies on there like AT and T. and Exxon you know I mean there are some good companies on there and in other words the they can't guarantee it evident in the future but they're reliable dividend plan payers and increasing Procter gamble I thinks up to like sixty five straight years so so when when things like Exxon and oil and gas sales go down which they've gone down dramatically recently remember those dividend payers and you know what I'll just bring in another point one of the privileges we have a meeting radio listeners as we some of them have advisors and the we see this in a more typically than we ever have the adviser has all mutual funds are all ETF science not emphasizing dividend but emphasizing growth now growth recently in recent years has been really good until this week anyway but there's not much not a lot of dividend paying so so anyway we believe an individual high dividend stocks says one source of cash flow yes Sir yeah and you know Warren Buffett said it best to me he says if you're buying a business and that's what stocks are you going to own the business for ten or twenty years and so and then he says the real question is has the ten year or twenty year outlook for American businesses changed in the last twenty four hours good question if you buy dividend aristocrat you're buying a dividend aristocrat for that purpose you'll probably hold it for years yeah yeah yeah yeah one thing to consider is when stock prices go down dividends are fixed we got a company that's worth a hundred dollars a share on the market four weeks ago and is paying a five dollar dividend span a five percent dividend if that company gets cut in half does down to fifty dollars a share it's still paying that five dollar dividend but now the dividend yield the percentage yield has gone up from five percent to ten percent so a lot of people don't realize that and then I found that for meeting with radio listeners that that percentage that the that the income equates to that fluctuates but the actual dividend itself that's a fixed and stated dividend that's going to continue on so it's important to look at that and those yields with stock prices compressing have gone up so it might make sense to you know seriously consider adding some exposure to this the side of the market

How Avanti Will Be a 'Not Your Keys, Not Your Coins' Bank

Unconfirmed: Insights and Analysis From the Top Minds in Crypto

05:42 min | 8 months ago

How Avanti Will Be a 'Not Your Keys, Not Your Coins' Bank

"One other question. When as he was. Who Do you expect your customers to be well for Vanity? We're going after the institutional market there are a couple of others that are hanging around the hoop and Wyoming who are going after the retail market. And we hope to be able to do some things with them if we all make it through the process and get our licenses. But there wasn't anybody stepping up for the institutional market which is where I saw a need in particular. The best example is the universities that would like to receive digital asset gifts from alumni but are not in a position to accept them because there isn't a third party that's willing to work with them to provide the services that they need for example under an in in the US under the custody rule. Asset managers are required by law to have a third party store their assets that the the management of the assets has to be separated from the custody of the assets and again the big custodians are FDIC insured banks so as a result were in that catch twenty two where there was a log jam that needed to be broken. And so I was GonNa ask you like who your competitors would be but I realized in a way. Maybe it's set your sort of forming a new category. Or would you say like are you 'cause Gascoyne base does serve some institutions right with Coyne? He's custody and stuff like that. Sure source her. I think the difference is the definition of institution. There are a lot of folks in the crypto world who look at You know small. Twenty five million dollar Crypto Fund and say. That's an institution and technically it is. But what I'm looking at is the markets that I came from earlier in my career. The Pension Funds Endowments Foundations Sovereign Wealth Funds. These are the really big money. Investors for whom the ASSET CLASS UP UNTIL. This point has actually just been too small and not investable will. Now we're getting to the point where it to the extent that Bitcoin does continue to go up. It becomes a bigger asset class. It starts to become too big to ignore and then they start looking around and saying where's the infrastructure. One of the other points that that I've noticed is that the the institutional infrastructure in this market isn't ready for primetime with these very big traditional big asset owner institutions again. It's more more aimed at the the smaller. More risk risk-taking institutions like hedge funds or small small funds that already exist and most most folks when they say there are institutions in Crypto. That's what they mean again. The big guys really are not there. They have a much much much higher standard of professionalism that they require and when I looked around at the folks that are that are that are serving the institutional market right now first of all their trust companies from a regulatory perspective and there are two issues with trust companies for the big big investors. One is that they're not directly connected to the Fed because they're not banks and there's a reason why stay straight and Bank of New York you know in the securities industry are banks. They're connected to the Fed and that's what the institutions WanNa see And then the other is that the the trust companies are that you don't know what your status in bankruptcy is and again. This is another one of the reasons why the banks win from a regulatory perspective. But there's a there's also another issue that I I started looking at the terms and conditions of the folks that are serving the quote unquote the institutional market right now and it is it to be honest in in some cases it's a joke There there's one that serving the institutional market that defines bitcoin as quote a digital asset. If they all of a sudden wake up and decide that bitcoin suddenly bitcoin cash and the customers go to sue them. They would have no claim in court because the contract was so vaguely drafted. There was really nothing promised. The four policy is another one where I was looking at one again institutional firm and the Ford Policy said that they had in their sole discretion the ability to follow a fork. If any and again what's the legal legally enforceable promise in the language there there's nothing So when when an institutional attorney and again I'm talking about a pension fund type of attorney starts looking at the terms and conditions in the contract. They're they're going to say look that that's not even close to the standards that I need. And lastly there's another piece of this you alluded to it in in your question. Why Oh Ming defined the status of digital assets under Wyoming's commercial law. We're the only state to have done that. And that would therefore the only state that would be allowed to start a bank because you have to know what the status of those assets would be in in a legal dispute again. This gets back to institutions needing to have clear clear rights and obligations in the transactions. And if you don't know what the status of the asset classes in a legal dispute. You're taking a lot of risk that a judge is is Is is going to determine a lawsuit you rather than in your favor and institutions. Just can't take that risk they also can't take the bankruptcy risk and again if a judge doesn't know what the exact status of the assets are under the law. Then then you don't know what your outcome is going to be in bankruptcy so all these things are important building blocks that had to get put in place before we really go prime time.

Wyoming FED Attorney Crypto Fund Fdic United States Gascoyne Coyne Bank Of New York Ford Policy
DC’s first new community bank in 15 years gets FDIC approval

WTOP 24 Hour News

00:21 sec | 10 months ago

DC’s first new community bank in 15 years gets FDIC approval

"A new community bank is in the works for DC founders bank has received F. D. I. C. approval and is set to become the first new community bank in the district in fifteen years its first branch beyond friendship heights founders bank is led by former bank of Georgetown executives bank of Georgetown was acquired by union bank in two thousand

Georgetown
"fdic" Discussed on Consumer Finance Monitor

Consumer Finance Monitor

06:10 min | 10 months ago

"fdic" Discussed on Consumer Finance Monitor

"I just be guessing. I I think I wouldn't expect to see a vital role in less than three months or so but It seems to me that this is a more discreet role making than others we've seen for example day Lung alone rulemaking. Where cycle to be controversial? Don't you think there will be a lot of consumer advocates and plaintiff's attorney's That may be involved in cases where this could have an impact I would assume They will not like what the OCC the FDIC you're proposing here. This will clearly be controversial. We have already seen blockposts from The plane of side or consumer advocacy groups that Really they're up in arms about the proposed any professor Adam. levittown add ED GW George Talent. I can't remember which one He's already written A pretty detailed blog post setting forth a His position Now he's I know didn't like the filing of the AMIGA spree and it doesn't like the proposed right here at all I guess just a concern I have the the agencies better get this thing wrapped up Before the end of the year probably early before the election But let you know assuming hypothetically We have a Democratic president next January changes will happen at the the OC in the FDIC and Just the gas. I'm not prepared to accept that your hypothetical but yes I I think there is you magic professor Lebanon. And he is a very bright guy and he Writes forcefully absolutely so It is incumbent upon the industry to have its advocates Put their best foot forward in support of this role in. Yes it if it doesn't happen this year before January There is at least posssibility that it will never happen. Yeah so assuming it gets finalized Jeremy This really happens. Do the problems in this area goal way or is there anything else left for us to worry about the so the browns do not go away away and There are many programs are out there where a bank in a nonbank Asian will will partner together to offer loans and other consumer financial products and these programs are subject to attack not only under the mad doctrine but also under a a a row called the true lender roll in here the Opposition says that while the longest formerly made by the back that in in substance. It's the non back that He has the greater financial interests the so-called predominant economic look interest in the loans. In that win the nine back does all the marketing does all the servicing and acquires the loan or the Overwhelming economic interests in the loan that each should be regarded as in substance. The true lender and since nine banks do not have the special usery authority provided by federal law than If the lender is required derived this the non-banking agent The parties to these programs are basically in a world of her. Isn't this an issue that you and I- litigated many years ago when payday lenders had partnered with Banks I think. At the time it was principally unsuitably national banks but there may be some state chartered banks involved and there had been a class class action litigation and I seem to recall. You won an important case the Hudson case. If my recollection serves me correctly was in federal court in Indiana. My there's no way you forgotten that case. It was a big case it was an important case and and yes. The decision was favorable to the industry in the court. Basically said this is not an area where piecemeal litigation should establish the rules that CAQ that the Supreme Court recognized in its leading case the Marquette decision that certainty was important to the banking industry. It further recognized that The protection of usury laws was a matter best left to Congress and the courts by establishing exceptions to The the principle that were outlined by Congress So that was basically what we argued in Hudson and the court adopted. That argument basically said that There were some superficial appeal to this idea of recapitalization but it was something best left to Congress in perhaps the banking agencies sees and and I felt that way ten years ago or when Hudson was decided in. I still feel that way I think there really really is a place for Congress.

Congress Supreme Court FDIC George Talent Hudson professor browns Indiana attorney Adam. levittown partner president
SEC moves to expand mom-and-pop investor access to risky funds

WSJ Tech News Briefing

00:39 sec | 11 months ago

SEC moves to expand mom-and-pop investor access to risky funds

"And more tech firms have been advancing into banking here to explain is the Wall Street. Journal's tell us tell us tech firms have been increasingly partnering with banks to offer financial products. Broadly why do tech companies want to be involved in finance tech companies. See an opportunity to extend their relationship with their customers through the device or through what they use for email or other things into their financial life and the vision is that the money should become something. Sort of seamless. To what you're doing so if you're sending an email and that email might be about Oh I owe you some money. Ah that money transfer could just be seamless with that email using your device paying for things You don't need to bring your wallet when you go shopping. Just bring your device ice. Just bring your iphone or your Samsung phone or whatever that might be so tech. Companies see an opportunity to further embed their products in your life by also tying them into your financial life. Google is partnered with Citi. Group apple has a partnership with Goldman for tech companies. What's the benefit of working with a financial institution rather than going it alone. So one of the scary things. Tech Company when offering financial services is the threat of being regulated by banking regulators. When they're offering those services that might have to cause them to radically addict changed the way they do business the way that they organized their company. It would be quite a big leap for apple or Google or whoever to suddenly just directly Gli go into the banking business or certain parts of the banking business by partnering with the Bank. They can have that bank. Do the highly regulated stuff and then an offer that service under their brand or through their systems. How exactly are these. Banking Tech Partnership structured. Is there a certain type of bank. That's more likely to win a partnership ownership with a tech company so far a lot of small banks have actually had great inroads into working with some very big tech companies. Green dot for example is one Pretty Small Bank. I think that actually works with some big technology companies like apple for example the advantage there has been that those small banks aren't necessarily trying to nationally you create a banking business retail banking business in the same way that a big bank like a city group or J. P. Morgan Chase or Bank of America might be and so that small bank might be willing to kind of do a lot of that behind the scenes work for that Tech Company and Big Tech Company might have some negotiating leverage over a small bank that it doesn't with a big bank let's talk about core deposits versus brokered deposits of the Federal Deposit Insurance Corporation the FDIC said that it wants to modernize how broker deposits or classified to account for changes changes in technology. How would it do that. And what purpose would such a change serve. How exactly a deposit is treated by. Regulators has been an issue for many years back in the nineteen eighties eighties. There were some notable bank failures because those banks relied on what are considered brokered deposits brokered deposits or deposits. Don't necessarily come in directly I e you you walk into the bank and you say I'd like to be a customer. Here's my money. They come in through some third party that might be say a brokerage firm that doesn't offer banking services. This is part of what it does is part of wealth management but sort of puts its clients money all into one bank one time and could move that money around as it sees fit without. Its without the ultimate ultimate customer. The person whose money it is really even knowing so these broker deposits at the time in in the past been called hot money because of how quickly they might move and regulators regulators fear has long been that broker deposits would flee a bank very quickly. Should that bank start getting into trouble. What regulators are now saying. Is that a lot of the rules rules. About what exactly. A broker deposit is which were set. Many years ago don't account for how technology has changed and how a lot of deposits are inter mediated in some way shape or form through an APP through a website through some other thing that might in some respects make them look like a broker deposit. There's a third party involved but don't necessarily act. Ah broker deposit and the the the FDIC which is the main regulator is considering modernizing some of those rules to account for how some brokered deposits some things that might considered broker deposits actually look like what regulators call core deposits which they consider the the safest least likely to flee a bank in signs of trouble form off deposits and this would benefit tech companies if these rule changes were enacted tech companies are at risk of being labeled as brokers Because essentially they are are the front end. The customer knows. Oh I have a checking account with this tech company right. I have a Google checking account. Should they offered. I haven't apple checking account. I have my money honey with square or with Amazon. Whoever might be they they might not necessarily know who the bank behind that ultimately is. So the question is so to those. Those relationships are likely to possibly look like a broker deposit the FDIC by reclassifying. Exactly what a broker deposit is in who a broker is might make it much easier. For those tech companies to to be delivering what our core deposits to banks and that makes tech company relationships that much more valuable to banks and it kind of shifts a little bit of the balance of power towards the tech companies away from the banks because the banks so far have been able to say look where the regulated party. Here we call the shots but if things things get a little easier on the regulatory front than the Tech Company might be able to say. Hey we're bringing you good steph. Here give us a good deal.

Bank Big Tech Company Fdic Google Bank Of America Apple Federal Deposit Insurance Corp Journal Samsung Goldman Citi J. P. Morgan Chase GLI Amazon
Democratic Debate Back on After Agreement in Venue Labor Fight

America in the Morning

02:04 min | 11 months ago

Democratic Debate Back on After Agreement in Venue Labor Fight

"That reminder C. N. B. C.'s Jessica adding it's twenty four past the age to buy tobacco in vaping products could be going up more from correspondent bill Michaels Congress is moving ahead with legislation that would raise the age to buy tobacco and baby products from eighteen to twenty one the sales restriction has the support of two unlikely backers Marlboro cigarette maker all trio an E. cigarette maker jul the proposal comes in response to a surgeon underage Peiping by U. S. teens raising the purchase age is expected to curb young people's access to E. cigarettes and regular cigarettes and eventually save lives by cutting the smoking rate anti tobacco advocates say all tree and jul are backing the measure to head off even more damaging restrictions on tobacco and vaping bill Michaels Washington now twenty five after well potential change in measurement set us off on the right foot when American morning continues after these messages okay you know how it feels when you've saved enough for that long awaited home addition now imagine in addition on that addition that's the feeling with Capital One renew savings account earns an interest rate five times the national average that's right five times as represented by five times more singers banking remain capital one what's in your wallet terms apply we comparison based on FDIC national right Capital One N. A. member FDIC sarcoma also you've never heard that word before for the forty people diagnosed with star home every day it is a life changing more because this cancer and research the sarcoma foundation of America families whose lives have been turned upside down cancer they never heard least once in

C. N. B. C. Peiping Jessica Vaping U. S. Michaels Washington Capital One Fdic America
"fdic" Discussed on 10 10 WINS

10 10 WINS

02:14 min | 11 months ago

"fdic" Discussed on 10 10 WINS

"Member homeless FDIC challenges this he's is expected going to be to discuss the best the plan holiday to buy several buildings sure from a landlord I maxed out a couple of credit is cards already and being open paid a bank to house account homeless or two but families they're not in my run name down apartments made all buildings that online would be shopping converted into browsing permanent and booking travel affordable you do around apartments the holidays can leave you exposed the impeachment even over vote wifi in the full house is expected tomorrow now I the passwords house rules account committee info is meeting social now security to numbers set the parameters hundreds for tomorrow's of debate I got more list in Senate Santa Majority Leader Mitch McConnell it is truly balking is at the a most letter wonderful from his time democratic of year counterpart Chuck for cyber Schumer criminals the season asking of for giving the Senate can be to the agree season to call of witnesses take good when thing it Norton comes three to sixty the trial with LifeLock next provides month an all maybe in the one house's membership public for your proceedings cyber safety about the the gives democratic you device leader security with the same identity impression that theft left protection many a of VPN us for online privacy the from everything and we more can tell no one can prevent house all cyber Democrats crime and slapdash identity theft or impeachment monitor all transactions inquiry at all businesses as but failed thanks to to come Norton three anywhere sixty with near LifeLock you don't anywhere have to near lets cybercriminals unhappy the bar for your holidays impeaching a duly twenty elected five percent president or more what of your first is year leader in Norton McConnell dot afraid com slash radio that's what Norton is dot president com slash trump radio afraid for of twenty the truth five percent off but the American people when want news time the truth trial of eighteen and talking that's to why yourself is not we a bad have asked idea for witnesses a new study suggests and documents that encouraging children to silently to get repeat at the whole statements truth to themselves and nothing but that emphasize Schirmer had asked efforts for for over witnesses ability to be called including could acting result white house chief in of staff greater Mick success Mulvaney and for former example national the study security says adviser that children John are tell Bolton themselves I will do my very best during former a math trump exam campaign aide Rick actually gates improve says test just scores learned his sentence the same was not or get true forty and the five children days focus behind on bars ability and three the years study probation is published in for the journal his part child in a criminal development financial scheme and for lying to investigators apple gates and is hope lowering to get no the price prison of time its subscription which games would have service been unusual if you signed up for but a prosecutors year said he cooperated current subscription above is and into beyond apple arcade he met is with five the FBI dollars a month and a new prosecutors deal is about twelve fifty months times for the price of ten is month and a half in jail here's a novel holiday well below gift the idea nearly four for fifty months five recommended dollars you by can buy the sentencing part ownership guidelines in a French castle gates help bring granted down it's to in this Key repair former but the White idea House officials is that all in the the people Russia buying investigation a share will Roger help a nonprofit stone restore and Paul it man a each fort contributor man afford is promise is lifetime imprisoned access and stone the peace is awaiting in sentencing of the garden after he bearing was convicted his or of her lying name to Congress winds news time twelve nineteen they introducing dream of gender the.

FDIC
"fdic" Discussed on Newsradio 830 WCCO

Newsradio 830 WCCO

02:50 min | 11 months ago

"fdic" Discussed on Newsradio 830 WCCO

"Exclusions apply member FDIC restrictions apply sh here's the latest from the new Starkey threo WCCO weather center we are watching out for a wintry mix today and it'll of probably a little snow before two o'clock this afternoon and then it'll kind of be a mix of light snow freezing drizzle potentially and kind all the way up through midnight often on but there won't be much accumulation of weather services not even an inch possible but we're just going to keep an eye on this to see how it develops is certainly this afternoon will be a little more tense so make sure you have WCCO radio tuned in as well tonight will look for a loner Levin Saturday high of about nine but then Sunday will look for our Saturday night look for low from one to six of basically tomorrow temperatures will start to fall by our early in the afternoon it looks like right now in the Twin Cities we have eleven degrees to lose the the leader I saw on our precipitation remonstrate here little over five inches yesterday ways traffic on the aids powered by you some of the problems up and Rogers ninety four west on past one a one of the crews are all falling a car holder that was involved in it your vehicle vehicle fire shelters jams make great toward one on one east council sawing out of Albert filled with the Gawker delays thirty five north counseling between highway sixty two in ninety four I'm Jerry Peterson new talking through WCCO which George tenet checker seven fifty one looking for the perfect gift shop the Midwest's largest selection of fine Swiss watches and wishing jewelers in Bloomington so we hear this week's one cool thing Laura takes a few folks out of their comfort zone what is it I think you might be included in that group from what we were just talking about but this is totally worth it Dave it's drag queen bingo it's at the holiday as well on Friday nights so tonight and next Friday between seven and nine in the Fulton beer tent you can go play bingo with your friends hosted by two drag queens that have a lot of fun with the crowd as you might imagine you tell me more well I got to interview one of them her name is Maxie Maxie first of all just for a little context here there's plenty of photos of maxi on our website at WCCO radio dot com and when you look you will see why it takes her two hours to get into full drag we're talking about all of the make up eyelashes wigs costumes body padding in all the right places check it out on her own check out her photos and through our two hours so that that is commitment yeah gorgeous she is just gorgeous so she hosts this show we had a nice chat in the fold your tent last week and makes it so fun and it's.

FDIC
"fdic" Discussed on KCBS All News

KCBS All News

03:11 min | 11 months ago

"fdic" Discussed on KCBS All News

"FDIC national right Capital One N. A. member FDIC wherever you're headed this holiday season take the bay area's number one news station along for the ride rain falling across the bay area with the worst of it starting this hour extending through ten o'clock tonight and into the morning hours as well one key CBS to tell you when the stormy weather will arrive and how to avoid dangerous road conditions a lot of calls from the KCBS phone force for kill road there's a tree down right lane cars swerving around it the number one news station a part of your holiday plans our news is crystal clear on FM and one oh six nine KCBS two eighteen we've got some new problems on highway seventeen where we heard that before we got Kim Vestal KCBS traffic there's so much water on the road it's all dripping down off the hill side so we've the big deal is we have this solo spin out southbound seventeen before big movie curve and death car overturned is been blocking the right lane that's why it's really slow southbound should come up I pass a reserve or and now we've got another spin out north bound at just after the summit blocking the right lane there but the south down back up is definitely the worst as you continue into the Santa Clara valley I don't see any problems to speak of on South Bay freeways but they are wet the rain had been coming down all morning long single grade starting to feel a north bound six eighty out of Fremont as you continue I'm looking at through the San Ramon valley if you're headed towards Waller creek traffic is at the limit in both directions with no no accidents and your eastbound five eighty right between Castro valley Altamont pass also at the limit and the incident free I do see some traffic in San Francisco let's take the children autobody collision camp there for an update with Joe use Kim were still looking at the early stages of the afternoon commute really starting to bog down you know have heavy traffic one a one north bound just before Cesar Chavez gets really heavy through the downtown stretch of eighty eastbound and on to this band but the bridge itself is looking good in both directions coming and going from San Francisco and if you haven't joined the case VS ways for she can do that just hop on to our website KCBS radio dot com and click on traffic next updated two twenty eight on the traffic leader KCBS thank you Kim the bay area weather forecast calling for scattered showers were seeing those this afternoon nothing all that significant but yeah that's what out there our temperatures mostly in the mid to upper fifties at this point cloudy and potentially foggy overnight with lows in the upper forties to low fifties tomorrow by and large we should be dry a slight chance of a few showers here and there but for the most part dry of that will be the respite between the wet weather because come Friday heavy rain strong we in some isolated thunderstorms temperatures mostly in the fifties again Saturday the showers continue Sunday mostly cloudy with a chance of some showers than Monday looks to be dry temperatures though still mostly in the fifties traffic and weather together on the eight so on all these one oh six nine and A. M. seven forty KCBS it's two twenty one there's a promising news for the treatment of dementia a joint report by UC Berkeley and Ben Gurion university scientists shows the drugs that shrink inflammation in the brain could slow or even reverse the effects of.

FDIC
China warns of 'firm counter measures' after Trump signs U.S. legislation on Hong Kong

WBBM Evening News

00:39 sec | 11 months ago

China warns of 'firm counter measures' after Trump signs U.S. legislation on Hong Kong

"China's pages missing warning is in and ready seventy March to take what seven there Beijing will be hundred calls no color bail firm pages for Marvin counter Bailey measures visit who was Amazon against arrested Monday the or US canon says a dot spokesperson now U. S. the for slash president the Chicago megatech police trump has after signed he a was law identified supporting as the pro subject where democracy bears prosecutors fans protesters say at Bailey PNC in Hong who was Kong on parole and you'll find and living us China everywhere with expert forty in Chicago three Gordon year old Chang Shanti says were bright at less efforts the stuff game to her covered work body out in in a orange a trade blue container deal and blue with China cheering after likely he at the killed top played of her our a big lungs and travel part around where the the city tail Mr with gate her trump's remains grilling approval Brockton for nearly of the a winter a legislation week storm they say there's surveillance been no matter evidence where video you shows find that the Bailey Chinese is PNC using have a been Dolly will be stalling cheering to throw on a the bears blue band on with into the rest trade a dumpster of Chicago because and a strip they realize we mall are on PNC the the far trump south won't side go we after are by bears Liz them body on fans Hong has not Kong been PNC recovered bank so seen police John the relied official human on bank forensic rights of the Chicago evidence Bears to so charge in order Bailey copyright to get multiple a trade two units thousand deal within eighteen the bureau the I PNC think of president financial detectives trump services work had together group to incorporated to sign charge the Hong Kong all this rights legislation offender reserved with PNC first stocks degree bank close murder national that they cook hire association county the assistant major member market state's FDIC averages attorney James at record Murphy levels says detectives the Dow was up also forty found two P. blood points Jared inside this we know every

Murder Murphy Fdic Official John The Kong PNC DOT Bailey Marvin Jared James Attorney China Hong Kong President Trump LIZ Brockton Chang Shanti
Damage related to climate change will only grow -- who's liable?

Climate Cast

04:42 min | 1 year ago

Damage related to climate change will only grow -- who's liable?

"Support for climate cast comes from Bank of America financing clean energy initiatives and advancements in renewable energy and spurring innovation and the growth of environmentally focused companies it gets in Jobs Bank of America. NA member FDIC who pays for climate change damages I'm NPR chief meteorologist carbon in the in the atmosphere and then ties that amount of carbon in the atmosphere and warming to the increases in flooding ceiling fire victims how do you see individual consumers fitting into these lawsuits moving forward it's very difficult for individuals to have

Jobs Bank Of America Bank Of America Chief Meteorologist Fdic NPR
4th man arrested in campaign finance case involving Rudy Giuliani associates

10 10 WINS 24 Hour News

01:10 min | 1 year ago

4th man arrested in campaign finance case involving Rudy Giuliani associates

"Bridget Quinn here my fifteen year old son recently brought home his pay from his first job and boy was he excited to put it toward a new guitar but I said listen save it make more money with your money by opening an apple bank youth savings account with apple's youth account kids start earning interest with as little as five dollars plus three percent annual percentage yield is one of the best around for youth savings account and there's no monthly service fee get a free power bank with your new account too there's a difference today for locations are more info visit apple use savings dot com your savings available to children ages six to seventeen one dollar minimum to open five dollar store interest annual percentage yield APY effective as of September third twenty nineteen and subject to change including after account opening three percent A. B. Y. for balances between five dollars and ten thousand dollars and maybe why between three and two percent for balances above ten thousand dollars for example twenty thousand dollars burns a two percent APY visited apple bike ranch for more details member FDIC Fran is heading our way it's going to be heavy at times this afternoon into tonight hi today sixty eight good afternoon I'm Larry canter

Bridget Quinn Apple Fran Larry Canter Fdic Ten Thousand Dollars Three Percent Five Dollars Two Percent Twenty Thousand Dollars Seventeen One Dollar Fifteen Year Five Dollar
"fdic" Discussed on NewsRadio 1020 KDKA

NewsRadio 1020 KDKA

01:31 min | 1 year ago

"fdic" Discussed on NewsRadio 1020 KDKA

"FDIC. fifteen can regenerate your traffic powered by browsers Chevrolet beaver falls down and rolled will replace Kathy Berger and what's the latest well looking over at the inbound side of route twenty eight worst movie much better as you head down toward the U. Millvale exit ramp by the time we get down for the fortieth street bridge is still heavy as low as you make your way past the thirty first three bridge the all time pretty busy for you as you make your way toward the Highland Park branch by the time you get out for Delafield after things do start to loosen up over on the Elizabeth bridge that is still closed off it's going to be closer offered for the notice actually and traffic is D. torn by way of the clear ten glass board bridge now starting to thin out for you over on Lincoln Boulevard heading over toward the bridge were now slow from portion street heading up on to the bridge we're still looking SO traffic on fifty one though as you head into that detour route both troubling inbound on the parkway west watch for those delays at the top free tree hill and the outbound side is heavy at seventy nine Bucks troubling inbound on the parkway north looking pretty well for you until you get down toward the north shore expressway that is sold to the four to Cambridge and that the veterans bridge it's bumper to bumper whether you're heading over toward crosstown Boulevard or six and seventh Avenue's it's all it all the way across the span our next Tripoli traffic on the five to eight twenty five for the Presbyterian see your turn our traffic center I'm Kathy Berger newsradio ten twenty KDKA and sunshine greet you obviously this morning but how much forty nine degrees John yeah Charlie what we're gonna end up in the.

FDIC. Kathy Berger Delafield Elizabeth bridge Cambridge Charlie U. Millvale Highland Park Tripoli John forty nine degrees
"fdic" Discussed on Consumer Finance Monitor

Consumer Finance Monitor

19:35 min | 1 year ago

"fdic" Discussed on Consumer Finance Monitor

"Podcast. This is something that i know you're gonna find great interest and that is the recently released f._d._i._c. consumer consumer compliance supervisory highlights for almost sense the creation of the c._f._p. <hes> <hes> <hes> that agency has been issuing supervisory highlights. This is a recent development for the f._d._i._c. so obviously the f._d._i._c. and the banks that are regulated by the f._d._i._c. the do consumer sumer compliance exams of the f._d._i._c. <hes> they <hes> probably have they liked what the cfpb p._b. Was doing i mean <hes> and now they're going to try to copy it and i think <hes> the the first edition of the highlights allied side would say is a could a good first effort by the f._d._i._c. so let me introduce my guest us today and my guests are colleagues of mine ballard spahr both of them members of the consumer financial services group and both of them highly qualified to talk about the topic today. Let me first introduce james kim. James ames is a partner in our consumer financial services group and works out of our manhattan office prior to joining our firm. James served a stint in the c._f._p.'s manhattan office where he was the senior enforcement attorney while he was in the p._b. He he led nationwide investigations evolving consumer credit mobile financial services emerging payment systems and processing warpage origination debt collection excetera james's also very heavily involved in coordinating join enforcement initiatives with the f._t._c. and state attorneys general at our firm james advises banks other companies and individuals in matters is involving financial regulation and litigation and the myriad of federal consumer finance laws. You also defense banks and non banks being investigated by federal and state government agencies including a force c._f._p. Bay <hes> welcome welcome to our show today. James bo ronnie is a member of our consumer financial services group. He works out of our d._c. Office bow joined us several years ago from the p._b. Where he was a presidential management fellow and later in examiner incharge he worked in both compliance and enforcement and at the c. p. b. he'd lead compliance exams the bank and non bank institutions as the examiner in charge and as the team lead in his responsibilities included meeting with senior management if financial institutions to discuss and address alleged violations since joining us <hes> bo council many of our clients as they prepared for c._n._n. P._b. exams or during c._f._p. Be exams bo has the unique perspective to bring to bear since he's been on both sides the cfpb p._b. Exams some of which have involved in to enforcement matters so bo warm warm welcome to you as well okay so <hes> first question to lead things off bo what what are supervisory highlights and why are they important. Thanks thanks for including on the podcast today. Supervisory highlights <unk> are used by the regulators to publish anonymous exam findings and outcomes to help companies subject to federal regulators supervision with their efforts to apply with applicable laws and perhaps more importantly <hes> supervisor highlights help. Most companies anticipate what the regulator will be looking at. We're going to be focused on during next exam so here with this first condition of the f._d._i._c.'s consumer compliance supervisory highlights the f._d._i._c. he's giving us and f._d._i._c. supervised banks a high level overview of consumer compliance issues at the f._d._i._c. identified during twenty eight t being examinations in reported the f._d._i._c. notes that it conducted approximately twelve hundred consumer compliance exam last year and in this report it provides some of the most salient issues encore that the f._d._i._c. identify during those two thousand eighteen consumer compliance exams so this publication provides a distillation of the most important violations of law identified by the f._d._i._c. during those twelve hundred consumer compliance exams conducted <hes> last year so supervisory highlights like this publication provide f._d._i._c. banks and other banks and financial institutions and with similar products practice it gives them a roadmap of potential violations of law that your federal regulator may come ask about during <hes> your next exam. Thanks <hes> <hes> but i am i right the technically speaking <hes> these supervisory highlights would only apply apply to institutions that are subject to consumer compliance examination by the f._d._i._c. or put differently. You would not cover the larger banks those that have ten billion or more in assets <hes> who who's a consumer compliance exams are dumb by the c._f._p. Am i right there well technically. They're not even binding on f._d._i._c. Supervised is banks. <hes> there's a recent interagency statement made clear that supervisory guidance like this unlike a law or regulation does not. I have four law agencies including the bureau f._d._i._c. federal reserve o._c._c. and away. They all made clear that they don't take aac enforcement actions based on supervisor guidance so a financial institution. That's not supervised by the f._d._i._c. is not required to follow f._d._i._c. z. Supervisory guidance and guidance doesn't have the force of law for f._d._i._c. supervised banks but regardless of whether you're subject to f._d._i._c. supervisory is we oversight or you just have products or processes similar to those at issue in these supervisory highlights. I would strongly recommend <hes> that companies companies should review these observations and consider whether you may have similar issues i think if before you took a test you are allowed to see the test results of hundreds of other test takers who've taken that same test you're studying for and you could use those test results to bone up on your own studying and improve your our own test score so while it's not binding required. I don't know why you wouldn't take the opportunity to review exam results. There's some revised <hes> summarized in supervisory three highlights like this to potentially improve your own exam outcomes and potentially ward off a possible enforcement investigation and end <hes>. This is a new thing for the f._d._i._c. right. <hes> i mean they have not previously issued. Supervisory guidance related to consumer issues. This is their first edition of other consumer compliance provisory highlights so bo. You were an examiner in charge at the c._f._p. Before joining our firm did you use. Supervisory is we highlights issued by the c._f._p. <hes> in connection with examinations you were conducting. Oh yeah i certainly <hes> <hes> those bureau provisory highlights and other federal regulatory <hes> supervisory highlights are not only for the regulators to alert industry issues day by defy but they're also tremendous tools for examiner so <hes> before sending the initial information requests and kicking off an examination <hes> i would and an exam leaders generally <hes> would regularly consult both supervisory highlights to consider previous findings at other companies across the country and then use those findings to help focus their own exams yet. I take it <hes> while you would do that. When you would write somebody somebody up you know for violation. Did you back then and i recognize you. Were at the c._f._p. Few years ago would you actually rely yeah. I on the suit site the supervisory guidance back then <hes> no certainly within any of the written correspondence we'd have with our supervised improvised institutions. We wanna use the text of the rank or the text of the cometary as the basis for our patients certainly in discussions we would bring up and provide links for the company to that prior supervisory highlight but that was more a part of just to going supervisory dialogue about <hes>. When did your c._m._s. Identified this or why. Do you think your c._m._s. Did not identify this potential riskier and that was the point of that discussion but we never used it as a basis for communicating. The preliminary findings dance tunes okay <hes> tho- james <hes>. You're at the c._f. P._b. As well although you were worked worked in the enforcement area <hes> do enforcement attorney said the bureau review supervisory highlights rely upon them definitely <hes> there. There's no doubt about it. Let's talk about the bureau first and then the federal prudential regulators because i think enforcement attorneys played different roles those agencies but but at the c._f._p. Everyone should be reminded number. One that enforcement attorneys although invisible visible still support examinations so you have enforcement attorneys in the background of advising the supervisory personnel all the examiners about potential issues especially ones that are thornier such as you'd apps so i think like others like the examiners themselves <hes> enforcement attorneys read various supervisory highlights primarily from the bureau but from the other agencies and certainly now with the f._d._i._c. putting consumer supervisor highlights the they showed in a will include this in the reading list to stay abreast of <hes> potential issues that or patterns that may be emerging in in these supervised provis institutions and then to at the cfpb p._b. This is where the bureau is different than the banking regulators the o._c._c. the f._d._i._c. in the majority of the enforcement actions at the c._f._p. Originate outside of examination so i think there's always been this myth breath. That exams were feeders. Primarily the primary feeders enforcement investigations that simply was not the case enforcement attorneys have a wide variety we of sources of information they breed newspaper articles just like everyone else they read the supervisory highlights for ideas of they also have sources sources even formations from complaint databases state agencies so i i my point is is that the supervisory highlights were among the various sources of information that enforcement attorneys would use to originate new investigations aside from handoffs from supervision and then turning to the you know the the prudential regulators of whom we have plenty of dealings with. I think it's a little bit different. They are i'm sure they review them for a lot of the reasons that that they discussed except they probably don't read them to originate investigations at most these thinking agencies agencies the enforcement attorneys are getting handoffs from supervision. Were violations have been previously identified. Two examinations in the enforcement attorneys <unk> are essentially kind of taking that taking those findings and then um handling it through a public consent order rather than confidential supervisory means but they're not using museum to originate new enforcement actions typically <hes> let me let's now delve into a few of the items that were mentioned in the f._d._i._c. supervisory highlights the first issue noted by the f._d._i._c. <hes> bo relates to overdraft programs programs. We've seen similar concerns from the c._f. P._b. and other regulators savelly this isn't really a new issue. That's right the p._b. A and federal reserve among others have previously shared these concerns about overdraft practices and public publications and statements which again highlights highlight the overlapping nature of these publications so again i would say f._d._i._c.'s provides banks would be well served to pay close attention to bureau and other regulators laters supervisor highlights even if you're not subject to their supervision so here the f._d._i._c. identified to overdraft issues one one with practices related to use of an available balance method and a second regarding overdraft fee disclosures so i the f._d._i._c. identified a concern where banks they're using an available balanced method assessed overdraft fee on any point of sale signature is your base transactions <hes> but settled against a negative available balance even though the institution may have previously authorized the transaction based on sufficient should funds available at the time of your authorization so jesse provide an example to illustrate this <hes> in their example consumer. It has an account balance of fifty dollars at the beginning of the day and a point of sale signature based transaction of thirty dollars would authorize against the fifty dollar balance and that would lower consumers available balance to twenty dollars now if the customer authorized another thirty dollar transaction but second and transaction would authorize against an insufficient available balance and that was lower the consumers balanced to negative ten dollars <hes> the concern arises where <hes> at first transaction settled after the second transaction that posted and the banks payment system assessed or fees at final all settlements such that or fees or assessed on both transactions even though the consumers balance was sufficient to cover that first transaction when it was authorized thrived the second concerned the f._d._i._c. identified <hes> they found some banks did not sufficiently disclose how or jeff fees are assessed so that <hes> in the words of reasonable consumer would understand when an overdraft could be imposed so hopefully the f._d._i._c. z. Within the supervisory highlights your calls out ways to mitigate the risk of these violations so first off the p._s._e. Recommends that for financial institutions using the available balance method that they should ensure that any transaction is authorized against the positive available balance does not incur an overdraft fees even if that transaction later settles against a negative available balance and two if you recommend that companies should consider their overdraft program descriptions that are given to consumers to make sure they're providing clear and conspicuous disclosures about potential overdraft fees so that consumers can understand when overdraft fees will be assessed <hes> and make informed decisions to avoid the assessment of such overdraft fees so so those are the overdraft concerns from the f._d._i._c. in these supervisory highlights james number of state attorneys general recently made an announcement mental about overdrafts what that announcement about he had just a few weeks ago in early july in fact in a letter dated july ally one you had twenty five state agee's submitted joint letter to the c._f._p. B basically calling on the bureau knots lots to roll back or scale back the existing overdraft rule enraged e and in fact the the state agencies he's and then the commissioner in hawaii were proposing stricter regulation and overdraft to extend it beyond debit transactions to also cover a._c._h. Is and check transactions but i think that the the origination or the reason for this is that in may of twenty nineteen leaned bureau announced that would revisit and reconsider a series of rules including the overdraft rule specifically to see it was overly burdensome. Where the cost benefit analysis <hes> was such that you you know the the cons outweigh the pros especially for smaller entities <hes> but i think consumer advocates and <hes> the stating genius they're concerned that the review the rule <hes> focused purportedly on small entities can be a trojan horse so to speak for the bureau to rollback the rule in general for all institutions russians <hes> and and i think that's the reason for the rule i mean fit letter in the letter the note that there's no data that they're aware of of a supporting such rollback and that in fact the data shows that regi the overdraft rule has greatly protected consumers and produced overdraft fees so <hes> you know that that's just a i think important thing for people to note that in addition to complying with existing rule <hes> <hes> there there is a battle essentially on whether or not the current rules should be revisited scaled-back were expanded. Am i right. James said <hes> the reason for the focus on the overdraft rule is because of a requirement a statutory requirement that says has every ten years the ten years after the promulgation of a regulation the agency needs to examine the impact on small all businesses and it was an is if the c._f._p. Out of concern had tremendous concern about the overdraft draft rule and decided to do a review of it right..

f._d._i._c. James bo ronnie supervisor cfpb James attorney james kim James ames manhattan partner c._f._p. commissioner hawaii agee jeff jesse
Media changing their tone on climate change

Climate Cast

04:50 min | 1 year ago

Media changing their tone on climate change

"Support for climate cast comes from Bank of America as one of the largest global financial institutions Bank of America is in a unique position to help society transition to a low-carbon economy, Bank of America, NA, member FDIC, a major news organization is changing the way at talks about climate change. I'm NPR chief meteorologist Paul Hutton her, this is climate cast. But study by media matters found broadcast TV news coverage of climate change plunged, forty five percent between twenty seventeen and twenty eighteen and had happened at the same time climate change enhanced extreme weather disasters spiked in the US now a major international news organization is changing their description from climate change to climate emergency as climate events, become more extreme. What's the most accurate way for news organizations to describe climate change? Susan, joy, hassle is a climate change communicator, analyst, and author. I spoke with her via Skype the cabinet. I really pressure is climate disruption. I think that term gets the point that this is human caused where disrupting global climate system and yet it avoids a term like crisis, or emergency that some journalists type think might feel a little uncomfortable with Susan. There is a push among many scientists and journalists as you touch on to really kinda sharpen the. Language around climate change to more reflect the urgency of the situation, and you touch on this, but I'm curious how far is too far? And is there a tune out threshold? I think it's really important to know that climate change is real. It's us. It's bad. But also that there's hope that there's a lot that's currently being done, and we need to do more. And we need to do a faster, but the future is largely in our hands. Sometimes I worry that if we talk too much about the crisis, and especially if we do it in a way that just scares the bejesus out of people or makes them think that it's inevitable, and that there's nothing we can do about it. That that's really a mistake because for one, it's not true. And for another, I think that fear alone is not enough to make people want to act. They need to know that there's something we can do about it climate change communicator, and author Susan joy hassle. Thanks so much for your perspective today. Sure happy to be with you. My name is Aletta Brady, and I am the executive director of our climate voices. I am originally from south Minneapolis. My name is Kia Johnson. I am the outreach director at our climate voices and I am originally from the east side of Saint, Paul are come invoices, is a use led storytelling platform that is humanizing the climate crisis. So what we do is we work with people to share their personal stories with climate change. How climate changes impacted them the facts are scary? Sometimes it gets to the point where sometimes you just kinda don't think there's anything you can do. And storytelling. Really humanizes. It, it connects us to climate change, and how it's impacting people climate change is not an issue if the future is something that's impacting us now. And so a big part of what we're trying to do is tell current stories about the ways that ourselves and our communities in our friends and people are being impacted it like right now. And so it's difficult to create change if we feel distant from climate change, you know, you talk about the glacier, smell. Team while they're on any glaciers right here. So we feel like that's really impacting you. So when you can see how it's actually impacting communities, an individual people, this is when you're inspired to take action. We really believe that everyone has a climate story. So whether you are dealing with homelessness and impacted by increasing heat waves, or, you know, in Minnesota year recreational things change skiing running because of weather patterns, like understand how it impacts, you personally, when human beings, we all have a right to nature. We all have it right to clean air, clean water to being outside and that, right? Isn't necessarily being honored for everybody for all communities, including my own community communities of color are more impacted by climate change as well as impoverished communities. And so I'm here to be that voice or, or help those voices be heard on so that those communities in what's happening in those communities that people see that. You look it up volcano, and it's really scary, and it basically wipes everything out. But then there's like this new opportunity for growth in a new environment. I really think that as communities as we fight against climate change and climate injustice, that we're almost seating for a new environment that can really grow and flourish. That's climate cast. I'm NPR chief meteorologist Paul hunter.

Susan Joy Chief Meteorologist NPR Bank Of America United States Paul Hutton Fdic Analyst Minneapolis Director Paul Hunter Kia Johnson Minnesota Paul Aletta Brady Executive Director Forty Five Percent
How do species adapt as climate shifts habitats?

Climate Cast

04:42 min | 1 year ago

How do species adapt as climate shifts habitats?

"Support for climate cast comes from Bank of America as one of the largest global financial institutions Bank of America is in a unique position to help society transition to a low-carbon economy, Bank of America, NA, member FDIC. Climate shifts habitats. How do species adapt? I'm NPR chief meteorologist Paul hunter. This is climate pass. Some recent studies on the rate of species extinction are getting a lot of attention lately. We know habitats change as climate shifts how will species adapt to those changes. Elizabeth Krohn is a biology professor at Tufts University. How quality habitat is an area where population has all the resources at needs to complete a full life cycle for butterflies in particular. They are usually fairly specialized as caterpillars, so the adults will lay their eggs, only on a few species of plants, and that's all the caterpillars eat, and then as adult, they get energy for movement, and some for reproduction by collecting nectar from different species of flowers. So abundant host plants and nectar plants or what say a butterfly needs to persist in a prairie low quality habitat are areas that are not hostile to a species, but has only some or possibly, none of these key resources that they need to eat. And reproduce. So in reading some of these thoughts and ideas about low quality habitats it struck me that creating climate change migration. Route is kind of like a guest room. Right. You wanna make it nice enough to stay in for a little while. But not so nice that your guests will hang around too long. Does that seem reasonable that seems quite reasonable? So let of the things we did. In our study is we showed that animals tend to move more slowly through higher quality habitat and to move more quickly through lower quality habitat. So if he wants a population to be able to expand over multiple generations than it needs to have some high-quality, how fat, but you also want some of this lower quality habitat, so that animals will move quickly and cover longer distances and their lifespan. So I'm curious about people at home if they're interested in creating habitat for different species. What can they do to create favorable habitat that can help species adapt? Opt and move as climate shifts the optimal balance for range expansion is about fifteen percent, high quality habitat and eighty five percent low quality habitat. And so what that got me thinking about is the potential for urban landscapes to serve as quarters for movement. You know, most urban landscapes are something like thirty to fifty percent Greenspace than if we take the Greenspace and convert about a sixth of it into pollinator gardens than we've created this mosaic high on low quality how the top that helps populations move through the landscape. Elizabeth grown biology professor at Tufts University. Thanks so much for your perspective today. Thank you. My name is Hannah field. I'm a bicycle commuter in the twin cities. I really enjoy bicycle commuting for number of reasons. First and foremost for the environmental reasons, I'm very concerned with climate change, and just our dependence on fossil fuels and greenhouse gas emissions. So I see it as my way of doing something to reduce our dependence on fuels. I'm not driving a car. I also really like it because I think it's a really awesome way to get to know a place. I find that the twin cities. They're not huge. But they felt bigger than they feel now. In the fall of two thousand seventeen myself and three other young women. My age we biked coast to coast across the United States, and we did it for public lands, which was a cool mission to integrate into a bike trip because we could actually visit a lot of public lands, and public lands being national parks, national monuments national forests sore mission was to educate and raise awareness on the importance of public lands. But also the threats facing them. My biggest message for folks is just to kind of evaluate what you yourself can do to, to make a difference. I know it can be frustrating because it's hard to see how one individual's actions can really make a difference, but I think it's really worthwhile anyway, and it's so much of a mindset and it's not just about like being perfect and everything we do. But just like being aware of how our actions are so interwoven with each other and the environment. That's climate cast. I'm NPR chief meteorologist Paul hunter.

Bank Of America Chief Meteorologist NPR Tufts University Elizabeth Krohn Paul Hunter Professor Fdic Hannah Field United States Eighty Five Percent Fifteen Percent Fifty Percent
Minn. leaders meet to address threats to lakes, rivers

Climate Cast

03:55 min | 1 year ago

Minn. leaders meet to address threats to lakes, rivers

"Support for climate cast comes from Bank of America financing, clean energy initiatives, and advancements in renewable energy and spurring innovation in and the growth of environmentally focused companies markets and jobs, Bank of America, NA, member FDIC. I'm in Walker Minnesota at an annual meeting of rivers and lakes advocates and lakeshore. Homeowners associations and one thing they're seeing is the data is clear. Minnesota is getting wetter overall and as our climate shifts. That's presenting challenges for these folks. Jeff Forrester is the executive director of Minnesota lakes and rivers advocates. Well, I hear from people across the state and, you know, obviously water levels are changing, you know, some areas dryer. So there's drought other areas are over the shoreline and then we're also getting plants native plants there, didn't used to be plants people are saying, well, you know, we've got this northern mille-feuille which is native. And now it's growing right to the surface, and it's in places that never was before we can't get boats through my guess is that warmers having an impact, and then the cloudbursts events are flushing more nutrients cynical ex. And I'm just thinking, you know. No, it's really time to focus, some science, some energy on. What are the impacts going to be? How do we mitigate? How do we build resilience into our systems? The changes that we're seeing in the lakes. How much science is there in terms of linking that to climate? Well, my sense is, there's some, but there's not a great deal with agriculture. They've, you know, the farmers and farm groups have done a pretty good job of looking at the impacts on farms, and did oh with the timber industry and did o with people who deal with the infrastructure of our cities. But there hasn't been a real focused effort on what's going to happen to our lakes and rivers because there isn't the same kind of constituency. And that's really what this event is about is bringing in people who are focused on water and one part of the state one week or one, watershed and bring them together to kind of start talking about these larger issues. We we've seen a couple of recent records that have really jumped out at climate watchers with regard to precipitation, Minnesota, one was the, the twin cities record for all time annual precipitation of forty inches in two thousand sixteen. And then just last year, we had harmony that came in. With sixty inches of precipitation, that's the all time state record. That's closer to a New Orleans level average annual rainfall this spring. We're seeing many lakes, over Bank full are people noticing those changes on their local legs, people are definitely noticing, and I'm getting emails about it from across the state, and I think some are starting to connect the dots. Some maybe not so much. They're wondering what they can do about it. Because it's a climate impact and the climate is changing, and it's going to continue to change. That's why I'm thinking about resilience. What can we do to build resilience into the systems? What, what, what can we do to begin to manage our likes a in adaptive management holistic way, rather than just focusing on the walleye while we're gonna stock while focus on we? It's all well we're going to treat the weights here. We're going to do this, or that, discreet activity isn't going to get us. What we need. We need kind of a bigger vision. That's climate cast from Walker. Minnesota at a water conference. I'm NPR chief meteorologist Paul Hutton there.

Walker Minnesota Bank Of America Minnesota Fdic Jeff Forrester Walker Executive Director Chief Meteorologist NPR Paul Hutton New Orleans Forty Inches Sixty Inches One Week
Hurricane season 2019 is here, and could be intense

Climate Cast

04:30 min | 1 year ago

Hurricane season 2019 is here, and could be intense

"Support for climate cast comes from Bank of America as one of the largest global financial institutions Bank of America is in a unique position to help society transition to a low-carbon economy, Bank of America, NA, member FDIC. What's the latest science on hurricanes and climate change? I'm NPR chief meteorologist Paul Hefner. This is climate cast. It's hurricane season again, in the past few years, several hurricanes have intensified so rapidly. They surprised forecasters. So what do we know about climate science and hurricanes in twenty nineteen hurricane expert? Gabe Vecchi is a professor of geosciences at Princeton University. So with hurricanes and climate. It is generally difficult to find very strongly detectable and very strongly. Attributable signals. This place is very differently than say temperature or rainfall for which, there are strongly detectable in the trivial signals. But what are starting to emerge in, tropical cyclones, as more modestly detectable in the tribute, -able signals are things related to, in particular the amount of rainfall, one example, is Harvey, where there has been some studies attributing. Aspects of the enhanced rainfall from Harvey on the warming that has happened to date for other things like the number of hurricanes in Atlantic. It's a little more problematic to make either detection or attribution statements in part because the way that we observe hurricanes now is very different from the way we observe them, fifty years ago and exceedingly different from the way we were observed them a hundred years ago. And so when we see a change, it's hard to know whether that is due to us looking at the storms differently or due to an actual change in the storms. So at this point where we sit today. What's the best message? You can give people about the current and future state of the science on climate change in hurricane. Well, I think that message that I could give people is the good news is we understand hurricanes and tropical cyclones and how they interact with climate much better. And in addition, this information has in a parallel way. Sometimes feeding back coincided with the development of better weather forecast models. So we're in a position where it can provide a lot better information on the bad news. It seems that many of the changes that we think are likely to occur from warming climate to hurricanes are the types of things that would, if we don't adapt, if we don't change our vulnerability lead to generally undesirable outcomes. And so what we have now is the opportunity to digest this physical science and try to understand how best to react to it gave Becky professor of geosciences at Princeton University. It's a great conversation. Thanks so much for your perspective today. Oh, you're welcome. Hi. My name is Joshua Hodak. I live in Minneapolis Minnesota, and I ride my bike, I ride my bike, because I enjoy it. It helps keep me healthy and minimize my impact on the environment and climate change. Bicycling's important for me because not only is it fun. But it also helps me stay healthy, I build in exercise otherwise would not get by riding my bicycle to and from work, and where I need to go, and it's a way for me to make a significant contribution to the environment and climate change. Transportation is the number one source of climate change pollution in Minnesota and the United States and our trips in our vehicles, particularly short trips that are under two miles, even are actually are most polluting trips and so by bicycling, even those short little trips. Those are the easiest chips to convert to bicycling to walking to Hoppy non of the bus or a train to sharing a ride in. So if we can convert more of these short trips we could really. They make a significant difference. That's climate cast. I'm NPR chief meteorologist Paul Hutton here.

Chief Meteorologist Joshua Hodak Bank Of America Bicycling NPR Princeton University Harvey Professor Fdic Paul Hefner Gabe Vecchi Minnesota Minneapolis Hoppy Paul Hutton Becky United States Hundred Years Fifty Years
Minnesota fifth graders, dads head to Washington to lobby on climate change

Climate Cast

06:51 min | 1 year ago

Minnesota fifth graders, dads head to Washington to lobby on climate change

"Support for climate cast comes from Bank of America as one of the largest global financial institutions Bank of America is in a unique position to help society transition to a low-carbon economy, Bank of America, NA member FDIC Federico, tell us where you are right now. And why? I'm in electric car. I'm about ten miles away from the Pennsylvania border, and I seventy with my daughter on my friendlier his daughter, Elena. We're coming back from a conference in Washington DC held by citizens climate lobby and organization that it's doing their best move our government to act on climate change. And we had an opportunity over the last three days to various different sessions. Learn about climate change its impact on health and among other things as well as we had a chance to speak with some of our elected officials. I've been following your blog, and I liked this line to Italian dad's Feddie and Leo in there to fifth grade climate activists daughters audience, and Elena. How did your daughter's talk you into making the trip to Washington? DC. Well, she developed an interest in all sorts of environmental issues over the last three or four years, or so, and particularly climate change over the last couple of years, and try to do certain science, fair like project at school and whatnot last year, we went to a abors birthday party, and she was there just playing with the other kids and somehow what does learn about taking on their car was at him or make you can talk to your data into coming to a conference out and see. Well, you know, she came back home. We talked about it for a long time, and then we decided to go and get go last year received this year in the spring, she was starting to push for it to do it again. I was somewhat hesitant, then she said, well know even my friend Ellen wants to come as well. So then I started thinking of Elena's dad, who actually has an electric car, and go at Karm, and it would be really low carbon footprint, so we talked to Leo and at first layer with a little hesitant to thinking back to me later. I mean, this sounds great. Let's do it. Maybe an extra coffee stop her. About what it would mean literal. So why was. Really long trip, but we learn actually really not that big of a deal when you're gonna zone really long road trips going to do planning where you're staying you know, maybe book for hotel. But this just adds a little bit more later to it. Would you look at the map and you look at where all the chargers are, and then you have to sign your stops around those, and there's plenty of charter so that every three hours yet ample opportunity to stop and go to the bathroom. Eat a meal and the car can get charged up. Sometimes it's, you know, twenty minutes or under our and then you're good to go for another two three hundred mile you meet with. Yeah. Exactly. Just over fourteen hundred people there from all around the country, and then what happens is you end up meeting up with a small team now. MA even right from the on your group early billfish eighteen. So you have you have been pre lobby day meetings, where you sort of come up with a fine about what we want to bring up with our brand, Senator intervene. Cathrine hazo count in one day. Would you walk into their offices and spent some time we're discussing issues? So we met with the staff or for they'll Omar and we met with teams Phillips, while Leone hill and met with the Steph for Ilhan O'Meara and solemn Peterson actually met with him. That's absolutely right. That's gonna mention that. But that was that was really a highlight of strip, by the way. Big picture. What did Allen and audience take away from this? First of all, we were impressed, how communicates and you have the reputation for, but we were really impressive media, so that stiff raiders really pretty much absorbed, everything. She said, but the other thing, and they could even tell themselves how she's sort of spoke to important file days Sunday, the as father. What did you learn about your network? On their value system that have and try to look for common ground. I'm how Saima change is, is important and fits into their value system, and how you know how we can together best to combat it. With with tell you that you're away from it, and there's no for Tunde for in this country to bring our concerns tore elected officials and encourage him put pressure on jewel, ask them to do something about lean problems that were what message do you have for other dads, who might have children who are concerned about climate change? I think both lay when I would agree that we learn about him. Is that their food? I, I have to tell you, I was a little for about how they would handle all these hours of car and by no means is trip over. We probably have sixty dollars to forty hours will have taken us drive on trucks, but these girls really got into it, and really understand why weren't drivers have that's gonna affect. Our Harpo footprint and just a fraction of what he would tell you in dad's every Karasu layover rapidly and darling. Whereas daughters. Thanks for your perspective and safe travels home today. My message to their that have similar concerns. Do their best rates really really talking about their future. At this point, this will affect all of us, but certainly more children than than the wrestler. They have hopefully a longer time on this planet than we do. And I think this is a serious concern and certainly shooting seem level urgency to send the Shida and I wanted to my best one power heart to do something about it. Great. Thanks.

Elena Bank Of America Washington LEO Pennsylvania DC Karasu Senator Ellen Saima Feddie Tunde Allen Karm Leone Hill Omar Phillips
Mercedes Benz is going carbon neutral

Climate Cast

04:42 min | 1 year ago

Mercedes Benz is going carbon neutral

"Support for climate cast comes from Bank of America as one of the largest global financial institutions Bank of America is in a unique position to help society transition to a low-carbon economy, Bank of America, NA, member FDIC. Ben's going carbon neutral. I'm NPR chief meteorologist Paul hunter. This is climate cast German automaker Mercedes Benz is the latest to make the move toward a carbon neutral auto fleet. The automaker pledges to change factories and vehicles to go carbon neutral by twenty thirty nine but how does a high performance automaker shift to a climate friendly fleet in just twenty years, I asked transportation analyst Mickey Mainur the business incentive for Mercedes. Is that Europe obviously there German based company is far far ahead of the rest of the world in getting serious about climate change. And so all companies, no matter whether it's McDonald's or Mercedes are under pressure to become more compliant. Mickey it looks like a pretty aggressive plan by Mercedes Benz by twenty thirty the German manufacturer aims to have electric and hybrid models. Comprise, half or more of total car sales is that real? Mystic in your eyes, a lot can happen in ten years. I mean, if you think back ten years, tesla was just in its infancy, and I remember in Chicago, that a tesla dealer popped up around twenty ten or twenty eleven and just how unusual that seemed and now they're tesla dealers in all parts of the United States, Europe, Canada Asia show. Ten years sounds like a long time, but it's too product cycles in the auto industry. And while you don't see massive change in one product cycle, you can see significant change into product cycles. It looks like part of the strategy for Mercedes is to use renewable energy to power some of their manufacturing plants is that part of the goal to get them to that carbon neutral designation. Yes. It's a two-part strategy. So it's the vehicle strategy at what comes out of the manufacturing plants. And then it's also the way those manufacturing plants are deployed, I've been in most of Mercedes. Major operations in Germany, and in Alabama, and in the last couple of years, there's really been a focus on leaning. Everything down fewer people less electricity. Less packaging coming in with the parts. It's going to take a lot of work. A lot of effort for these factories in Europe to become more climate neutral or carbon-neutral, excuse me, because they're big, and some of them are old even though they've been refreshing. And so I think for me I'm a manufacturing geek and I find this just as interesting as the vehicle side of it. I mean, if they truly can transform those factories, it's going to say a lot to the rest of the auto industry, author journalist educator and transportation analysts Mickey Maynard, thanks for your perspective today. It's my pleasure. Thanks for having me. Eric berger. I live in the Dayton's bluff neighborhood has Saint Paul. I'm an architectural, CAD drafter by day and a former BMW master technician, actually got in Devi ownership because the fastest cars out there and the efficiencies, nice bonus might decision to get an V kind of started with my actually buying a gasoline, Fiat, five hundred when they came to the country in two thousand twelve and then it was actually gonna upgrade to the faster one, but then actually found that Fiat Chrysler mayday compliance vehicle in the state of California, the five hundred electric and it was actually faster than the gas one that I was going to upgrade to. So I decided why not just put electrical service and my hundred and ten year old houses garage, which it had never had before. So I had the ability to get a fast charger, I own a fleet of eleven or twelve gas cars to in the fact that I show up anywhere, really in a little electric Italian car. They're like, what doesn't make any sense? But once people drive it because I tossed the keys on this thing to anyone. I've singlehandedly had three of my friends go out and buy this. Exact vehicle and a lot of others of Baden, tesla model threes. One bottle leaf yet really opens people's eyes are like, wow. There really isn't a compromise here. If you have x y and z in your life, it's not a compromise. There's really never a time where I can't plan around the cars range. So the electric car why I got into mainly because it was the fastest available in that body. But then it turned into the more conventional decision which I want to be kind of environment. Now, I'm fully on board with the whole electric vehicle movement and then green stuff. That's fine at cast. I'm NPR chief meteorologist Paul hunter.

Mercedes Mercedes Benz Europe Chief Meteorologist Bank Of America Paul Hunter NPR Tesla Mickey Maynard Mickey Mainur Fdic Mickey BEN Eric Berger Analyst
"fdic" Discussed on WJR 760

WJR 760

02:12 min | 1 year ago

"fdic" Discussed on WJR 760

"And we get what banking should be more importantly, we get you. We get that. You have a life priorities and hometown pry, we get that you have things that make you tick and things that take you off. We get what you want and need from your Bank. That's why we promised to think act and talk like real people who also have a life and share your priorities and hometown pride mercantile gets member. FDIC? So. Gene. Their song ever. Well, as you my guests, this place is absolutely packed here. But then if you give students free tickets.

FDIC
"fdic" Discussed on KMOX News Radio 1120

KMOX News Radio 1120

02:50 min | 2 years ago

"fdic" Discussed on KMOX News Radio 1120

"FDIC President Trump is reacting to his former lawyers admissions in court that he did dirty deeds out of blind loyalty to his former clients Twitter. The president insists he never directed. Michael Cohen to break the law. That is a lawyer Cohen is supposed to know the law. He also says Cohen's hush payments did not amount to a violation of campaign finance law. Even though Cohen himself federal prosecutors and a federal judge all agreed that they did amount to a crime. In fact, prosecutors have also gotten the national enquirers publisher to admit it worked in concert with the Trump campaign to make the payments in violation of law that CBS news White House. Correspondent Steven Portnoy. Charles man is charged with shooting and killing a man he suspected of stealing from him. Matthew Mancini allegedly shot twenty nine year old Mark Burnett junior telling investigators, he thought Burnett had stolen his possessions. He then rapper nets body and plastic and stuffed them in the trunk of a car found in a garage Manzini is jailed on four hundred thousand dollars cash only bail the biggest meteor shower of the year happens tonight, but showers of different kind may ruin the funds Saint Louis science center, astronomer air Gustafsen tells us about the gem it'd meteor shower this morning on total information AM in the constellation Gemini, which tonight rises high enough to be seen by about nine PM. So after that, the later the better the best time for viewing is after midnight, clouds and rain will block the view of over one hundred twenty meters per hour tonight, but gust of sin says, you still may be able to see fireballs through thin clouds. Janet Jackson joins her.

Michael Cohen Trump Mark Burnett president FDIC Steven Portnoy Janet Jackson Twitter Charles man Matthew Mancini Saint Louis science center air Gustafsen CBS White House publisher four hundred thousand dollars one hundred twenty meters twenty nine year
"fdic" Discussed on WHAS 840 AM

WHAS 840 AM

01:54 min | 2 years ago

"fdic" Discussed on WHAS 840 AM

"Card is issued by MetaBank member. FDIC cartoons conditions an expiration. Continues my.

FDIC MetaBank
"fdic" Discussed on News Radio 920 AM

News Radio 920 AM

02:18 min | 2 years ago

"fdic" Discussed on News Radio 920 AM

"FDIC equal housing lender Josh, Smith will face hotter checkup six seventy The last name basis. Forty two he leads, Josh Smith has won his last two starts Would you believe that this guy is. Eight and five if he can get through to, more innings and qualify for a win it could be his ninth victory. Of the year and he would. Be the team leader will in victories gets the lefty John camera the. Power threat up their, first pitch is yanked. On the, ground foul, up first base line. That's all in one Tweet, the two Josh Smith's they have thirteen wins Josh a Smith is five. And four Josh d Smith eight. And five that is the exact box coming home right there the track. Not many had that If you, combine them into one pitcher you'd. Have the pitcher of the year in the aisle. Well let's let's get that going The Olympics that's granted towards third but just foul off the hands of Tampere former Astros far mandatory to be honest Josh I. Think the other the right hander is the, more surprising only say that because of how looked initially. Lost, his job out west and It's so This guy kinda crafty showed some dial back. And forth I, mean both the remarkable stories don't get me, wrong oh to pitch camera takes away, one, or two but it looked to me seriously like Josh as Smith's career might be over and the way that he's been able to. Get it back between the lines and dominate That's been great to watch bitch Thursday here the ones who pitch camera takes just off the plate low and away Connor Last. Weekend the Durham bulls found out about the lethal Josh Smith. Combo Lefty beat them Thursday the Radi beat up Friday It'd. Be great to to pitch swing and a miss. He, just flailed that, slider and camper is gone Strikeout number four four Josh Dwayne Smith You mentioned how to.

Josh Dwayne Smith Josh Josh I. John camera FDIC Durham bulls team leader Astros Connor
"fdic" Discussed on KYW Newsradio 1060

KYW Newsradio 1060

01:42 min | 2 years ago

"fdic" Discussed on KYW Newsradio 1060

"Fdic to win at anything you have to start with a good game plan and you have to be ready for whatever the opposing team throws at eu well it's the same for your financial game hi this is rated your and my friends at online trading academy can teach you how to take control of your financial future with strategies used by the wall street pros learn how to spot trends and more importantly spot when those trends are changing like any good game plan online trading academy can give you not only a strong offense of planned to maximize today's market but also a solid defensive planned to be prepared for market corrections when they occur to find out more sign up for a free halfday class at one of the local online trading academy locations and learn their patented strategy for identifying both shortterm and longterm market turning points the best part online trading academy are not brokers or wealth managers they are strictly educators who are ready to teach you to trade and invest for yourself space fills quickly so call eight eight eight six one three trade right now to register for your free halfday class that's eight eight eight six one three trade i made twenty five time now for the kyw business report with the numbers from bloomberg business here's joan doniger there is still volatility to be found on wall street just not as extreme as it was last week the dow rose thirty nine points the nasdaq thirty one and a half the s p seven those gains of more than a 10th to almost a half percent came after losses that saw the dow dropped nearly two hundred points the turnaround was built on a boost in bank consumer staples in some tech shares still strategist say investors are watching inflation closely in waiting for the government picture of january prices jamie cox of the harris financial group says relaxed there's nothing to worry about the created loosen.

eu joan doniger Fdic bloomberg jamie cox
"fdic" Discussed on WRVA

WRVA

02:15 min | 3 years ago

"fdic" Discussed on WRVA

"Fdic gene nick newsradio i'm chris demeo president trump is ran up his trip to vietnam he met late saturday with vietnam's president saying the meeting was productive day india meetings are knows from abc news the president just landing in the philippines the final stop on his asian trip memorial services held in southern texas for the victims of the church massacre hundreds of people have been coming out here to the memorial on the church property the cemetery in sutherland springs is linked by road just be on the church and it will be the final resting place for some of the victims fox is casey steagall fox news we report you'd uh uh news radio eleven forty w rva designer jewelry from show allen naval on it the laura the ninety one years ago congress passed the law it says on november eleven every year we stop military veterans we usually do with a bunch of parades and marching bands but nearly every other day of the year that's much artist who brings other types of music we all listen to those brave men and women hospitals nursing homes hospices yes the says the sounds of heroes a special presentation from iheartradio and musicians on call on bobby bones in nashville for the next half hour we're looking at how nations oncall lifts spirits of those who have served and the people who've stand by their side when they need the most mission of musicians on caused bring musicians and severe hospitals and nursing homes and hospice care rooms play rate at the bedside to patients

trump vietnam president philippines memorial services texas sutherland springs congress bobby bones nashville fdic chris demeo abc casey steagall allen hospice care ninety one years eleven forty w
"fdic" Discussed on WRVA

WRVA

02:15 min | 3 years ago

"fdic" Discussed on WRVA

"Fdic gene nick newsradio i'm chris demeo president trump is ran up his trip to vietnam he met late saturday with vietnam's president saying the meeting was productive day india meetings are knows from abc news the president just landing in the philippines the final stop on his asian trip memorial services held in southern texas for the victims of the church massacre hundreds of people have been coming out here to the memorial on the church property the cemetery in sutherland springs is linked by road just be on the church and it will be the final resting place for some of the victims fox is casey steagall fox news we report you'd uh uh news radio eleven forty w rva designer jewelry from show allen naval on it the laura the ninety one years ago congress passed the law it says on november eleven every year we stop military veterans we usually do with a bunch of parades and marching bands but nearly every other day of the year that's much artist who brings other types of music we all listen to those brave men and women hospitals nursing homes hospices yes the says the sounds of heroes a special presentation from iheartradio and musicians on call on bobby bones in nashville for the next half hour we're looking at how nations oncall lifts spirits of those who have served and the people who've stand by their side when they need the most mission of musicians on caused bring musicians and severe hospitals and nursing homes and hospice care rooms play rate at the bedside to patients

trump vietnam president philippines memorial services texas sutherland springs congress bobby bones nashville fdic chris demeo abc casey steagall allen hospice care ninety one years eleven forty w