GAO Notes Problems in Financial Regulatory Framework

GAO Notes Problems in Financial Regulatory Framework Government Accountability Office Regulatory Framework 2016-04-06 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post About Author: Brian Honea in Featured, Government, News Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago This week, the Senate Banking Committee debated on whether consumer financial regulations that have passed since the crisis are helping or harming consumers.Meanwhile, the Government Accountability Office (GAO) noted in a recent report that while the current financial regulatory structure has contributed to the overall growth and stability of the U.S. economy, the structure has also “created challenges to effective oversight.”“Fragmentation and overlap have created inefficiencies in regulatory processes, inconsistencies in how regulators oversee similar types of institutions, and differences in the levels of protection afforded to consumers,” the GAO said.For example, the GAO said inconsistencies in examination activities of depository institution regulation can not only result in difficulties identifying emerging trends, but can also result in different conclusions when it comes to the safety and soundness of an institution. Also, the regulation of securities and derivatives markets by separate agencies has resulted in duplicative and inconsistent regulation of entities that engage in similar activities.The GAO said its report that it established a framework in 2009 in order to evaluate regulatory reform proposals, and that an effective regulatory system would need to address structural shortcomings created by fragmentation and overlap. The existing regulatory structure, however, does not ensure efficient and effective oversight, consistent financial oversight, or consistent consumer protections; and as a result of this, “negative effects of fragmented and overlapping authorities persist throughout the system,” according to the GAO.“Fragmentation and overlap have created inefficiencies in regulatory processes, inconsistencies in how regulators oversee similar types of institutions, and differences in the levels of protection afforded to consumers.”Government Accountability OfficeThe financial crisis highlighted the need for an agency to monitor and address risks across the financial system, which the Dodd-Frank Act tried to address by creating the Financial Stability Oversight Council (FSOC) and the Office of Financial Research (OFR) in 2010. The GAO noted that “collaborative efforts have not been sufficient, and FSOC’s authorities are limited and unclear,” however.“Although FSOC’s mission is to respond to systemic risks, which may involve multiple entities, its recommendations are not binding and do not guarantee regulatory response,” the GAO said in its report. “FSOC has authorities to designate certain entities or activities for enhanced supervision by a specific regulator, but these authorities may not allow FSOC to address certain broader risks that are not specific to a particular entity. For such risks, FSOC can recommend but not compel action.”The GAO concluded that Congress should consider whether changes are necessary to the current financial regulatory structure in order to reduce, or better manage, fragmentation and overlap, and also whether legislative changes will be necessary in order to align FSOC’s authority with its mission to respond to systemic risks.“GAO also recommends that OFR and the Federal Reserve (1) jointly articulate individual and common goals for their systemic risk monitoring activities and engage in collaborative practices to support those goals; and (2) regularly and fully incorporate their monitoring tools, assessments, or results of monitoring activities into Systemic Risk Committee deliberations,” the GAO said in the report, noting that the Fed and OFR agreed with the GAO’s recommendations.Click here to view the GAO’s complete report. Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Subscribe Previous: Housing Counseling Moves Toward ‘Modernization’ Next: Fed Says April Rate Hike is All But Off the Table Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Featured / GAO Notes Problems in Financial Regulatory Framework The Best Markets For Residential Property Investors 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago April 6, 2016 1,106 Views Sign up for DS News Daily Tagged with: Government Accountability Office Regulatory Framework Related Articles read more

Peru impeachment protests: Clashes with police with police turn deadly

first_img– Advertisement – Last year, the president dissolved Congress, arguing that lawmakers were obstructing his anti-corruption agenda. A new Congress was elected in January, but tension remained high between the legislative and the executive, with Mr Vizcarra accusing lawmakers of fostering “chaos and disorder”.last_img

Aussies plot to stop spin star Rashid Khan

first_img… Maxwell suggests restraint, as Australia ponder how to overcome unpickable AfghanGLENN Maxwell is one of limited-overs cricket’s best players of spin, but the all-rounder says Australia might need to take their medicine to successfully counter the threat of spin wizard Rashid Khan in their World Cup opener against Afghanistan.The Australians know Rashid perhaps better than any of Afghanistan’s opponents, yet Maxwell admits the 20-year-old remains one of the few bowlers in world cricket who can make the best look downright silly.Even gloveman Alex Carey, who kept to him for two full KFC Big Bash seasons at Adelaide Strikers and faced him countless times in the nets, struggles to pick him at night time.“At times I think I can (pick him),” Maxwell said of Rashid, who averages 16.02 in the BBL and holds the ODI record as the fastest man to 100 wickets. “He’s very difficult. He is probably one of the more difficult ones (spinners) I’ve played against.“He and (West Indies finger-spinner Sunil) Narine are probably the two you go through stages where you think you are going to hold them and then they bowl a ball that beats you.“And you sit there shaking your head.“For me, I feel like I don’t think I’m going to get out to him, but I don’t feel like I’m going to score much off him.“It’s about targeting other blokes and making sure I’m putting pressure on him to change his lengths and I felt like I did that against him during the Big Bash at different times.“I will be drawing on that experience a little bit. We’ve got a bit of footage to watch, but it’s a different kettle of fish when you’re actually facing him.”Australia’s batters will this week sit down to discuss how they intend to counter Rashid for their clash with Afghanistan in Bristol on Saturday.And should they look closely at his numbers against each of them in the BBL and the IPL (none of Australia’s batters have played against him in international 50-over cricket), they may decide Maxwell’s cautious strategy against him has merit.Data provided by Opta show Maxwell is one of only two batsmen in Australia’s World Cup squad to have faced at least five balls from Rashid and not been dismissed by him.From the 16 deliveries Rashid has bowled to Maxwell, the Victorian has scored 19 runs (a reasonably low strike-rate given he’s only played him in T20 cricket), though he played a false shot to nearly a third of those balls. Shaun Marsh is the other batter to have successfully negated Rashid, managing 17 runs off 15 balls.Rashid has had more success against Marcus Stoinis (who’s gone out to the leggie twice in just 13 balls), Aaron Finch (dismissed twice in 23 balls) and Steve Smith (once in 22 balls).Further backing up Maxwell’s point about showing restraint is the fact he and Marsh have also been the least aggressive players against Rashid among Australia’s World Cup batters. Marsh has attacked just 20 per cent of the balls Rashid has bowled to him and Maxwell 31 per cent.On the other hand, the trio of Finch (who attacked 74 per cent of balls he’s faced off Rashid), Stoinis (54 per cent) and Smith (45 per cent) have been more cavalier.Left-hander Usman Khawaja has faced only three balls off Rashid, while Carey and David Warner (his teammate at Sunrisers Hyderabad in the IPL) haven’t faced him in a match.“I think just putting pressure on them to bring back the medium pace and faster bowlers might be the way we go,” Maxwell continued.“But once we have that batting meeting during the week guys will come out with certain plans. Guys might target him, I don’t know.”Leg-spinner Adam Zampa has previously explained that Rashid’s greatest strength is his ability to hold the ball more loosely than other wrist-spinners, making it difficult for batters to decipher the difference between wrong’uns and leg-breaks.“The reason he runs in so fast is because he’s got really thick fingers and holds the ball right at the end (of his fingers),” Zampa explained.“I bowl it (with the ball) right in my palm; he bowls it right at the end. He’s so hard to pick because he just uses the end of his fingers.“I tried doing it but they were just slipping out.“I was like, ‘this bloke is unbelievable’.”last_img read more

SCJ Alliance Celebrates Expansion, Rebranding, Seven Year Anniversary

first_imgSubmitted by SCJ AllianceThe Olympia office team pauses from their busy schedules to commemorate SCJ Alliances 7 Year Anniversary.As SCJ Alliance crosses the plate for their seventh anniversary, looking back it’s been a homerun year. A name change from Shea Carr Jewell, rebranding, expansion to Southwest Washington and added services have produced impressive numbers.“We’ve gone from five Costco tables as desks to offices in five communities across three states,” shares co-founder Perry Shea, PE, reflecting on the firm’s beginnings in 2006. “We’re always on the lookout for new opportunities to serve our clients better, as well as provide our talented staff with opportunities for growth.”Headquartered in Olympia, WA, SCJ Alliance also has offices in Wenatchee and Vancouver, WA; Boise, ID; and Westminster, CO. A consulting and professional services firm, SCJ has provided the engineering and planning expertise behind many projects in the region. Examples include Port Townsend’s recent downtown streetscape improvements, Olympia’s master planned Briggs Village, WinCo Foods stores in Sumner and Bremerton, and Bonney Lake’s many intersection improvements along SR 410.“We changed our name to reflect our expanded offerings and growth beyond the Puget Sound region,” said co-founder Jean Carr, LEED AP BD+C. “Our rebranding also reflects our broader range of services including environmental, website, information technology, communication and public relations. These complement our previously existing services like civil engineering, transportation planning and design, and land use planning to name a few,” Bob said.Co-founder Bob Jewell, PE reflects on the role diversification has played in the firm’s success. “Diversification in market sectors, project types and firm services has provided stability and opportunity. This allows us to be creative, move quickly and weather the tough economic times.”SCJ starts their next “inning” at a sprint with new, high visibility projects. “We are very excited to be involved with both the world’s largest Ferris Wheel in Las Vegas and improvements planned on I-5 adjacent to JBLM spanning five miles and four interchanges,” said Perry.SCJ also remains focused on continuing to serve existing and traditional clients like municipal and private developers. “We have been working on planning and engineering for Briggs Village since the 1990s. It’s rewarding to see that project coming to life,” said Jean. SCJ also has long term involvement with planning and design for Saint Martin’s University (SMU). SMU is the alma mater for a number of SCJ’s engineers including Perry and Bob.For SCJ, it’s a good time to be in business. “Developers are dusting off projects that have been sitting for five or six years,” says SCJ Principal Eric Johnston, PE. Eric is assisting the rural town of Wilkeson in corridor planning, creating a Town Center that will be a part of the Foothills Trail visioned to span from Tacoma to Mt. Rainier.“SCJ is committed to being an active community member,” says Principal Amy Head, PE, LEED AP BD+C. “It gives me great pleasure to work on projects of community significance like the new Boys & Girls Club, and East Bay Plaza,” shared Amy. SCJ also actively supports the missions of Rebuilding Together, Thurston EDC, multiple Chambers of Commerce, the South Sound Reading Foundation, Leadership Thurston County, cancer prevention groups and little league teams, to name a few.SCJ Alliance has been widely recognized since its founding, including the following awards:2012 Tacoma-Pierce County Chamber’s Spotlight on Business Award2012 Zweig Letter Hot Firm List as one of the fastest growing firms in the nation2011 Zweig Letter Hot Firm List2010 Best Firms to Work For by Civil Engineering News2010 Zweig Letter Hot Firm List2009 Small Business of the Year by the Thurston EDC2009 Best Firms to Work For by Civil Engineering News Facebook0Tweet0Pin0last_img read more

Buntzen to Exhibit Collages at the AH Arts Council

first_imgATLANTIC HIGHLANDS – Collage artist Richard Buntzen will present a solo exhibition Sept. 21 to Oct. 19 at the Arts Council Gallery in the second floor of the Finelines Building, 21 W. Lincoln Ave. An opening reception will be held at 2 p.m. Saturday, Sept. 21.Buntzen’s use of fragments of black-and-white and color newsprint are outstanding examples of creative design. He completed his Master of Art and Master of Fine Arts degrees at New Jersey City University in Jersey City. He is a member of the Atlantic Highlands Arts Council.A talk and demonstration by the artist will be held at 7 p.m. Wednesday, Oct. 2, and a panel discussion, “What a Good Idea: Innovative Art,” will be held at 2 p.m. Saturday, Oct. 12. Exhibit hours are 4 to 8 p.m. Wednesdays, 1 to 4 p.m. Saturdays. Exhibit and programs are free and open to the public at the Arts Council Gallery.The AHAC, aharts.org, is a registered 501(c)3 nonprofit organization. The mission of the Atlantic Highlands Arts Council is to strengthen community through the arts.For more information, visit www.aharts.org.last_img read more

WITH STEVENS AT THE CONTROLS, FAVORED OM TAKES GRADE II, $200,000 MATHIS BROTHERS MILE (TURF) BY 1 ¾ LENGTHS; HENDRICKS TRAINEE GETS DISTANCE IN 1:35.57

first_imgARCADIA, Calif. (Dec. 26, 2015)–Favored Om got a perfect tracking trip under Gary Stevens and registered a confident, 1 ¾ length win in Saturday’s Grade II, $200,000 Mathis Brothers Mile (turf), as he negotiated a flat mile in 1:35.57.With Acceptance, ridden by Alonso Quinonez showing the way into the Club House turn, the Dan Hendricks-conditioned Om, a Kentucky-bred colt by Munnings, sat second throughout, took command at the top of the lane and repelled the challenge of runnerup Perfectly Majestic the final furlong.“The race set up perfectly for him,” said Hendricks. “He’s got the natural speed to be placed wherever Gary wants. We were either going to the front or going to sit second today, and it just worked out perfect.”Off at 6-5 in a field of 11 three-year-olds, Om, who is owned by the Sareen Family Trust, paid $4.40, $3.00 and $2.60. Third, beaten a half length as the 4-5 favorite in the Grade I Hollywood Derby at Del Mar Nov. 28, Om is now a perfect two for two at a mile on turf at Santa Anita and he improved his overall mark to 10-5-1-2. With the winner’s share of $120,000, he improved his earnings to $550,500.“He felt super today,” said Stevens, who has ridden him in his last starts, including victories in a pair of Grade II stakes, the Del Mar Derby on Sept. 6, and the Twilight Derby at Santa Anita on Oct. 24. “We got beat by a good horse in his last out in the Hollywood Derby and it just wasn’t his day down there.“Today, everything went perfect. We were rolling into the turn, I got to slow it down and he got a nice breather. He hit the after-burners at the eighth pole. There was a horse coming to him and he still had something left and he gave it to me.“The turf course here is superb. Santa Anita has done a great job with it.”Ridden by Kent Desormeaux, Perfectly Majestic rallied from far back for the place, finishing 4 ¾ lengths in front of Vigilante. Off at 23-1, Perfectly Majestic paid $14.00 and $7.40.Vigilante, who was ridden by Joe Talamo, was last after a half mile and rallied to overhaul pacesetting Acceptance by a half length for the show. Off at 8-1, he paid $5.00.The Mathis Brothers Mile, the second of four graded stakes on Santa Anita’s Opening Day, was carded as the sixth race on a nine-race program.last_img read more

Track & Field Heads To MVC Outdoor Championship

first_img Friday ESPN+ Broadcast 2018 MVC Championship Heat Sheets Schedule Championship Central Action for the Bulldogs begins Friday with the multi-events in the morning followed by the javelin at 4 p.m. Events on the track begin at 6 p.m. Competition resumes Saturday at 3 p.m. before finals begin Sunday at 1:00 p.m. Senior Mary Young (Urbandale, Iowa) will look to defend her 100-meter hurdles title from a year ago. Young has finished in the top-five in every outdoor meet this season and currently holds the third best time in the Valley of 13.79. Fellow hurdler, Victoria Coombe (Centennial, Colo.) aims to continue her strong junior campaign just weeks after setting a personal best time of 1:00.80 in the 400-meter hurdles at the Tom Botts Invitational. Her mark leads the Valley by nearly a second and ranks as the sixth fastest time in school history. On the men’s side sophomore Caulin Graves (Kansas City, Mo.) returns to the MVC Championships a year after taking fourth and second, respectively, in the 100 and 200 meters last season. At the 2018 Drake Relays presented by Hy-Vee, Graves tied a personal best 100m time of 10.51 which ranks fourth this season in the Valley. Kundai Maguranyanga (Glen Zorah, Zimbabwe) rounds out the Valley top 10 in the 100m while Maguranyanga also ranks 3rd in the 200m. Sunday ESPN+ Broadcast Live Results center_img Taryn Rolle (Nassau, The Bahamas) is another Bulldog aiming to add an MVC title to her resume to build upon her second-place triple jump finish from last year’s championships. Earlier this season after just narrowly missing a school record multiple times, Rolle set the Drake triple jump record at the Jim Duncan Invitational with a mark of 41-8.5 (12.71m) that ranks 59th in the NCAA this season. The Drake University track and field teams are set to travel to Terre Haute, Ind., for the 2018 Missouri Valley Conference Outdoor Track & Field Championships May 11-13. The championship, hosted by Indiana State, will have all portions of all three days aired on ESPN+. Story Links Saturday ESPN+ Broadcast The Bulldogs also have a pair of javelin throwers in Max Harlan (Hopkins, Minn.) and Jake Taylor (Whitefish Bay, Wis.) who are both coming off career performances at the Drake Relays. Harlan and Taylor rank fourth and fifth in the Valley with marks of 172-3 and 171-1. In the MVC’s annual pre-championship poll, the Drake men were projected to finish sixth overall while the women were selected seventh. Illinois State was the unanimous pick for both the men’s and women’s titles.  Print Friendly Versionlast_img read more

Stern calls for NBA changes of marijuana rules

first_imgMOST READ Brace for potentially devastating typhoon approaching PH – NDRRMC Read Next QC cops nab robbery gang leader, cohort Paranaque cemetery bust: Marijuana seized from minor PLAY LIST 02:11Paranaque cemetery bust: Marijuana seized from minor00:50Trending Articles01:48NBA: Kawhi, George seek more for Clippers than beating Lakers01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games LATEST STORIES CPP denies ‘Ka Diego’ arrest caused ‘mass panic’ among S. Tagalog NPA Kin of Misamis Oriental hero cop to get death benefits, award — PNP Nets overcome James’ triple-double, beat Cavaliers Stronger peso trims PH debt value to P7.9 trillion Japan ex-PM Nakasone who boosted ties with US dies at 101 In this Oct. 23, 2013, file photo, NBA Commissioner David Stern smiles during a news conference after an NBA board of governors meeting in New York. The recently retired Stern was elected Friday, Feb. 14, 2014, to the Naismith Memorial Basketball Hall of Fame and will be enshrined with the class of 2014. APNEW YORK — Former NBA Commissioner David Stern believes medicinal marijuana use should be allowed, but the league says it won’t allow players to use it for recreational use.Stern was interviewed by ex-NBA player Al Harrington for the website Uninterrupted’s documentary “Concept of Cannabis.” Stern said he thought there was “universal agreement that marijuana for medical purposes should be completely legal.”ADVERTISEMENT Kammuri turning to super typhoon less likely but possible — Pagasa Don’t miss out on the latest news and information. Typhoon Kammuri accelerates, gains strength en route to PH View comments Adam Silver, who replaced Stern as commissioner in 2014, has said he is interested in studying more about the safety of medicinal marijuana. But Stern, who spent 30 years as commissioner, seemed ready to go a step further in his interview.“I think we have to change the Collective Bargaining Agreement and let you do what is legal in your state,” he said. “If marijuana is now in the process of being legalized, I think you should be allowed to do what’s legal in your state.”FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutMarijuana is listed as a prohibited substance on the league’s anti-drug program, and players can be fined or suspended for multiple positive tests.“While Commissioner Silver has said that we are interested in better understanding the safety and efficacy of medical marijuana, our position remains unchanged regarding the use by current NBA players of marijuana for recreational purposes,” NBA spokesman Mike Bass said.last_img read more

Dwyane Wade surprises graduates at Stoneman Douglas

first_img“I’m so proud to say the words ‘MSD Strong,’” Wade said. “Today, you will close a chapter in your lives and embark on new experiences and journeys and memories. And it’s a time to celebrate and be proud of everything you’ve done to make it to this moment. As you know, I, too, recently closed a pretty significant chapter in my life. So in a way I feel like I can relate to what’s going on in your minds right now.”Wade’s appearance was not publicly disclosed before it happened; such was the case when he visited the school the day it reopened following the shootings on Feb. 14, 2018. He relayed the story of what went into that visit, and how he was unsure if his remarks would have any real impact on a grieving student body.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSPalace wants Cayetano’s PHISGOC Foundation probed over corruption chargesSPORTSSingapore latest to raise issue on SEA Games food, logistics“What started going through my mind was, ‘How do I dare come here and act like I know what you guys have been going through? How narcissistic of me to think I can come here and make a difference because I’m good at my sport?’” Wade said. “I remember walking slowly to the cafeteria. As I was walking in, students started seeing me, started seeing smiles, people running, pulling out their phones.“And I remember thinking, ‘Wow,’” Wade said. Wade has spoken of that day often and has remained an advocate of improved school safety. One of the shooting victims, Joaquin Oliver, was a huge fan of the three-time NBA champion and was buried in a Wade jersey.Wade closed his remarks by asking those in attendance to join him in a cheer that he used to spur on the Miami Heat in the 2013 NBA Finals, something he borrowed from one of his favorite films, “Red Tails,” which tells the story of the Tuskegee Airmen during World War II.He would lead the Heat in the cheer, punctuated by the words “to the last man, to the last minute, to the last second, we fight! We fight! We fight!” And once he led the graduates and their guests in the cheer Sunday, he wrapped up his speech by again saying “MSD Strong” — the school’s mantra since the tragedy. Two-day strike in Bicol fails to cripple transport DA eyes importing ‘galunggong’ anew View comments Don’t miss out on the latest news and information. Duterte wants probe of SEA Games mess Sports Related Videospowered by AdSparcRead Next MOST READ Private companies step in to help SEA Games hosting Catholic schools seek legislated pay hike, too ‘Rebel attack’ no cause for concern-PNP, AFP Cayetano: Senate, Drilon to be blamed for SEA Games mess LATEST STORIES ADVERTISEMENT Ethel Booba twits Mocha over 2 toilets in one cubicle at SEA Games venue Trending Articles PLAY LIST 00:50Trending Articles00:50Trending Articles00:45Onyok Velasco see bright future for PH boxing in Olympics02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss Draw opening up for Stephens to reach French Open final FILE – In this Feb. 14, 2019, file photo, people gather around the “Temple of Time” in honor of the 17 that were killed during the Marjory Stoneman Douglas High School shooting in 2018 in Coral Springs, Fla. The temple built as a memorial to the 17 victims of a Florida high school mass shooting is to be burned to the ground in a symbolic gesture of healing. (AP Photo/Wilfredo Lee, File)SUNRISE, Fla. — Retired NBA star Dwyane Wade was a surprise guest speaker Sunday at Marjory Stoneman Douglas High School’s graduation ceremony, leading cheers and recalling how nervous he was to meet students following the on-campus shootings last year that claimed 17 lives.Wade called himself “part of this MSD family” and told graduates that it was understandable if they feel unsure about their futures — because in some ways, after 16 years in the NBA, he also is unsure exactly what his future entails.ADVERTISEMENTlast_img read more