Shelby aims to attach bank rules overhaul to spending bill

Posted On Dec 18 2020 by

first_imgby: Victoria McGrane and Ryan TracyOn Tuesday, Senate Banking Chairman Richard Shelby cryptically informed the financial world to “stay tuned this week” for possible developments in a broad financial regulatory bill he wrote in May.On Wednesday, the Alabama Republican revealed his plans: Getting his legislation attached to a Senate spending bill.A subcommittee of the Senate Appropriations Committee voted Wednesday morning to add Mr. Shelby’s legislation to a bill that would fund financial-sector regulators. The full Senate Appropriations Committee is slated to approve the spending bill, with the Shelby text, on Thursday.The maneuver is the latest twist in Mr. Shelby’s efforts to push the most significant set of changes to the financial regulatory regime since the 2010 passage of Dodd-Frank. The Senate Banking Committee approved his legislation in a party-line vote in May. While Democrats on the committee support some of the bill’s provisions, particularly those aimed at lightening the regulatory burden on smaller banks, they strongly oppose others. Mr. Shelby needs the support of at least some Democrats to get the bill passed by the full Senate. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more


NCUA bans 7 from future work in FIs

Posted On Dec 17 2020 by

first_img continue reading » The NCUA in July issued two prohibition orders and five prohibition notices, which prohibit individuals previously associated with credit unions from any future participation in the affairs of a federally insured financial institution.Violation of a prohibition order is a felony offense punishable by imprisonment and a fine of up to $1 million. The names and details from last month’s prohibitions follow:Joey E. Camp, a former employee of Peoria Fire Fighters Credit Union in Peoria, Ill., was sentenced on one count of theft.Amy Denise Fincher, a former employee of Rheem Arkansas Federal Credit Union in Fort Smith, Ark., pleaded guilty to the charge of theft. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img


Syntrus Achmea in talks to offload eight sector-wide schemes

Posted On Sep 29 2020 by

first_imgAchmea, for its part, would incur fewer costs and would face an easier closing process for its administration if the negotiations are successful.The pension funds involved are the schemes for the travel sector (Reiswerk), hairdressers (Kappers), dental technicians (Tandtechniek), concrete products (Betonproducten), the furnishing sector (Wonen), the meat industry (VLEP), the wood trade (Houthandel) as well as wood-processing industry and yacht building (Houtverwerkende industrie).A number of schemes told IPE sister publication Pensioen Pro that they considered a collective transfer as an option, but that they were also in individual negotiations with other potential providers.According to Frank Radstake, chairman of Reiswerk, completing a collective move in time was going to be a “hell of a job” because of the time pressure.Radstake said he expected that Centric would also take on staff, as it doesn’t have in-house expertise for board support, actuarial matters, or communication.Centric and Syntrus declined to provide additional details about the proposals.The pension fund for the furniture industry (Meubel) has already moved its administration from Syntrus to Centric – the IT firm’s first client in the pension space.The sector scheme for foodstuffs (Levensmiddelen) is to join provider AZL on 1 January, while StiPP, the pension fund for temporary workers, has chosen PGGM as its new administrator.The industry-wide scheme for architects (Architectenbureaus) indicated that it had already made much progress in its negotiations with a provider.The IT scheme TrueBlue as well as the sector funds for inland shipping (Rijn- en Binnenvaart), butchers (Slagers), private security (Particuliere Beveiliging), and millers (Molenaars) have already found new providers.Hibin, the industry-wide scheme for the trade in building materials, has decided to implement its pensions administration in-house. Pensions provider Syntrus Achmea and IT firm Centric have confirmed that they are negotiating a collective transfer of the administration of eight sector-wide pension schemes.The funds have been looking for a new administrator since last November, when Syntrus announced that it would cease servicing sector schemes within two years, as its IT systems were unable to cope with the multitude of pension arrangements.If negotiations are successful, Gouda-based Centric could initially take over the existing systems and possibly staff as well, and improve efficiency at a later stage.A collective transfer would also prevent a capacity shortage in the market for pensions provision. The pension funds are in a hurry, as some must leave Syntrus by January 2018.last_img read more


Henry: Four in frame for captaincy

Posted On Sep 21 2020 by

first_img Press Association The Ulster loose-forward sees Ireland’s autumn international captaincy as a four-way fight between Paul O’Connell, Brian O’Driscoll, Jamie Heaslip and Rory Best. New head coach Schmidt will confirm his skipper on Thursday, with Munster talisman O’Connell still the favourite despite continued calf trouble. O’Connell is expected to feature in Saturday’s opening autumn clash against Samoa in Dublin, but forwards coach John Plumtree admitted he may not last the full match. Henry admitted whoever Schmidt chooses will receive the squad’s full backing but he revealed the four men he feels best-placed to lead the side. “We as players don’t really know who the captain is yet,” said the eight-cap forward. “But look around: there are options all over the place and Paul (O’Connell) definitely is up there. “There’s a lot of inspirational characters there. I suppose sometimes when I’m running around training, you look at the circle of players and you still have to take a second glance sometimes, with Paulie, Drico and Jamie, and Rory as well. “Whoever gets the nod will be extremely proud of course but there are options all over the place, and the fact that we have so many leaders, whoever gets the nod will have a lot of experienced hands behind him as well. “I’m glad I don’t have to make the decision, but in my head the four candidates would be Paul, Drico, Jamie and Rory. “Any one of those boys will do exactly the right job and we’d all stick behind them exactly the way it should be.” Ireland boast four captaincy front-runners who could lead the squad into the Joe Schmidt era, believes flanker Chris Henry. Lock O’Connell, centre O’Driscoll, number eight Heaslip and hooker Best hold a combined 334 caps, with an average age of 32. Ireland’s need to usher in long-term successors in a host of positions underpins Schmidt’s accession. Henry expects big-hitting Samoa to provide a stern test of Ireland’s early credentials under former New Zealand schoolteacher Schmidt. But he warned the Pacific Islanders’ physical threat will be matched by their defence-splitting offloading game. Henry said: “The small bit of defence we have done so far has been about their offloading game; their continuity. “Once they get the ball, it’s about us trying to connect (tackle) as quickly as possible. “We want to keep the ball but there are going to be turnovers and whenever that happens we’ve got to respond very quickly. “They’ve got some serious ball carriers in their team and they always want to keep the ball alive. “We’ve got to focus on that ball and stop the offloads.” last_img read more