Judge dismisses NCUA suit against US Bank, BoA as RMBS trustees

first_imgA U.S. District judge Monday dismissed three lawsuits–including one by the National Credit Union Administration–brought against U.S. Bank National Association and Bank of America, National Association regarding their duties as trustees of residential mortgage-backed securities (RMBS).NCUA filed the lawsuit in December alleging the two banks failed to fulfill their duties as trustees for 99 of the trusts. Despite knowing about defects in the mortgage loans, the complaint said, U.S. Bank and Bank of America failed to provide required notices to certificate holders and other parties and failed to take timely action to force the repurchase, substitution or cure of defective mortgage loans or otherwise preserve trust remedies (News Now Dec. 18).U.S. District Judge Katherine Forrest ruled the NCUA lacked standing to sue U.S. Bank and Bank of America over 74 of the trusts that the agency moved into new, independent trusts (Bloomberg May 19).Nothing in federal securities law “authorizes NCUA (or the [corporate credit union] for which it acts as liquidating agent) to sue on behalf of separate statutory trusts,” Forrest ruled, according to court documents. continue reading » 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Onsite THiNK17: Beyond the buzzword

first_img“Digital Transformation”: It’s been the buzzword of THiNK17 so far, but what does that actually look like?Often times we think that if we add some digital components to our business model then we have embraced digital, we did it, we finally became digital! Unfortunately, in those cases we are confusing “digital transformation” with “digitalization”. When we add a layer of digital to a current legacy system we are upgrading it and solving some problems, but we aren’t transforming the way we operate.We had the pleasure of hearing from Columbia University Professor and author, David Rogers today, and he gave us a breakdown of 5 key components to help you on your path to digital transformation:Members (or really anyone you serve, such as your employees): we need to take them from being passive targets to part of our dynamic network.Competition: pay attention to what’s around you, your competition might not look like you so you need to be able to identify them. (ie: Uber and Google can be competition for Toyota)Data: it’s time to get the data out of silos and find outside partners who can help turn the data we have into an asset by allowing us to act quickly.Innovation: Move away from top-down planning that is slow and expensive, to rapid experimentation so that you can fail smarter and innovate faster.Value: Go from defending your model to adapting and changing to stay relevant.When these 5 pieces come together then you have completely transformed your organization to be the place that people think of when they think of digital companies, alongside Google and Netflix. The path to digital transformation can be hard, but if you keep the focus on the problem that you are solving, the big picture, instead of trying to make what you have fit into place, then you’re sure to be successful. 13SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Amanda Reed Web: www.CUInsight.com Detailslast_img read more

2018 trends in commercial banking: Financial institutions are open for business

first_imgIt won’t be business as usual in 2018. Change is in the air in commercial banking, from new technologies and players to possible shifts in regulations and the tax code. How financial institutions respond to those changes will affect bottom lines and the ability to make inroads in the market.Bolstered by a relatively positive economic outlook, expectations are that business will continue to perform favorably in the coming year. That optimism bodes well for financial institutions because companies of all sizes will look for assistance growing and operating more efficiently.In the coming year, look for commercial banking to remain a key profit center for most financial institutions, especially for those that focus on robust cash management, commercial lending and money movement offerings. Here are four trends to watch: continue reading » 29SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Remembering what matters

first_imgThe end of the year is always a fun and exciting time, filled with reflections of the year that was, and hope for a joy-filled new year.  For Young Professionals, the end of the year is more than just wearing your favorite ugly sweater at the work holiday party or dress down day:  It is a great opportunity to reflect on your successes of 2019 and set goals for a more successful 2020.In writing this article, I had no trouble putting together the “what to do” and “how to do it”.  But I kept getting stuck on the most important part of the equation: “why?”.  I then thought to myself, what measures success, anyway?   What if my advice for someone to be more successful doesn’t fit with their idea of success?  Most importantly, why do I do what I do, and how does that tie back to the goals I set for myself?That’s when this article changed completely, in the same way my career – and my life – changed on July 9th, 2019.  That day was by far the most successful day of my year, and I barely looked at my email.  (My wife knows me too well for me to say I didn’t look at all.)  That day, we welcomed our son, Jacob Raymond Mattone, into the world. From that moment on, my “why” was set in stone.  And my measuring stick for success in 2020 and beyond?  Making sure I do what I can do to be a good father, provider and role model for my son.  He is what matters to me.  He is my “why”.For a more successful 2020, I’m going to come to work everyday with a positive attitude, so that Jake learns the importance of doing what you love. I’m going to do more to help my colleagues, so that he learns the value of teamwork.  I will use the resources of our Credit Union and my skill set to help more people, so that my son sees the positive impact of doing good for others, and how good it feels to help.  And I’m going to do a better job balancing my career and my life.  Because I’ve had years in my career where I thought I was successful, but looking back it was someone else’s idea of success, not mine.  Time that I wasted chasing something I didn’t really want; which I could have dedicated to the people and things I truly care about.Too often as young people, we work ourselves to the bone so that we can be successful; reach tangible goals; thrive in a competitive business landscape, and earn a good living.  For YPs in the Credit Union movement, we take pride in helping people achieve their financial goals and aspirations.  But why? It’s not for the paycheck or for the Fridays that we can wear jeans to work.  There is more to what you do in your Credit Union Career, and remembering what matters to you and working off of your “why” will lead you to your most successful year, whatever you define that to be.  So for a more successful 2020, the advice I can give to you is this: Write down what matters most to you. Write down your purpose.  And go out every day, with 100% effort, confidence and focus towards living your “why”. 19SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Michael Mattone Michael Mattone is the Vice President of Marketing and Member Experience at Hudson River Financial FCU, a $60 million credit union serving members who live, work or worship in Westchester, … Web: https://hudsonriverfinancial.org Detailslast_img read more

Rocorose Turtleneck Dress Is the Definition of Minimalist Chic

first_imgUs Weekly has affiliate partnerships so we may receive compensation for some links to products and services.When it comes to fashion, we all have different tastes. While some trendy shoppers tend to embrace being called extra, others like to keep it relatively tame — opting for staple pieces in timeless silhouettes. In fact, we’ve seen a rise in the minimalist style over the past few years. The simplicity is a welcome addition to our closets, and it’s led to the purchase of so many sophisticated garments.- Advertisement – Dresses like this beauty from Rocorose are the perfect example of understated and chic fashion. Yes, it’s a basic dress — but it’s also an instant classic and the ideal foundation of any fall or winter ensemble.Rocorose Women's Turtleneck Ribbed Long Sleeve Knitted Sweater DressRocorose Women’s Turtleneck Ribbed Long Sleeve Knitted Sweater Dress AmazonSee it!Get the Rocorose Women’s Turtleneck Ribbed Long Sleeve Knitted Sweater Dress for prices starting at $31, available at Amazon! Please note, prices are accurate at the date of publication, November 6, 2020, but are subject to change.- Advertisement – Get the Rocorose Women’s Turtleneck Ribbed Long Sleeve Knitted Sweater Dress for prices starting at $31, available at Amazon! Please note, prices are accurate at the date of publication, November 6, 2020, but are subject to change.Good news: This dress will look elegant teamed with any type of jacket, be it a moto moment or a winter coat. While there are so many fabulous features, the turtleneck immediately elevates it to the fall fashion hall of fame. This dress has sleek style completely nailed, and we’re obsessed!See it: Get the Rocorose Women’s Turtleneck Ribbed Long Sleeve Knitted Sweater Dress for prices starting at $31, available at Amazon! Please note, prices are accurate at the date of publication, November 6, 2020, but are subject to change.Not what you’re looking for? Check out more styles from Rocorose and shop all of the clothing, shoes and jewelry available at Amazon! Don’t forget to check out all of Amazon’s Daily Deals here!Check out more of our picks and deals here!This post is brought to you by Us Weekly’s Shop With Us team. The Shop With Us team aims to highlight products and services our readers might find interesting and useful, such as face masks, self tanners, Lululemon-style leggings and all the best gifts for everyone in your life. Product and service selection, however, is in no way intended to constitute an endorsement by either Us Weekly or of any celebrity mentioned in the post.The Shop With Us team may receive products free of charge from manufacturers to test. In addition, Us Weekly receives compensation from the manufacturer of the products we write about when you click on a link and then purchase the product featured in an article. This does not drive our decision as to whether or not a product or service is featured or recommended. Shop With Us operates independently from advertising sales team. We welcome your feedback at ShopWithUs@usmagazine.com. Happy shopping! – Advertisement – This dress is made from a stretchy knit material, and it’s just as comfortable as an oversized sweater. It’s snug and intended to be form-fitting, but it reportedly doesn’t feel too tight thanks to the soft material. If you’re not feeling particularly confident these days, you can easily throw shapewear underneath this dress to smooth you out. But fret not, because anyone can look great in this dress — Spanx or not!This is a midi-length frock that reaches about halfway past the knee, depending on your height and body type. The sleeves are extra long and extend past the wrists, and the cherry on top is the cozy turtleneck neckline that will keep you warm and cozy.Rocorose Women's Turtleneck Ribbed Long Sleeve Knitted Sweater DressRocorose Women’s Turtleneck Ribbed Long Sleeve Knitted Sweater Dress AmazonSee it!- Advertisement –last_img read more

Focus: Breaking Travel News interview: Joelene Ranby, programme coordinator, Resolution Retreats

first_imgHaving been recognised as one of the leading hospitality providers in New Zealand by the World Spa Awards, Breaking Travel News here chats with Joelene Ranby, programme coordinator with Resolution Retreats, about the prestigious honour – Advertisement –last_img

Medan District Court declared COVID-19 cluster, one judge dies

first_imgHe added that all of the infected staff and judges had immediately gone into self-isolation.Judge Immanuel Tarigan of the Medan District Court said that, given the latest situation, the work-from-home policy for staff and judges that was supposed to end on Thursday would be extended to Sept. 11.Immanuel admitted that the extension of working from home would affect the integrated service at the district court. “The court will temporarily close the one-stop integrated service [PTSP], which serves the submission of files and claims. However, we are still open for trials,” he said.Meanwhile, Medan District Court spokesperson Tengku Oyong said the court would impose a lockdown if there was still COVID-19 transmission among court staff and judges next week.On Thursday, North Sumatra saw 141 more confirmed COVID-19 cases and three more COVID-19 deaths, bringing the total number of infections in the province to 7,265 and fatalities to 324. Meanwhile, a total of 4,282 patients have recovered from the disease. (aly)Topics : The Medan District Court in North Sumatra has been declared a COVID-19 cluster after 38 staff members and judges, including the head of the court, Sutio Jumagi Akhirno, tested positive for the coronavirus.One of the judges, Somadi, has reportedly died of the disease and was buried under COVID-19 protocol on Wednesday evening.“According to swab test results from Wednesday, 25 staffers and 13 judges are COVID-19 positive. We will do more testing on Friday to determine the number of staff infected and curb the transmission,” Medan District Court deputy chief Abdul Aziz told The Jakarta Post on Thursday.last_img read more

Family start again on family home dream with complete rebuild

first_imgThe home goes to auction this weekend.Although he was impressed with the home they built — with six bedrooms — he said it got to the point where it was just too big for the three of them.“We have had three families in here and you can’t even feel it,” he said.“Some of the rooms haven’t even really been lived in.”The home will be auctioned by Andrew Flanagan at Ray White Ascot tomorrow on site at 29 Alcester St, Grange, at 9am. BEFORE: The older home was knocked down when tree roots caused a problem.Although a complete rebuild came with a large price-tag, it gave him the chance to create something very spacious and modern. More from newsParks and wildlife the new lust-haves post coronavirus18 hours agoNoosa’s best beachfront penthouse is about to hit the market18 hours agoThe original home was split level with a garage and laundry on the ground floor, although this was more by necessity as there was a deep slope on the block. Thanks to some excavation and landscape work, the new home became a true two-storey house. INSIDE: The new house was much larger than the original.The ground floor has an open plan centred on a combined kitchen, dining and living area, overlooking an outdoor entertainment area.“Each of us has a favourite thing, and mine is the cinema room with 7.1 surround sound,” he said.“My wife loves the kitchen and the deck and my daughter loves her room and the playroom upstairs.”center_img Joanne and Chris Goh with daughter Christina 9 are saying goodbye to their custom built family home that is going to auction this weekend. Photo AAP/ Ric FrearsonNature ended up having it in for Chris Goh when he bought a ’60s era home in Grange back in 2012.He thought he had found the ideal home for his family, but soon after he purchased it he found out the roots of two trees near the house were causing serious problems.The potential bill to deal with the trees got so expensive that he faced a big decision about what to do with the home.“It was pretty far-gone so we chose to demolish,” Mr Goh said. “It was basically a single storey weatherboard house with a lot of asbestos.”last_img read more

Montae: ‘COVID-19 will increase pressure for local investment’

first_imgPressure on Dutch pension funds is expected for them to deploy a combined total of €1.5trn to assist ailing companies and participants, if the COVID-19 pandemic causes a drawn-out economic recession, a consultant has warned.In a blog on his company’s website, Sander Baars, senior partner at Montae, said that such a scenario would raise pressing questions about the distribution of scarce public and private assets, including pensions.“In particular in these extreme conditions, one might expect that pension funds offer to help […] and not only by temporarily granting delayed payment of contributions,” he said.Baars suggested that pension funds could support participants and affiliated firms by ceasing cashing in premium payments as well as pension accruals for now. This would give participants financial leeway, for example in case a partner loses income, and offers companies the opportunity to increase their profitability and employment as a consequence of reduced salary costs, he said.The consultant added that companies could also use their “non-spent” pension contributions for investment or price reductions in order to stay competitive.He suggested that workers in critical financial need should be given the option to take out a lump sum from their pension entitlements, as will become possible for people at retirement in the new pension system.According to Baars, schemes for the hospitality and catering, and retail industries, for instance, could use their assets to save troubled firms in their respective sectors.The same goes for company pension funds with a sponsor in need of government support, such as KLM, he added.“Pension funds could assist companies with liquidity problems by offering bridging loans, whether or not government-backed,” he continued.“Investments in firms and funds in their own sector will also generate income from interest and dividend for industry-wide schemes.”Baars said that a pension fund’s helping hand can increase support among their participants, and also benefits schemes themselves, “as they depend on healthy companies and workers who can pay their premiums”.“In addition, it offers pension funds the chance to engage with their clients, improving their insight into the needs of participants and employers”.He said he expected politicians and society would demand a contribution from the pensions sector.“The Dutch government is borrowing dozens of billions of euros, which need to be paid back, which results in less assets invested in the local economy.”Baars predicted that the debate about increasing local investment will reignite, “including questions [on] why pension funds invest in a US IT firm, and not in crucial Dutch industries that have relocated to China, such as for the manufacturing of medicines”.To read the digital edition of IPE’s latest magazine click here.last_img read more

Diaspora group support Castle Bruce Football Club

first_img Sharing is caring! Tweet Share Share Sharecenter_img (L-R)Artherlie George, Hon. Johnson Drigo and Cuthbert JosephOver ninety young men from the Community of Castle Bruce are now passionate about the sport of football. Over the past few months young men from the village of Castle Bruce and surrounding communities have been actively engaged in the sport through the establishment of the East Central Football club.Atherlie George, an avid football player led the young footballers throughout a successful football season which ended in March this year. George spoke to the Media about the league’s achievements at a press conference on Friday April 27, 2012.“We commenced the football league in January where we had six teams from the entire constituency, four from the village of Castle Bruce and two from the outside villages. We ran the league until the 03rd of March where we had these teams participating in games every weekend. Two teams made it to the final, one from Bayside and the other from Good Hope. The Bayside team was the overall winner. We had over ninety young men participating in these activities”.George said the success of the league is largely attributed to the support from the community at large.Parliamentary Representative for the Castle Bruce Constituency Hon. Johnson Drigo is proud of the young men’s achievements in the football league thus far. He views the boy’s involvement in the sport of football as an ideal medium to engage them in positive activities.“I must say that the Castle Bruce community is on a drive to re-direct the energy of our young people and we believe very strongly that sports are the medium in which we can maximize keeping our young people occupied. During the period of the football league we have not seen the anti-social behavior which used to disturb our community. Most of the young men were very much occupied in the sport and there was that unity among them”.Meanwhile Cuthbert Joseph, a native of Castle Bruce and president of the Dominica Heritage Society of New England in the United States on Friday made a donation of a trophy and football boots to the East Central football club of Castle Bruce.The heritage society group made up of Dominicans living in the Diaspora, started three years ago with a mission to promote Dominica and facilitate development on the island.Joseph said he is happy to make such a donation to the Castle Bruce football club.“I said anything that is positive I want to be part of it. I am part of the Dominica Heritage Society of New England, and as a matter of fact when I spoke to the vice President of our group Mr. Vivian Rene about this football league he was more than willing to help and so he provided some trophies for the group. He also presented a few football boots. When I hear that members have to exchange the boots I realized that there is a need”.In addition to the donations to the football club, Joseph made a personal financial contribution of one thousand E.C dollars towards the Castle Constituency Development Fund. That fund was set up specifically to allow people in the Diaspora who wish to make a contribution to the community to make a contribution.The Parliamentary Representative thanked Joseph for his donation and expressed sincere appreciation to the numbers in the Diaspora who have supported the needs of the Castle Bruce Constituency since the staging of the Castle Bruce Reunion last year.By: Tarnia GreenGovernment Information Service LocalNews Diaspora group support Castle Bruce Football Club by: – April 27, 2012 27 Views   no discussionslast_img read more