Email Address* Fed Board Governor Lael Brainard (Getty, iStock)The Federal Reserve has proposed modernizing and strengthening a 43-year-old law aimed at encouraging banks to provide loans in low- and moderate-income communities, where homeowners had been subject to the practice of redlining.Part of the Fed’s proposal to overhaul the Community Reinvestment Act includes creating a four-part test for analyzing bank loans made to those neighborhoods. The plan calls on banks to provide more loans to individuals in low- and moderate-income communities, rather than one-time large investments to these areas.With its proposal, the Fed is pitting itself against another major banking regulator, the Office of the Comptroller of the Currency.The OCC released its own overhaul of the Community Reinvestment Act in May, which encourages banks to provide larger investments to projects and developments in distressed areas.ADVERTISEMENT“We must ensure that CRA continues to be a strong and effective tool to address systemic inequities in access to credit and financial services for [low- to moderate-income] and minority individuals and communities,” said Fed board governor Lael Brainard in a statement on Monday announcing the proposed rule changes. The Fed has opened up a 120-day public comment period.In neighborhoods where redlining was practiced, lenders would draw a “red line” around neighborhoods that, based on demographics, were deemed too risky for federal mortgage loans. Instead of the cheap federal financing available to white families, black homeowners had to seek more expensive loans.Though the practice was formally outlawed in 1968, its effects are still felt today, where a recent study by Redfin found that homeowners in historically redlined neighborhoods gained less than half as much home equity.The Fed’s proposed reform comes at a time of heightened awareness around systemic racism and inequality.Bankers have become increasingly frustrated with the Community Reinvestment Act — which passed in 1977 — arguing the rules should account for an uptick in online banking, and fewer brick-and-mortar bank branches. A poor CRA rating can prevent a bank from opening new branches or completing a merger.Meanwhile, the Federal Deposit Insurance Corporation has not released its own proposed rule changes yet. The agency said it does not support the final proposal by the OCC — made in May — arguing it could not finalize the rules during a pandemic.Different plans could mean banks would have to abide by competing rules. Banks under the OCC’s supervision will have to comply with its new rules by Jan. 1, 2023; smaller banks would have another year to comply.Contact Keith Larsen Full Name* Message* This content is for subscribers only.Subscribe Now
Rain delayed the start of Sunday’s Monster Energy NASCAR Cup Series Foxwoods Resort Casino 301 at New Hampshire Motor Speedway. Originally scheduled for 2 p.m. ET (NBCSN, PRN, Sirius XM NASCAR Radio), the start was moved up to 1 p.m. Sunday, but rain scrubbed the new start time, as well.Driver introductions were rescheduled for 3:50 p.m. ET, and the new green flag was set for 4:15 p.m. ETRace officials had a solid contingent of track-drying equipment at the 1.058-mile facility: eight units of the Toyota Tundra track-drying team, six jet dryers and an Elgin sweeper.RELATED: Full starting lineup | See every car | Weather informationKurt Busch is on the pole for the 20th race of the 2018 season in the No. 41 Stewart-Haas Racing Ford, and Martin Truex Jr. will share the front row with him in the No. 78 Furniture Row Racing Toyota. Series points leader Kyle Busch will start third. Truex and Denny Hamlin posted the fastest speeds in Saturday’s practice sessions. Hamlin is the defending race winner and will start fourth in Sunday’s race.
The Law Society has secured a two-week stay of execution for sole practitioners in a ‘first round’ of negotiations over the decision to axe 3,600 practitioners from the conveyancing panel of the newly merged Britannia and Co-operative Financial Services (CFS). Sole practitioners will remain on the new CFS panel until 4 October following discussions between Chancery Lane and CFS. They were given one month’s notice of their removal from the panel in August. The CFS said it had been forced into the move following the merger because otherwise its insurers would have withdrawn cover for the entire business. Law Society chief executive Des Hudson said that following ‘useful talks’ with CFS a further meeting had been agreed ‘to explore the drivers of the Britannia/Co-op decision’. He said the Society was eager for the discussions to continue at a ‘rapid pace’. CFS director of risk Mike Fairbairn said the meeting had been ‘constructive’, but said it had a ‘clear duty’ to obtain the best cover at the best price. Meanwhile, Chelsea Building Society has said it is prepared to take direct action against individual solicitors and firms, and to target the Solicitors Compensation Fund to recoup money it may have lost due to solicitors’ alleged participation in a swathe of mortgage frauds. Chelsea recently said that it suffered £41m worth of mortgage fraud perpetrated between 2006 and 2008, concerning ‘the artificial inflation of property values by third-party professionals’ involved in buy-to-let mortgage transactions. A Chelsea spokesman said its solicitor panel contains a ‘fair spread’ of sole practitioners and other multi-partner firms, as it did at the time of the frauds, and it is not planning any ‘knee jerk’ panel cuts. In a further development, a letter from Bristol & West Mortgages seen by the Gazette has confirmed that it no longer appoints sole practitioners. The bank said the decision was the result of an increase in the number of mortgage fraud cases encountered by them where sole practitioners had allegedly been directly or indirectly involved. The letter mentions the ‘significantly inferior cover offered by the relevant governing bodies for sole practitioners’ as a reason for the decision. Bristol & West said the data to support the comments, was ‘private’. Neither Chelsea nor Bristol & West disclosed which solicitors or firms they believe may have participated in the frauds and whether or not they believe panel firms were involved. In a separate statement issued on Wednesday, CFS’s Fairbairn,said: ‘CFS wants to make it absolutely clear that our decision was a direct consequence of our insurers refusing to offer cover on our entire £20 billion mortgage business, unless we removed sole practitioners from our panel. We have a clear duty to our members and customers to ensure best cover at the best price; we can’t simply choose cover at any cost. We also reject strongly any claims that our actions are in anyway discriminatory on sole practitioners, for this same reason. ‘We have committed to maintaining dialogue with the respective law societies [of England and Wales, Scotland and Northern Ireland] but we need to achieve a position where we have appropriate indemnity protection across our entire mortgage book, without any adverse commercial impact or material change to the terms and conditions offered.’
The new office in Murmansk, at the Kola Gulf of the Barents Sea, will be in a good position, not only to serve oil and gas-related industries in general, but also for the coming launch of the Shtokman gas condensate field exploration project. K+N will be able to leverage its heavy lift skills to offer operations into and out of the region.Specialist areas of the industry served by K+N include petrochemical and chemical production facilities; LNG plants and re-gasification facilities; refineries and gas processing plants; shipbuilding and offshore platforms; and pipelines.”The Shtokman project will help to develop Murmansk and its region, with its ice-free port, into one of the leading Russian gateways and a key location for major local and international suppliers of goods and services,” says Perry Neumann, Kuehne + Nagel Russia managing director.The new representation in Nogliki is located on Sakhalin island, where K+N already has an operating office. The company started its activities on Sakhalin early in 2002 with the opening of oil and gas exploration and the award of the Sakhalin 2 (SEIC) contract, which is still running today.K + N has been active in the Russian Federation since 1992, today operating five offices and six warehouses and employing more than 500 employees.
90% of the players on the Danube will leave the team after the uncertainties continue. As it is known, the “dragons” dropped out of the elite after the lost barrage from Montana with 1: 4. Julian Nenov, Mihail Milchev, Ivaylo Lazarov and Stefan Hristov, Blagoy Makenjiev, Grigor Dolapchiev and others are leaving.Vesko Velikov took advantage of the crisis in the DanubeAttracts Mikhail Milchev to KarianaIt was expected yesterday that the new owners would be announced, as well as the new head coach Engibar Engibarov, but this did not happen and the football community in Ruse seems to be about to be deceived again. The players are disbanded until July 27 (Monday), but most of them will have left or found new teams by then, Tema Sport writes.A statement appeared on the Facebook group Dunav Fans that the new owners came last night to the base of the Danube Stadium, and today they will give a press conference. Krassen Krastev was named as a representative of the management, who even stated that next season Danube will return to the elite.The new owners of Dunav (Ruse) stand before the fans today“The deal to acquire the team from the new owners is already a fact”
21 Angel Gomes wants more first-team opportunities 21 Lookman has been restricted to a substitute’s role under Marco Silva, starting just three Premier League games.He thrived in a loan spell with RB Leipzig, scoring five goals and registering five assists last season. And other clubs could back the 21-year-old to replicate that form with them.Leicester – Matty James Chelsea midfielder Ruben Loftus-Cheek was loaned to Crystal Palace last season in a move that worked wonders for him as he earned a place in Gareth Southgate’s 2018 World Cup squad.And in the 2018/19 season, Liverpool attacker Harry Wilson starred for Derby and is likely to start in their Championship play-off final against Aston Villa on Monday.Other players could follow the examples set by Loftus-Cheek and Wilson next term.Here, talkSPORT take a look at players who could benefit from a loan move. With Euro 2020 happening next summer, Gibbs-White will want to play regularly to attempt to break into Gareth Southgate’s England squad.The Three Lions boss is renowned for giving youngsters a chance on the international stage – and Gibbs-White could be the country’s next breakout star. Joselu started just five Premier League games in the 2018/19 season due to the form of Salomon Rondon.Newcastle boss Rafa Benitez, whose own future is also uncertain, could get the striker’s wages off the books to free up funds for another forward.A move back to Spain or Germany could suit Joselu.Norwich – James Husband deals huge blow Oxlade-Chamberlain suffers another setback as Klopp confirms serious injury no dice Getty Getty James has been tormented by an ankle injury for over a year. His only appearance during the 2018/19 season came in a shock 2-1 defeat to Newport County in the FA Cup in January.He has returned to fitness in recent weeks, but is yet to feature under Brendan Rodgers. A fresh start elsewhere could reignite his career.Liverpool – Rhian Brewster 21 With Fernando Llorente likely to leave this summer, Tottenham boss Mauricio Pochettino is bound to be in the market for a striker to provide cover for Harry Kane.Janssen was frozen out by Pochettino before making three substitute appearances towards the end of the season. Despite his brief comeback, the Dutch striker will need to look elsewhere if he wants to play regular football.Watford – Nathaniel Chalobah gameday cracker Fraser Forster made his first appearance of the season for Southampton in a 3-0 defeat at West Ham earlier this month It could be a breakthrough season for certain players in the 2019/20 campaign.Youngsters will want to gain first-team experience at other clubs, while older players could make temporary moves elsewhere to play regular football. 21 21 Getty 21 Arsenal transfer news LIVE: Ndidi bid, targets named, Ozil is ‘skiving little git’ Getty Getty LATEST 21 Matty James has been very unlucky with injuries Premier League Team of the Season so far, including Liverpool and Leicester stars Eddie Nketiah is yet to taste regular first-team football Getty 21 Getty Grady Diangana has been restricted to substitute appearances Green reveals how he confronted Sarri after Chelsea’s 6-0 defeat at Man City Christian Walton has shone for Wigan 21 West Ham boss Manuel Pellegrini showed faith in Diangana during the 2018/19 campaign, handing him six Premier League starts in a breakthrough season. But he could face more difficulty competing against Mark Noble, Declan Rice, a fit-again Jack Wilshere and any other new potential arrivals in midfield.He would not be short of suitors from Championship clubs.Wolves – Morgan Gibbs-White Getty REAL DEAL 21 Mark Travers kept a clean sheet on his Premier League debut against Tottenham Morgan Gibbs-White can operate as a midfielder or further up the pitch With Manchester City boss Pep Guardiola reportedly set to be given a £200million war chest to strengthen his domestic treble-winning squad, Foden could find himself even further down the pecking order.Even though he started games against Tottenham and Leicester in the title run-in, the 18-year-old failed to make the matchday squad for City’s FA Cup final win over Watford on Saturday.He has bags of potential, which another club could hugely use.Manchester United – Angel Gomes There is an abundance of quality in Manchester City’s midfield 21 21 21 Getty Images 21 Son ban confirmed as Tottenham fail with appeal to overturn red card 21 Connor Wickham has struggled for first-team minutes this season Nathaniel Chalobah needs a run of games Travers started Bournemouth’s final two Premier League games of the season after Eddie Howe lost faith with error-prone goalkeepers Asmir Begovic and Artur Boruc.With the Cherries reportedly set to make a £15million bid for Burnley’s Nick Pope, Travers could be loaned out to gain experience in England’s lower tiers.Brighton – Christian Walton Husband spent the 2018/19 season on loan with Fleetwood in League One and is unlikely to take part in the club’s Premier League journey. With a year left on his current, he could be loaned out again.Sheffield United – Leon Clarke Getty Forster has made just one Southampton appearance since December 2017. He is the club’s third-choice goalkeeper behind Alex McCarthy and Angus Gunn.The 31-year-old’s contract does not run out for another three years, but he needs to get back to playing regularly.Tottenham – Vincent Janssen Getty 21 Green started just nine Championship games as Aston Villa ended their three-year exile from the Premier League by beating Derby in the play-off final.The 20-year-old is yet to play first-team football on a regular basis in a whole season, but the 2019/20 campaign could be his year if he is loaned out.Bournemouth – Mark Travers Rhian Brewster is yet to make a senior appearance for Liverpool Walton helped Wigan preserve their Championship status in their 2018/19 campaign, playing in 34 league games.Mat Ryan has established himself as Brighton’s No.1 goalkeeper, and Walton will not want to return to the Amex Stadium to sit on the bench. A third loan move to the Latics seems sensible.Burnley – Ben Gibson Boxing Day fixtures: All nine Premier League games live on talkSPORT Getty Ethan Ampadu needs to play more regularly Getty LATEST FOOTBALL NEWS tense Chalobah fractured his knee cap at the start of the 2017/18 season and made a return to action against Reading last August. However, he has been restricted to just 13 appearances since, failing to dislodge Etienne Capoue and Abdoulaye Doucoure in midfield.A newly-promoted Premier League club could take a punt on him.West Ham – Grady Diangana Getty Gomes made just two brief cameo appearances in United’s underwhelming season. He is said to be frustrated by his lack of game-time and could look elsewhere for temporary solutions.The 18-year-old is one of United’s star academy players. With a host of attacking players ahead of him, it doesn’t look like Gomes’ playing time is going to improve next season at Old Trafford.Newcastle – Joselu Getty Andre Green’s playing time was restricted in Aston Villa’s promotion-winning season Ademola Lookman has not started enough games under Marco Silva shining Joselu is not a regular starter at Newcastle REVEALED 21 21 Gibson was one of the most sought-after defenders in the Championship last summer.Burnley won the race for his signature by paying Middlesbrough a whopping £15million. That amount seems like a huge waste of money as the 26-year-old made just ONE Premier League appearance all season.His last outing for the club came in a 5-0 defeat to Manchester City in the FA Cup in January.Chelsea – Ethan Ampadu Getty Getty Real Madrid ‘offer’ Isco to Chelsea in bid to ‘make room’ for Tottenham star Leon Clarke will be a wanted man in the Championship With Sheffield United reportedly trying to sign Swansea striker Oli McBurnie, Clarke’s days appear to be numbered at Bramall Lane.He was loaned out to Wigan for the second half of the 2018/19 campaign and helped them avoid relegation. Second tier clubs could find his experience invaluable next season.Southampton – Fraser Forster Getty Berahino hits back at b******t Johnson criticism – ‘I was in a dark place at Stoke’ Who Chelsea loan out will depend on the club’s impending transfer ban and Ampadu is a player who could benefit from a temporary move from Stamford Bridge.The Wales international is highly-rated by Blues chiefs, but started just three games in the 2018/19 season. At 18-years-old he is already a Wales international with a big future ahead of him.Crystal Palace – Connor Wickham Getty Arsenal – Eddie Nketiah Where Ancelotti ranks with every Premier League boss for trophies won Getty 21 James Husband has not played for Norwich in 13 months REPLY Vincent Janssen is unlikely to be at Tottenham next season Ben Gibson has struggled in his debut season at Burnley Brewster was an unused substitute for Liverpool’s 4-0 Champions League semi-final second leg win over Barcelona after injuries had ruled out Mohamed Salah and Roberto Firmino.The 19-year-old, who has battled through ankle and knee problems over the past year, is highly-rated by Liverpool boss Jurgen Klopp.Reports claim the German sanctioned a Dominic Solanke’s £19million move to Bournemouth due to his belief in Brewster but he could be shipped out on loan before making his senior Reds debut.Manchester City – Phil Foden 21 Man United transfer news live: Haaland ‘wants a change’, two players off in January Eddie Nketiah scored his first Premier League goal on the final day of the 2018/19 season Wickham has been plagued by injury since moving to Palace in 2015 and after making his return from a serious knee injury against Everton last October, he went on to make just seven more appearances.The 26-year-old signed a new two-year deal with the Eagles on Tuesday, but that might not rule him out of making a loan exit this summer.Everton – Ademola Lookman 21 Getty Nketiah burst on to the scene after scoring twice in a Carabao Cup win over Norwich last season. But after making just nine appearances, and only starting three times, the 19-year-old needs to play regular first-team football.He is unlikely to begrudge Pierre-Emerick Aubameyang and Alexandre Lacazette from the starting XI, so a loan move could do him the world of good.Aston Villa – Andre Green
5 February 2015The University of Cape Town has signed a memorandum of understanding with the Swiss Federal Institute of Technology, a leading European university focused on innovation and the natural sciences.The agreement will strengthen a collaboration that will facilitate a two-way exchange of high-level ideas on issues crucial to both continents, including urbanisation, infectious diseases, material science and data-intensive research.African voiceVice-Chancellor Dr Max Price signed the MOU with ETH Zurich in January, en route to the Global University Leaders Forum at Davos. He was the only African university head to be invited.Both platforms have enabled Price to ensure that there is an African voice in global debates around issues such as health and urbanisation, and that international leaders inform research (and teaching) on the continent.Future citiesThere are already useful collaborations in place between the two universities. For instance, in the study of urbanisation, ETH Zurich’s Future Cities Laboratory has a similar interdisciplinary approach to UCT’s African Centre for Cities.Both centres bring together environmental challenges, such as landscape resource consumption, with social development, such as inclusion and housing.Technical engineering is the core of the Future Cities expertise, which would add great value to the work of the ACC, says Professor Danie Visser, the deputy vice-chancellor responsible for research.A hub of major networks in Africa, the ACC is the continent’s leading university-based urban research centre and has become a sought-after research partner.ETH Zurich is where Albert Einstein received his diploma in 1901.Source: UCT
Why Tech Companies Need Simpler Terms of Servic… Top Reasons to Go With Managed WordPress Hosting Related Posts Just as SOPA opponents in the United States prepare for round two in their battle against far-reaching anti-piracy legislation, it appears that their Spanish counterparts just lost theirs. On Friday, the Spanish government approved the Sustainable Economy Law, (SEL) which enables rights holders to have infringing websites shut down within 10 days after a complaint is filed. Once a complaint is made, a judge can order ISPs to block access to sites that host copyrighted material or have them shut down entirely. The law, which was officially passed early last year but never implemented, was approved by Spain’s new, more conservative government last week and will now be enacted as planned, much to the delight of the film and music industries, as well as other media companies. If the law sounds like a more extreme version of SOPA, it probably has something to do with the fact that Spain has a much bigger piracy problem than the United States. Illegal file-sharing runs rampant in the country and it seems like every media industry trade group has a different set of statistics demonstrating how harmful this has been to them. Under the new law, copyright complaints will be heard by a panel called the Intellectual Property Committee who will decide how to rectify the issue and are endowed with the power to go after site owners. In the U.S., the anti-piracy legislation currently being debating in Congress would be limited to websites hosted outside the country’s borders and wouldn’t be quite as far-reaching as Spain’s new law. Still, to many the passage of SOPA’s Spanish counterpart feels like a taste of things to come should big media companies in the U.S. succeed in getting some version of SOPA or the Protect IP Act passed by the U.S. Congress. Paving the Way For U.S. InvestmentsPressure from Spanish copyright holders and media companies wasn’t the only factor in ensuring this law was passed. The country stands to see major investments in online streaming services there now that the law is enacted. U.S. media and technology companies, among others, have been waiting to make such investments until more serious steps were taken against file-sharing and online piracy in Spain. The passage of this law is exactly what they were waiting for. The country is already awaiting the launch of Nextflix within its borders early this year, and presumably more services will follow. The law may lead to more legitimate online streaming services and delight the media industry, but that doesn’t assuage the concerns of digital rights groups, who take issue with SEL along lines similar to those of opponents to SOPA and PIPA in the United States. In short, they argue that granting media companies and judges the ability to shut down websites sets a very bad precedent and could easily be used to censor legitimate sites. john paul titlow 8 Best WordPress Hosting Solutions on the Market A Web Developer’s New Best Friend is the AI Wai… Tags:#Government#international#news#web