first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Community Reinvestment Act Financial Institutions OCC 2015-01-26 Brian Honea Previous: Existing-Home Sales Expected to Inch Upward in January Next: DS News Webcast: Tuesday 1/27/2015 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 The Office of the Comptroller of the Currency (OCC) released its list of Community Reinvestment Act (CRA) performance evaluations that were made public during the month of December 2014 for 30 financial institutions.The 30 financial institutions that received ratings from the OCC that became public during December were national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The four possible ratings were outstanding, satisfactory, needs to improve, and substantial noncompliance, according to the OCC.Two of the 30 financial institutions that were rated received a rating of outstanding: Van Wert Federal Savings Bank, a small bank in Van Wert, Ohio; and Icon Bank of Texas, National Association, an intermediate small bank located in Houston, Texas. Twenty-eight of the financial institutions evaluated received a rating of satisfactory. None of the institutions received ratings of needs to improve or substantial non-compliance.A searchable list of all public CRA evaluations can be found on the OCC’s web site. The CRA was first enacted by Congress in 1977 and revised in both 1995 and 2005. The purpose of the CRA is to “encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods, consistent with safe and sound operations,” according to the U.S. Federal Reserve Board web site. Home / Daily Dose / OCC Releases Performance Evaluations for 30 Financial Institutions; Two Rated ‘Outstanding’  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Tagged with: Community Reinvestment Act Financial Institutions OCCcenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago January 26, 2015 837 Views in Daily Dose, Featured, Government, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago OCC Releases Performance Evaluations for 30 Financial Institutions; Two Rated ‘Outstanding’ Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days agolast_img read more

first_imgHMS Bulwark is ready to assume the mantle of the nation’s flagship after completing six months of gruelling training.The last phase of that training, following a £30m refit, was played out on the shores of Hampshire with an invasion of Browndown Camp near Gosport.Seen through a night-vision camera lens, a large landing craft leaves HMS Bulwark to carry out a beach landing near Gosport in the dead of night.The assault ship is ready to assume the mantle of the nation’s flagship after completing more than two months of exacting training – the last hurdle in six months of trials, tribulations and tests following a £30m refit.That last hurdle was Operational Sea Training – delivered by the world-renowned Flag Officer Sea Training organisation from Devonport.Given the unique nature of an amphibious ship with its ability to deliver troops and kit from the sea directly to the shore, in addition to all the usual OST tests such as fire, flood, air, sea and submarine attack, and disaster relief, the FOST instructors also assess Bulwark’s sailors and marines on their adeptness at choreographing all the machinery of war from the ship to a beach, before moving inland.So the last fortnight of the three-phase training period saw assaults staged by air (courtesy of the Jungly Sea Kings of the Commando Helicopter Force) and sea (courtesy of Bulwark’s inherent Royal Marines unit and their landing craft, 4 Assault Squadron) as the ship, bolstered by trainee Royal Marines from the Commando Training Centre at Lympstone, dealt a blow to the dastardly ‘Ginger’ forces at Browndown Camp in Stokes Bay on the Solent.In doing so they knocked out key targets – a Challenger 2 main battle tank (the largest piece of armour a landing craft can carry) and Royal Marines in Viking armoured vehicles will ruin your day if you’re a bad guy – and helped with the evacuation of civilians eager to escape the war zone.All of which is pretty challenging to direct, however well equipped the 18,000-tonne assault ship is. Throw some very “particularly inconsiderate weather conditions” into the mix, and you’re testing the 350+ souls aboard Bulwark (plus the FOST staff) to the limit.The FOSTies are tough taskmasters, but were evidently suitably impressed by Bulwark because she passed her ordeal, much to the delight of her Commanding Officer Capt Alex Burton.The FOST seal of approval means (a) Bulwark can deploy, if required, and (b) will be relieving her sister HMS Albion as the flagship next month.“I’m immensely proud of what we’ve achieved since starting our training, and how hard the ship’s company have worked throughout,” said Capt Burton.“We still have plenty of challenges ahead as we prepare to take on the responsibility of the Royal Navy’s flagship – but we are ready to deliver whatever may be required in the future.”That immediate future includes being the largest (and warriest) attraction at Southampton Boat Show between September 22 and 25.From there the ship sails to Brest in Brittany to pick up around 100 French Marines before heading north to the Clyde to take part in the second of this year’s Joint Warrior exercises, a combined air-sea-land war game run from Faslane.[mappress]Source: royalnavy, September 16, 2011; View post tag: A/S View post tag: Warship Back to overview,Home naval-today Amphibious Assault Warship ‘Ready to Deliver’ as Britain’s Flagship View post tag: Flagship View post tag: Ready Industry news View post tag: Assault View post tag: Britain’s View post tag: Amphibious September 16, 2011 View post tag: deliver View post tag: to Amphibious Assault Warship ‘Ready to Deliver’ as Britain’s Flagship Share this articlelast_img read more

first_imgLawyers who repeatedly take cases they are not qualified to handle and who repeatedly fail to pursue cases they take on will be disbarred, the Florida Supreme Court has said in a disciplinary case.In an April 29 opinion (Case No. SC02-1687), the court ordered the disbarment of an attorney who took on several cases and then did little or nothing to pursue the matters. The attorney also engaged in several acts to cover up his failures, including in one case preparing 24 false property titles.The case also provoked a strongly worded concurring opinion from Justice Fred Lewis, in which Justice Kenneth Bell concurred.Lewis wrote that the attorney deserved disbarment alone for taking cases he was apparently not qualified to handle. But that was compounded by the lawyer’s failure to diligently pursue the cases and keep his clients informed, which in turn was compounded further by his lying to the clients about the status and outcome of cases and attempts to cover up his inactivity, which included preparing the fake titles.He quoted the referee’s findings: “Respondent harmed his clients by incompetent action, he expressly lied about it to his clients, and thereafter he continued to affirmatively lie and attempt to cover up the lies. Significant consideration must be given to the fact of multiple incidents of such conduct by the respondent, involving several clients. There is no way to interpret the respondent’s deliberate actions in a light favorable enough to him to accept his suggestion that he meant no harm. He is not a competent lawyer. More egregious, however, is the defect he refers to as one of personality. It is more; it is a defect, if not an absolute absence of honesty, integrity, and ethical judgment.. . . The Bar has an obligation to protect the public and to maintain reasonable standards of professional and ethical responsibility. [The respondent] has not and cannot meet those standards, and thus is not qualified to practice law and represent members of the public.”According to the opinion, the attorney was hired to handle a property case in Georgia but never filed to appear pro hac vice or a notice of appearance, and did not appear at the trial. After the resulting adverse ruling, the attorney prepared but never filed a motion to set aside judgment, and lied to the client about the status. The actions cost the client about $29,000 in the lost value of the property.A condominium association hired the lawyer to handle foreclosures on timeshare units where taxes or assessments were outstanding. Five years later, when asked about 24 cases that had not been finalized, the attorney gave the association falsified certificates of title, even though the foreclosures were not final. Some units were sold based on those titles, which resulted in multiple owners claiming the same unit, which created additional legal expenses for the association.In another case where the association brought suit against an owner, the attorney failed to comply with discovery requirements after the unit owner countersued, which resulted in an $18,000 judgment against the association. The attorney paid that from his own funds, but didn’t tell the association about the settlement until after the fact.At one point, the attorney signed a letter acknowledging his failure to act on cases for a client and promised to do better in the future. But he then failed to pursue two other cases he was hired to handle, and was ultimately fired by the client.The lawyer had sought a one-year suspension, but the court noted under the Florida Standards for Imposing Lawyer Sanctions 4.41 (failure to perform or neglect), 4.51 (lack of understanding of fundamental legal doctrines or procedures), and 4.41 (engaging in intentional conduct involving dishonesty, fraud, deceit, or misrepresentation that adversely affects the lawyer’s fitness to practice), disbarment was appropriate. “In light of the multiple instances of misconduct involved and the nature of the misconduct in this case, we approve the referee’s recommendation. . . , ” the opinion said.In his concurring opinion, Justice Lewis added: “[T]his court must not hesitate to affirm the powerful message of the referee — that misconduct as egregious as that demonstrated in the instant matter will result in disbarment.” June 1, 2004 Regular News Don’t take cases you are unqualified to handlecenter_img Don’t take cases you are unqualified to handlelast_img read more

first_img“High yield’s emergence as a competitor to bank finance as a primary source of capital, the growth of alternative capital providers and new structures for the legacy loan market all contribute to increasing choice for borrowers,” the report said.European leveraged loan allocations reached €116bn in 2014, an increase from around €80bn, and high-yield from from around €83bn to €97bn as US issuance also grew, albeit at a slower pace.The report described recent changes in the European leveraged debt market as a “huge upheaval”, with new legal precedents in covenants and incurrence-based covenants.White & Case said the European market would continue its growth, as 2014’s low-yield environment continued with companies refinancing bonds in call periods at much lower coupons.David Becker, a partner, said: “It is coming of age now as its investor pool has become increasingly sophisticated, providing funding across the loan and bond spectrum.”More M&A activity across the world also helped fuel the leveraged loans market while high-yield issuance in the second quarter of 2014 was 90% higher than a year earlier, with a 116 deals from a year total of 269.In the first half of the year, values and volumes were higher in most Western European countries, the report said, with the UK & Ireland leading high-yield issuance and France leveraged loans.The second quarter was the busiest period in both asset classes as investors clamoured into high-yielding fixed income.However, the retreat of banks, often cited as a growth factor in the markets, also began to cause concern among investors as Q3 began.European pension funds were among those moving into sub-investment grade corporate debt as investment managers became concerned over liquidity in the market and pricing bubbles forming in the first half of the year.At the start of Q3, Mike Karpik, chief executive at State Street Global Advisers, described the high-yield market of showing “pockets of euphoria” with liquidity in the market a major concern.UBS Global Asset Management also began to change the structure of its tacitical asset allocation strategy with liquidity a key concern.These concerns were demonstrated in market volumes with Q2 saw peak issuance for both high-yield and leveraged loans in Europe, a factor not seen in the US, or in previous years within the continent.Issuance fell for the remainder of the year but still supported the record-level market.For more on the high-yield bonds, read IPE’s previous coverage of the market Issuance of high-yield and leveraged loans reached record levels in 2014, backed by change in the way deals are structured for investors.A report, ‘The changing face of international leveraged debt’, by law firm White & Case said these record levels came as market makers experienced strong demand, aided by a convergence in deal structure between the US and Europe.The law firm said European corporates had adopted “US-style” terms, making deals less restrictive and more borrower-friendly.“European corporates and sponsors now have a broader range of financial products available to them than ever before.last_img read more

first_img Published on September 12, 2018 at 11:11 pm Contact KJ: [email protected] | @KJEdelman Syracuse faced a great deal of problems on its four-game road trip — an inconsistency at the goalkeeper position, not being able to muster enough clean shots and giving up goals behind a unprotected backline to save the opposing attack. But one issue that arose on its 1-3 road trip was out of SU’s control: The Orange’s transition from natural grass to turf.When Syracuse (3-4) plays at SU Soccer Stadium, it plays on a 120- by 75-meter natural grass field. In its last four games, SU has played on varying turf fields, converting only two of its 40 shots. In its three losses, including two 4-0 losses to No. 11 Penn State and then-winless Harvard, SU was outscored 11-1.While some players prefer turf over their home stadium’s natural grass, the Orange’s transition to the new fields caused its offense to speed up and make more errors over the last two weeks. With ACC road play beginning Sept. 20 at Boston College, a turf field, SU needs to improve on its recent turf play to get back to .500.“You have to be more precise on turf,” head coach Phil Wheddon said, “And, honestly, that’s what got us down in our last game. We weren’t precise enough.”Before the Aug. 30 matchup against Harvard, SU transitioned from practicing on Hookway Fields’ natural grass to Wohl Lacrosse Field and Skytop, both turf fields.AdvertisementThis is placeholder textTurf creates a faster game — the ball moves quicker, the bounce can be a little different and a player’s touch has to be spot on to avoid turnovers, Wheddon said. It creates a shorter surface for players to compete on. The pitch features well-cut turf instead of varying lengths of grass, which all players would prefer in good weather, forward Kate Hostage said.“Turf is a lot harder and grass has a lot more to give,” Laurel Ness said. “I like playing through balls and balls in the air off corners, and the grass has so much more give to it. It’s a lot better.”But problems start to arise when the weather changes. When turf gets wet, it creates a different reaction than natural grass fields.“The ball will skip quite a lot when it’s wet. It’ll be unreliable,” Hostage said, “It could hit a patch of mud and stop.”Despite a familiarity with a natural grass home field, most SU players prefer turf because of its pace. Every field turf is different though, and the adjustment gives the home team an early advantage, Wheddon said.While SU didn’t allow a goal in the first 15 minutes of play on its four game road stretch, it didn’t do much offensively. Between Aug. 30 and Sept. 9, SU registered three shots and eight fouls in its first 15 minutes of play.“It’s more the first 15 minutes of touches that you have to adjust than the long-term situation and having it impact you that much,” Sydney Brackett said.When players adjust to practicing on turf the days before a game, Wheddon said he has to be strategic in practice drills and how long practice is. The wear and tear from playing on multiple surfaces can make a player sore before game day. But he said the only way the Orange will improve its play on turf is with increased repetitions.With ACC play approaching, the Orange will need to get off to faster starts to gain the early advantage.“We have to make sure our players are ready to play on a new surface,” Wheddon said, “… the technical things let us down and we’re usually a very technical team.” Facebook Twitter Google+center_img Commentslast_img read more