first_imgHome / Daily Dose / The Week Ahead: CFPB Updates Congress On Tuesday, March 10, the Senate Committee on Banking, Housing, and Urban Affairs will hold a hearing to examine the Consumer Financial Protection Bureau’s (CFPB) semi-annual report to Congress. The U.S. Supreme Court heard opening arguments Tuesday in Seila Law v. the Consumer Financial Protection Bureau—a case that could decide the constitutionality of the Bureau.The CFPB was designed to rein in abusive practices in consumer credit marks, such as home mortgages and credit cards. CNBC states it returned $12 billion to consumers between 2011 and 2017 but stopped pursuing enforcement actions under President Donald Trump.The CFPB has been the subject of several lawsuits, most recently by the California-based Seila Law. Seila Law alleges the CFPB’s insulation from presidential control is unconstitutional. The law firm challenged the agency after the CFPB targeted the firm 2017, CNBC states.Kannon K. Shanmugan, attorney for Siela Law, who argues the CFPB was constructed against the U.S. constitution, had a clear message for the Supreme Court.“The structure of the CFPB is unprecedented and unconstitutional,” Shanmugan said. “Never before in American history has Congress given so much executive power to a single individual who does not answer to the President.”He added that by limiting the President’s ability to remove the CFPB’s director, Congress violated the “core presidential prerogatives” to exercise the executive power that laws are faithfully executed.Shanmugan continued his opening remarks by saying the Solicitor General contends that the Supreme Court should rewrite the Dodd-Frank Act, giving the president the power to remove the CFPB’s director.“But the constitutional question, in this case, arises in the context of a defense to an enforcement proceeding and not a facial challenge,” he said.Here’s what else is happening in The Week Ahead:Financial accounts of the U.S. (March 12) in Daily Dose, Featured, Market Studies, News Subscribe The Week Ahead: CFPB Updates Congress Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles  Print This Post Previous: Seven Major Mortgage Servicing Tech Trends Next: CFPB Proposes Whistleblower Award Program Share Save March 8, 2020 1,090 Views Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 2020-03-08 Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago About Author: Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days agolast_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_imgAs expected, Bolt, the 100m and 200m world record holder, showed phenomenal pace over the turf.He was proud of the header he scored in a practice game, but admits having much to learn.“I’m tall, so it’s one of the things I have practised over the years,” he said of his header with sweat pouring down his face.“I was working hard out there, I wanted to play my best, move and give the guys options.”Share on: WhatsApp Pages: 1 2 Nearly 200 journalists and around 1,500 fans saw the eight-time Olympic gold medallist put through his paces with the first-team squad at Dortmund’s training ground.Having already trained with the team behind closed doors on Thursday, Friday’s open session could be seen as a publicity stunt as both Bolt and Dortmund are sponsored by Puma.The Bundesliga club live-streamed the training session and in China alone 1.2 million viewers tuned in.The 31-year-old Bolt insists he is deadly serious about starting a new career – at an age when most footballers are hanging up their boots.– ‘Unfit’ –Bolt, who retired from athletics last year, admits he lacks the endurance fitness football demands. Dortmund, Germany | AFP | Athletics legend Usain Bolt insists he is serious about realising his dream of becoming a top-class footballer after training with Borussia Dortmund.“I really want to try and make it professionally, to play at a high level,” the sprint superstar told reporters on Friday at the German league club.“My goal is to make a top team and play in one of the top leagues in the world.”center_img “Overall, I’d give myself a seven out of ten,” he said.“It was fun, the guys were cool and they were welcoming, but I can tell I was unfit.“I like to play on the wing, right now I am unfit so I try to stay up top (as a striker).“I’ve heard a lot about the fans here – that really was an experience.”last_img read more

first_imgImage Courtesy: PA/GettyAdvertisement l4kNBA Finals | Brooklyn Vs2juWingsuit rodeo📽Sindre Ebro( IG: @_aubreyfisher @imraino ) cfnlWould you ever consider trying this?😱ntmCan your students do this? 🌚9r30mRoller skating! Powered by Firework The COVID-19 Coronavirus pandemic has made some major impact on several football events across the world, causing major changes and postponement on top tier leagues and events in the coming months. However, arguably the biggest ht the beautiful game has received from the virus outbreak is the suspension of UEFA Euro 2020, premier European international football tournament that is now shifted to 2021.Advertisement Image Courtesy: PA/GettyThis is the first time in the history of the competition that has seen its usual quadrennial schedule get disrupted. Now termed ‘Euro 2021’, the competition will now be held from 11th June to 11th July next year.Following the postponement of Champions League and Europa League matches, this is UEFA’s latest big sweep amidst the Coronavirus panic that has spread across the globe this month.Advertisement While there were talks of the competition to go ahead this year as planned, but with necessary precautions and even possibly a behind closed doors tournament, the recently overlapping threat from the virus outbreak had left the authorising bodies with no choice.The bombshell came after Euro’s governing body UEFA themselves conducted a video conference with 55 of its member associations, and the news was first officially confirmed by the Norwegian Football Association via Twitter.Advertisement “UEFA has decided that the European Championship is postponed to 2021. It will be played from 11 June to 11 July next year. More information coming,” the tweet read.Sources from Reuters have stated that the decision to postpone the Euro to next year was already confirmed by Karl-Erik Nilsson, President of the Swedish Football Association. “Postponed until 11/6 – 11/7 2021. Will get back to you after the meeting,” Nilsson spoke to Reuters during the video conference.However, there has been no major updates on any suspension about the ongoing European Qualifiers to be held on 26th and 27th March.The Euro 2021, now shifted away from their usual 4 year period, will be held across 12 Major European cities- Amsterdam, Baku, Bilbao, Bucharest, Budapest, Copenhagen, Dublin, Glasgow, London, Munich, Rome and St Petersburg.The inaugural match on 11th June 2021 will be held at the Stadio Olimpico in Rome as Italy will take on Turkey.Also read-Despite Coronavirus, here are the sports leagues still going on! Advertisementlast_img read more