Let the regulatory Kabuki Dance begin!

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr by. Henry MeierThe annual Kabuki Dance between regulators and the regulated, during which credit unions complained that they are being smothered to death by tone-deaf examiners and examiners complained that they are being vilified by credit unions for doing their job, kicked off on Friday with NCUA outlining its regulatory points of emphasis for the 2014 examination cycle.I often think much of the posturing and angst is overblown but inevitable given the fact that no one likes to be told what to do and regulators have a tremendous amount of power, some of which will be used to excess or be put in the hands of examiners, a small percentage of whom are not competent to exercise it. That being said, given some of the issues highlighted by NCUA, this could be a particularly contentious year — especially for smaller credit unions. Two issues in particular exemplify why friction is inevitable between examiners and the examined: cyber security and qualified mortgages (QM).Cyber security is the number two risk identified by NCUA right after interest rate risk. NCUA correctly notes that smaller institutions have been identified as “vulnerable entry points” for cyber terrorist to infiltrate larger networks. Against this backdrop, the NCUA informs us in bold that “credit unions of all sizes will be expected to implement appropriate risk mitigation controls.” We’ll have to keep a really close eye on how this point of emphasis is actually translated into examiner oversight.On the one hand, NCUA is absolutely correct in suggesting that, for cyber security purposes, the distinction isn’t so much between big and smaller institutions as it is between vulnerable and not as vulnerable institutions. On the other hand, it will never be realistic to expect smaller institutions to dedicate the same resources to deterring cyber crime as JP Morgan, for example. After all, there are many credit unions for which even hiring an IT person is cost prohibitive. continue reading »last_img read more


Judge to hear objections to $10B Volkswagen emissions deal

first_img SHARE Published: October 18, 2016 4:15 AM EDT Author: AP Judge to hear objections to $10B Volkswagen emissions deal center_img SAN FRANCISCO (AP) – A federal judge on Tuesday was set to hear from Volkswagen owners opposed to a $10 billion settlement over the automaker’s emissions cheating scandal before he determines if the deal is fair to consumers.More than two dozen people – many of them car owners unhappy with the proposed settlement – signed up to address U.S. District Judge Charles Breyer in San Francisco. He will decide whether to give the deal final approval, though he may not issue a ruling at the hearing. The judge gave it preliminary approval in July.The settlement calls for Volkswagen to spend up to $10 billion to buy back or repair about 475,000 Volkswagens and Audi vehicles with 2-liter diesel engines and pay their owners an additional $5,100 to $10,000 each. Any repair options have yet to be finalized.Vehicles with that type of engine make up the vast majority of the roughly 560,000 cars caught up in the scandal.Attorneys who negotiated the deal have said it includes substantial payments to car owners and has resounding support. More than 311,000 people have registered for the settlement and less than 3,300 people have opted out, the attorneys said in a court filing last month urging Breyer to give the deal final approval.Some owners have said they should receive the full purchase price of their vehicles. Others have opposed deductions for extra mileage.The settlement also includes $2.7 billion for unspecified environmental mitigation and an additional $2 billion to promote zero-emissions vehicles. The combined $14.7 billion deal would be the largest auto scandal settlement in U.S. history.The scandal erupted in September 2015 when the U.S. Environmental Protection Agency said the German automaker had fitted many of its cars with software to fool emissions tests, putting dirty vehicles on the road. Car owners and the U.S. Department of Justice sued.The software recognized when the cars were being tested on a treadmill and turned on pollution controls. The controls were turned off when the cars returned to the road. The EPA alleged the scheme let the cars spew more than 40 times the allowable limit of nitrogen oxide, which can cause respiratory problems in people.Volkswagen still faces potentially billions more in fines and penalties and possible criminal charges Do you see a typo or an error? Let us know.last_img read more


Di Telkomsel IIMS 2019, Toyota Hiace Luxury Commuter Type Q Siap Manjakan Penumpangnya

first_imgToyota Hiace Luxury Commuter Type Q. Sumber: istimewa Sebagai salah satu pabrikan kendaraan penumpang terkemuka di dunia, Toyota menghadirkan satu varian eksklusif yang akan menjamin kenyamanan setiap penumpang yang menaikinya. Melalui produk Toyota Hiace Luxury Commuter Type Q, pabrikan mobil asal Jepang ini semata-mata ingin menawarkan perjalanan super nyaman dengan konfigurasi bangku VIP 2-2-3. Ya, moda yang menjamin pengalaman berkendara yang mewah bagi penumpang ini turut dipamerkan pada pagelaran Telkomsel Indonesia International Motor Show (IIMS) 2019 yang diadakan di JIExpo Kemayoran.Baca Juga: Mercedes Benz Sprinter 315CD: Mewahnya Layanan Shuttle Jakarta – BandungMenurut salah satu juru bicara yang berada di lapangan, Toyota Hiace Luxury Commuter Type Q ini juga dipergunakan oleh salah satu perusahaan shuttle Jakarta – Bandung. Menurut pantauan KabarPenumpang.com di lapangan, kendaraan ini dilengkapi dengan tujuh bangku VIP yang juga dilengkapi dengan sistem pijat getar pada keseluruhan bagian belakang bangku. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Like this:Like Loading… Related Toyota Hiace Luxury Commuter Type Q ini juga dilengkap dengan kompartemen tengah berdesain futuristik yang juga tersemat laci penyimpanan dan ada juga sebuah coolbox yang terintegrasi dengan kompartemen tengah. Adapun keunikan lain dari moda ini adalah kursi bagian tengah yang mampu diputar 180 derajat, jadi Anda bisa lebih leluasa untuk berbincang dengan penumpang lain yang duduk di belakang Anda.Untuk sistem hiburannya, Toyota Hiace Luxury Commuter Type Q ini dilengkapi dengan 12 unit speaker (2 unit subwoofer) dengan total power mencapai 600 watts, dan monitor LED 15 inch yang sudah mampu menampilkan kualitas gambar HD. Untuk audio, pembagian sistemnya dibagi menjadi dua – satu untuk bangku depan dan satunya lagi untuk bangku penumpang yang berada di area belakang.Baca Juga: Kenali Shuttle Bus Jakarta – Bandung, Beda Perusahan Beda pula FasilitasnyaMasih berkaitan dengan sistem hiburan penumpang, Toyota Hiace Luxury Commuter Type Q ini juga dilengkapi dengan sebuah karaoke player yang siap untuk menemani setiap perjalanan Anda. Wah, berjalan-jalan sambil karaokean bersama orang-orang terdekat tentu akan menjadi satu pengalaman yang menyenangkan, bukan?Jangan lupakan sistem pintu geser otomatis yang ada pada bagian tengah moda, dimana keberadaannya semakin menambah nilai spesial dari keseluruhan moda ini.last_img read more