CFPB taskforce should examine impact of rulemaking

first_imgThe Consumer Financial Protection Bureau’s (CFPB) Taskforce on Federal Consumer Financial Law should look closely at how the CFPB’s rules have impacted credit unions, CUNA wrote to the CFPB Monday. The CFPB is seeking information to assist with the taskforce, which was announced last October.“We urge the Taskforce, as it conducts its review, to look closely at the outsized impact that the Bureau’s rules have had on credit unions as community-based financial institutions and to recommend the Bureau streamline regulations with an eye toward improving the financial health and well-being of consumers,” the letter reads. “To that end, credit unions believe the Bureau’s rules should focus on Wall Street banks and the unregulated and under-regulated sectors of the financial services industry.”The letter outlines several legislative and regulatory recommendations to ensure credit unions can continue to provide high-quality financial products and services to members. Among the major principles, CUNA highlighted:The current single-director CFPB leadership structure should be replaced with a bipartisan commission, ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more

Dutch political party proposes cap for pensions sector salaries

first_imgDutch socialist party SP wants to limit pay for pension fund trustees and service providers’ staff to no more than the salary received by the Netherlands’ prime minister.Bart van Kent, MP for the SP, said he would attach an amendment to legislation implementing IORP II to cap pay at €187,000.He argued that the cap fitted with the EU directive’s explicit reference to “appropriate remuneration”.Currently, this cap – known as the WNT, or Balkenende standard – applies to pay at semi-public organisations, such as hospitals, schools and public broadcasters. Dutch socialists want pension sector workers to earn no more than prime minister Mark RutteHe said he also wanted pension funds to demand that asset managers comply with the WNT rules through a clause in their contracts.The Dutch parliament will debate the IORP II legislation on 26 September.In other news, Gijs van Dijk, MP for the labour party PvdA, has asked the Dutch government why bonuses at pensions providers have risen, while many of the country’s pension funds have been unable to grant inflation-linked increases.He argued that performance fees should only be paid if pension funds granted inflation compensation.His questions were triggered by the recent publication of a costs survey from consultancy LCP, which revealed that asset management costs had risen by almost €1bn, while schemes’ returns had dropped considerably. In Van Kent’s opinion, the pensions system was a special kind of social security in which high salaries were not appropriate, “as the money has been deposited by workers, and most pension funds can’t grant inflation compensation”.The MP also noted that pension funds paying high salaries didn’t perform better than schemes with more modest remuneration policies.last_img read more

Messi calls £70m Spurs target ‘phenomenal’

first_img According to Spanish outlet El Desmarque, Mourinho has personally contacted Real Madrid president Florentino Perez about Eder Militao’s availability in the case Jan Vertonghen leaves the club in the summer. The Belgium international is out of contract at the Tottenham Hotspur Stadium at the end of the season and there have been no developments regarding a breakthrough in talks between player and club. Militao, meanwhile, joined Real from Porto last summer, the Bernabeu side paying a reported €50million (£43million) for the Brazil international’s services, according to Goal. He has struggled in his maiden season for Real, however, failing to win Zinedine Zidane over, and has made just 13 appearances all season, with a mere seven starts in La Liga, according to Transfermarkt.Advertisement Despite his struggles at the Bernabeu, Militao has been given the Messi stamp of approval, the Barca talisman naming him in his 15 “youth on the rise” players for Topps Champions League cards. “A phenomenal talent and fierce competitor,” Messi wrote about Militao, as quoted by Give Me Sport. While Militao may be out of favour at Real Madrid, he is certainly a talented player who has impressed throughout most of his senior career – indeed, Mourinho was said to have monitored the defender while he was at Manchester United (Manchester Evening News). The 23-year-old is confident playing out from the back, comfortable with the ball, isn’t afraid to dribble forward from defence, rarely makes mistakes, and is superb with passes and deliveries, courtesy of his stints at right-back in Brazil. Read Also:Messi: We have accepted club’s proposal on pay-cuts However, Militao’s aerial presence has been questioned, and Mourinho could nonetheless have a tough transfer battle on his hands, given the Real board has reportedly placed a £70million price tag on his head. FacebookTwitterWhatsAppEmail分享 Loading… Promoted Content5 Of The World’s Most Unique Theme Parks8 Fascinating Facts About CoffeeCouples Who Celebrated Their Union In A Unique, Unforgettable WayWho Earns More Than Ronaldo?12 Flicks That Almost Ended Their Stars’ Careers5 Of The World’s Most Unique Theme Parks9 Facts You Should Know Before Getting A TattooSuper Recognizable Outfits That Actors Wore In The Famous Movies7 Non-Obvious Things That Damage Your PhoneWorld’s Most Famous Ceilings That Are Actually Works Of ArtEverything You Need To Know About Asteroid ArmageddonThe Very Last Bitcoin Will Be Mined Around 2140. Read More A player who is reportedly sought after by Tottenham Hotspur head coach, Jose Mourinho, has been praised by Barcelona legend Lionel Messi.last_img read more