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House poised to approve plan to loosen federal banking regulations

House poised to approve plan to loosen federal banking regulations

With Republicans unable to muster the votes to repeal a major financial regulation law put in the place after the 2008 Wall Street Collapse, the House on Tuesday is expected to give final approval to a less sweeping plan already backed by the Senate, which would ease a series of financial rules and regulations on smaller banking institutions enacted under the 2010 Dodd-Frank law. “The cycle of lending and job creation has been stifled by onerous regulation,” said Sen. Mike Crapo (R-ID), who shepherded the bill through the Senate with bipartisan support, and then prevailed on House Republicans to simply accept the plan, instead of trying to make changes which might have doomed the bill’s chances. “I’m happy to say we’re in the final stages of making these bills law,” said Rep. Rob Woodall (R-GA), as a House panel moved to set up Tuesday’s debate on the banking regulation changes. Among the many provisions in the bill: + Banks with less than $250 billion in assets would no longer be subjected to federal “stress tests” – the current threshold is $50 billion. + Eases regulatory requirements on banks with less than $10 billion in assets (mainly known as ‘community banks’) + Loosens minimum standards on certain home mortgage loans, with a goal of allowing more small banks and credit unions to make such loans. + The plan steps up protections for veterans on predatory loans. + Active duty service members would get additional protections from foreclosures. + Consumers would be eligible in some cases for unlimited credit security freezes to deal with credit fraud alerts. As in the debate earlier this year in the Senate, more liberal Democrats in the House have sternly argued against the bill, making the case that it takes away too many protections enacted in the original 2010 Dodd-Frank law. “Defeating this legislation is important to preventing Wall Street from crashing our economy again,” said Rep. Pramila Jaypal (D-WA). “We must not allow the GOP Congress to drag us back to the same lack of oversight that ignited the Great Recession,” wrote House Democratic Leader Nancy Pelosi and Rep. Maxine Waters (D-CA) to their colleagues. Pelosi & Waters write to House Democrats to “urge you to vote no on this dangerous rollback of the consumer protections of Dodd Frank,” the Senate-passed banking overhaul on House floor tomorrow. — Craig Caplan (@CraigCaplan) May 21, 2018 Consumer watchdog groups like Public Citizen have labeled the bill, the “Bank Lobbyist Act,” arguing it would increase chances for ‘another taxpayer bailout of reckless financial institutions.’ But while the progressive wing of the Democratic Party has objected, other Democrats heard the pleas of small community and regional banks, one reason the Senate voted 67-31 to approve the bill earlier this year. “It is no coincidence that the bill’s Democratic sponsors come not from major financial hubs, but rural areas where small banks provide a disproportionate share of loans,” said Sen. Michael Bennet (D-CO). While the bill falls well short of the repeal of Dodd-Frank which had been sought by many Republicans, it is still a plus for the GOP, giving President Trump one more item to sign into law, one more bullet point to rattle off for supporters on achievements during his time in office. “This bill will provide long overdue relief from the regulatory behemoth that is Dodd-Frank,” said Rep. Blaine Leutkemeyer (R-NE), as Republicans said the changes would spur new economic growth, by helping businesses gain access to new credit.

Court orders man to pay $2M in child support in 'bizarre' case involving identity theft

Court orders man to pay $2M in child support in 'bizarre' case involving identity theft

An Indiana judge awarded nearly $2 million in back child support to a woman whose husband -- who disappeared in 1993 and was thought to be dead -- was arrested in Florida two years ago on an identity theft charge, the Journal Gazette reported. >> Read more trending news Hamilton County Superior Court Magistrate William Greenway and Judge Jonathan M. Brown said Richard J. Hoagland owes his ex-wife -- Linda K. Iseler -- more than $1.86 million, including nearly $1.4 million in interest charged to payments he should have been making since 1993, according to court documents. Hoagland had been considered dead since 2003, according to court documents. According to court documents, Hoagland, 63, abandoned his family in December 1993 and moved to Pasco County, Florida. He lived under the name of Terry Jude Symansky and remarried in December 1995. He and his Florida wife, the former Mary Hossler Hickman, had a child together. Hoagland also bought property that included at least one airplane, according to court documents. The family lived in Zephyrhills. Hoagland was arrested in Florida in July 2016 on a charge of fraudulent use of personal identification, the Journal Gazette reported. The real Terry Symansky drowned in Florida in 1991 at age 33. He was from Cleveland, moved to Florida and became a commercial fisherman, The Tampa Bay Times reported in 2016.  “Bizarre,” Tom Markle, an attorney who represents Iseler -- known in 1993 as Linda Hoagland -- told the Journal Gazette. Hoagland’s secret double life was unraveled thanks to Ancestry.com, Pasco County Sheriff Chris Nocco told the Times in 2016. A nephew of the real Symansky, working on a genealogy project, was shocked to see a Florida marriage license issued in his uncle’s name four years after his death. His uncle had never been married. Authorities were contacted in April 2016 and Hoagland was arrested three months later. After Mary Hoagland found out about her husband’s real identity, she told Nocco that she found his real identification documents in a briefcase in the attic, the Times reported. She also found a deed to property in Louisiana her husband bought in 2015, and a key to a storage unit. Richard Hoagland is living in Indianapolis and was recently released from jail in Citrus County, Florida, Markle said. Hoagland's attorney, Paula J. Schaefer, of Indianapolis, has not commented on the case, the Journal Gazette reported. A hearing is scheduled for July 19. 

Alabama man wants to cut lawns in all 50 states

Alabama man wants to cut lawns in all 50 states

Cutting lawns during the summer can be a chore, especially when temperatures and humidity rise. But an Alabama man not only enjoys cutting grass, he also wants to mow in all 50 states. >> Read more trending news “I’m on a journey called ‘50 States, 50 Lawns,’” Rodney Smith told WHAS. “(I’ll be) mowing a lawn in each state for someone who's elderly, disabled, a single parent mother or veteran. Smith has done yardwork in four states so far, he told WHAS. Smith, who lives in Huntsville, Alabama, but is originally from Bermuda, admitted that as a youth he did not like to cut grass. However, a chance encounter with an elderly man changed his perspective. 'It was on a hot, sunny August day and he was struggling, so I pulled up and helped him out and he really appreciated it,' Smith told WHAS. 'And I realized that this is something that so many people deal with.' It was that encounter that led Smith to create the Raising Men Lawn Care Service, which helps needy people by cutting their lawns for free. Sunday, Smith was in Louisville to mow the yard of a woman who had recently lost her husband. 'I came to release some stress off her back by mowing her lawn,' Smith told WHAS. Smith’s business goal is to encourage youths to pitch in and help neighbors in need. He has set a goal of 50 lawns for each youth, WHAS reported. 'Once they reach 50, we fly to them and we do lawns with them and we also surprise them with a brand new lawn mower,' Smith said. According to Smith, 12 boys have completed the 50-yard challenge. There are more than 100 kids involved in the Raising Men Lawn Care Service in the United States and there are also participants in Canada, Bermuda and England, WHAS reported.

 WHAT: Gubernatorial Candidate Forum – where the focus will be on education (should be very interesting due to the fact we are still fresh off the teacher walkout).  EVENT SPONSORS: Bixby PLAC, Jenks PLAC, Bixby Chamber of Commerce, the Jenks Chamber of Commerce, KRMG, FOX23 and the Tulsa World  WHEN: Monday, June 4th from 7pm – 9pm  WHERE: Jenks High School   CANDIDATES: Mick Cornett, Connie Johnson, Gary Jones, Gary Richardson and Kevin Stitt  MODERATORS: KRMG’s Russell Mills, FOX23’s Shae Rozzi and the Tulsa World’s Wayne Greene  TICKETS: This event is free to the public but you do have to register if you want to go – do it now because there is very limited seating CLICK HERE to register now! OTHER: We’d love to see you there, but if you can’t make it in person you can hear it live commercial free on KRMG from 7pm – 9pm, watch it on our Facebook page, watch it live on TV on My41 and get all the latest reaction in the Tulsa World. And of course, we will go in-depth the very next morning on the KRMG Morning News with Dan Potter.  INFO: on KRMG.com and the KRMG App. Oklahoma's voters think improving public education is one of the most important issues the next governor will face. This year's election comes at a critical time in statewide efforts to increase the academic performance of students, restore critical funding and stop the teacher shortage that is plaguing our state. Join the parents of the Bixby and Jenks Parent Legislative Action Committees and the Bixby and Jenks Chambers of Commerce along with The Tulsa World, FOX23, and KRMG as we explore the education policy ideas and positions of our gubernatorial candidates. Shae Rozzi, FOX23 Anchor, Wayne Greene, Tulsa World Editorial Pages Editor, and Russell Mills, KRMG Reporter/Anchor, will moderate this lively and informative forum.  
 WHAT: Gubernatorial Candidate Forum – where the focus will be on education (should be very interesting due to the fact we are still fresh off the teacher walkout).  EVENT SPONSORS: Bixby PLAC, Jenks PLAC, Bixby Chamber of Commerce, the Jenks Chamber of Commerce, KRMG, FOX23 and the Tulsa World  WHEN: Monday, June 4th from 7pm – 9pm  WHERE: Jenks High School   CANDIDATES: Mick Cornett, Connie Johnson, Gary Jones, Gary Richardson and Kevin Stitt  MODERATORS: KRMG’s Russell Mills, FOX23’s Shae Rozzi and the Tulsa World’s Wayne Greene  TICKETS: This event is free to the public but you do have to register if you want to go – do it now because there is very limited seating CLICK HERE to register now! OTHER: We’d love to see you there, but if you can’t make it in person you can hear it live commercial free on KRMG from 7pm – 9pm, watch it on our Facebook page, watch it live on TV on My41 and get all the latest reaction in the Tulsa World. And of course, we will go in-depth the very next morning on the KRMG Morning News with Dan Potter.  INFO: on KRMG.com and the KRMG App. Oklahoma's voters think improving public education is one of the most important issues the next governor will face. This year's election comes at a critical time in statewide efforts to increase the academic performance of students, restore critical funding and stop the teacher shortage that is plaguing our state. Join the parents of the Bixby and Jenks Parent Legislative Action Committees and the Bixby and Jenks Chambers of Commerce along with The Tulsa World, FOX23, and KRMG as we explore the education policy ideas and positions of our gubernatorial candidates. Shae Rozzi, FOX23 Anchor, Wayne Greene, Tulsa World Editorial Pages Editor, and Russell Mills, KRMG Reporter/Anchor, will moderate this lively and informative forum.  
 WHAT: Gubernatorial Candidate Forum – where the focus will be on education (should be very interesting due to the fact we are still fresh off the teacher walkout).  EVENT SPONSORS: Bixby PLAC, Jenks PLAC, Bixby Chamber of Commerce, the Jenks Chamber of Commerce, KRMG, FOX23 and the Tulsa World  WHEN: Monday, June 4th from 7pm – 9pm  WHERE: Jenks High School   CANDIDATES: Mick Cornett, Connie Johnson, Gary Jones, Gary Richardson and Kevin Stitt  MODERATORS: KRMG’s Russell Mills, FOX23’s Shae Rozzi and the Tulsa World’s Wayne Greene  TICKETS: This event is free to the public but you do have to register if you want to go – do it now because there is very limited seating CLICK HERE to register now! OTHER: We’d love to see you there, but if you can’t make it in person you can hear it live commercial free on KRMG from 7pm – 9pm, watch it on our Facebook page, watch it live on TV on My41 and get all the latest reaction in the Tulsa World. And of course, we will go in-depth the very next morning on the KRMG Morning News with Dan Potter.  INFO: on KRMG.com and the KRMG App. Oklahoma's voters think improving public education is one of the most important issues the next governor will face. This year's election comes at a critical time in statewide efforts to increase the academic performance of students, restore critical funding and stop the teacher shortage that is plaguing our state. Join the parents of the Bixby and Jenks Parent Legislative Action Committees and the Bixby and Jenks Chambers of Commerce along with The Tulsa World, FOX23, and KRMG as we explore the education policy ideas and positions of our gubernatorial candidates. Shae Rozzi, FOX23 Anchor, Wayne Greene, Tulsa World Editorial Pages Editor, and Russell Mills, KRMG Reporter/Anchor, will moderate this lively and informative forum.  
 WHAT: Gubernatorial Candidate Forum – where the focus will be on education (should be very interesting due to the fact we are still fresh off the teacher walkout).  EVENT SPONSORS: Bixby PLAC, Jenks PLAC, Bixby Chamber of Commerce, the Jenks Chamber of Commerce, KRMG, FOX23 and the Tulsa World  WHEN: Monday, June 4th from 7pm – 9pm  WHERE: Jenks High School   CANDIDATES: Mick Cornett, Connie Johnson, Gary Jones, Gary Richardson and Kevin Stitt  MODERATORS: KRMG’s Russell Mills, FOX23’s Shae Rozzi and the Tulsa World’s Wayne Greene  TICKETS: This event is free to the public but you do have to register if you want to go – do it now because there is very limited seating CLICK HERE to register now! OTHER: We’d love to see you there, but if you can’t make it in person you can hear it live commercial free on KRMG from 7pm – 9pm, watch it on our Facebook page, watch it live on TV on My41 and get all the latest reaction in the Tulsa World. And of course, we will go in-depth the very next morning on the KRMG Morning News with Dan Potter.  INFO: on KRMG.com and the KRMG App. Oklahoma's voters think improving public education is one of the most important issues the next governor will face. This year's election comes at a critical time in statewide efforts to increase the academic performance of students, restore critical funding and stop the teacher shortage that is plaguing our state. Join the parents of the Bixby and Jenks Parent Legislative Action Committees and the Bixby and Jenks Chambers of Commerce along with The Tulsa World, FOX23, and KRMG as we explore the education policy ideas and positions of our gubernatorial candidates. Shae Rozzi, FOX23 Anchor, Wayne Greene, Tulsa World Editorial Pages Editor, and Russell Mills, KRMG Reporter/Anchor, will moderate this lively and informative forum.  
House poised to approve plan to loosen federal banking regulations

With Republicans unable to muster the votes to repeal a major financial regulation law put in the place after the 2008 Wall Street Collapse, the House on Tuesday is expected to give final approval to a less sweeping plan already backed by the Senate, which would ease a series of financial rules and regulations on smaller banking institutions enacted under the 2010 Dodd-Frank law.

“The cycle of lending and job creation has been stifled by onerous regulation,” said Sen. Mike Crapo (R-ID), who shepherded the bill through the Senate with bipartisan support, and then prevailed on House Republicans to simply accept [More]