2 Expected to Be Named to S.E.C. Enforcement Role

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Steven R. Peikin of Sullivan & Cromwell is expected to be named to run the commission’s enforcement division along with Stephanie Avakian, the acting enforcement director.

May 29, 2017 at 11:50PM

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from By MATTHEW GOLDSTEIN and BEN PROTESS

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Financial Literacy with The Disclosures, Chad Helminak & Chris Morris – TSH #023

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Financial literacy is imperative to the future. The best way to instill values and create great habits is to start with the youth. Dr. Brandi Luv Stankovic and her guests, Chad Helminak and Christopher Morris, co-founders of the band, The Disclosures discuss teaching financial literacy to young people through the medium of song.

Defining your mission and mixing your artistic and business sides are just a few topics covered in discovering how best to motivate the young for success.

The post Financial Literacy with The Disclosures, Chad Helminak & Chris Morris – TSH #023 appeared first on CUInsight.

May 29, 2017 at 10:31PM

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from CUInsight

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5 memorable quotes honoring American heroes

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On Memorial Day, we honor those that have lost their lives fighting for our freedom. Although we remember with gratitude each day of the year, today we come together to officially memorialize our fallen soldiers. Below are a few quotes honoring our American heroes that we can reflect on today and always.

“You silent tents of green, We deck with fragrant flowers; Yours has the suffering been, The memory shall be ours.” — Henry Wadsworth Longfellow.

“A hero is someone who has given his or her life to something bigger than oneself.” — Joseph Campbell

“It is foolish and wrong to mourn the men who died. Rather we should thank God that such men lived.” — General George S. Patton

“I only regret that I have but one life to lose for my country.” — Nathan Hale

“Our debt to the heroic men and valiant women in the service of our country can never be repaid. They have earned our undying gratitude. America will never forget their sacrifices.” — President Harry S. Truman

The post 5 memorable quotes honoring American heroes appeared first on CUInsight.

May 29, 2017 at 03:59PM

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from Wendy Bignon

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As C.E.O. Pay Packages Grow, Top Executives Have the President’s Ear

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The top 200 chief executives, who make more than last year, are holding meetings with President Trump, who is considering rolling back Dodd-Frank regulations.

May 28, 2017 at 10:45PM

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from By MATTHEW GOLDSTEIN

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New York Court of Appeals Holds that Out-of-State Entities Can be Liable for Aiding and Abetting Discrimination Under the New York Human Rights Law

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Out-of-state entities with the power to dictate a New York employer’s hiring and retention policies take notice:  you can be subject to liability under the New York Human Rights Law (“NYHRL”) if you “aid and abet” discrimination against individuals who have a prior criminal conviction, even if you are not the direct employer of those individuals.  In Griffin v. Sirva, Inc., the New York Court of Appeals held that while liability under Section 296(15) of the NYHRL (which prohibits employment discrimination based on prior criminal convictions) is limited to an aggrieved party’s employer, liability can extend beyond a direct employer under Section 296(6) of the NYHRL “to an out-of-state non-employer who aids or abets employment discrimination against individuals with a prior criminal conviction.”

In Griffin, the plaintiffs were employees of Astro, a New York moving company.  The plaintiffs had prior criminal convictions for sexual offenses against children.  After the plaintiffs were hired, Astro entered into a moving services contract with Allied, a nationwide moving company based on Illinois.  As a result of that contract, a large majority of Astro’s work was thereafter performed on behalf of Allied.

The contract required Astro to adhere to Allied’s Certified Labor Program guidelines, one of which required that employees who perform work in a customer’s home or place of business pass a criminal background check.  Under Allied’s guidelines, employees with prior sexual offense convictions automatically failed the screening.  Pursuant to the contract with Allied, Astro would have been subject to escalating penalties if it used unscreened labor.  Accordingly, the plaintiffs were screened and when their convictions were identified, Astro fired them.

The plaintiffs filed suit in the U.S. District Court for the Eastern District of New York against both Astro and Allied, alleging that their terminations based upon their prior criminal convictions violated the NYHRL.  Allied, which was not the plaintiffs’ direct employer, moved for summary judgment on the NYHRL claims.  The District Court granted its motion, holding that:  (1) Section 296(15) of the NYHRL applies only to employers and that Allied was not the plaintiffs’ employer; and (2) Section 296(6) of the NYHRL (the “aiding and abetting” provision) could not be used to impose liability on Allied because Allied did not participate in firing the plaintiffs.

The plaintiffs appealed the District Court’s decision to the Second Circuit Court of Appeals, which posed the following three questions to the New York Court of Appeals regarding the interpretation of Section 296(15) and 296(6) of the NYHRL:  (1) Does Section 296(15) of the NYHRL, prohibiting discrimination in employment on the basis of a criminal conviction, limit liability to an aggrieved party’s “employer”?  (2) If liability under Section 296(15) is limited to an aggrieved party’s employer, what is the scope of the term “employer” for purposes of that provision?  (3) Does Section 296(6) of the NYHRL extend liability to an out-of-state non-employer who aids or abets employment discrimination against individuals with a prior criminal conviction?  The Court answered the first question by holding that liability under Section 296(15) is limited to an aggrieved party’s employer.  The Court answered the second question by holding that common law principles of an employment relationship should be applied, “with greatest emphasis placed on the alleged employer’s power to ‘to order and control’ the employee in the performance of his or her work.”  The Court answered the final question by holding that an out-of-state non-employer who engages in conduct that aids or abets employment discrimination against individuals with a prior criminal conviction — for example, by imposing contractual terms on a New York employer prohibiting the use of employees with certain types of criminal convictions from performing work under the contract — can be held liable under Section 296(6) of the NYHRL if the employer is determined to have violated Section 296(15) of the NYHRL by complying with the terms of the contract.

While the plaintiffs’ appeal to the Second Circuit regarding the dismissal of their claims against Allied was pending, their claims against Astro (their direct employer) proceeded to a jury trial.  The jury found that Astro did not violate the NYHRL by firing the plaintiffs due to their prior criminal convictions.  Therefore, in this particular case, it does not appear that Allied will be subject to liability.  However, the interpretation of Section 296(6) of the NYHRL set forth by the New York Court of Appeals can certainly be used in future cases to impose liability on an out-of-state non-employer who imposes contractual terms on a New York employer that cause the New York employer to violate Section 296(15) of the NYHRL.

The post New York Court of Appeals Holds that Out-of-State Entities Can be Liable for Aiding and Abetting Discrimination Under the New York Human Rights Law appeared first on New York Labor And Employment Law Report.

May 28, 2017 at 07:47PM

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from Richard S. Finkel

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3 ways to build better member experiences

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“Wow, what a great experience.” Those five words should be at the top of members’ minds after every interaction with their credit union. Whether they’re engaging in person, online or over the phone, members should be guaranteed a positive experience. In fact, it’s what they expect.

For three out of five Americans, getting a better experience is a reason to try a new brand or company (or credit union). First Technology Federal Credit Union, a $10 billion institution based in Silicon Valley and serving technology-driven companies, wants to ensure its members don’t feel that need to switch. Creating member loyalty involves three key steps at First Tech.

1. Recognizing who the competition is. It’s no longer banks and other credit unions that pose the biggest competition. Members now rank their credit union experiences based on all of their experiences with brands and companies. “They’re comparing us against Facebook, against Netflix, against Amazon,” said Michael Upton, chief digital and technology officer at First Tech. “As a financial services company, we believe it is absolutely vital we benchmark ourselves against the type of experiences our members have come to expect, whether they’re online or on their phones.”

2. Investing in data analytics. Delivering the relevant, personalized experiences members demand begins with data. Once a credit union has a plethora of member data on hand, though, the next big question is what to do with it all. That’s where a data warehouse and dedicated analytics team can help. By investing in both, First Tech has taken control of its data. Upton noted, “If you understand what’s happening, you can then start to design products and actions.” Already, members are beginning to expect their credit unions to proactively fill needs they don’t know they have.

3. Focusing on omnichannel. A member’s credit union experience should be seamless from one channel to another. This is what’s known as omnichannel. First Tech launched an omnichannel experience initiative about two years ago. “Whether our members call us at the contact center, come into our retail branch or choose to come online, the omnichannel is aware of those interactions,” said Upton. “We can create an experience that allows a member to start at one part of the company and complete any of their tasks at any other part of our company.”

To learn more about optimizing member experiences, register for the “Jobs to Be Done” webinar – the latest in CO-OP’s Digital Transformation webinar series.

The post 3 ways to build better member experiences appeared first on CUInsight.

May 28, 2017 at 02:49PM

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from Robbie Burgett

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Plane Speaking Judge Rips Aircraft Firm’s Cash Stockpile

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A airplane leasing company with no airplanes that socked away $190 million it was supposed to return to its lenders was called out Friday by a New York federal judge who said the business had no right to hoard the cash based on an “imagined” Brazilian legal risk and other “vague and conclusory” obligations.

May 27, 2017 at 06:25AM

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