Archive | June 2017


One of our Lowell High Alums in action…


“The grass is greener where you water it” – unknown #ufscnet



Opportunities are momentary.

The below article was shared by Mr. Aben Hill, a friend of mine who is a leader at California Bank and Trust.
I mentioned to Aben that I thought the article was interesting and point #5 in the article connects with an insight a friend of mine who is a Board Member for a Financial Services company with locations internationally shared with me at lunch recently.

My lunch partner was discussing how how much investment money is chasing Fintech right now. Large companies are trying to acquire proven platforms for transaction streamlining, financial planning and so on. His point was that in most organizations the operations areas of these fintech firms are dangerously disorganized. 

That was news to me and point # 5 in Abens article is an OPPORTUNITY MOMENT for financial professionals to provide a badly needed solution in a fast growing sector of our industry – cultural, technical and regulatory expertise. 
We will be discussing this and other things at the Urban Financial Services Coalition 2017 Annual Leadership Summit July 26-30 at the Federal Reserve Bank of Kansas City. Hope to see you there!
Thank you Mr. Aben Hill!


POWER and EMPIRE might be relaxing, but these get results… part of the summer reading menu…#ufscnet


Civil rights investigation of Trump Administration-

This will be interesting.

Civil rights investigation of Trump Administration-

NEWS JUN 16 2017, 6:59 PM ET

Civil Rights Commission Will Launch Two-Year Probe of Trump Administration 



President Trump is under many microscopes right now. 
Not only did he allude through a tweet on Friday that he is the subject of an internal investigation by special counsel, but on the same day, an independent federal agency commissioned under Congress also said “grave concerns” were prompting an investigation into federal civil rights enforcement within his administration. 
The United States Commission on Civil Rights, a bipartisan agency charged with advising the president and Congress on civil rights matters, unanimously approved a comprehensive two-year probe into the “degree to which current budgets and staffing levels allow civil rights offices to perform” their functions within the administration, said the agency in a statement. 
Related: Trump Reports Hundreds of Millions in Financial Liabilities
The federal watchdog group became concerned about the Trump administration after several agencies announced budget and personnel cuts in departments that oversee civil rights. The “proposed cuts would result in a dangerous reduction of civil rights enforcement across the country, leaving communities of color, LGBT people, older people, people with disabilities, and other marginalized groups exposed to greater risk of discrimination,” said the statement. 
The commission, created under the Civil Rights Act and funded by Congress, expressed specific worry in seven agencies under the president, including the Department of Education and the Department of Justice. 
The “repeated refusal” of Education Secretary Betsy DeVos to commit to enforcing federal civil rights during Congressional testimony coupled with deep budget cuts within the agency’s Office of Civil Rights is “particularly troubling,” the agency added in the statement. 
DeVos was asked during a Senate subcommittee hearing earlier this month whether discrimination against LGBTQ students in private school would be allowed. 

Education Secretary Betsy DeVos testifies on Capitol Hill in Washington, Tuesday, June 6, 2017. Susan Walsh / AP file

While she did say “schools that receive federal funds must follow federal law,” she did not commit to banning discrimination, saying that area of law is “unsettled.” 
The Department of Education did not return a request for comment by NBC News. 
The commission also wants to look into the Department of Justice, which it says has completely changed its priorities. 
“Actions by the Department indicate it is minimizing its civil rights efforts,” the statement said. “For example, a majority of the Commission criticized DOJ’s decision to site Immigrations and Customs Enforcement officers in courthouses as a dangerous impediment to access to justice for all Americans,” the statement said. 
The investigation will also look into the departments of Labor, Housing and Urban Development, Health and Human Services, Environmental Protection Agency and the Legal Services Corporation — which are all expected to slash budget and personnel that monitor civil rights. 
While the commission does not have the ability to enforce the findings of its investigation, it will present the final report to Congress at the end of 2019. After that, it’s up to legislators to act. 
“For 60 years, Congress has charged the Commission to monitor Federal civil rights enforcement and recommend necessary change,” said Catherine E. Lhamon, who chairs the Commission. “We take this charge seriously, and we look forward to reporting our findings to Congress, the President, and the American people…


A conversation starter-

Quick points: 

1- removes fee caps on debit card transactions, 2- removes limits on checking overdraft treatment 3- illegal auto repossessions are back, 4- illegal foreclosure including Robosigning are back 5- rules requiring commissioned financial advisors to act in the interest of their client are eliminated. 6- rules prohibiting banks from using federally insured customer deposits in investments for the profit (proprietary trading) of the bank – not customers- are diminished. 7- the mechanism (CFPB) designed to take consumer complaints for financial matters (i.e.- savings accounts, checking accounts, investment accounts, credit cards, payday loans, mortgages, etc.) is downsized in authority and funding. 8- Banks now allowed back into more risky equity investments for higher returns.



With US Congressman John Garamendi, a collaborator on a number of joint projects.#wblendingsolutions