Cordray pressed on data security, QM

first_imgCFPB Director Richard Cordray was pressed by three House Financial Services Committee members on data security Tuesday in a hearing on the bureau’s fourth semiannual report to Congress.The hearing discussion covered a wide range of consumer financial protection issues, including CFPB’s mortgage rules. Additionally, three committee members specifically aired concerns about data security amid ongoing reports of the known breach at Target and the suspected one at Michaels Stores.Rep. Ed Royce, R-Calif., raised privacy concerns about the national mortgage database maintained by the Federal Housing Finance Agency and CFPB and pointed to a Government Accountability Office report that government breaches are up 42 percent over the last year. He also entered NAFCU’s most recent letter to Capitol Hill on data security into the hearing record.Rep. Ed Perlmutter, D-Colo., asked if CFPB has any jurisdiction over retailer breaches; Cordray said the bureau has put out a bulletin on how consumers can protect themselves.Rep. Randy Neugebauer, R-Texas, chairman of the housing and insurance subcommittee, asked how CFPB ensures the safety of the consumer data it maintains. Cordray said the bureau attempts to safeguard any aggregated information it has and complies with all security and privacy requirements. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

It is often the hardest cases that are sent for mediation

first_img Maurice Nichols is a mediator at Expedite Resolution It is a common (mis)conception that litigation and delay go hand in glove. Defendants perceive claimants as averse to settlement because they want to ‘costs build’; claimants perceive insurers as averse to settlement because they want to retain their funds as long as possible. Both suggest that delays in the court system are to blame. Neither side really looks at their own part in delay; a settlement paralysis often overwhelms cases because both sides have danced their best negotiation dances, and feel rejection in the air. Both sides wait for the next ‘settlement window’ so they can try again without looking over anxious and ‘without loss of credibility’ but when and how that might arise, and how much adverse effect that delay may have on the claim, no one can predict. Mediation has always provided a real option in this situation. The proposing party takes the initiative by being constructive, lateral thinking and problem solving, putting his opponent in the position of having to accept or reject it at his peril, and no one loses face. It is a much underused option, but in the brave new litigation world that is soon to arrive, all that might change. Courts are already sanctioning mediation avoidance with costs penalties (Rolf v De Guerin [2011] EWCA Civ 78). In PGF II SA v OMFS (2012 EWHC 83) the court chastised a party that rejected mediation because not all the expert evidence was in. The court’s rationale was that mediation is there to achieve a saving in costs and compromise can be explored without all the pieces being in the evidential jigsaw – broad brush will do. The old regime of brushing away mediation with impunity (unless you were unlucky like the successful but costs-deprived litigants in the cases mentioned) is changing fast and will continue to change as courts begin to examine the reasons for a refusal to mediate. More detailed reasons for the refusal will have to be given and the court may revisit those reasons after the case has been resolved. Satellite litigation can be envisaged where mediation is rejected, but the case eventually settles at a much later point. The dynamics of litigation are also set to change as a result of Jackson. Fixed costs, for instance, will drive claimants to settlement so that they bring a case home on – or ahead of – budget. And where the claimant himself has to meet all or part of his own costs, he will do his level best to make sure that early resolution is achieved. Alternative dispute resolution (ADR) andmediation in particular has a big part to play in that. One unwelcome outcome of these reforms is the prospect that there may be increasing numbers of disputes in the area of solicitor and own-client costs. Once again ADR has a part to play there in permitting the dispute to be addressed quickly and professionally by sensible and commonsense discussion, rather than by satellite litigation which will do little to enhance the public image of lawyers. About 80% of matters that come to mediation reach settlement. Given that the matters that come to mediation are the “unsettleables” that is an impressive statistic. It is a powerful tool in the litigator’s armoury. It is about to be an integral part of the litigation picture. It needs to be understood and embraced both for the lawyer’s own competence, and to provide a service to clients that is better than that provided by the competition.last_img read more

Darby warns new apprentices to stay focused

first_imgUnited Racehorse Trainers Association of Jamaica president Ryan Darby has warned this year’s apprentice graduation class that they must be respectful to each other at all times as they embark on their new career path. Darby was speaking at a recent graduation ceremony which was held last Thursday at the Jamaica Racing Commission, where 19 aspiring jockeys were awarded with apprentices’ licenses. “Being a jockey is a privileged professional position so consider yourself among the privileged and I know that many of you are eager to begin your journey,” Darby said. “Being a jockey is a risky business and a dangerous profession, so be gentle with each other and be careful at all times. Always remain grounded, humble and don’t be fooled by the quick cash or the high life.“Be committed and focused because this is not a nine-to-five job, so stop complaining and put in the work”. “Never compromise your integrity at any point in time.” Professor Kent Pantry, who was the guest speaker at the ceremony, encouraged the graduates that they must always strive to be the best that they can be at all times. “Being a jockey is a livelihood and it pays bills,” he said. “You have gotten this job so you must make use of this opportunity.“Some of you may ply your trade abroad and you may have to do interviews, so take all theses lesson well. Conduct yourselves in a professional manner.”Graduating apprentices:Calvin BaileyRichard ByrdMario ChongChad ForbesKawise GentleAkeem GrantRichard Henry Rojae HenryTanoy Henry, Nicholas HibbertRichard IngramShaquil McIntoshRamon Nepare Oshane NugentKemar PingilyYouville Pinnock Marshall PorterOshadean RobinsonJawara Steadmanlast_img read more

Andrew Luck retires from NFL due to mental wear and tear

first_img Andrew Luck injury update: Colts QB (lower leg) won’t practice this week Andrew Luck announces his retirement from the @NFL.— Indianapolis Colts (@Colts) August 25, 2019Luck, according to a report from ESPN, is “mentally worn down” and is “now checking out.”Andrew Luck has 171 passing TD in 6 seasons played, the 2nd most in NFL history over a player’s first 6 seasons behind Dan Marino (196).Luck had 39 TD passes last year; no player in NFL history has had more than 27 in his final season in the league (Roger Staubach, 1979).— Stats By STATS (@StatsBySTATS) August 25, 2019The 29-year-old quarterback was the No. 1 pick in the 2012 draft out of Stanford. He has made four Pro Bowls and was named the Pro Football Writers Association’s Comeback Player of the Year in 2018 after throwing for 4,593 yards with 39 touchdowns and 15 interceptions. That came one year after he was out for the season with a shoulder injury.Luck was dealing with a lower leg/ankle/bone injury in his ankle throughout the offseason and has practiced just three times in the lead up to the year.The Colts were hoping he would be back for the third preseason game so they could name him the starter, but they were ready to go with backup Jacoby Brissett who the team acquired in 2017 from the Patriots to play in Luck’s absence. Chalk this one up to a report we didn’t see coming.Colts quarterback Andrew Luck has retired from the NFL. The Colts announced he was making the decision Saturday.You can watch the press conference below. Related News Luck threw for 23,671 yards with 171 touchdowns and 83 interceptions in his career. He made the playoffs four times with his longest run going to the AFC Championship game in 2014.He was described by several as the best quarterback prospect since John Elway in the 1983 draft and his maturity along with arm strength and athleticism gave the NFL a very unique player who truly was one of the best in his time.He never won a Super Bowl but he truly was a remarkable player.last_img read more