Vermont Business Magazine As a reminder to individuals on unemployment insurance benefits, Federal Pandemic Unemployment Compensation (FPUC), which has provided $600 per week in federal assistance, is scheduled to end on Saturday, July 25. FPUC has provided assistance to those on regular unemployment insurance, extended benefits, Pandemic Unemployment Assistance (PUA), and Pandemic Emergency Unemployment Compensation (PEUC).The CARES Act requires states to provide FPUC through July 31. Vermont, like many other states, ends its benefit week on Saturdays. July 25 is the last Saturday in the month. Federal law does not allow the state to pay this particular benefit through Saturday, August 1.Eligible claimants still unemployed as of July 26 will continue to receive benefits that do not include the additional $600 FPUC payment starting Monday, August 2.If an eligible claim is in pending status, and the claimant has completed all weekly certifications prior to July 25, they will retroactively receive their benefits, including FPUC payments, on the date the claim is approved.The additional unemployment programs outlined in the CARES Act — PUA and PEUC — will continue through December 26, 2020, the last Saturday of that month.For further updates and more information on unemployment insurance benefits for Vermonters and the Department of Labor, go to labor.vermont.gov(link is external).Source: Montpelier – VDOL 7.20.2020
Study delves into regulators’ decision-making in bank closuresStudy delves into regulators’ decision-making in bank closures
Share on Facebook Email Share on Twitter Share A new study from The University of Texas at Dallas found that commercial bank regulators consider much more than monetary cost when determining whether to close a troubled bank.According to the study, published in a recent issue of the Review of Financial Studies, regulators show a desire to defer costs into the future and appear to resist closing very large and very small banks. The study also found political influence affected their decisions.Dr. Malcolm Wardlaw, assistant professor of finance in the Naveen Jindal School of Management, said that instead of modeling the economic forces that cause a company to go bankrupt, the researchers wanted to model the regulator itself and determine what leads to its decision to close a bank. LinkedIn Pinterest “A regulatory agency is made up of people — people who have their own preferences and needs and wants and desires, and even if those agencies are free of corruption, people still are influenced by other things,” Wardlaw said.The study used data from the Federal Deposit Insurance Corp. (FDIC), the government agency that insures deposits in banks, to examine two time periods of bank closures — 1986-1992 and 2008-2012.The researchers used a technique typically used in labor economics called conditional choice probability estimation. Wardlaw said this is the first time a finance paper has used these tools, which measure how people make decisions.“If I’m a bank regulator, I can string this troubled bank along and hope it gets better, but the moment I decide we’re done and we need to close up shop, then I’m done making decisions about this bank,” Wardlaw said. “That bank is no more. Its assets get acquired by someone else or it’s dissolved.“A bank doesn’t fail on its own in the same way a corporation files for bankruptcy. A bank gets shut down by a regulator.”In the first time period, the study found:Regulators had an aversion to closing the largest and smallest troubled banks.If a bank was sitting on a lot of property, regulators chose not to close them.Regulators may have faced political pressure to leave certain banks open.Regulators were somewhat shortsighted, placing too much weight on costs today vs. potentially higher costs in the future.Those issues were gone in the 2008-2012 period, a testament to the efforts of regulators like the FDIC, Wardlaw said.“U.S. banking regulators went through a lot of handwringing and self-examination after the ’90s,” he said. “They recognized that closure policy had often been mismanaged, and they made a massive attempt to fix the problems. It appears they succeeded on many levels.”Wardlaw said bank closures recently have come back to the public’s attention. Bank failures were numerous in the 1980s and early 1990s, but largely halted from 1994 to 2006. Since 2007, it’s become an important issue again.“You always have to pay close attention to what your regulatory bodies are doing, and not just in times of crisis. There are a number of important regulatory bodies in the U.S., and you can’t just treat them as a cog in a machine. It’s important to make sure that you know exactly what influences these regulators.”
Saints keep reserve rusher, special teams regular WashingtonSaints keep reserve rusher, special teams regular Washington
Written By COMMENT LIVE TV SUBSCRIBE TO US First Published: 17th April, 2020 11:08 IST WATCH US LIVE Associated Press Television News The New Orleans Saints have re-signed reserve running back and special teams regular Dwayne Washington, general manager Mickey Loomis said Thursday.The four-year NFL veteran out of Washington has spent the past two seasons with New Orleans, carrying 35 times for 214 yards in that span. He also has had five special teams stops, a deflected punt and a blocked punt recovery in 29 games with the Saints.The 6-foot-1, 223-pound Washington joined the NFL as a seventh-round draft choice by Detroit in 2016 and spent his first two NFL seasons with the Lions.In New Orleans, his power running style has made him an attractive option when the Saints have been trying to protect late leads with ball control and winding down the clock.He rushed for a career-high 108 yards on 11 carries in New Orleans’ 2018 regular-season finale against the Carolina Panthers.The Saints have not released terms of Washington’s new contract. Last Updated: 17th April, 2020 11:08 IST Saints Keep Reserve Rusher, Special Teams Regular Washington The New Orleans Saints have re-signed reserve running back and special teams regular Dwayne Washington, general manager Mickey Loomis said Thursday. FOLLOW US
1 Jose Angel Crespo Aston Villa have completed the signing of Cordoba defender Jose Angel Crespo.The 28-year-old has signed a three-year deal at Villa Park and joins for an undisclosed fee.Crespo becomes Tim Sherwood’s seventh signing of the summer after completing a medical but is unlikely to feature in their friendly at Wolves on Tuesday.Manager Sherwood told the club’s official website: “Jose is a player who has been on our radar for some time and we’re really pleased to secure his signature.“He is an experienced player who has played in La Liga and Serie A, two of the strongest leagues in Europe, and from speaking to him I know he can’t wait to play for Aston Villa.”Former Spain Under-21 international Crespo has also played for Sevilla and Racing Santander as well as having spells in Italy with Padova, Bologna and Verona.