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STATES Act is ‘reasonable and sound’ approach to cannabis

first_img continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr CUNA wrote in support of House and Senate companion bills Thursday that would clarify the federal treatment of marijuana where it is legal and permit credit unions in those states to serve members’ related needs. The Strengthening the Tenth Amendment Through Entrusting States (STATES) Act of 2019 was introduced by Sens. Elizabeth Warren (D-Mass.) and Cory Gardner (R-Colo.) in the Senate and Reps. Earl Blumenauer (D-Ore.) and Dave Joyce (R-Ohio).“The STATES Act would provide credit unions and other financial institutions accepting deposits from, extending credit or providing payment services to an individual or business engaged in marijuana-related commerce in states where such activity is legal with legal protections, so long as they are compliant with all other applicable laws and regulations,” the letter reads. “Furthermore, the legislation makes clear that compliant financial transactions do not constitute trafficking or result in proceeds of an unlawful transaction, providing additional clarity to credit unions and the members they serve.last_img read more

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Duquesne faces tough test vs No. 5 Dayton

first_img Associated Press BIG MEN ON CAMPUS: Dayton’s Obi Toppin has averaged 19.4 points and 7.7 rebounds while Jalen Crutcher has put up 14.4 points and 4.7 assists. For the Dukes, Marcus Weathers has averaged 14.6 points and eight rebounds while Sincere Carry has put up 11.6 points and five assists.OFFENSIVE THREAT: Carry has had his hand in 49 percent of all Duquesne field goals over the last three games. Carry has 14 field goals and 21 assists in those games.SCORING THRESHOLDS: Duquesne is 16-0 when it limits opponents to 69 or fewer points, and 2-7 when opposing teams exceed 69 points. Dayton is 22-0 when holding opponents to 76 points or fewer, and 2-2 whenever teams score more than 76 on the Flyers.THREAT BEHIND THE ARC: Duquesne’s Tavian Dunn-Martin has attempted 162 3-pointers and connected on 36.4 percent of them, and is 12 for 32 over the past three games.DID YOU KNOW: Dayton is ranked eighth among all Division I teams with an average of 80.6 points per game. Share This StoryFacebookTwitteremailPrintLinkedinRedditDuquesne (18-7, 8-5) vs. No. 5 Dayton (24-2, 13-0)University of Dayton Arena, Dayton, Ohio; Saturday, 2 p.m. ESTBOTTOM LINE: No. 5 Dayton presents a tough challenge for Duquesne. Duquesne has played a ranked team only once this season and lost. Dayton has won all 13 games against A10 opponents this season. February 20, 2020center_img Duquesne faces tough test vs No. 5 Dayton ___For more AP college basketball coverage: https://apnews.com/Collegebasketball and http://twitter.com/AP_Top25___This was generated by Automated Insights, http://www.automatedinsights.com/ap, using data from STATS LLC, https://www.stats.comlast_img read more

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GBTI records $603M profit

first_imgMid-year Financial Report… crime continues to dampen struggling economic growth – ChairmanAfter-tax profit made by the Guyana Bank for Trade and Industry Limited (GBTI) and its subsidiaries between January and June 2017 stands at $603 million, down from the $961 million recorded for the same period in 2016.Chairman of GBTI, Robin StobyThe GBTI Mid-Year (Interim) Financial Report has detailed that the company earned just over $902 million net profit after tax from its operations conducted during the first half (Jan/June) of 2016; but has recorded $599 million net profit after tax for the comparative period in 2017.Moreover, a slight change in the company and group’s asset holdings has seen its worth decrease by some $2 billion for the first half of 2017, but the company’s cash resources have moved from $19 billion in 2016 to $22 billion in 2017.This financial performance was, no doubt, due in part to the fraud perpetrated on the bank earlier this year, and partially because of economic issues facing the local financial sector, it has been said.Chairman of the GBTI Board, Robin Stoby, said in his report that the local economy experienced significant disruptions in the first quarter of the year due to cyclical fluctuations in the foreign currency market.“The (GBTI) if happy to report that it has been able to resume significant correspondent banking relationships, which have relieved the pressure on the delivery of foreign exchange supplies,” he explained.The Guyana Bank for Trade and Industry Limited head officeThe chairman noted that crime continues to dampen both the struggling economic growth and the investment climate. He referred to local banks, including GBTI, being faced with rising levels of non-performing loans, and slower credit with growth in the private sector.Disclosing that the GBTI has provided for the fraud perpetrated on it, Stoby declared, “We remain optimistic that the legal process will be completed before the end of the year.”Stoby had, in May 2017, told GBTI shareholders that the bank would recover the $941 million lost in a fraudulent transaction allegedly conducted by gold dealer Saddiqi Rasul. He had said that while, in the short term, the bank would have to make provisions for the loss, affecting earnings for the year, the board’s intention was to make an insurance claim for the money, in addition to conducting civil proceedings in an attempt to recover as much of the funds as possible.The former Chief Justice, Senior Counsel Ian Chang, has been contracted as a special prosecutor in the case, as the board was “not satisfied with progress on the matter.” Chang has been authorised to pursue the bank’s interest in an urgent manner, and prosecute the case to finality with the help of the Guyana Police Force and the Director of Public Prosecutions.Rasul, owner of SSS Minerals Trading, was on April 3rd charged with six counts of fraud, wherein it was alleged that between March 21 and March 22, at Bartica, with intent to defraud, he obtained from GBTI $96 million, $290 million, $89 million, $45 million, $298 million and $138 million by falsely pretending that he had cash in a Citizens Bank account to honour cheques that he had written. Rasul has denied the charges, and has been placed on a total of $3million bail.last_img read more