The Fed wants to loosen regulations even more for community banks

The Federal Reserve isn’t finished easing up rules for the nation’s smallest financial institutions, according to remarks Wednesday from the central bank’s top regulator. He said the next proposal would be aimed at a leverage ratio proposal for community banks. In the most recent changes, the Fed put banks into four categories for leverage requirements but stressed that size was only one factor it would use in determining how much of a buffer banks would need. Those changes were aimed primarily


The Federal Reserve isn’t finished easing up rules for the nation’s smallest financial institutions, according to remarks Wednesday from the central bank’s top regulator. He said the next proposal would be aimed at a leverage ratio proposal for community banks. In the most recent changes, the Fed put banks into four categories for leverage requirements but stressed that size was only one factor it would use in determining how much of a buffer banks would need. Those changes were aimed primarily
The Fed wants to loosen regulations even more for community banks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: jeff cox
Keywords: news, cnbc, companies, community, financial, proposal, loosen, changes, capital, fed, strong, overall, sought, banks, regulations, wants


The Fed wants to loosen regulations even more for community banks

The Federal Reserve isn’t finished easing up rules for the nation’s smallest financial institutions, according to remarks Wednesday from the central bank’s top regulator.

Just two weeks after the Fed announced changes to the way banks are classified and the types of capital cushions they’ll need, Randal Quarles, vice chair of supervision, said more changes are coming that will allow community banks relief from the post-financial crisis capital requirements

“Our work to improve regulatory efficiency is not done, and we expect to make additional progress in the months ahead on a number of issues,” Quarles said in remarks to be delivered to the House Financial Services Committee. He said the next proposal would be aimed at a leverage ratio proposal for community banks.

“We expect that this proposal would meaningfully reduce the compliance burden for community banking organizations, while preserving overall levels of capital at small banks and our ability to take prompt action when problems arise,” he added.

In the most recent changes, the Fed put banks into four categories for leverage requirements but stressed that size was only one factor it would use in determining how much of a buffer banks would need. Beyond assets, the central bank said it would consider nonbank assets, short-term wholesale funding and off-balance-sheet exposure.

Those changes were aimed primarily at easing conditions for banks with between $100 billion and $250 billion in assets.

Dodd-Frank reforms after the financial crisis sought to increase capital buffers, decrease risk-taking and institute a procedure for unwinding banks that fell into the “too big to fail” category.

However, President Donald Trump has said some of those efforts went too far, and the administration has sought to loosen the reins for community and regional institutions while still keeping protections in place for larger institutions.

Quarles said the reforms have largely worked and the system overall is in solid shape.

“The banking sector remains in strong condition, in line with strong U.S. economic performance, with lending growth, fewer nonperforming loans, and strong overall profitability,” he said.

He did note that several areas of concern remain that the Fed is monitoring closely, with a particular focus on cyber and technology risks.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: jeff cox
Keywords: news, cnbc, companies, community, financial, proposal, loosen, changes, capital, fed, strong, overall, sought, banks, regulations, wants


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Democrats to investigate whether Trump administration sought to punish AT&T, Amazon

Representative Elijah Cummings, the likely incoming chairman of the House Oversight and Government Reform Committee, said the committee “may want to look into” if the White House retaliated against Amazon and AT&T. Since winning control of the House of Representatives in the midterm elections last week, Democrats have vowed to launch investigations on a wide range of topics involving the Trump administration. Schiff said Trump “was secretly meeting with the postmaster (general) in an effort to b


Representative Elijah Cummings, the likely incoming chairman of the House Oversight and Government Reform Committee, said the committee “may want to look into” if the White House retaliated against Amazon and AT&T. Since winning control of the House of Representatives in the midterm elections last week, Democrats have vowed to launch investigations on a wide range of topics involving the Trump administration. Schiff said Trump “was secretly meeting with the postmaster (general) in an effort to b
Democrats to investigate whether Trump administration sought to punish AT&T, Amazon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-11  Authors: getty images
Keywords: news, cnbc, companies, sought, postal, committee, week, post, schiff, investigate, amazon, administration, punish, att, trump, house, white, democrats


Democrats to investigate whether Trump administration sought to punish AT&T, Amazon

When Democrats take control of the U.S. House they plan to investigate the Trump administration’s decision to try to block AT&T from acquiring Time Warner, and whether officials sought to punish Amazon.com by prodding the U.S. Post Office to hike shipping prices for the world’s largest e-commerce company, a senior Democrat said on Sunday.

Speaking to online publication Axios, Representative Adam Schiff, who is expected to be the incoming chairman of the House Intelligence Committee, said Democrats will review if Trump used the powers of the federal government to punish the companies.

Representative Elijah Cummings, the likely incoming chairman of the House Oversight and Government Reform Committee, said the committee “may want to look into” if the White House retaliated against Amazon and AT&T.

Cummings also said on ABCs “This Week” that he intends to investigate if Trump killed plans to relocate the new headquarters of the FBI because moving it could harm his business interests in the Trump Hotel across the street.

Since winning control of the House of Representatives in the midterm elections last week, Democrats have vowed to launch investigations on a wide range of topics involving the Trump administration.

Amazon Chief Executive Jeff Bezos owns the Washington Post, while Time Warner’s holdings include CNN. Trump has lambasted both outlets frequently for their critical coverage.

“It is very squarely within our responsibility to find out, Schiff told Axios in an interview that will air Sunday on HBO.

Schiff said Trump “was secretly meeting with the postmaster (general) in an effort to browbeat the postmaster into raising postal rates on Amazon… This appears to be an effort by the president to use the instruments of state power to punish Jeff Bezos and the Washington Post,” Schiff said.

It is not clear what committees may probe the corporate issues, since Schiff’s Intelligence Committee would not have oversight. A Schiff spokesman declined further comment.

AT&T and Amazon.com both declined to comment Sunday. The White House did not immediately comment.

Trump has repeatedly complained Amazon does not pay the U.S. Postal Service a fair rate for package delivery. Trump has said, without citing evidence, that this costs U.S. taxpayers billions of dollars, and he has threatened to raise the company’s postal rates.

Trump opposed the AT&T-Time Warner merger as a candidate and has repeatedly attacked CNN and last week a CNN reporter’s White House press pass was suspended.

The Justice Department is appealing a federal judge’s approval of the $85.4 billion AT&T acquisition of Time Warner.

With a split decision in last week’s congressional elections, Democrats plan a cautious approach. House Democratic Leader Nancy Pelosi told CBS’s “Face the Nation” that Democrats will not conduct “any investigation for a political purpose, but to seek the truth.”

Cummings vowed a “methodical” approach in approaching investigations. “I’m not going to be handing out subpoenas like somebodys handing out candy on Halloween,” Cummings said.


Company: cnbc, Activity: cnbc, Date: 2018-11-11  Authors: getty images
Keywords: news, cnbc, companies, sought, postal, committee, week, post, schiff, investigate, amazon, administration, punish, att, trump, house, white, democrats


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UBS expects to be sued by US Justice Department over crisis-era mortgage securities

The U.S. Department of Justice did not immediately respond to a request for comment. UBS said it had been advised by the Justice Department that the law enforcement agency intends to file the civil complaint. It anticipates the Justice Department will seek unspecified monetary penalties regarding the mortgage securities, which date back to 2006 and 2007. The lawsuit would be among the last actions over misconduct in the sale and pooling of mortgage securities which helped to cause the financial


The U.S. Department of Justice did not immediately respond to a request for comment. UBS said it had been advised by the Justice Department that the law enforcement agency intends to file the civil complaint. It anticipates the Justice Department will seek unspecified monetary penalties regarding the mortgage securities, which date back to 2006 and 2007. The lawsuit would be among the last actions over misconduct in the sale and pooling of mortgage securities which helped to cause the financial
UBS expects to be sued by US Justice Department over crisis-era mortgage securities Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: fabrice coffrini, afp, getty images
Keywords: news, cnbc, companies, justice, sued, group, expects, sale, sought, bank, ubs, law, mortgage, department, crisisera, settled, securities


UBS expects to be sued by US Justice Department over crisis-era mortgage securities

UBS Group, Switzerland’s largest bank, said it expects to be sued by the U.S. Department of Justice as early as Thursday on civil charges related to the sale of mortgage-backed securities in the run-up to the 2008-2009 financial crisis, according to a company statement.

The bank said the claims were not supported by the facts or the law and it would contest any such complaint “vigorously.”

The U.S. Department of Justice did not immediately respond to a request for comment.

UBS said it had been advised by the Justice Department that the law enforcement agency intends to file the civil complaint.

It anticipates the Justice Department will seek unspecified monetary penalties regarding the mortgage securities, which date back to 2006 and 2007.

The lawsuit would be among the last actions over misconduct in the sale and pooling of mortgage securities which helped to cause the financial crisis.

The Department of Justice has settled similar claims with Citigroup, Deutsche Bank, JPMorgan Chase, Credit Suisse Group, Morgan Stanley, Goldman Sachs, Bank of America and Barclays.

Barclays settled for $2 billion in March after resisting a penalty the U.S. government sought near the end of the Obama administration in 2016. Justice had sought a much higher fine at the time and, when the two sides could not come to terms, the department filed a lawsuit.

More recently, HSBC Holdings agreed to pay $765 million last month to settle with the Justice Department over its sale of defective mortgage securities before the crisis, while major player Royal Bank of Scotland Group reached a $4.9 billion deal in May.


Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: fabrice coffrini, afp, getty images
Keywords: news, cnbc, companies, justice, sued, group, expects, sale, sought, bank, ubs, law, mortgage, department, crisisera, settled, securities


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Twitter deleted more than 10,000 accounts that sought to discourage voting

Twitter deleted more than 10,000 automated accounts posting messages that discouraged people from voting in Tuesday’s U.S. election and wrongly appeared to be from Democrats, after the party flagged the misleading tweets to the social media company. “We took action on relevant accounts and activity on Twitter,” a Twitter spokesman said in an email. The removals took place in late September and early October. The number of accounts removed is modest, considering that Twitter has previously delete


Twitter deleted more than 10,000 automated accounts posting messages that discouraged people from voting in Tuesday’s U.S. election and wrongly appeared to be from Democrats, after the party flagged the misleading tweets to the social media company. “We took action on relevant accounts and activity on Twitter,” a Twitter spokesman said in an email. The removals took place in late September and early October. The number of accounts removed is modest, considering that Twitter has previously delete
Twitter deleted more than 10,000 accounts that sought to discourage voting Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-02  Authors: chris wattie
Keywords: news, cnbc, companies, sought, accounts, twitter, presidential, media, discourage, effort, deleted, took, 10000, voting, millions, removals, party, social


Twitter deleted more than 10,000 accounts that sought to discourage voting

Twitter deleted more than 10,000 automated accounts posting messages that discouraged people from voting in Tuesday’s U.S. election and wrongly appeared to be from Democrats, after the party flagged the misleading tweets to the social media company.

“We took action on relevant accounts and activity on Twitter,” a Twitter spokesman said in an email. The removals took place in late September and early October.

The number of accounts removed is modest, considering that Twitter has previously deleted millions of accounts it determined were responsible for spreading misinformation in the 2016 U.S. presidential election.

Yet the removals represent an early win for a fledgling effort by the Democratic Congressional Campaign Committee, or DCCC, a party group that supports Democrats running for the U.S. House of Representatives.

The DCCC launched the effort this year in response to the party’s inability to respond to millions of accounts on Twitter and other social media platforms that spread negative and false information about Democratic presidential candidate Hillary Clinton and other party candidates in 2016, three people familiar with the operation told Reuters.


Company: cnbc, Activity: cnbc, Date: 2018-11-02  Authors: chris wattie
Keywords: news, cnbc, companies, sought, accounts, twitter, presidential, media, discourage, effort, deleted, took, 10000, voting, millions, removals, party, social


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Republican operative who sought Clinton emails had ties to Michael Flynn going back to 2015: Report

Mueller’s prosecutors are interested in whether anyone in Trump’s orbit assisted Smith in his search for Clinton’s emails, according to the Journal. He was found dead in a hotel in Minnesota days after telling The Wall Street Journal in an interview that he had been seeking Clinton’s emails from Russian hackers. Trump himself repeatedly suggested during the 2016 election that the emails Clinton’s attorneys deleted from her private server contained incriminating information. In a press conference


Mueller’s prosecutors are interested in whether anyone in Trump’s orbit assisted Smith in his search for Clinton’s emails, according to the Journal. He was found dead in a hotel in Minnesota days after telling The Wall Street Journal in an interview that he had been seeking Clinton’s emails from Russian hackers. Trump himself repeatedly suggested during the 2016 election that the emails Clinton’s attorneys deleted from her private server contained incriminating information. In a press conference
Republican operative who sought Clinton emails had ties to Michael Flynn going back to 2015: Report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: tucker higgins, mark wilson, getty images
Keywords: news, cnbc, companies, sought, hackers, operative, ties, server, michael, emails, smith, clintons, search, report, flynn, going, clinton, journal, youre, smiths, russian, republican


Republican operative who sought Clinton emails had ties to Michael Flynn going back to 2015: Report

Mueller’s prosecutors are interested in whether anyone in Trump’s orbit assisted Smith in his search for Clinton’s emails, according to the Journal. One witness familiar with his search was called before a grand jury, the paper reported. And a grand jury subpoena sought out documents related to Smith’s hunt.

The quest for Clinton’s emails drew Smith to the anti-secrecy organization Wikileaks, an anti-secrecy group which U.S. investigators have said was used by Russian intelligence services to disrupt the presidential election. The Journal said that in a December 2016 email, Smith told supporters that he had found “multiple individuals” who possessed Clinton’s emails, and directed at least one of them to provide those emails to Wikileaks.

The nature of Smith’s death has raised some suspicion.

He was found dead in a hotel in Minnesota days after telling The Wall Street Journal in an interview that he had been seeking Clinton’s emails from Russian hackers. A suicide note found near him said: “NO FOUL PLAY WHATSOEVER.”

The reporter who interviewed Smith later wrote in a tweet that he saw “no indication that he was ill or planning to take his own life.” In June, it was made public via a court filing that Kathryn Rakoczy, an attorney known for her work in violent crimes cases, had joined the Mueller probe.

Trump himself repeatedly suggested during the 2016 election that the emails Clinton’s attorneys deleted from her private server contained incriminating information. In a press conference in July of that year, the president appealed to Russian hackers to make the emails public.

“Russia, if you’re listening, I hope you’re able to find the 30,000 emails that are missing,” Trump said at the time.

This summer, Mueller’s investigators obtained an indictment against 12 Russian hackers that accused them of attempting to break into Clinton’s personal server for the first time that same day.

WATCH: What you need to know about Comey’s memos


Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: tucker higgins, mark wilson, getty images
Keywords: news, cnbc, companies, sought, hackers, operative, ties, server, michael, emails, smith, clintons, search, report, flynn, going, clinton, journal, youre, smiths, russian, republican


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Fed hikes interest rates, raises its economic outlook and drops ‘accommodative’ language

As widely anticipated, the policymaking Federal Open Market Committee increased the fed funds rate 25 basis points. This is the eighth increase since the Fed began normalizing policy in December 2015. The funds rate serves as the baseline for multiple forms of consumer debt as well as savings accounts and CD rates. The funds rate increase will be felt immediately in the prime rate and increase credit card charges, but its impact in other areas usually is more incremental. Along with the rate inc


As widely anticipated, the policymaking Federal Open Market Committee increased the fed funds rate 25 basis points. This is the eighth increase since the Fed began normalizing policy in December 2015. The funds rate serves as the baseline for multiple forms of consumer debt as well as savings accounts and CD rates. The funds rate increase will be felt immediately in the prime rate and increase credit card charges, but its impact in other areas usually is more incremental. Along with the rate inc
Fed hikes interest rates, raises its economic outlook and drops ‘accommodative’ language Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-26  Authors: jeff cox, mary f calvert, chris wattie
Keywords: news, cnbc, companies, fed, rates, zero, raises, policy, accommodative, drops, rate, economic, hikes, funds, sought, language, federal, 2008, outlook, interest, increase, began


Fed hikes interest rates, raises its economic outlook and drops 'accommodative' language

The Federal Reserve hiked its benchmark interest rate a quarter point Wednesday, upped its anticipation for economic growth this year and next, and provided a road map of what lies ahead through 2021.

As widely anticipated, the policymaking Federal Open Market Committee increased the fed funds rate 25 basis points. That now takes the rate to a range of 2 percent to 2.25 percent, where it last was in April 2008. This is the eighth increase since the Fed began normalizing policy in December 2015.

The funds rate serves as the baseline for multiple forms of consumer debt as well as savings accounts and CD rates. The funds rate increase will be felt immediately in the prime rate and increase credit card charges, but its impact in other areas usually is more incremental.

Along with the rate increase, the FOMC continued to project one more hike before the end of the year and three in 2019.

The Fed had kept its target rate anchored near zero from December 2008 until this hiking cycle began as it sought to bring the economy out of the financial crisis slump. Since then, the central bank has sought to normalize policy through consistent but gradual increases.


Company: cnbc, Activity: cnbc, Date: 2018-09-26  Authors: jeff cox, mary f calvert, chris wattie
Keywords: news, cnbc, companies, fed, rates, zero, raises, policy, accommodative, drops, rate, economic, hikes, funds, sought, language, federal, 2008, outlook, interest, increase, began


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Judge cold to idea of gag order on Michael Avenatti sought by Cohen

Lanny Davis, a lawyer representing Cohen in connection with a pending federal criminal probe in New York City, had no immediate comment when contacted by CNBC. Otero suggested Cohen’s lawyer Brent Blakely did not fully appreciate the significance of asking him to suppress the right of Avenatti to speak publicly. And the judge said Blakely had so far “failed” to make a convincing case for the requested gag. Proceedings in the case have been suspended because of the existence of the criminal inves


Lanny Davis, a lawyer representing Cohen in connection with a pending federal criminal probe in New York City, had no immediate comment when contacted by CNBC. Otero suggested Cohen’s lawyer Brent Blakely did not fully appreciate the significance of asking him to suppress the right of Avenatti to speak publicly. And the judge said Blakely had so far “failed” to make a convincing case for the requested gag. Proceedings in the case have been suspended because of the existence of the criminal inves
Judge cold to idea of gag order on Michael Avenatti sought by Cohen Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-27  Authors: dan mangan, jeff daniels
Keywords: news, cnbc, companies, cold, cohen, idea, judge, order, michael, gag, avenatti, lawyer, proven, otero, daniels, trump, blakely, sought, giuliani, case


Judge cold to idea of gag order on Michael Avenatti sought by Cohen

Porn Star Stormy Daniels arrested while performing in Ohio strip club 11:50 AM ET Thu, 12 July 2018 | 00:55

Avenatti said those talks ended last Sunday after “it became clear to me that Michael Cohen was attempting to play a game.”

Lanny Davis, a lawyer representing Cohen in connection with a pending federal criminal probe in New York City, had no immediate comment when contacted by CNBC.

Avenatti declined to answer questions about the three other women he says are linked to Trump.

Avenatti said he was awaiting permission from those women to disclose details about their cases.

Otero, during the hearing, seemed sympathetic to Avenatti’s arguments that gagging him in the case would be unfair and absurd given the fact that Trump continues to tweet about Cohen and Trump’s current lawyer Rudy Giuliani frequently comments to media outlets about Cohen and Daniels.

Otero suggested Cohen’s lawyer Brent Blakely did not fully appreciate the significance of asking him to suppress the right of Avenatti to speak publicly.

Referring to Americans’ rights of free speech under the Constitution, Otero noted that “those are the most sacred of rights.”

Blakely, in asking for the gag on Avenatti, cited the hundreds of Twitter posts made by Daniels’ lawyer, as well as his steady stream of media appearances

“You look at the conduct — it’s unprecedented,” Blakely said.

“At what point does he stop. When does this court say enough is enough.”

But Otero, noting Giuliani’s recent public condemnations of Cohen for having secretly recorded Trump talking about paying hush money for another alleged mistress, said, “Irony doesn’t escape me.”

And the judge said Blakely had so far “failed” to make a convincing case for the requested gag.

In addition to holding off on ruling on the gag order request, Otero did not rule on Avenatti’s request that the case resume after being put on hold for the past three months.

Proceedings in the case have been suspended because of the existence of the criminal investigation of Cohen in New York.

That probe, Cohen has argued, would prevent him from being able to answer questions fully under oath in Daniels’ lawsuit in California.

At his news conference outside of court, Avenatti said he was eager for the stay in the case to be lifted.

“We do not want this case delayed for months or years on end,” he said. “It’s time to get on with it.”

Avenatti also took a shot at Giuliani, who on Thursday night had told CNN that Cohen is “a proven liar,”

“There’s no way you’re going to bring down the president of the United States on the testimony uncorroborated of a proven liar. I guarantee you this guy is a proven liar,” Giuliani had said.

The former New York City mayor was referring to a report that Cohen was willing to tell special counsel Robert Mueller, who is investigating the Trump campaign for possible collusion with Russians interfering in the presidential election, that Trump had known in advance about a planned Trump Tower meeting with campaign officials and Russians who had offered negative information about Hillary Clinton.

Avenatti said of Giuliani: “This guy is an absolute train wreck of a lawyer.”

“In fact, I think he’s the best lawyer we have working for us in the case,” Avenatti added.


Company: cnbc, Activity: cnbc, Date: 2018-07-27  Authors: dan mangan, jeff daniels
Keywords: news, cnbc, companies, cold, cohen, idea, judge, order, michael, gag, avenatti, lawyer, proven, otero, daniels, trump, blakely, sought, giuliani, case


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Judge denies Trump administration’s bid to block California’s immigrant sanctuary laws

A federal judge rejected the U.S. Justice Department’s request to block California’s”sanctuary laws” protecting undocumented immigrants, handing a defeat to the Trump administration on one of its signature issues. But the judge also temporarily barred a law that had required employers to restrict federal immigration officials’ access to workplaces. Mendez in his decision wrote that the federal government failed to establish that California’s sanctuary laws sought to intentionally obstruct agains


A federal judge rejected the U.S. Justice Department’s request to block California’s”sanctuary laws” protecting undocumented immigrants, handing a defeat to the Trump administration on one of its signature issues. But the judge also temporarily barred a law that had required employers to restrict federal immigration officials’ access to workplaces. Mendez in his decision wrote that the federal government failed to establish that California’s sanctuary laws sought to intentionally obstruct agains
Judge denies Trump administration’s bid to block California’s immigrant sanctuary laws Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-26  Authors: dan mangan, jeff daniels, nicholas kamm, afp, getty images
Keywords: news, cnbc, companies, federal, immigration, bid, californias, sought, state, trump, block, judge, immigrant, officials, wrote, denies, administrations, mendez, sanctuary, rulings, laws


Judge denies Trump administration's bid to block California's immigrant sanctuary laws

A federal judge rejected the U.S. Justice Department’s request to block California’s”sanctuary laws” protecting undocumented immigrants, handing a defeat to the Trump administration on one of its signature issues. But the judge also temporarily barred a law that had required employers to restrict federal immigration officials’ access to workplaces.

The rulings were issued Wednesday by U.S. District Judge John Mendez in Sacramento, and were made public Thursday.

Mendez’s rulings were in response to a preliminary injunction sought by the Justice Department, which sued the state over the laws.

The rulings do not decide the final question of the controversial laws’ legalilty.

Mendez in his decision wrote that the federal government failed to establish that California’s sanctuary laws sought to intentionally obstruct against enforcement of federal immigration laws.

However, Mendez did say the state could no longer compel businesses, under the law known as AB 450, to prevent immigration officials from accessing a workplace and employment records without first obtaining a search warrant or a subpoena. Businesses, however, are free to insist on those conditions.

At the same time, the judge said he “joins the ever-growing chorus of Federal Judges in urging our elected officials to set aside the partisan and polarizing politics dominating the current immigration debate” and work together to draft laws “that addresses this critical political issues.”

“Our Nation deserves it,” Mendez wrote. “Our Constitution demands it.”

California’s governor, Jerry Brown, said in a statement: “I agree with Judge Mendez that piecemeal judicial decisions won’t solve the nation’s immigration challenges. Only Congress can chart the path forward by rising above mindless, partisan divisions and working together to solve this problem, not exacerbate it.”


Company: cnbc, Activity: cnbc, Date: 2018-06-26  Authors: dan mangan, jeff daniels, nicholas kamm, afp, getty images
Keywords: news, cnbc, companies, federal, immigration, bid, californias, sought, state, trump, block, judge, immigrant, officials, wrote, denies, administrations, mendez, sanctuary, rulings, laws


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‘Oil is not a weapon’: Iran’s energy minister urges OPEC to condemn President Trump

President Donald Trump’s attempt to politicize the oil market should be castigated by OPEC, according to Iran’s energy minister. “OPEC is not a political organization and I believe it is necessary for OPEC to support this idea that the market should be depoliticized and condemn any use of oil as a weapon or as a tool against some countries,” he added. Trump, perhaps wary of the average U.S. gasoline price hovering near $3 a gallon, has sought to hold OPEC accountable for a recent upswing in oil


President Donald Trump’s attempt to politicize the oil market should be castigated by OPEC, according to Iran’s energy minister. “OPEC is not a political organization and I believe it is necessary for OPEC to support this idea that the market should be depoliticized and condemn any use of oil as a weapon or as a tool against some countries,” he added. Trump, perhaps wary of the average U.S. gasoline price hovering near $3 a gallon, has sought to hold OPEC accountable for a recent upswing in oil
‘Oil is not a weapon’: Iran’s energy minister urges OPEC to condemn President Trump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-20  Authors: sam meredith, heinz-peter bader
Keywords: news, cnbc, companies, condemn, weapon, urges, oil, energy, zanganeh, producers, tool, president, opec, irans, market, sought, trump, minister


'Oil is not a weapon': Iran's energy minister urges OPEC to condemn President Trump

President Donald Trump’s attempt to politicize the oil market should be castigated by OPEC, according to Iran’s energy minister.

The U.S. president has sought to publicly intervene in OPEC’s policymaking ahead of a key meeting for the 14-member oil cartel on Friday, complaining in a pair of tweets that the Middle-East-dominated group is to blame for crude prices recently soaring to multi-year highs.

“Oil is not a weapon — it is not a political tool to be used against some countries, producers or consumers,” Iranian Oil Minister Bijan Zanganeh told reporters on Tuesday in Vienna, Austria where OPEC and non-OPEC producers, including Russia, are due to meet this week.

“OPEC is not a political organization and I believe it is necessary for OPEC to support this idea that the market should be depoliticized and condemn any use of oil as a weapon or as a tool against some countries,” he added.

Trump, perhaps wary of the average U.S. gasoline price hovering near $3 a gallon, has sought to hold OPEC accountable for a recent upswing in oil prices.

However, Zanganeh said it was Trump who had created difficulty for the oil market by imposing sanctions against Iran and Venezuela yet he now expects OPEC to deal with the consequences by pumping more.

“President Trump thinks that [he] can order OPEC and instruct to OPEC to do something… It’s not fair, I think, and OPEC is not a part of the Department of Energy of the United States,” Zanganeh said.


Company: cnbc, Activity: cnbc, Date: 2018-06-20  Authors: sam meredith, heinz-peter bader
Keywords: news, cnbc, companies, condemn, weapon, urges, oil, energy, zanganeh, producers, tool, president, opec, irans, market, sought, trump, minister


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US judge challenges federal government’s claim California sought to stymie immigration enforcement

A U.S. judge raised doubts Wednesday about the Trump administration’s claim that California sought to intentionally obstruct against enforcement of federal immigration laws. During the hearing, Mendez said he wasn’t convinced California lawmakers had passed the sanctuary statutes to hinder federal immigration enforcement efforts. The federal government claims the sanctuary laws in California “have interfered, and will continue to interfere, with federal law enforcement efforts,” including activi


A U.S. judge raised doubts Wednesday about the Trump administration’s claim that California sought to intentionally obstruct against enforcement of federal immigration laws. During the hearing, Mendez said he wasn’t convinced California lawmakers had passed the sanctuary statutes to hinder federal immigration enforcement efforts. The federal government claims the sanctuary laws in California “have interfered, and will continue to interfere, with federal law enforcement efforts,” including activi
US judge challenges federal government’s claim California sought to stymie immigration enforcement Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-20  Authors: jeff daniels, rich pedroncelli
Keywords: news, cnbc, companies, governments, enforcement, trump, sanctuary, federal, immigration, state, sought, judge, claim, challenges, laws, stymie, hearing, california


US judge challenges federal government's claim California sought to stymie immigration enforcement

A U.S. judge raised doubts Wednesday about the Trump administration’s claim that California sought to intentionally obstruct against enforcement of federal immigration laws.

U.S. District Judge John Mendez made the comments during a hearing in Sacramento on the federal government’s request to halt three of California’s so-called sanctuary laws. The hearing lasted more than six hours and ended with no formal decision on the government’s request for a preliminary injunction.

The judge said he planned to issue a written opinion on the preliminary injunction as soon as possible.

During the hearing, Mendez said he wasn’t convinced California lawmakers had passed the sanctuary statutes to hinder federal immigration enforcement efforts. The federal government is seeking to block three of the state’s sanctuary laws, including one that applies to federal detention facilities where immigrants are being held.

Hundreds of protesters were outside the federal courthouse in Sacramento on Wednesday as the judge heard arguments.

Chad Readler, a U.S. Department of Justice attorney, told Mendez it was clear that the state had passed the sanctuary laws last year to halt immigration enforcement. But the judge, a 2007 appointee of President George W. Bush, responded: “I’m not that clear and that convinced.”

Mendez said he took the passage of the sanctuary laws as a sign the state didn’t want to participate in the U.S. government’s immigration policies. California is home to about 25 percent of the nation’s undocumented population.

Angela Chan, the policy director at the Asian Law Caucus in San Francisco, said the judge during the hearing seemed to be leaning toward the view that “you can’t mandate state cooperation. It was the heart of what was driving a lot of his questions.”

The federal government claims the sanctuary laws in California “have interfered, and will continue to interfere, with federal law enforcement efforts,” including activities involving U.S. Immigration and Customs Enforcement agents.

Even so, there have been more than 650 arrests since March in California of undocumented immigrants.

Attorneys for California have contended that the sanctuary policies help build trust, and they support relations between police agencies and immigrant communities.

Wednesday’s hearing came as President Donald Trump faced widespread criticism from Democrats and some Republicans for the administration’s “zero tolerance” immigration policy, including its recent practice of separating children from migrant families. On Wednesday, Trump reversed himself and signed an executive order allowing detained migrant parents to remain with their children.

Among the protesters outside the federal courthouse Wednesday were critics of the administration’s policy of separating migrant families and Trump’s border wall. Some held up signs that read “Keep Families Together” and “Family Separation is UnAmerican.”

There were also pro-Trump supporters outside the courthouse.

In March, the DOJ filed a lawsuit against California’s sanctuary laws, including challenging state Senate Bill 54, formally known as the California Values Act, that went into effect in January. That law bars local authorities from asking about the immigration status of people during routine interactions or participating in federal enforcement actions.

Wednesday’s hearing also was for arguments in California’s motion to dismiss the lawsuit.

“California’s laws work in concert — not conflict — with federal laws and are fully constitutional,” California Attorney General Xavier Becerra said in a statement last month in announcing the motion to dismiss the federal lawsuit.

Added Becerra, “The 10th Amendment of the Constitution gives the people of California, not the Trump administration, the power to decide how we will provide for the public safety and general welfare of our state. The federal government has no grounds to intrude on California’s constitutional authority to enact laws designed to protect its people.”

Critics of SB 54 contend it jeopardizes public safety because it made it tougher to get incarcerated immigrants once they are released from jails to the custody of federal immigration agents. They say it can result in violent criminals getting released back into communities.

The administration’s motion for preliminary injunction involves SB 54 as well as two other state sanctuary laws, including Assembly Bill 450, or the Immigrant Worker Protection Act, that went into effect in January and limits the ability of employers to cooperate with federal immigration authorities.

Becerra has warned businesses they could face fines of $10,000 for violating the AB 450.

AB 450 requires employers to notify all employees of inspections of their employment records by U.S. immigration agencies within 72 hours of receiving notice of a federal audit. It also bars businesses from providing immigration agents access to a workplace without a warrant and requires a subpoena for federal agents to access employment records.

Critics contend AB 450 can be confusing for employers and also has scared away workers. The state’s Chamber of Commerce last year came out opposing the legislation and said it “puts employers in a no-win situation between federal immigration enforcement and state enforcement.”

“The statute really puts the employer between a rock and a hard place,” the judge said Wednesday.

However, state attorneys pointed out there are places in the federal statute that allows businesses to cooperate without violating the state law.

The government’s request for a preliminary injunction only applies to three of 25 provisions of SB 54 law. It applies to the sharing of release dates for incarcerated immigrants, sharing of home and work addresses, as well as allowing the transfer of inmates into the custody of U.S. immigration authorities.

There’s also Assembly Bill 103, dubbed the Detention Review law, which took effect in June 2017. It imposes limits on local jurisdictions establishing, modifying or renewing contracts involving locked detention facilities used to house or detain noncitizens for purposes of civil immigration custody. It also applies to federal detention facilities where undocumented immigrants are being held.

During the hearing, Readler said states have no place being involved as inspector of federal facilities such as those housing immigrants.

In recent months, there’s been a backlash over the sanctuary policies from local jurisdictions up and down the state. Some of the same local jurisdictions have filed briefs in support of the Trump administration’s lawsuit against the state.

Several counties — including San Diego, Orange and Tuolumne — as well as more than two dozen cities have come out against sanctuary laws. Last month, Trump invited a group of local officials from California fighting the state’s sanctuary policies to a White House roundtable on immigration.

Some of the same local jurisdictions in California also have filed friend of the court briefs in support of the Trump administration’s lawsuit against the state. California also has at least two dozen cities and counties that have filed briefs supporting the state’s side.

— The Associated Press contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-06-20  Authors: jeff daniels, rich pedroncelli
Keywords: news, cnbc, companies, governments, enforcement, trump, sanctuary, federal, immigration, state, sought, judge, claim, challenges, laws, stymie, hearing, california


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