2016 12 18 20 13 07
Regulators listen to community banks, change residential mortgage rules
Thanks to an outcry from 2,500 community banks and trade associations across the nation, regulators – in a rare move – agreed to change the rules that will ultimately impact the type of residential mortgages banks are able to offer, their capital levels and how they weigh the risk of the assets on their…
Read MoreMore health providers drop out of Illinois’ exchange, state argues competition still exists
As the deadline looms when Illinois’ insurance exchange must be up and running under the Affordable Care Act, Illinois continues to see an exit of major health insurance providers. Although Illinois recently predicted as many as 16 carriers would be participating in its health insurance exchange, as of press time that number had dwindled…
Read MoreEngineering Round-Up
The Patriot Act, not your credit score, could be what’s holding up your mortgage loan app
When Congress passed the Patriot Act in late 2001, many Americans agreed it was a good idea. The legislation was written to identify foreign and domestic terrorists by tracking the movements of those funding them. As a result, most of the Act’s new regulatory powers were given to the U.S. Dept. of the Treasury.…
Read MoreDysfunctional government is the greatest threat to our future
It seems these days we are beset and besieged by a host of difficult problems, both on the state and national level. One might, in fact, have a difficult time just choosing what our biggest challenge is. Consider the following. Our economy is still not fully recovered from the Great Recession. Unemployment remains high…
Read MoreQ&A with Jay Rowell, Director, Illinois Dept. of Employment Security
IBJ: Since you became the ninth director of the Illinois Dept. of Employment Security in June 2011, you’ve been working hard to position IDES as an employment agency rather than an unemployment services office. How is that going? Rowell: We’re really remaking ourselves. It’s a challenge, but we’re making solid progress and we’re uniquely positioned…
Read MoreHuman-Powered Vehicles Can Drive Meaningful Change
Each year, at locations around the globe, teams of mechanical engineering students gather to demonstrate and race vehicles they have designed. The vehicles negotiate tight turns, slaloms, rough pavement and grocery stops. Peak speeds are often around 45 mph. The men and women designing and competing bring new ideas and innovations each year. And…
Read MoreFederal Reserve study discovers young, less educated homeowner families hit hardest by recession
Over the past 10 years, U.S. homeowners collectively experienced the very highest highs and the very lowest lows of home ownership, according to experts from the Federal Reserve Bank of St. Louis. The two – Ray Boshara, a senior adviser at the Fed’s Center for Household Financial Stability – and William Emmons – chief…
Read MoreIllinois Democrats moving to put graduated income tax amendment on 2014 ballot
Toward the end of this year’s legislative session, two bills were introduced – one in the Illinois House and one in the Senate – that were largely overlooked. The bills, SJRCA 40 and HJRCA 33, seek to change the Illinois Constitution to impose a graduated income tax on both personal and corporate income. More…
Read MorePOINT: PRESIDENT’S CLIMATE CHANGE PROPOSAL & COAL President has both duty and authority to act on climate change threat if Congress won’t
It is getting harder and harder to ignore the freakish and downright dangerous weather swirling around every part of the globe, giving firm evidence that climate change is already making a mess of things for us all. In addition to floods and droughts, it’s getting hotter, with last year standing as the hottest year…
Read More