Nassau Police Detective Killed in Crash

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A Nassau County police detective was killed in an early-morning crash Wednesday when his crossover SUV crashed into a tractor trailer as he was exiting the Northern State Parkway in Carle Place, police said.Nassau police identified the detective as Alfred Samaniego. The police department did not release Samangiego’s age or say how long he was on the force.Homicide detectives said Samaniego was exiting the Northern State Parkway on the westbound Glen Cove Road ramp just before 1 a.m. when the 2011 GMC Acadia Denali he was driving crossed over the northbound lanes and struck a U.S. mail tractor trailer driving southbound.Samaniego was pronounced dead at the scene, police said.“The Nassau County Police Department regretfully announces the victim in this Fatal Vehicular Accident has been identified as Nassau County Detective Alfred A. Samaniego,” Nassau County police Deputy Inspector Kenneth Lack said in a statement.Police said the investigation is continuing.The driver of the tractor trailer was not injured, police said.last_img read more

Long Island Projects Win $83 million in State Aid

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York The spirit of giving was in the air last week in Albany when Gov. Andrew Cuomo announced the winners of the third round of his Regional Economic Development Council initiative—and Long Island came out on top with $83 million to be shared among 98 local projects.Since the program began in 2011, Cuomo has awarded $244 million to the Long Island Regional Economic Development Council, which competes with regions across the state for these special grants tailor-made to “create jobs and support economic growth,” as the governor’s press office put it.“We are transforming New York State into a top destination for companies from around the world to locate, invest and grow,” Cuomo said. “These efforts have allowed the regional councils for the last three years to pursue economic development projects on the ground across the state, from creating new technologies and supporting innovation to building hospitals and tourism destinations that will further our economic growth.”The Long Island Regional Economic Development Council is co-chaired by Hofstra University President Stuart Rabinowitz and Long Island Association President and CEO Kevin Law, who noted that the $83 million allocation “was the highest amount of funding awarded to any of the 10 regional councils” created in New York by the governor.“These Round Three funds will help implement a number of exciting, job-generating projects to improve Long Island’s economy,” he told the Press in a statement, “including a cancer therapeutic discovery center at Cold Spring Harbor Laboratory, a Stony Brook University high-tech discovery center, which can capitalize on the new Start-Up NY program, [as well as] matching grants for small manufacturing companies, regionally significant development projects in Glen Cove, Yaphank and Wyandanch, as well as funds to support our agricultural and commercial fishery industries and the arts.”The influx of state money is welcome news to David Calone, president and CEO of Jove Equity Partners, and an influential investor in the creation of early stage companies on Long Island through the LI Emerging Technologies Fund and Accelerate Long Island. He said the latest round of awards will help foster “the infrastructure of our entrepreneurial ecosystem” because “the industries of tomorrow are in the laboratories of today.”The biggest share of the money earmarked for LI was the $3.6 million given to C&S Wholesale Grocers, which is planning to build a new automated warehouse in Suffolk for $130 million and ultimately employ 400 people, according to the LIREDC. C&S, which supplies Waldbaums, Pathmark and Stop & Shop stores, had closed its Central Islip warehouse several years ago.Cold Spring Harbor Laboratory and Stony Brook University each got $2 million in economic development funding for their projects. Brookhaven National Laboratory and Hofstra University got $2 million to get new high performance computing equipment. Hofstra, in particular, is planning a new robotics program at its School of Engineering.The Enterprise Park in Calverton, known as EPCAL, got $1.3 million to upgrade its sewage treatment plant. Wyandanch Rising received $1 million for its infrastructure upgrades. Other highlights include $2.5 million to construct a road connecting Glen Cove’s downtown and waterfront, $1.5 million for a rapid bus project in Suffolk County and $1.35 million for Long Island Compost’s expansion.last_img read more

Train Hits, Kills Person in Syosset

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A person was fatally hit by a westbound Long Island Rail Road train east of the Syosset station at the start of the Tuesday morning rush-hour commute.The victim was struck and killed shortly after 5 a.m. by 4:55 a.m. train from Port Jefferson due in Hunterspoint Avenue at 6:37 a.m., according to the Metropolitan Transportation Authority.Service was suspended in both directions between Huntington and Hicksville on the Port Jefferson Branch for several hours before being restored at the end of the peak rush.MTA police are investigating the cause of the incident, which came one day after another person was struck by a train in Wyandanch.last_img read more

Kings Park Woman Killed in Crash

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A 49-year-old woman was killed after she crashed her car in her hometown of Kings Park on Wednesday evening.Suffolk County police said Anna Devecchis was driving a Nissan Rogue westbound on Route 25A when her vehicle veered off the roadway and struck a tree at 6:20 p.m.The victim was airlifted to Stony Brook University Hospital, where she was pronounced dead.Fourth Squad detectives impounded the vehicle, are continuing the investigation and ask anyone with information on the crash to call them at 631-854-8452.last_img read more

2015-16 NAFCU Board officers named

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr NAFCU announced the newly elected and continuing members of its 2015-2016 Board of Directors during the association’s annual business meeting yesterday, which was held in conjunction with NAFCU’s 48th Annual Conference and Solutions Expo in Montreal.Reelected to serve as officers for the 2015-16 term were Ed Templeton, president and CEO of SRP Federal Credit Union in North Augusta, S.C., as chair; Richard Harris, president and CEO of Caltech Employees Federal Credit Union in La Canada, Calif., as vice chair; Jeanne Kucey, president and CEO of JetStream Federal Credit Union in Miami Lakes, Fla., as treasurer; and Debra Schwartz, president and CEO of Mission Federal Credit Union in San Diego, Calif., as secretary.Schwartz won reelection to an at-large post in this year’s board elections. Joining the board this year are Gary Easterling, president and CEO of United Federal Credit Union (St. Joseph, Mich.), who was elected as Region I director; and Robert Fisher, president and CEO of Grow Financial Federal Credit Union (Tampa, Fla.), who was elected as an at-large director. All three were elected to three-year terms.“I look forward to working with NAFCU’s officers and board members in continuing to help the association and its members grow by providing the best in federal advocacy, education and compliance assistance,” said Templeton. continue reading »last_img read more

John Boehner’s resignation creates another bout of economic uncertainty

first_imgCongressionally induced uncertainty is back.The announcement this morning that Speaker of the House John Boehner (R., Ohio) will resign from Congress at the end of next month complicates the difficult debates in Congress over how to keep the government open and raise the debt ceiling.The government’s current funding expires on Sept. 30 and some members of Congress want to use the debate over the budget as leverage to strip federal government funding from the women’s health organization Planned Parenthood. As the leader of the House Republicans, Mr. Boehner was a key player in pushing to keep the government open, having made clear that he does not want to shut down the government again.The political fallout from his resignation remains to be seen, but it’s safe to say that the uncertainty is back.Congress has repeatedly struggled to reach clean agreements on key fiscal issues in recent years. In 2011 the Treasury came within days of running out of funds. This led to a downgrade of the U.S. triple-A credit rating from Standard & Poor’s. In October of 2013, the government shut down for over two weeks after Congress failed to reach an agreement on keeping it open. continue reading » 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Money and millennials

first_img 20SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr “Millennials are perfectly positioned to grow a lot of wealth and perhaps retire early—or to make big financial mistakes that they might regret for decades,” according to The Motley Fool.The article cites the three worst money habits of millennials: Failure to save for retirement, burdensome student loan debt, and excessive credit card debt.“Millennials… [have] decades ahead of them in which they can work and save money in order to make their futures financially secure and comfortable. It’s important to not make game-changing mistakes along the way, though,” the article notes.This week, an investigation of investment choices and other financial decisions millennials make.How do these financial preferences and tendencies impact future security for this group? Are they making game-changing mistakes or sound decisions? continue reading »last_img read more

Business lending: Benefits and value proposition for credit unions

first_img 17SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Blake Marsh Blake Marsh, VCOO of Member Lending with MBL, has been in the lending industry his entire career. He has experience in underwriting, processing, closing, and servicing of SBA and commercial … Web: Details As competition for business lending from traditional and nontraditional sources continues to heat up, credit unions with an eye towards the future turn increasingly towards using a qualified Credit Union Service Organization (CUSO) to help with their member business lending needs. When implemented correctly, the partnership between the credit union and its CUSO can generate tremendous benefit and value for both the credit union and the members it serves.While there are many ways to measure the value of a CUSO partnership for credit union, four main ideas are most relevant.Business lending offers growth opportunitiesIf your credit union does not currently offer business lending and business services to members, it’s really missing the boat. Many of your members are small business owners and in need of cash and guidance when it comes to successfully operating those businesses. Obviously, not every credit union has the expertise on staff to help guide members through the potentially confusing world of business lending (more on this later). By partnering with a CUSO, your credit union avails itself of significant potential growth opportunity by tapping into the needs of business owning members. And these business only members, once served by your credit union, are more likely to turn to you for help in the future and develop a successful and mutually beneficial business relationship.Sound policies and procedures are vital to a successful programAs mentioned above, business lending, particularly when it involves the Small Business Administration (SBA), is potentially confusing. The successful bedrock of any credit union member business lending and services program comes in sound policies and procedures. By teaming up with a CUSO and the wealth of experience they offer, your credit union now has quick access to existing and pre-proven policies and procedures to successfully implement its member business lending and business services program. Starting without this foundation is an invitation to fail.Product diversification is importantGone are the days when credit unions could rely on more conventional member loan products such as new and used vehicles, vehicle refinancing and even mortgages. To succeed in the new economy, credit unions must diversify their product offerings and reach out to the potentially rich member business lending and services market. By diversifying their offerings in this way, credit unions can build a more resilient product portfolio that is less dependent upon a handful of products and services. In this way, credit unions therefore also protect themselves from unforeseen future economic downturns and runaway regulation at the state and federal level.Proper staffing and backup plans are essentialAgain, a great deal of the success of a member business lending and services program comes down to the expertise of your staff. Many credit unions, for a variety of reasons, simply cannot afford to bring on staff with the high level of expertise required to administrate and implement successful member business lending and services programs. When they align themselves with a CUSO, however, credit unions are now partnered with precisely this type of staffing — specifically trained to handle member business lending in an expedited, efficient and courteous manner. Imagine the cost to your credit union if you chose to send one or several of your staff members through the schooling and training required to become truly proficient at member business lending. The cost-prohibitive nature of this, along with the staffing headaches involved, eloquently pointed to the amazing value proposition and benefits to credit unions of teaming up with a qualified CUSO.For more information CUSOs and how credit unions can realize the benefits of partnering with them, contact Blake Marsh at (866) 4MBLLLC or read more

CUNA backs HMDA reporting ‘stop and study’ bill

first_img 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Legislation that would delay the implementation of new Home Mortgage Disclosure Act (HMDA) requirements until their impact can be studied has the full support of CUNA. The Homeowner Information Privacy Protection Act (H.R. 4993) was introduced by Rep. Randy Hultgren (R-Ill.), and would delay implementation of the rules until the Government Accountability Office has completed a study on the data Consumer Financial Protection Bureau is requesting from lenders.“The Consumer Financial Protection Bureau recently finalized amendments to Regulation C that would significantly increase the amount of data mortgage lenders, including credit unions, will be required to provide,” wrote CUNA President/CEO Jim Nussle. “The rule will also almost certainly lead to mortgage credit and other credit union services being more expensive and possibly less available to our members, your constituents.”The CFPB’s new requirements include requiring credit unions that have originated 25 or more closed-end mortgage loans, or 100 or more open-end loans, to report dozens of data points in addition to what is required by Dodd-Frank, which calls for only 17.“When implemented, the final CFPB rule will impose significant burden on credit unions beyond what Congress envisioned when enacting the Dodd-Frank Act,” Nussle wrote. “Credit unions will undertake significant expense to bring their systems into compliance with a rule that does very little, if anything, to provide credit union members with additional protection.” continue reading »last_img read more

Protecting call centers from spoofed calls

first_imgCall centers are becoming increasingly more vulnerable to fraud. With the proliferation of stolen identity information available on the Dark Web and the ability to social engineer other validation information, fraudsters are increasing committing account takeover via IVR and direct contact with call center personnel.According to IDology’s 2015 Fraud Report, suspected call center fraud attempts rose from only 2% in 2014 to 13% in 2015. Additionally, fraudsters have access to technology that allows them to mask, or spoof, phone numbers enabling them to avoid caller ID or automated number identification (ANI) systems used in credit unions’ call centers today.Criminals always try to exploit the weakest link to attempt to gain access to accounts, reset passwords and more. Call centers can often provide this avenue to fraudsters allowing them to spoof a number and then social engineer their way into someone’s account.Having the proper tools to combat spoofing is essential to stopping call center fraud. Advanced call verification solutions go beyond number matching and verify if the displayed number is actually, in connection with call center.  This gives agents and fraud teams to identify spoofed numbers in real-time and reduce the chance of social engineering attacks – ultimately improving call center efficiency and security.Spoofed calls are also on the radar for fraud professionals. In 2015, Mercator Advisory Group interviewed fraud management executives at financial services institutions. In an executive brief sponsored by IDology, respondents noted that “Fraudsters are innovative, finding new tactics for gaining information to disguise their identities for financial gain by using event changes or new forms of spoofing, hacking or account takeover.”Additionally, IDology’s annual Fraud Report also found that suspected fraud attempts continue to climb – making it essential for credit unions to not only have the ability to spot potential spoofed calls for financial gain and account takeovers, but to also employ a fraud prevention platform that encompasses the many ways criminals try to gain access to credit unions members’ accounts.To download the complete IDology’s 2015 Fraud Report or the recently published executive brief focusing on the financial services industry, click here. 36SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,John Dancu John Dancu has served as President and CEO of IDology since 2005 and is recognized for his leading edge innovations in both the identity and fraud spaces. John has a … Web: Detailslast_img read more