Pexels Stock Image.ALBANY — A new report is foreshadowing potential revenues the state could see if lawmakers legalized recreational marijuana in New York.The Citizens Budget Commission’s report however says state leaders should be cautious about relying on those potential revenues to help close budget gaps.“What we’ve seen is that that takes generally over a year to get from legalization to a functioning commercial market. Those times have been trimmed quite a bit, frankly, as more states have implemented and states can draw on what has happened around the country. So about one year is reasonable there,” said Patrick Orecki, the report’s author.Orecki says once the commercial market is in operation, it takes time for people to start using dispensaries to buy products. “That generally takes about two to three years consistently for customers to move to those marketplaces and for those marketplaces to yield substantial tax revenues for the state,” furthered Orecki.He explained that in the past the Governor’s Administration has forecasted about $300 million in revenue from the legalization of recreational marijuana annually once established, but, it can be reliant on different factors like tax framework structure.“California is generating the most revenue of any state because of its size, especially, but it has experienced a lot slower maturation of that revenue source than some other states did,” explained Orecki. “They’ve had a fairly sticky illicit market where people are still just using the same channels that they use to purchase marijuana previously. So, every state’s experience is absolutely different in it.”Governor Andrew Cuomo has voiced support for legalizing recreational marijuana use.Earlier this month, he called it the “right policy” and said, “the state is going to be desperate for funding.”According to the Citizens Budget Commission, California brought in about $764,000,000 from recreational marijuana revenues from July 2019 to June 2020. Share:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to email this to a friend (Opens in new window)
By Dialogo May 11, 2009 Today the Appropriations Committee of the House of Representatives firmly approved a bill for additional costs for the current fiscal year, including US$470 million for the fight against drug trafficking in Mexico. The funds will be used to purchase surveillance aircraft, helicopters, and other resources, and represents an increase of about $120 million over the amount requested by the White House. During the debate on the measure, most of the Democrats insisted on the urgency of continued support for the Mexican government’s antinarcotics efforts, to prevent the spread of violence caused by drug cartels across the border to the US. Funds for Mexico in this bill will contribute to the purchase of three surveillance aircraft and four additional “Blackhawk” helicopters. United States approves funds for the fight against drug trafficking in Mexico The White House had requested a total of $350 million for Mexico and the southwest border, $66 million of which was for the purchase of three “Blackhawk” helicopters that were eliminated from the 2009 Merida Initiative budget. However, during a negotiation process legislators increased aid for Mexico and border surveillance to the new sum of $470 million. The bill for additional costs for the fiscal year 2009, which ends on September 30, total $94,200 million, or $9,300 million more than requested by the White House. The initiative, which must be voted on in a plenary session of the House of Representatives and the Senate, also includes costs for the wars in Iraq and Afghanistan and help to stabilize Pakistan. The bill “reflects the intention of President Barack Obama to gradually end the war in Iraq, strengthen efforts in Afghanistan, and stabilize Pakistan,” said the Committee Chairman David Obey. In total, the bill to be voted on by the full House next week authorizes $78,400 million for the Pentagon, or $4,700 million U.S. dollars more than the White House asked for. Other factors include financial assistance for the Middle East, and Africa; tackling the global financial crisis; and supporting the efforts of the international community to “identify, contain, and curb the spread of a pandemic.”
By Dialogo May 15, 2009 On Thursday military and defense experts from around the world concluded a three-day meeting in Miami in which they analyzed measures to combat illicit trafficking in weapons of mass destruction and their components, the U.S. Southern Command reports. The conference, organized by the U.S. Department of Defense and the Southern Command, brings together 34 countries. One of the topics of discussion was the traffic in weapons of mass destruction and related materials within the Americas. “Latin America, the Caribbean, and the United States share a common interest in preventing the proliferation of WMD in our hemisphere,” said Paul Trivelli, Foreign Policy Adviser to the Southern Command, who considers it essential for countries to coordinate their efforts in the prevention of trafficking in weapons and combating networks that profit from it. For his part, Gary Moore, who coordinates the monitoring of the proliferation of armaments and weapons of mass destruction at the White House, said that President Obama “has promised to pursue the peace and security of a world without nuclear weapons,” but that this goal cannot be achieved without international security initiatives to prevent the proliferation of weapons of mass destruction. Together with North American and Canadian experts, Latin American representatives of Argentina, Chile, El Salvador, Honduras, Panama, and Paraguay also took part of the event.
CUNA appreciates the announcement from the Consumer Financial Protection Bureau (CFPB) this week that it will make changes to its disclosure requirements to its current ex parte policy on rulemakings. The new policy gives commenters 10 business days to submit a documentation of a presentation, via written copy or summary, up from 3 days in the original policy.Under the current policy, an “ex parte presentation” means “any written or oral communication” by “any person outside the CFPB that imparts information or argument directed to the merits or outcomes of a rulemaking proceeding.”CUNA believes in the importance of the bureau’s ex parte policy to create a record of communications between credit unions and CFPB staff, and as an avenue to highlight credit union concerns and suggestions to improve CFPB rules. continue reading » 9SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
For years I have pondered a puzzle: why do financial institutions spend so much on cybersecurity and employ wonderfully smart and talented people – but the results are not as good as one would hope.Frequently financial institutions simply are whipped by their criminal opponents.Just look back on how DDOS – distributed denial of service – brought innumerable institutions to their knees a few years ago. It took months for credit unions to get it together to repel the attack.Then look at ATM jackpotting. New account opening fraud. ATM skimming. The list could go on and on but you get the message: criminals often outwit credit unions and banks and that is despite the money spent and the talent employed.Why don’t credit unions gain the upperhand?A new report, sponsored by cybersecurity firm Authentic8, involves a survey of 163 financial services professionals, and it tackles just that question: why do financial services firms so often fall victim to cyberattacks?Here’s a hint at the reason: “Financial firms have some of the best-funded IT departments of any industry, that’s no secret,” said Scott Petry, CEO of Authentic8. “What’s perplexing to me, with data breaches and privacy violations at an all-time high, is how deep the divide still runs between IT, compliance and legal professionals in many firms.”The report’s title spells out the problem: “Surprising Disconnect Over Compliance and Secure Web Use at Financial Firms.”The word to focus on is: Disconnect. That, inside many credit unions, sums up what ails the counterattack.Here’s the problem: inside many financial services firms, credit unions and banks included, there’s a cyber Tower of Babel where three principal stakeholders often talk at cross purposes, according to the Authentic8 report.Legal comes to the table with one perspective: it wants to insure that security policies and practices are squeaky clean, legally. Legal also wants to set data loss prevention policies and reduce the risks of web browsing by employees.Compliance comes to the table looking over its shoulder at regulator demands for compliance and, these days, it often has its eyes on social media because they, potentially, are compliance minefields. Compliance also worries about malware and how to reduce the damages it can inflict.IT comes to the table with real awareness of attack vectors and countermeasures – but IT also is sensitive to pushback from internal consumers who grumble, loudly, about restrictive security policies. IT, in many cases, said the research, also focuses on perimeter defenses and point solutions.The problem in many institutions, said Petry in an interview with me, is that the three groups often just don’t hear each other’s concerns and and don’t look outside their own silos. Each is focusing on valid issues but their comparative lack of interest in the concerns of other stakeholders severely impedes fast responses to changing cybersecurity environments.“It keeps me up at night knowing these three groups are working on the same problems but not really collaborating closely enough to solve them,” said Michelle DeStefano, a law professor and co-editor of the Compliance Elliance Journal.What this also means is that the institution’s response is fragmented, where what is needed to thwart ever more sophisticated cybercriminals is a coherent, muscular, focused response. And that just isn’t what many institutions are providing.Matters may be even worse inside many credit unions because at least some of this cybersecurity work is outsourced to multiple vendors – who commonly do not speak at all with each other.What’s the solution?Pretty obviously, it’s up to the boards of directors to bang home the message that effective, efficient cybersecurity is a necessity for a thriving financial services firm today. The penalties for falling victim range from reputation damage to hard dollar fines and no board wants that – which is exactly why this has become a board level concern.Top management – responding to board concerns – has to insist the three stakeholders work together, in a unified force, to fight against cyber criminals. That has become a necessity. The bad guys keep getting slicker.The good guys have to fight back hard – and that means pulling together.Read the report. It’s short, it’s free, but it’s provocative: Get it here. 12SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Robert McGarvey A blogger and speaker, Robert McGarvey is a longtime journalist who has covered credit unions extensively, notably for Credit Union Times as well as the New York Times and TheStreet, … Web: www.mcgarvey.net Details
According to the Pew Research Center, about half of lower-income Americans report household job or wage loss due to COVID-19. Young adults were disproportionately at risk of job losses from COVID-19, as were the least educated and those working low-wage jobs—common demographics of workers in high-risk industries, such as restaurants/bars and other service sectors such as transportation, retail, personal care, arts & entertainment, childcare and many others.Other common characteristics of these consumers which worsen their financial situation:They often don’t receive benefits such as paid leave.They do not have the option to work remotely.Many do not have emergency funds.Many do not have access to liquidity to pay their bills. In fact, under a traditional credit scoring system, many of these workers would not qualify for loans or other types of short-term credit.They often have no choice but to turn to high-priced payday loans.Although federal regulators have repeatedly urged credit unions to offer more favorable alternatives to high-priced loans—particularly on the heels of COVID-19, the prevalence of predatory lending continues, often trapping consumers in endless cycles of payday loan debt. Give your members a better way, or they WILL stray. In Velocity Solutions’ free white paper, we’ll discuss how the current economic crisis is affecting consumers’ financial behavior, and various strategies and options for providing short-term liquidity to your members in a time when they need your support more than ever.For more information, download our free white paper, Part IV of Velocity Solutions’ Credit Union Recovery Series: Your Consumers: Smart Strategies for Providing Short-Term Liquidity. 1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr
By scanning Croatian banknotes through the Croatian Greats application, three-dimensional animations are launched that speak, move around the space and reveal some interesting moments from Croatian history.This is the easiest way to explain the new application. “Croatian greats ” Delta Reality studio, which uses augmented reality to revive a part of Croatian history and bring new technology closer to all smartphone users. The Delta Reality team created the app to bring people closer to augmented reality, which to many still seems like an abstract concept, but can actually be enjoyed by anyone with a smartphone.This technology is already used in places such as museums, where scanning an image through dedicated applications animates the image or provides some additional information about it, but the Delta Reality team has decided to provide this opportunity to everyone, wherever they are, without the need to visit a specific site or museum.Thus, banknotes were imposed as a solution – a piece of history that everyone has with them, explains Darian Škarica, director of Delta Reality, and adds that they wanted everyone to be able to experience augmented reality. “We thought about what we could use as triggers, what image anyone could have. We quickly realized how banknotes could serve perfectly, because they have so many details that we often overlook. We immersed ourselves in creating content related to the motifs on the banknotes and designing so that we could bring them to life.”Points out Škarica.But that’s just the beginning, explains Škarica, because augmented reality will really take off when we no longer need a phone screen for it, but we will see it through augmented reality glasses. “One of the great things that the future of augmented reality brings us is the revival of everything around us – monuments will talk to us, strange creatures will fly over the city, there will be portals to the past throughout the city. We’ve already done some short experiments in this area, but it’s one thing to look at things like this through a cell phone screen, and it’s another thing to fully experience it using augmented reality glasses. ” concludes Scissors.Technology is there to help and speed up all business processes, changes are happening faster and those who ignore it will unfortunately have to close their doors. Don’t be afraid of new technologies, but use them to improve your business.You can download the Android app through the Google Play Store HERE, and the iPhone app is available on the iOS App Store HERERelated news:CAN VIRTUAL REALITY THREATEN TOURISM?
Indonesian Ulema Council (MUI) deputy chairman Muhyiddin Junaidi has advised Muslims to pray at home as COVID-19 cases in the nation have shown several spikes over the past few months. “Muslims in areas with a high number of [COVID-19] cases are advised to refrain from performing Friday and regular prayers in public places,” Muhyiddin said on Thursday as quoted by tempo.co.Indonesia saw another record-high of 3,861 daily virus cases on Thursday, bringing the total number of infections nationwide to 207,203.As for Muslims in areas with a low number of cases, Muhyiddin suggested they pay attention to health protocols and implement them when performing prayers in public places.Read also: Indonesia’s latest official COVID-19 figuresHe also reminded Muslims to carry out more good deeds by helping other people in need through zakat (alms) as well as donations.Muhyiddin also asked preachers to help educate Muslims on the importance of health protocols during the COVID-19 pandemic through sermons.He also encouraged all Muslims to say a certain prayer, asking for God’s protection from the infection. (dpk)Topics :
In addition, the pension fund has been awarded a €400,000 grant by the EU to cover initial and running costs “in the first year of its operations”. The EU has also earmarked more money to support the pension scheme in its Horizon2020 budget.“We expect that this generous support will be an open invitation to employers of researchers – public and private research institutions and universities, SMEs, and research and technical development companies – to join the pension fund in its initial phase,” said Gabriella Kemeny, chair of Resaver Consortium and Pension Funds.The consortium behind the Resaver pension fund has already been joined by over 20 organisations representing various institutions, with some expected to start contributions later this year.The pension fund is advised by Aon Hewitt, BlackRock won the initial investment mandate, and Previnet is handling the administration including a multi-language user portal.Paul Jankowitsch, Resaver membership and promotion chair, told IPE he was convinced the pension plan would “improve the financial perspective for researchers and foster mobility within the European Economic Area”. This story previously stated that Italy’s Elettra Sincrotrone Trieste and Istituto Italiano di Tecnologia would be among the first contributors. They have not yet confirmed contributions to Resaver. From March the first member organisations will transfer contributions to the Resaver cross-border pension plan.The first institution to make contributions will be one of the founding members: the Central European University, based in Hungary.Resaver confirmed the pension plan for academic researchers has also achieved “local regulatory approval to operate [in] Hungary and Italy”.The cross-border plan was set up as a Belgian OFP (Organisme de Financement de Pensions) last year and received the approval from the Belgian supervisory authority FSMA a few weeks ago.