Banks Doing Well in Thriving Economy, Says ABA

By James Chessen, ABA’s chief economist

Washington, D.C. - February 23, 2019 - (The Ponder News) -- “The latest FDIC data show that America’s banks are healthy, well capitalized and making the loans that help Main Street businesses succeed. With tax reform helping to spur business expansion, banks stepped up to meet increased loan demand from businesses of all sizes. Business lending picked up 7.8 percent over the year, and total bank lending saw the biggest quarter-over-quarter increase since 2015. Bank lending grew a healthy 4.4 percent to over $10 trillion in total loans, an increase of $431 billion in 2018. Depositors benefited from increased competition for funds as banks looked to attract more deposits to supply loan demand.

“As always, banks are keeping a watchful eye on the state of the economy and are well positioned to manage any changes that affect the business landscape, including additional interest rate moves by the Fed. Banks continue to maintain credit discipline, and are building up reserves for potential loan losses as they look ahead to the twilight of this economic cycle. This is on top of a record $2 trillion in capital that provides a strong foundation for financial security and economic growth.

“The FDIC’s renewed focus on supporting de novo banks is encouraging as new institutions show the promise of a brighter future for communities and the industry. With a solid foundation of capital and high-quality assets, banks remain well positioned to support continued economic growth in 2019 and beyond.”

The American Bankers Association is the voice of the nation’s $17.9 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard nearly $14 trillion in deposits and extend more than $10 trillion in loans.

AAJ STATEMENT ON GOOGLE ENDING FORCED ARBITRATION

by American Association for Justice

Washington, D.C. - February 23, 2019 - (The Ponder News) -- The following is a statement from American Association for Justice CEO Linda Lipsen on the announcement from Google promising to end mandatory forced arbitration for all full-time employees:

“AAJ applauds the courageous group of women from Google who organized the walkout to call national attention to sexual harassment and the common workplace policy of forced arbitration that silences survivors and allows corporations to escape accountability.

As we celebrate this good news for Google employees, we call on Congress to take action to end forced arbitration for all Americans. We commend Senators Richard Blumenthal and Patty Murray and Representatives Hank Johnson, Jerry Nadler and Bobby Scott for leading on this issue, as well as Senator Lindsey Graham, who last year publicly challenged companies to end forced arbitration as a matter of good business practice.

Some corporations, like Microsoft and now Google have taken action, realizing forced arbitration was bad policy. Until the law is changed, forced arbitration remains the prevailing practice for most corporations, leaving millions of Americans unable to enforce their constitutional right to seek justice and accountability from the corporations who hurt them. Forced arbitration means that corporations can get away with breaking the law and never be held responsible. That’s why Congress needs to step up and pass comprehensive legislation to ensure all Americans, not just employees at Google, can enforce their rights.”

The American Association for Justice works to preserve the constitutional right to trial by jury and to make sure people have a fair chance to receive justice through the legal system when they are injured by the negligence or misconduct of others—even when it means taking on the most powerful corporations.

HHS issues final rule on life-affirming health funding reforms

by Alliance Defending Freedom

Washington, D.C. - February 23, 2019 - (The Ponder News) -- The following quote may be attributed to Alliance Defending Freedom Senior Counsel Denise Burke regarding the U.S. Department of Health and Human Services’ issuance Friday of the final version of the Protect Life Rule and its reforms of the Title X funding program:

“The tax dollars of Americans should never be used to fund abortion, shield child abusers, or force medical professionals to violate their convictions by participating in the end of human life. We commend the Trump administration and HHS for these commonsense reforms, which simply ensure greater compliance with current federal and state laws, safeguard vulnerable and abused women and children, and help protect freedom of conscience for health care workers. The Protect Life Rule, which the U.S. Supreme Court has upheld, will prevent organizations like the nation’s largest abortion business, Planned Parenthood, from funding their abortion activities through the Title X program. Planned Parenthood has covered up the sexual abuse of young girls and has been investigated for waste, abuse, and potential fraud. Because of these failures, it doesn’t deserve taxpayer dollars. This rule is a welcome step toward greater government program integrity and the protection of every human life, no matter how vulnerable.”

ADF submitted official comments to HHS in support of the Protect Life Rule in July of last year.

Alliance Defending Freedom is an alliance-building, non-profit legal organization that advocates for the right of people to freely live out their faith.

Bonamici Meets with Local Domestic Violence Agency, Calls for Update to Violence Against Women Act

Astoria, OR - February 22, 2019 - (The Ponder News) -- Congresswoman Suzanne Bonamici (D-OR, 1st) met with advocates for survivors of domestic violence and called for Congress to update and expand the Violence Against Women Act (VAWA), which lapsed on Friday, Feb. 15.

The landmark legislation that funded domestic violence agencies across the country since 1994 expired in September of 2018, but a short-term reauthorization carried it through until February 15. Congress has funded VAWA programs for this year, but a reauthorization of the program is needed.

“Domestic violence survivors and the agencies that support them should be able to rely on the federal support they need. I am eager to work with my colleagues to update and expand this law so agencies like The Harbor in Clatsop County can continue their work to prevent violence and support survivors. I am committed to making sure that VAWA is reauthorized and expanded to provide stronger protections for all survivors, including LGBTQ and Native women.”

“The Harbor relies on federal funding to help us provide services to hundreds of survivors and their kids every year, including housing, transportation, legal support, and mental health care,” said Hilary Levine, Director of Services at The Harbor. “Without the Violence Against Women Act, many agencies like ours would be in trouble. Especially in rural counties where there are few options, survivors need to know these services will always be available, no matter what.”

Reed, Whitehouse Reintroduce Public Health Care Option

Washington, D.C. - February 17, 2019 - (The Ponder News) -- U.S. Senators Jack Reed (D-RI) and Sheldon Whitehouse (D-RI) have reintroduced the State Public Option Act, bicameral legislation to create a Medicaid-based public health care option to strengthen the Affordable Care Act (ACA) by providing Americans with a new high-quality, low-cost choice when purchasing health insurance.

“I want Rhode Islanders to have affordable choices when it comes to health care and prescription drugs,” said Senator Reed. “The State Public Option Act is a prescription for just that. It can help keep health insurers honest about what they charge and deliver cost-effective care to Rhode Islanders.”

“I’ve been a vocal advocate for creating a public health insurance option since I was elected to the Senate, and I will continue to do so until every single Rhode Islander has access to high quality, affordable health care,” said Senator Whitehouse, who co-authored public option legislation during the drafting of the ACA and introduced a similar bill last Congress. “Increased competition driven by a publicly run insurance option will result in better, cheaper insurance for everyone in the marketplace.”

The State Public Option Act, led by U.S. Senator Brian Schatz (D-HI) and Congressman Ben Ray Luján (D-NM), will allow states to create a Medicaid buy-in program for all their residents regardless of income, giving everyone the option to buy into a state-driven Medicaid health insurance plan. At least 14 states are exploring implementing a Medicaid public option within their legislatures.

A recent Kaiser Family Foundation survey found broad, bipartisan support for a Medicaid public option. Medicaid is a popular and cost-effective program with a large provider network. The program has the same positive ratings as private insurance, but provides health coverage at a much lower cost. Based on partnerships between state and federal governments, Medicaid also gives states the flexibility to adapt services and models of care based on their individual needs.

Even with the progress of the ACA, nearly 30 million people remain uninsured, including 4.6 percent of Rhode Islanders in 2017. This legislation will help workers who do not have employer-sponsored coverage but may make too much to qualify for subsidies under the ACA. The bill will also help consumers who live in other places across the country that have only one insurance carrier.

The legislation has sixty-one cosponsors in the Senate and House.

President’s National Emergency Announcement

Washington, D.C. - February 17, 2019 - (The Ponder News) -- U.S. Senate Majority Leader Mitch McConnell (R-KY) released the following statement following President Trump’s announcement:

“President Trump’s decision to announce emergency action is the predictable and understandable consequence of Democrats’ decision to put partisan obstruction ahead of the national interest. I urge my Democratic colleagues to quickly get serious, put partisanship aside, and work with the president and our homeland security experts to provide the funding needed to secure our borders as we begin the next round of appropriations.”




MURPHY VOTES TO AVOID ANOTHER GOVERNMENT SHUTDOWN, OPPOSES NATIONAL EMERGENCY DECLARATION FOR SOUTHERN BORDER WALL

Schatz Statement On National Emergency Declaration


Tillis Statement on President Trump’s National Emergency Declaration

VAN HOLLEN STATEMENT ON TRUMP DECISION TO DECLARE A NATIONAL EMERGENCY

Klobuchar, Collins Introduce Bipartisan Legislation to Crack Down on Fraud Targeted at Seniors

This is all well and good. However, this type of fraud is not just directed at Seniors. It is directed at those who have little experience dealing with these types of offers. We all get the same telemarketing phone calls.

Washington, D.C. - February 17, 2019 - (The Ponder News) -- U.S. Senators Amy Klobuchar (D-MN) and Susan Collins (R-ME) announced that they have reintroduced their bipartisan legislation to crack down on fraud targeted at seniors. Schemes targeting seniors include fraudulent investment plans, prizes, sweepstakes, internet fraud, charity scams, predatory home lenders, telemarketing and mail fraud, and Ponzi schemes. The Seniors Fraud Prevention Act would help fight scams designed to strip seniors of their assets by helping educate seniors about fraud schemes and improve monitoring and response to fraud complaints.

“We must ensure all Americans have safety and dignity in their senior years,” said Klobuchar. “New fraudulent schemes designed to target seniors appear almost daily, and seniors can watch their entire life savings disappear in scams that are designed to target their assets. This bipartisan legislation will improve efforts to combat fraud targeting seniors so we can make fighting scams against our seniors a priority.”

“As the Chairman of the Senate Aging Committee, combatting elder fraud has long been one of my top priorities. Though we have held hearings exposing and examining a number of these scams in order to help protect seniors, much more remains to be done,” said Collins. “The Seniors Fraud Prevention Act would help enhance fraud monitoring, increase consumer education, and strengthen the complaint tracking system to help prevent seniors from being robbed of their hard-earned savings through threatening and manipulative scams.”

The Seniors Fraud Prevention Act would help protect seniors from fraud schemes by strengthening the reporting system to ensure complaints of fraud are handled quickly by the appropriate law enforcement agencies. The bill would also require the Federal Trade Commission (FTC), the agency responsible for handling consumer complaints, coordinate with other agencies to monitor the market for fraud schemes targeting seniors. In addition, the bill would require the FTC to distribute information to seniors, their families, and their caregivers that explain how to recognize fraud schemes and how to contact law enforcement authorities in the event that a senior is targeted. Klobuchar and Collins have introduced this bill in the three previous Congresses. In 2016, the legislation passed the Senate Commerce Committee without opposition and in 2017, the legislation passed the Senate.

Collins, King-Backed Bill Will Encourage Employers to Help Pay Off Student Loan Debt

Washington, D.C. - February 17, 2019 - (The Ponder News) -- U.S. Senators Susan Collins (R-Maine) and Angus King (I-Maine) this week cosponsored bipartisan legislation to help Americans tackle their student loan debt. The Employer Participation in Repayment Act would allow employers to contribute up to $5,250 tax-free to their employees’ student loans – providing employees with much-needed relief and employers with a unique tool to attract and retain talented employees.

“Young people seeking higher education should be able to follow their dreams after graduation, but today the vast majority are shouldered with excessive and seemingly insurmountable debt. A diploma should not be a certificate of anxiety, but one of hope for the future,” Senator King said. “That’s why we must look for innovative new ways to ease the burden of student loans and help the next generation join the workforce and succeed. This bipartisan legislation will support American students and help employers recruit and retain driven young people – a win-win.”

“Education plays a vital role in opening the doors of opportunity to all Americans, but the rising cost of a college education threatens to close those doors to many families across the country,” said Senator Collins. “This bipartisan bill would help alleviate the financial strain of student loans by encouraging more employers to provide student loan repayment benefits to their employees.”

According to reports, one in four Americans have student loans, and student debt in the U.S. reached $1.5 trillion in 2018. Student debt is a significant financial burden that influences the way the American workforce saves and spends, and thus stifles the entire economy. The Employer Participation in Repayment Act would update an existing federal program so that it works better for employees living with the reality of burdensome student loan debt. The Employer Education Assistance Program currently only provides assistance for workers who are seeking additional education. It does not extend to individuals who have already incurred student loan debt during their undergraduate or graduate studies.

In addition to Senators Collins and King, the Employer Participation in Repayment Act is supported by Senators Mark Warner (D-Va.), John Thune (R-S.D.) Shelley Moore Capito (R-W.Va.), Ed Markey (D-Mass.), Pat Roberts (R-Kan.), Chris Murphy (D-Conn.), John Hoeven (R-N.D.), Doug Jones (D-Ala.), Mike Rounds (R-S.D.), Richard Blumenthal (D-Conn.), Jon Tester (D-Mont.), Roy Blunt (R-Mo.), Maggie Hassan (D-N.H.), Todd Young (R-Ind.), Jacky Rosen (D-Nev.), Cory Gardner (R-Colo.) and Kyrsten Sinema (D-Ari.).

The legislation has also been introduced in the U.S. House of Representatives by Reps. Scott Peters and (D-CA) and Rodney Davis (R-IL) and has support from numerous educational organizations.

Full text of the legislation can be found HERE. A summary of the legislation can be found HERE.

ISAKSON, PERDUE TO INTRODUCE DISASTER RELIEF PACKAGE

Atlanta, GA - February 17, 2019 - (The Ponder News) -- U.S. Senators Johnny Isakson, R-Ga., and David Perdue, R-Ga., announced they will introduce a stand-alone disaster relief package to provide critical funding for Georgia and other states recovering from recent natural disasters, including Hurricane Michael.

“The biggest immediate crisis facing Georgia today is the relief money needed for the lost agricultural products from the hurricanes that have hit here and in other states,” said Isakson. “We are in crisis mode for our farmers and agricultural community, and we will not stop until we get needed aid for those who have suffered devastation. Additional losses grow every day we wait, and it’s far past time we fulfill the promises that were made. Supplemental disaster funding was overwhelmingly supported in funding proposals voted on earlier this year, so there shouldn’t be a reason for further delay on a supplemental disaster relief package to provide critical aid for Georgians.”

“Enough is enough. Georgia and other states across the country are hurting from historic hurricanes and devastating wildfires, and the federal government continues to drag its feet,” said Perdue, a member of the Senate Agriculture Committee. “In October, President Trump and Vice President Pence both saw the devastation firsthand and promised to help Georgia and other states rebuild. It’s long past time to make good on these promises. For farmers in Georgia, it’s not a matter of putting a crop in the ground this year – it’s a matter of putting a crop in the ground ever again. I will continue to fight for disaster relief until our farmers and rural communities have the resources they need to recover.”

The senators plan to introduce a supplemental funding package after the Senate reconvenes on Feb. 25 that includes $3 billion to provide critical agriculture disaster relief for farmers recovering in the wake of Hurricane Michael, along with additional funds for communities in Georgia and other states. Senators Perdue and Isakson have vowed to continue raising this issue in the Senate until Congress approves disaster funding.

See also...

States deserve a seat at the table when listing species as endangered

Washington, D.C. - February 14, 2019 - (The Ponder News) -- If a federal agency is going to list a species as endangered, they are supposed to utilize the best scientific and commercial data available. But Congressional hearings have revealed numerous examples of agencies failing to follow these rules.

To address this problem, U.S. Senators Senator Michael B. Enzi - (R - WY), Senator James E. Risch (R - ID), and Senator Pat Roberts (R - KS), introduced legislation that would require the federal government to disclose the data it uses for Endangered Species Act (ESA) listings. It would also ensure that ESA decisions are more reliant on the input of state, local and tribal studies.

“When an animal is categorized as an endangered species, it is the states and local communities that are most impacted, but currently they can’t verify, dispute or complement the information federal agencies use,” Enzi said. “This legislation would ensure that state, local and tribal entities would have a seat at the table when federal agencies are proposing regulations that could have significant ramifications. Wyoming has some of the richest wildlife habitat in the world, and that is why we should encourage an open process that relies on the best data available.”

“We need to put states and local communities back in the driver’s seat when it comes to the wildlife conservation and management efforts that so greatly affect them,” Risch said. “By incorporating on the ground information and decision-makers, this legislation makes important strides in that effort.”

“Like we saw when the Obama Administration listed the lesser prairie chicken, many local factors related to the health of the species were either ignored or disregarded,” Roberts said. “This bill will ensure the federal government is transparent in its determinations and also that it considers information from state and local sources.”

The State, Tribal, and Local Species Transparency and Recovery Act is designed to ensure the federal government adheres to its legal responsibilities to cooperate with states under the Endangered Species Act and that the best available scientific data is used in listing decisions.