Daily News Digest

 

January 16, 2018


The Wall Street Journal

  • The British Parliament overwhelmingly defeated Prime Minister Theresa May’s proposal for exiting the European Union, prompting a no-confidence vote on the May government and global uncertainty about the U.K.’s plans.
  • With no end in sight to the government shutdown, businesses that rely on federal contracts have stopped paying their employees.  Government workers are beginning to take advantage of no-interest emergency loans offered by their financial institutions.


Times-Union

  • Governor Cuomo unveiled a $175 billion spending plan yesterday that would permit the use of recreational marijuana for persons over age 21, but would also give cities and counties the authority to prohibit pot retailers within their jurisdictions. Under the Governor’s proposal, the product would be taxed at the cultivation, wholesale, and retail levels – a measure that is estimated to bring $300 million into the State’s coffers.  A 2018 report predicted that 1.3 million New Yorkers would access the market upon legalization.  More than half of respondents surveyed in a Siena poll support legalization.


American Banker  

  • Fiserv will acquire First Data in an all-stock deal with a value of about $22 billion that will combine two of the financial services industry's largest technology and processing companies.


Daily News

  • As expected, U.S. Senator Kirsten Gillibrand (D-NY) joined what is certain to be a crowded field of Democratic Presidential candidates.  Gillibrand, who announced her bid on “The Late Show with Stephen Colbert,” has national name recognition ratings in the single digits.
  • The New York State Senate and Assembly passed the Gender Expression Non-Discrimination Act, which will prohibit employment, credit, housing and education discrimination based on a person’s gender identification or expression.


Politico

  • Politico says the House Financial Services Committee is about to “swerve left,” as it prepares to welcome new Democratic members Alexandria Ocasio-Cortez (NY), Katie Porter (CA), Ayanna Pressley (MA), and Rashida Tiaib (MI).  Observers say Committee Chair Maxine Waters will have her hands full “keeping the peace” between the freshmen and the moderates. The New York Post reports that Ocasio-Cortez tweeted that her initial top Committee priorities are student loan debt and postal banking.
  •  An appellate court upheld the New York State Department of Financial Services’ regulations on title insurance, reversing a lower court decision and affirming that the costs of sales incentives may not be passed along to consumers.





Questions?

Karen Armstrong, Senior Vice President, Communications and Political Action
karmstrong@nyba.com


Duncan McCausland
, Marketing and Communications
dmccausland@nyba.com