April 30, 2006 Regular News The Board of Governors has given final approval to standing board policies to guide board members when they act as designated reviewers in grievance cases.The board, acting on the recommendation of the Disciplinary Procedure Committee, gave the approval at its Coral Gables meeting.DPC member Jay White noted that the policies were suggested by a member of the DPC and a separate recommendation from the Special Commission on Lawyer Regulation, and will bring consistency to the way board members accept, review, and act on grievance matters when they are the designated reviewer.One thing the commission found is there was no uniformity in how board members acted when they were requested to examine a grievance committee’s action. on a complaint against a lawyer. White said the DPC is working on several other issues that could come to the board at future meetings, including: • Looking at having the Bar’s fee arbitration rules match mediation rules. • Changing the new inventory attorney rule to exempt government lawyers. • Examining the rule requiring judicial review when a contingency fee exceeds the limits in Bar rules. White noted that a special committee drafting a propose rule in response to Amendment 3 (limiting contingency fees in medical malpractice cases) had suggested that the judicial review served little purpose. White said the DPC will wait to see how the Supreme Court acts on the proposed rule for Amendment 3 before making a recommendation on the existing rule. • Making sure that public Florida Bar grievance records don’t contain sensitive or private information about complainants, which could be used by identity thieves. Board approves policies for designated reviewers Board approves policies for designated reviewers
1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Anne Legg Anne Legg, founder and principal of THRIVETM Strategic Services THRIVE works with credit unions to develop transformational business strategies from their business insights to grow in a competitive, highly regulated … Web: https://www.anneleggthrive.com Details Let me start this article on credit union superpowers by making a respectfully low bow to Stan Lee and Malcolm Wheeler-Nicholson, founders of Marvel and DC comics respectfully. Both Lee and Wheeler-Nicholson delivered the chassis of the modern super-hero. They created these heroes with superpowers that arose from unique accidents (Spiderman), technical innovations (Batman), or genetic mingling with aliens (Captain Marvel). The credit union industry has many superpowers as well, and today we are going to focus on one, the HUG.Superpower: Let the Cooperative force be with you – aka the HUGCredit unions are financial cooperatives, meaning that they are owned and managed by their members. Every account holder has an ownership share in the credit union, allowing them to participate in the management of the credit union via elections and other actions. The cooperative business structure is a unique feature of credit unions and comes with a fantastic set of 7 cooperative principles. Just as a refresher, here they are.Voluntary MembershipDemocratic Member ControlMembers’ Economic ParticipationAutonomy and IndependenceEducation, Training, and InformationCooperation Among CooperativesConcern for CommunityThe last principle, “concern for community,” is a favorite as it exemplifies the credit union spirit of “people helping people.” Of course, the word “cooperative” is just fantastic. It means that credit unions work together to solve problems and build a better financial landscape. To put it in simpler terms, credit unions hug. Bother literally and figuratively.This hug is expressed in the passion that credit union employees have for their members. They love to help them in ways that you wouldn’t expect from your financial institution. Credit union employees have been known to help change a member’s flat tire (even in the rain), check on older members during snowstorms, and even, on rare occasions, temporarily take care of a member’s pet.The Loan HugDuring the great financial crisis, credit unions worked very hard to keep members in their homes when foreclosure from other financial institutions was looming uncomfortably close.When monthly energy prices were nearly the amount of an auto loan payment, many credit unions offered to let qualifying members skip their auto loan payment to pay their energy bills in order to keep the lights on.The ability to skip a loan payment is nearly a standard benefit found with most credit union credit cards and auto loans. While skipping a loan payment extends the life of the loan, the ability to have additional cash available may be a critical way for members to stay afloat. Recognizing this need and creating solutions for it is the hug that credit unions offer.While the credit union hug is lovely and genuinely does differentiate them from other financial institutions, there may be an economic benefit from these hugs, specifically in keeping members in their homes and providing methods for an increase in cash flow. Deferring an auto loan payment is considered a form of a micro-loan. Micro-finance research performed by Harvard Professor Rohini Pande and Duke University Professor Erica Field indicates a positive economic impact when a borrower is given a chance to defer a payment. Professors Pande and Field found that offering borrowers a grace period of just two months doubled the rate that new businesses were created. The cash flow generated by the deferred payment allowed the borrower to take more significant risks that then resulted in bigger rewards. After three years, business profits were 41% higher, and household incomes increased by 19.5%.Financial impact of the HUGDoes this mean that credit union members who skip an auto loan payment will have a similar economic impact? The research has yet to be completed; however, an argument can be made that by allowing the member to have the freedom to have additional cash has two positive impacts on local economies. The first is that it keeps the member from defaulting on other loan obligations and keeps them in a positive cash flow state. The second is that it makes the member more loyal to the credit union and increases the likelihood that members will not default on the auto loan in the future. And, most importantly, credit unions are, for the most part, the only financial institution that offers this important and needed financial hug.“With great power comes great responsibility.” – Stan Lee
Recently Indiana University hired Archie Miller to replace Tom Crean. The last several years Miller coached the Dayton Flyers. He took them to several NCAA Tournament appearances.Miller is probably known for his low-key appearance and a no-nonsense approach to coaching. He is also young and comes from a basketball family. His older brother, Sean, is the head coach at Arizona University.At Dayton Miller took a group of no-name ball players and molded them into a very efficient basketball team. The emphasis here is on “team”. Watching Miller’s teams play, you have no idea who the “go-to” guy is. All 5 players seem to have equal rolls in his offensive and defensive schemes. This is what I like about Archie Miller and why I think he will be a good fit, not only for the present group at IU, but in the future.Even though Miller seems to have a low-key approach on the sidelines, he has been known to really be intense during his basketball practices. Miller began his career as an Ohio State assistant, so he knows the Big Ten atmosphere. Good Luck, Archie, at IU!