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HICKSVILLE, N.Y. , Dec. 13, 2024 /PRNewswire/ -- Flagstar Financial, Inc. (NYSE: FLG) (the "Company") today announced the appointment of Brian Callanan , Senior Managing Director and General Counsel at Liberty Strategic Capital ("Liberty"), to its Board of Directors, effective December 16, 2024 . Commenting on the appointment, Joseph M. Otting , Chairman, President, and CEO said, "I'm pleased to have Brian join our Board. His proven track record and expertise in financial services, along with his strategic insights will be instrumental as we continue to execute on our transformation and long-term vision. Brian's perspectives will provide valuable guidance, and his leadership will play a critical role in driving sustainable growth, ensuring we achieve long-term success and maximize the value we deliver to our shareholders, employees, and clients." Callanan is a distinguished lawyer with extensive experience in financial regulation, regulatory compliance, and financial technology. At Liberty, Callanan leads the firm's legal function, serves on its Investment Committee, and focuses on financial sector investments. Prior to joining Liberty, he served as General Counsel of the U.S. Department of the Treasury, overseeing 2,000 lawyers across the department. As Chief General Counsel, he played a key role in major initiatives such as economic rescue programs during COVID-19, the design of new economic sanctions, and the implementation of tax reform. While serving as Deputy General Counsel, Callanan managed major litigation and advised on regulatory reform efforts, among other responsibilities. For his service, he received the Alexander Hamilton Award, the department's highest honor. This appointment aligns with the $1.05 billion equity investment in March 2024 , which stipulated that two Board seats would be granted to lead investor Liberty Strategic Capital. With Callanan's addition, the Company's Board of Directors, which was reconstituted earlier in 2024, expands to nine members, including Chairman, President, and Chief Executive Officer, Joseph M. Otting , Milton Berlinski , Alessandro P. DiNello , Alan Frank , Marshall Lux , Lead Independent Director Secretary Steven T. Mnuchin , Allen Puwalski , and Jennifer Whip. About Flagstar Financial, Inc. Flagstar Financial, Inc. is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the country. The Company is headquartered in Hicksville, New York . At September 30, 2024, the Company had $114.4 billion of assets, $73.0 billion of loans, deposits of $83 .0 billion, and total stockholders' equity of $8 .6 billion. Flagstar Bank, N.A. operates over 400 branches, including a significant presence in the Northeast and Midwest and locations in high growth markets in the Southeast and West Coast. In addition, the Bank has approximately 80 private banking teams located in over 10 cities in the metropolitan New York City region and on the West Coast, which serve the needs of high-net worth individuals and their businesses. Cautionary Statements Regarding Forward-Looking Statements This release may include forward‐looking statements by the Company and our authorized officers pertaining to such matters as our goals, beliefs, intentions, and expectations regarding (a) revenues, earnings, loan production, asset quality, liquidity position, capital levels, risk analysis, divestitures, acquisitions, and other material transactions, among other matters; (b) the future costs and benefits of the actions we may take; (c) our assessments of credit risk and probable losses on loans and associated allowances and reserves; (d) our assessments of interest rate and other market risks; (e) our ability to execute on our strategic plan, including the sufficiency of our internal resources, procedures and systems; (f) our ability to attract, incentivize, and retain key personnel and the roles of key personnel; (g) our ability to achieve our financial and other strategic goals, including those related to our merger with Flagstar Bancorp, Inc., which was completed on December 1, 2022, our acquisition of substantial portions of the former Signature Bank through an FDIC-assisted transaction, and our ability to fully and timely implement the risk management programs institutions greater than $100 billion in assets must maintain; (h) the effect on our capital ratios of the approval of certain proposals approved by our shareholders during our 2024 annual meeting of shareholders; (i) the conversion or exchange of shares of the Company's preferred stock; (j) the payment of dividends on shares of the Company's capital stock, including adjustments to the amount of dividends payable on shares of the Company's preferred stock; (k) the availability of equity and dilution of existing equity holders associated with amendments to the 2020 Omnibus Incentive Plan; (l) the effects of the reverse stock split; and (m) transactions relating to the sale of our mortgage business and mortgage warehouse business. Forward‐looking statements are typically identified by such words as "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "should," "confident," and other similar words and expressions, and are subject to numerous assumptions, risks, and uncertainties, which change over time. Additionally, forward‐looking statements speak only as of the date they are made; the Company does not assume any duty, and does not undertake, to update our forward‐looking statements. Furthermore, because forward‐looking statements are subject to assumptions and uncertainties, actual results or future events could differ, possibly materially, from those anticipated in our statements, and our future performance could differ materially from our historical results. Our forward‐looking statements are subject to, among others, the following principal risks and uncertainties: general economic conditions and trends, either nationally or locally; conditions in the securities, credit and financial markets; changes in interest rates; changes in deposit flows, and in the demand for deposit, loan, and investment products and other financial services; changes in real estate values; changes in the quality or composition of our loan or investment portfolios, including associated allowances and reserves; changes in future allowance for credit losses, including changes required under relevant accounting and regulatory requirements; the ability to pay future dividends; changes in our capital management and balance sheet strategies and our ability to successfully implement such strategies; recent turnover in our Board of Directors and our executive management team; changes in our strategic plan, including changes in our internal resources, procedures and systems, and our ability to successfully implement such plan; changes in competitive pressures among financial institutions or from non‐financial institutions; changes in legislation, regulations, and policies; the imposition of restrictions on our operations by bank regulators; the outcome of pending or threatened litigation, or of investigations or any other matters before regulatory agencies, whether currently existing or commencing in the future; the success of our blockchain and fintech activities, investments and strategic partnerships; the restructuring of our mortgage business; our ability to recognize anticipated expense reductions and enhanced efficiencies with respect to our recently announced strategic workforce reduction; the impact of failures or disruptions in or breaches of the Company's operational or security systems, data or infrastructure, or those of third parties, including as a result of cyberattacks or campaigns; the impact of natural disasters, extreme weather events, military conflict (including the Russia / Ukraine conflict, the conflict in Israel and surrounding areas, the possible expansion of such conflicts and potential geopolitical consequences), terrorism or other geopolitical events; and a variety of other matters which, by their nature, are subject to significant uncertainties and/or are beyond our control. Our forward-looking statements are also subject to the following principal risks and uncertainties with respect to our merger with Flagstar Bancorp, which was completed on December 1, 2022 , and our acquisition of substantial portions of the former Signature Bank through an FDIC-assisted transaction: the possibility that the anticipated benefits of the transactions will not be realized when expected or at all; the possibility of increased legal and compliance costs, including with respect to any litigation or regulatory actions related to the business practices of acquired companies or the combined business; diversion of management's attention from ongoing business operations and opportunities; the possibility that the Company may be unable to achieve expected synergies and operating efficiencies in or as a result of the transactions within the expected timeframes or at all; and revenues following the transactions may be lower than expected. Additionally, there can be no assurance that the Community Benefits Agreement entered into with NCRC, which was contingent upon the closing of the Company's merger with Flagstar Bancorp, Inc., will achieve the results or outcome originally expected or anticipated by us as a result of changes to our business strategy, performance of the U.S. economy, or changes to the laws and regulations affecting us, our customers, communities we serve, and the U.S. economy (including, but not limited to, tax laws and regulations). More information regarding some of these factors is provided in the Risk Factors section of our Annual Report on Form 10‐K/A for the year ended December 31, 2023, Quarterly Report on Forms 10-Q for the quarters ended March 31, 2024 , June 30, 2024 , and September 30, 2024 , and in other SEC reports we file. Our forward‐looking statements may also be subject to other risks and uncertainties, including those we may discuss in this news release, on our conference call, during investor presentations, or in our SEC filings, which are accessible on our website and at the SEC's website, www.sec.gov . Investor Contact: Salvatore J. DiMartino (516) 683-4286 Media Contact: Nicole Yelland (248) 219-9234 View original content to download multimedia: https://www.prnewswire.com/news-releases/flagstar-financial-inc-appoints-brian-callanan-to-board-of-directors-302331692.html SOURCE Flagstar Financial, Inc.BREAKING NEWS Crushing blow for Anthony Albanese as hugely controversial misinformation bill is SCRAPPED Misinformation bill is scrapped Greens and Coalition did not support bill By AIDAN WONDRACZ FOR DAILY MAIL AUSTRALIA Published: 23:07 GMT, 23 November 2024 | Updated: 23:15 GMT, 23 November 2024 e-mail View comments Communications minister Michelle Rowland has announced Labor will abandon its push to introduce a misinformation bill. Ms Rowland made the announcement on Sunday following revelations the Greens, Coalition and several crossbenchers would not support the legislation. 'Based on public statements and engagements with senators, it is clear that there is no pathway to legislate this proposal through the Senate ,' she said in a statement. 'The government will not proceed with the Communications Legislation Amendment (Combatting Misinformation and Disinformation) Bill 2024. 'The government invites all parliamentarians to work with us on other proposals to strengthen democratic institutions and keep Australians safe online, while safeguarding values like freedom of expression. 'It is incumbent on democracies to grapple with these challenges in a way that puts the interests of citizens first.' The Bill aimed to combat seriously harmful content on digital platforms. Greens' communications spokeswoman Sarah Hanson-Young said that while the intent behind the Bill was 'well-meaning,' the proposed laws were 'badly and poorly explained and implemented'. Communications Minister Michelle Rowland has announced Labor will abandon its push to introduce a misinformation bill She's called for stronger regulation, which would target 'dangerous algorithms' and heavy financial penalties for social media companies. 'We've got to get back to the real problem, and that is how these companies profit off these dangerous posts,' she told the ABC. 'If you want to stop the dangerous posts spreading like wildfire, hit them where it hurts, and that's the dollar.' Shadow attorney-general Michaelia Cash said the Bill was an attempt to 'censor free speech'. 'This Bill is not about misinformation and disinformation,' she told Sky News. 'This Bill is about the Albanese government giving bureaucrats the ability to say whether what you and I say is misinformation or disinformation.' In October, religious groups and the human rights commissioner argued Labor's proposed bill to combat misinformation and disinformation would threaten freedom of expression and 'undermine democracy'. The Australian Christian Lobby (ACL) said it would pose a 'serious threat to the Australian democracy'. Be the first to comment Be one of the first to comment Comments Now have YOUR say! Share your thoughts in the comments. Comment now 'One of our concerns about this Bill is that it has the potential to stifle the processes through which knowledge moves on,' ACL researcher Elizabeth Taylor said. 'The misinformation of today may be proven to be correct tomorrow, or new information may come to displace the incumbent orthodoxies of the day. 'This is the process of progress.' ACL chief executive Michelle Pearse said the Bill's provisions that would protect religious vilification were 'an over-reaction to censor contrary opinions'. Melbourne Archbishop Peter A Comensoli also questioned who would be making judgments around what counts as misinformation and disinformation and said there needed to be more transparency. 'The legislation itself does not deal with this in any articulate way... the issue around who would be making judgments around what is truthful, what is fact, not so much the content itself,' he said. 'The platforms themselves have bias.' Australia's human rights commissioner Lorraine Finlay said the legislation needed 'greater transparency, accountability and scrutiny mechanisms' and feared it could create 'tiers of speech rights'. Anthony Albanese Share or comment on this article: Crushing blow for Anthony Albanese as hugely controversial misinformation bill is SCRAPPED e-mail Add comment
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FLAGSTAR FINANCIAL, INC. NAMES LEE SMITH AS CHIEF FINANCIAL OFFICERCharleston Southern 83, Miami 79Gus Malzahn is resigning as Central Florida's head coach to become 's offensive coordinator, a person familiar with the hire told The Associated Press on Saturday. The person spoke on condition of anonymity because the Seminoles have not confirmed Malzahn's move, which is pending a state background check. ESPN first reported the decision. The Knights made official that Malzahn is leaving in a statement released a day after UCF (4-8) concluded its season with to Utah. “We would like to thank Coach Malzahn for his contributions to our football program over the past four seasons, including our transition into the Big 12 Conference," the school said. "We appreciate his professionalism and dedication to our student-athletes throughout his tenure at UCF and wish he and his wife, Kristi, the very best in their future endeavors.” Malzahn finished with a 28-24 mark in four years at UCF, the last two ending with losing records after joining the Big 12. He coached at Auburn for eight seasons in 2020. Malzahn replaces offensive coordinator/offensive line coach Alex Atkins, who was fired Nov. 10 following a 52-3 loss at Notre Dame. The Seminoles rank 131st out of 134 in total offense and scoring offense, averaging 15.8 points a game heading into Saturday night's rivalry game against Florida. The Seminoles (2-9) have dropped significantly since going 13-1 last season and winning the Atlantic Coast Conference championship. The Knights, meanwhile, struggled mightily in Malzahn's fourth season — most of it because of quarterback issues. Four players took snaps from center as the Knights finished 2-7 in conference play. It was the program's worst record since going 0-12 in former coach George O’Leary’s final season in 2015. Florida State coach Mike Norvell fired Atkins, defensive coordinator Adam Fuller and receivers coach Ron Dugans amid the Seminoles' season-long skid. ___ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up . AP college football: and Mark Long, The Associated Press
'Brazenness': Report claims super-rich have shrugged off fears that used to contain them
‘Executions’: Frightening next steps in SyriaIreland's two large centre-right parties look on course to be returned to power but they will likely need at least one smaller partner to secure a majority, raising questions about the stability of the next government. Login or signup to continue reading That could leave the parties facing prolonged negotiations or an unstable coalition ahead of the inauguration of US President-elect Donald Trump, whose pledge to slash corporate tax and impose tariffs poses a threat to the Irish economy. After voters went to the polls on Friday, governing parties Fine Gael and Fianna Fail were on 20.5 per cent and 21.9 per cent of first-preference votes respectively, according to a tally by Virgin Media News with left-wing Sinn Fein on 19.1 per cent. With the two centre-right parties ruling out a deal with Sinn Fein, the main question was how close to the 88 seats needed for a majority the pair can get - and whether they would need one or two more coalition parties to get over the line. "Clearly there is a route there to government," Fianna Fail's leader and deputy prime minister, Micheal Martin, told state broadcaster RTE when asked about a deal with Fine Gael and another party. "But a lot will depend ... on how many seats the respective parties get." It was "far too early" to discuss possible coalition partners or whether he might be the next prime minister, he said. Fianna Fail could get as many as 48 seats and Fine Gael could take 39, leaving them on the cusp of 88 seats, former Trinity College Dublin political science professor Michael Gallagher told RTE, citing vote tallies. The most obvious candidates for a coalition partner would be centre-left parties Labour and the Social Democrats, who Gallagher said could take eight seats each. But if those numbers are lower when votes are counted under Ireland's complex system of proportional representation, four parties could be needed to form a government, making it much more fragile. A clear outline of final seat numbers was not expected to emerge until Sunday. The current junior coalition party, the Greens, were in danger of losing all 12 of their seats, party leader Roderic O'Gorman said. Prime Minister Simon Harris called the election on the heels of a 10.5 billion euro ($A17 billion) giveaway budget that began to put money into voters' pockets during the campaign, largesse made possible by billions of euros of foreign multinational corporate tax revenues. However, a campaign full of missteps for his Fine Gael party, culminating last weekend in a viral clip of Harris walking away from an exasperated care worker, cost them their pre-election lead. The government parties also faced widespread frustration during the campaign at their inability to turn the healthiest public finances in Europe into better public services. Sinn Fein, the former political wing of the Irish Republican Army, appeared on course to lead the next government a year ago but suffered a slide in support from 30 per cent to 35 per cent, in part due to anger among its working-class base at relatively liberal immigration policies. Fine Gael and Fianna Fail, former rivals that have between them led every government since the foundation of the state almost a century ago, agreed to share the role of prime minister during the last government, switching roles halfway through the five-year term. Australian Associated Press DAILY Today's top stories curated by our news team. Also includes evening update. WEEKDAYS Grab a quick bite of today's latest news from around the region and the nation. WEEKLY The latest news, results & expert analysis. WEEKDAYS Catch up on the news of the day and unwind with great reading for your evening. WEEKLY Get the editor's insights: what's happening & why it matters. WEEKLY Love footy? We've got all the action covered. WEEKLY Every Saturday and Tuesday, explore destinations deals, tips & travel writing to transport you around the globe. WEEKLY Get the latest property and development news here. WEEKLY Going out or staying in? Find out what's on. WEEKDAYS Sharp. Close to the ground. Digging deep. Your weekday morning newsletter on national affairs, politics and more. WEEKLY Follow the Newcastle Knights in the NRL? Don't miss your weekly Knights update. TWICE WEEKLY Your essential national news digest: all the big issues on Wednesday and great reading every Saturday. WEEKLY Get news, reviews and expert insights every Thursday from CarExpert, ACM's exclusive motoring partner. TWICE WEEKLY Get real, Australia! Let the ACM network's editors and journalists bring you news and views from all over. AS IT HAPPENS Be the first to know when news breaks. DAILY Your digital replica of Today's Paper. Ready to read from 5am! DAILY Test your skills with interactive crosswords, sudoku & trivia. Fresh daily!
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