Archive for February, 2015

FinCEN Penalizes Pennsylvania Bank for Failing to Report Suspicious Activity Tied to Judicial Corruption

Comments Off | 02-28-2015

WASHINGTON, D.C. –The Financial Crimes Enforcement Network (FinCEN) assessed a $1.5 million civil money penalty against the First National Community Bank of Dunmore, Pennsylvania (FNCB) for willfully violating the Bank Secrecy Act (BSA). The Bank admitted that it failed to file suspicious activity reports on transactions involving illicit proceeds from a judicial corruption scheme – [...]

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Michigan Psychotherapy Clinic Owner Sentenced to 87 Months in Prison for his Role in $3.3 Million Medicare Fraud Scheme

Comments Off | 02-28-2015

A former Michigan resident who directed a $3.3 million psychotherapy fraud scheme, was sentenced today to 87 months in prison, announced Assistant Attorney General Leslie R. Caldwell of the Justice Department’s Criminal Division, U.S. Attorney Barbara L. McQuade of the Eastern District of Michigan, Special Agent in Charge Paul M. Abbate of the FBI Detroit [...]

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World Bank approves $100 million in additional financing for poverty reduction in six Vietnamese provinces

Comments Off | 02-28-2015

WASHINGTON, D.C., February 27, 2015—The World Bank’s Board of Executive Directors approved $100 million in additional financing for an ongoing project to help improve living standards for poor people in six provinces in Vietnam’s Northwest, the nation’s poorest region.
The increased financing bolsters poverty reduction efforts by the Vietnamese government in the provinces of Hoa Binh, [...]

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Secretary-General Urges Consumers, Governments to Treat Crimes against Wildlife as ‘Threat to Our Sustainable Future’, In Message for International Day

Comments Off | 02-27-2015

Following is UN Secretary-General Ban Ki-moon’s message for World Wildlife Day, observed on 3 March:
The United Nations General Assembly has proclaimed 3 March — the anniversary of the adoption of the Convention on International Trade in Endangered Species of Wild Fauna and Flora — as World Wildlife Day. On this second observance of the [...]

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M&A Strategy: Ensuring Consolidation and Interoperability of Financial and Clinical Systems

Comments Off | 02-27-2015

According to a 2014 study by The Advisory Board Company, the number of hospital and health system M&A transactions almost doubled over the last four years. The study also showed that 88 percent of the hospital and health system executives who were interviewed plan to pursue a merger or acquisition within the next 12 months. [...]

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Pioneering funding for pioneering schools

Comments Off | 02-27-2015

NEW YORK—The Local Initiatives Support Corporation (LISC) is helping expand educational opportunities for low-income children in Newark and Albany by tapping a unique federal credit program to finance charter schools. These are the first such loans in the country.
LISC recently closed on more than $10 million in financing to develop facilities for schools that will [...]

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MetLife Home Loans LLC, Successor to MetLife Bank N.A., to Pay $123.5 Million to Resolve Alleged Federal Housing Administration Mortgage Lending Violations

Comments Off | 02-26-2015

MetLife Home Loans LLC has agreed to pay the United States $123.5 million to resolve allegations that MetLife Bank N.A. (MetLife Bank) violated the False Claims Act by knowingly originating and underwriting mortgage loans insured by the U.S. Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) that did not meet applicable requirements, [...]

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Detroit Area Patient Recruiter and Physical Therapist Convicted in $1.6 Million Medicare Fraud Scheme

Comments Off | 02-26-2015

A federal jury in Detroit today convicted a patient recruiter and a physical therapist for their roles in a $1.6 million Medicare fraud scheme, announced Assistant Attorney General Leslie R. Caldwell of the Justice Department’s Criminal Division, U.S. Attorney Barbara L. McQuade of the Eastern District of Michigan, Special Agent in Charge Paul M. Abbate [...]

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The transatlantic relationship in financial services: a force for positive change

Comments Off | 02-26-2015

Good afternoon. It is a great pleasure to be here at the Brookings Institution, a think-tank as respected as it is long-lived. Over the last century, empires have come and gone, the world order has changed but Brookings has sailed on, not just commenting on events but shaping them.
For it was the Brookings Institution which [...]

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Britain must boost productivity to complete post-crisis recovery, says OECD (International Business Times UK)

Comments Off | 02-25-2015

To read the full article, visit the International Business Times website.
“Adam Memon, head of economic research at the Centre for Policy Studies (CPS), shared some opinions with Philpott.
He told IBTimes UK that flagging productivity had been the “key” problem with Britain’s economic recovery.
“Despite the improvement in employment and economic growth, because productivity has not really [...]

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