Free Newsletter
Recent Articles from Claude Solnik
House of cards
LONG ISLAND — Banks and retailers are getting smarter, rolling out automated teller machines with chips designed to provide more security than magnetic strips. But in a result you can file under “The price of progress,” the shift at least for the moment is also resulting in snafus and unanticipated consequences and costs. Customers are […]
Financial Commentary: The wealthy tap life insurance as asset long before payout
To most people, life insurance only becomes valuable when the policy pays out, providing cash for others. But some are increasingly using policies as an investment vehicle, pouring in money to see it accumulate tax free and save securely. While nearly anyone can pour cash into their policy, the very rich are using it to […]
Financial News: Naming names
New money laundering regulations being implemented in the United Kingdom and in the works across the European Union are expected to hit home for private U.S. companies with operations there. All companies in the U.K. are being required to file documents identifying people with significant control of the business. That will impact both U.S. firms […]
Monetary Matters: Virtual lending companies mean business across the country
As online lending continues to grow, attracting entrepreneurs and large financial institutions, it is turning into a growing source of work for accountants, lawyers and those providing financial advice to investors. Any growing sector can attract service providers, but online lending, because of its intricacies, issues, regulations and large sums, is proving to be a […]
Medical Matters: State mandates electronic prescriptions
Paper prescription pads are now a thing of the past in New York State – at least in theory. New York State as of March 27 began requiring physicians, pharmacists, dentists and other healthcare providers to prescribe medications electronically rather than on paper, except in a dozen special circumstances that the state outlined. The far-reaching […]
Credit unions ramping up mortgage lending
Credit unions are increasing their mortgage lending, boosted by growing awareness and demand, increased lending staff, new regulations regarding counseling and highly competitive rates. A report issued by TransUnion indicated credit unions provided 11 percent of U.S. mortgage originations for the first quarter of 2015, still a small portion, but a big jump from 7 […]
School testing company Pearson has checkered past
Although Pearson, the nation’s biggest testing company, has come under scrutiny in New York for a $7.7 million settlement with the state, the firm has faced numerous problems nationwide, leading to millions more in settlements. In addition to that sum paid to settle charges that it used its charity in ways that could influence educators, […]
Goodwill accounting giving biz a break
Accounting related to acquisitions is getting easier – and often cheaper – thanks to new rules that no longer require firms to make annual calculations related to the value of the acquired business. Regulators are giving private companies a break by eliminating requirements that they calculate annually the value of goodwill related to acquisitions. According […]
Costs loom as FASB rethinks revenue reporting
The nation’s primary maker of accounting rules is changing the way companies calculate revenue – a potentially massive transition creating more work and expense for reporting firms. The Financial Accounting Standards Board, a Norwalk, Conn.-based nonprofit that sets U.S. accounting standards, developed the new revenue rules with the London-based International Accounting Standards Board. The ne[...]
Banks, processors bet on microchips
The biggest bet on chips these days isn’t at the casino. Amid concerns over the ease with which credit and debit cards can be counterfeited, banks, retailers and firms that process transactions are shifting to newer, more costly cards with micro-chips that are more difficult to duplicate. They’re buying new software and upgrading and replacing […]
New regs bring worry over qualified mortgages
New government regulations set to kick in after the New Year are re-creating two classes of borrowers. Created under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the regulations — set to take effect Jan. 10 — will apply to nearly all banks that make mortgage loans. The idea is to encourage banks to […]
Hurricane-damaged cars flood U.S. roads
A tidal wave of more than 9,000 flood-damaged cars are on the roads in New York and nearly 210,000 are chugging along nationwide, according to a new study by Carfax. But titles in states such as New York don’t let buyers know the vehicles were caught in a flood — and some are “title washed” […]
Case Digests
- NYS Advisory Committee on Judicial Ethics – Attorney misconduct: Opinion 22-164
- NYS Advisory Committee on Judicial Ethics – Independently written bench book: Opinion 22-163
- Fourth Department – Suppression: People v. Saeli
- Second Circuit – RICO: Horn v. Medical Marijuana Inc.
- NYS Advisory Committee on Judicial Ethics – Uncompensated interview: Opinion 22-159
- NYS Advisory Committee on Judicial Ethics – Uncompensated guest speaker: Opinion 22-158
- Fourth Department – Negligent performance: Rosenthal v. Syracuse University, et al.
- Second Circuit – Visual Artists Rights Act: Kerson v. Vermont Law School Inc.
- NYS Advisory Committee on Judicial Ethics – Former foreclosure referee: Opinion 22-157
- NYS Advisory Committee on Judicial Ethics – College honorarium: Opinion 22-156
- Second Circuit – Reasonable accommodation: Tafolla v. Heilig
- Fourth Department – Labor Law: Primisch v. Peroxychem LLC
Law News
- Appeals court upholds Supreme Court ruling
- Assistant district attorney appointed City Court judge by Rochester mayor
- Murder conviction affirmed despite trial judge error
- NY appeals court upholds conviction in burglary case
- Federal lawsuit reinstated against jail officer over strip search, delayed release
- Hyzon to pay $25M penalty to settle alleged fraud charges by SEC
- NY appeals court reinstates lawsuit over contract to remove snow
- Fourth Department affirms $400K judgment in contract dispute
Polls
Loading ...