Bill Would Bring Back Regulations To Prevent Banks From Failing

Capitol Comments

Senator Cory Booker

WASHINGTON, D.C. – U.S. Senators Cory Booker and Bob Menendez (both D-N.J.) joined U.S. Senator Elizabeth Warren (D-MA), U.S. Representative Katie Porter (D-CA-47), and dozens of colleagues in both the Senate and House of Representatives to introduce the Secure Viable Banking Act, legislation that would repeal Title IV of the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 following the collapse of

Silicon Valley Bank (SVB) and Signature Bank. Senators Booker and Menendez, both longtime consumer protection advocates, were outspoken about the dangers of passing the Economic Growth, Regulatory Relief, and Consumer Protection Act five years ago, which reduced critical oversight and capital requirements for large banks.

“Congress should have never rolled back regulations put into place to prevent exactly the kind of bank failures we saw play out in recent days. We must now act to restore these protections to strengthen our banking system, safeguard our economy, and ensure that the hard-earned money of families and small businesses is better protected,” said

Senator Booker.

“Five years ago, I stood on the Senate floor to warn my colleagues that only in Washington would anyone think it’s a good idea to mark the ten-year anniversary of the 2008-2009 financial crisis by passing S.2155, a bill that dared big banks to get bigger and increased risk to taxpayers,” said Senator Menendez. The Trump banking law rolled back ‘too big to fail’ rules and created conditions for collapse of Silicon Valley Bank.

“After this weekend’s collapse of SVB and Signature, the world saw why it was misguided to pass S.2155, which rolled back critical Dodd-Frank regulations for banks like Silicon Valley Bank, including enhanced prudential standards and stress tests. We must immediately repeal Title IV of S.2155 to ensure that we restore needed oversight of these systemically important institutions that have the potential to wreck our economy and the livelihoods of American families. We cannot afford to get this wrong and must act with the urgency this moment requires.”

Title IV of the Economic Growth, Regulatory Relief, and Consumer Protection Act raised the asset threshold at which a bank is considered and regulated as a “systemically important financial institution” to $250 billion, exempting SVB and other mid-sized banks from regular stress testing and enhanced liquidity, risk management, and resolution plan, or “living will,” requirements. The lawmakers’ new bill would repeal these dangerous regulatory rollbacks, which invited banks to load up on risk and increase profits, and would restore critical Dodd-Frank protections.

Ocean County Approves Purchase Of New Voting Machines

By Bob Vosseller

OCEAN COUNTY – The County will be buying new voting machines that will be put into use during the Primary Election in June.

Commissioner Virginia E. Haines, liaison to the Ocean County Board of Elections said 850 Election Day voting machines and 72 early voting machines are being purchased from Election Systems and Software at a cost of $9.4 million.

Haines said, “following a thorough review of voting machines available to us, we chose Election Systems and Software based on reliability and efficiency. This purchase also includes all ancillary equipment, software, licensing and maintenance costs.”

The Ocean County Board of Elections conducted an in-person assessment of New Jersey certified election machines at the Toms River branch of the Ocean County Library, on November 21.

Commissioner Haines said that based on the presentations, “it was determined the best machine would be Election Systems and Software, LLC, Express Vote XL Voting systems.” County officials noted these machines provid- ed greater ease for casting a ballot especially during early voting when a paper ballots are produced as part of the voting process.

“By replacing all of our voting machines we will provide uniformity and familiarity for the voters. Training our poll workers will be easier and we will not have to merge data between two different brands of voting machines,” Haines said.

The purchase will involve a newer software version of the Election Systems and Software machines which include greater safety protocols ensuring ballots can only be read once.

Director of the Ocean County Board of Commissioners Joseph H. Vicari said “the new machines have received a thorough review by the Board of Elections and the Board of Commissioners. It’s important our voters know we did our due diligence before deciding on which new voting machine would be purchased.”

It is anticipated that the County will receive a $2 million credit from Election Systems and Software for the voting machines it currently has.

The new voting machines are expected to be delivered in the next several weeks.

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Dogs

: Continued From Page 1 their personal dogs returned to them. They claimed that when the animals were seized by authorities, seven of the dogs personally belonged to them and wanted them released back into their care.

On February 21, an agreement was met that Nycz’s two dogs were officially surrendered to the state and would be put up for adoption. Additionally, Assistant Prosecutor Alexander Becker confirmed that one of the dogs was never under custody of the state, so this decision involves the remaining four dogs.

On March 14, an agreement was settled that Lonczak’s four dogs were also officially surrendered to the state and would be put up for adoption.

At this time, a hearing is set for April 18 to discuss the animal cruelty and child endangerment charges.

Donna Polizzi, president of NJSH Pet

Rescue, was one of several concerned citizens who attended the hearing advocating for the dogs’ wellbeing. After hearing the decision, Polizzi expressed her gratification knowing the dogs can now be adopted into a loving home.

“They’ve been prisoners for two years, some of them even longer. Now they can start their lives,” Polizzi said.

NJSH Pet Rescue took in three dogs from the hoarding situation. Polizzi said that one was just recently adopted after they worked for two months to bring the dog back to a healthy state. The organization is still working with the other two dogs who have health and ear issues.

“The dedication from our volunteers and our training have been amazing. We spend every day working on something,” Polizzi said,

“There has to be some kind of justice for these dogs. I’m hoping there will be some kind of legislation in time that will protect the animals so that this doesn’t happen again,” Polizzi added.

Local Pets Available For Adoption

BRICK – Maite is 5-years-old and 35 lbs. Maite loves long walks and playtime. Perfect companion who loves adventures and will gladly nap with you afterwards. Best with kids ages 12 and older.

You can view this pet and more at jerseyshoreanimalcenter.org. They are located at 185 Brick Boulevard and can be reached at 732-920-1600.

What is a “Mom & Pop” Business?

A small, independent, family owned, controlled and operated business. It has a small amount of business volume. It is not franchised.

“ Open for business in a single location.”

So if your “Mom or Pop” need the services of rehabilitation and nursing services, it just makes sense to go to a “Mom & Pop.”

Here is a picture of a true “Mom & Pop” business: nursing and rehabilitation center

1579 Old Freehold Rd.

Toms River, NJ 08753

732-505-4477 www.rosegardennj.com

New Police Officers Sworn In

BRICK – Mayor Lisa Crate had the honor to swear in Brick Township’s newest Special Police Officers. These officers perform important duties and provide essential support to the Police Department and help keep the community safe. Congratulations to our newest SPOs and we wish you the best.

Pictured are Mayor Crate, new Special Police Officers and Brick Township Police Chief David Forrester.

LAS Hosts Steve Zazenski Watercolor Workshop

BRICK – The Laurelton Art Society is having a five-hour workshop on March 25 with Steve Zazenski.

Zazenski is a professional award-winning artist since 1978. He will be demonstrating the intricacies of watercolor in a step-bystep paint along of a landscape. Seating is limited to allow for individual workspace. A reservation is required. All artistic levels are welcome. The fee for non-members is $40.

This event will be held at the First Baptist Church of Laurelton’s Glide Hall, 1842 Route 88, Brick, on March 25 between 10 a.m. and 3 p.m.

For further information please contact Exhibit Chairwoman Trisha at aroundtheblock8@yahoo.com.

13th Annual Special Education Resources and Transition Fair

BRICK – BTPS Presents the 13th Annual Special Education Resources and Transition Fair on March 30 from 5 to 7 p.m. at Brick Township High School Library. This event is free and open to the public. Q & A will be offered to answer any transition related topics.

For more information, contact Darla Novick/Sherri Ryan at 732-785-3000 ext. 2013 dnovick@brickschools.org or Tiffany Aguayo at 732-785-3000 ext. 3098 taguayo@brickschools.org.

Adult Social Club Casino Trip To

BRICK – The St. Dominic’s Adult Social Club is sponsoring a trip to Tropicana Casino in Atlantic City on April 13. The cost of the trip is only $35 and includes a tip for the bus driver. You will receive back $20 in slot cash from Tropicana. Plan on boarding the bus at the church no later than 9:15 a.m.

If interested or in need of more information, call Terri or Adam Drapczuk 732255-7242. You can send your check, made out to St. Dominic’s Adult Social Club, to T. Drapczuk 19 Lawndale Drive, Brick, NJ 08723 and you will be placed on the reserved list for the trip.