Federal judge halts Keystone XL construction pending new environmental analysis

first_imgFederal judge halts Keystone XL construction pending new environmental analysis FacebookTwitterLinkedInEmailPrint分享CNBC:A federal judge in Montana halted construction of the Keystone XL oil pipeline on Thursday on the grounds that the U.S. government did not complete a full analysis of the environmental impact of the TransCanada project.The ruling deals a major setback for TransCanada and could possibly delay the construction of the $8 billion, 1,180 mile (1,900 km) pipeline.The ruling is a victory for environmentalists, tribal groups and ranchers who have spent more than a decade fighting against construction of the pipeline that will carry heavy crude to Steele City, Nebraska, from Canada’s oil sands in Alberta.U.S. District Court Judge Brian Morris’ ruling late on Thursday came in a lawsuit that several environmental groups filed against the U.S. government in 2017, soon after President Donald Trump announced a presidential permit for the project. Morris wrote in his ruling that a U.S. State Department environmental analysis “fell short of a ‘hard look”‘ at the cumulative effects of greenhouse gas emissions and the impact on Native American land resources.He also ruled the analysis failed to fully review the effects of the current oil price on the pipeline’s viability and did not fully model potential oil spills and offer mitigations measures. In Thursday’s ruling, Morris ordered the government to issue a more thorough environmental analysis before the project can move forward.More: US judge halts construction of the Keystone XL oil pipelinelast_img read more

Loan Zone: Education program boosts member financial health and revenue

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Community development credit unions are mission-driven institutions that serve low-income, underserved communities across the country. Reflecting the needs of their members and communities, CDCUs specialize in high impact products like payday loan alternatives and credit-builder loans, as well as such key supportive services as financial counseling and education. Historically, these supportive services have been viewed as charitable activities and a cost center for financial institutions. However, new research conducted by Inclusiv, New York, and Neighborhood Trust Financial Partners, New York, has revealed that financial counseling can generate a positive return on investment for credit unions.Inclusiv and Neighborhood Trust conducted their research through Pathways to Financial Empowerment, a joint program launched in 2015 that combines technology-supported financial counseling with credit union products. The Pathways platform enables holistic and detailed impact analysis by combining data from multiple sources including credit report and score plus credit union account data.Clients served through the Pathways program are considered high-risk by mainstream financial services. They generally have low incomes, poor credit and high debt. Those clients who took out new loan products early in the program have a median income of only $28,000 and a median credit score under 600. However, as the research shows, by working one-on-one with members to improve their credit and financial health, financial counselors are able to convert these high-risk clients into excellent borrowers. continue reading »last_img read more