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U.S. Bancorp announced it has promoted P.W. “Bill” Parker to the position of vice chairman and chief risk officer, overseeing all risk and compliance functions at U.S. Bank. Parker was previously chief credit officer for U.S. Bancorp, an area he will continue to oversee in his new role. “U.S. Bank enjoys a well-deserved reputation as a leader among banks for our…

A.M. Best Co. has revised the outlook to stable from negative and affirmed the financial strength rating of A- and issuer credit rating of “a-” of Chautauqua Patrons Insurance Company. Partially offsetting Chautauqua’s positive rating factors is its single-state geographic concentration of business in New York, which exposes it to the potential impact of…

Allegiance Administrators announced that Joe Ryan rejoined its sales team in the position of Senior Vice President of Sales. Ryan, along with his counterpart Senior Vice President of Development, Joseph Suttera, will be responsible for assisting Allegiance’s agent partners with growing their business as well as signing new agent partners to the…

The rating reflects the company’s strong market shares in New York and Connecticut, organization-wide capitalization metrics that are better than Fitch’s median’ BBB’ rating category guidelines, and profitability metrics that are consistent with Fitch’s’ BBB’ rating category median guidelines. The ratings also reflect the effect of the company’s…

The Board of Directors of The Coca-Cola Company recently elected Ed Steinike as a Senior Vice President and Robert J. Jordan Jr. as a Vice President. Steinike began his tenure at the Company as Chief Technology Officer in 2002, and served as the Company’s Chief Development Officer and CIO of the North America business from 2004 to 2007. He rejoined the Company in…

In a release on December 13, Fitch noted that it previously rated Cenlar between March 2004 to May 2008 for its primary prime, Alt-A, and specialty-subservicer products, but in February 2009, the servicer indicated that it would no longer be providing information to maintain the ratings since it was not actively involved in new RMBS transactions at that time and…

Bankruptcy Judge Martin Glenn of the United States Bankruptcy Court for the Southern District of New York has confirmed the Joint Chapter 11 Plan proposed by Residential Capital and the Creditors’ Committee. In a release, Kramer Levin Naftalis& Frankel noted:. Kramer Levin Naftalis& Frankel represented the Creditors’ Committee as co-proponent of the Plan.

In a release on December 13, A.M. Best noted that the revised outlook reflects AvMed’s restoration of profitability and its much improved risk-adjusted capital level in 2012, as well as continued favorable operating and capitalization trends reported through late 2013, following a significant net loss and associated decline in capital several years ago.

The closed-end funds listed below, which are advised by U.S. Bancorp Asset Management, Inc., declared their January distributions. Includes a normal monthly distribution of $0.0625 and $0.0857 from long-term capital gains. Under each fund’s plan, fund shares will be purchased on the open market when the price of the fund’s shares on the New York Stock Exchange…

Zubie, a connected car service provider focused on maximizing connected car capabilities for consumers and businesses, announced it has raised $10 million in Series A funding from investors; Castrol innoVentures, the innovation arm of global lubricant giant Castrol; communications company Comporium, Inc., and OpenAir Equity Partners.

California State Teachers’ Retirement System announced the release of the Green Initiative Task Force’s seventh annual report detailing investment activities in environmental risk management and seized opportunities. According to a release, the Green Initiative Task Force, known as the “Green Team,” was established in 2007 to identify, analyze and propose…

A.M. Best Co. has downgraded the financial strength rating to A- from A and the issuer credit rating to “a-” from “a” of Nevada General Insurance Company. NGIC is a non-standard personal automobile writer in Nevada, New Mexico, California and Arizona and is a wholly-owned subsidiary of Mutual of Enumclaw Insurance Company. The rating downgrades reflect NGIC’s…

Teamsters Local 727 announced Service Corp. International refused an interest arbitration offer made by the Teamsters to end a five- month lockout of Chicago funeral directors and drivers. In a release on Dec. 12, the Union said that SCI, which operates under the Dignity Memorial brand name, rejected the arbitration deal after turning down an unconditional…

U.S. Bancorp has promoted P.W. “Bill” Parker to the position of vice chairman and chief risk officer, overseeing all risk and compliance functions at U.S. Bank. “U.S. Bank enjoys a well-deserved reputation as a leader among banks for our operating, credit and risk profile,” said Richard Davis, chairman, president and chief executive officer of U.S. Bancorp.

The Commodity Futures Trading Commission published the following notice in the Federal Register:. Comparability Determination for Australia: Certain Entity-Level Requirements. The following is the analysis and determination of the Commodity Futures Trading Commission regarding certain parts of a request by the Australian Bankers Association that…

The Commodity Futures Trading Commission published the following notice in the Federal Register:. Comparability Determination for Canada: Certain Entity-Level Requirements. The following is the analysis and determination of the Commodity Futures Trading Commission regarding certain parts of a joint request by the Canadian Bankers Association, five…

SHAMOKIN- City police officers have responded to more than 6,500 9-1-1 calls in 2013, a number still rising while the year comes to an end. At more than $1.2 million, it’s not cheap for the city government to fund a police force. It’s by far the most expensive service offered by Shamokin’s governing body, making up nearly half the city’s operating budget.