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Category: housing

  • MIL-OSI Security: U.S. Army Major Sentenced to 70 Months for Smuggling Firearms to Ghana

    Source: Office of United States Attorneys

    RALEIGH, N.C. – Kojo Owuso Dartey, age 42, of Fort Liberty, was sentenced to 70 months  in prison and three years of supervised release for false statements made to an agency of the United States, false declarations before the court, conspiracy, dealing in firearms without a license, delivering firearms without notice to the carrier, smuggling goods from the United States, and illegally exporting firearms without a license.  On April 23, 2024, Dartey was found guilty by a jury after trial.

    According to court records and evidence presented at trial, Kojo Owusu Dartey, 42, provided a tip that resulted in a 16-defendant marriage fraud scheme between soldiers on Fort Liberty and foreign nationals from Ghana.  In preparation for and at the trial of U.S. v. Agyapong held between June 28 and July 2, 2021, Dartey lied to federal law enforcement about his sexual relationship with a defense witness and lied on the stand and under oath about the relationship.  During that trial, Dartey purchased seven firearms in the Fort Liberty area and tasked a U.S. Army Staff Sergeant at Fort Campbell, Kentucky, to purchase three firearms there and send them to Dartey in North Carolina.  Dartey then hid all the firearms inside blue barrels underneath rice and household goods and with assistance from an Army Chief Warrant Officer smuggled the barrels out of the Port of Baltimore, Maryland, on a container ship to the Port of Tema in Ghana.  The Ghana Revenue Authority recovered the firearms and reported the seizure to the DEA attaché in Ghana and the ATF Baltimore Field Division.

    Daniel Bubar, Acting U.S. Attorney for the Eastern District of North Carolina, made the announcement after sentencing by Chief U.S. District Judge Richard E. Myers II. The Bureau of Tobacco, Alcohol and Firearms (ATF), Army Criminal Investigation Division (CID), and the U.S. Department of Commerce’s Office of Export Enforcement investigated the case. Assistant U.S. Attorney Gabriel J. Diaz prosecuted the case.

    Related court documents and information can be found on the website of the U.S. District Court for the Eastern District of North Carolina or on PACER by searching for Case No.5:23-cr-00165-M-RJ-1.

    MIL Security OSI –

  • MIL-OSI Security: February Federal Grand Jury 2024-A Indictments Announced

    Source: Office of United States Attorneys

    United States Attorney Clint Johnson today announced the results of the February Federal Grand Jury 2024-A Indictments.

    The following individuals have been charged with violations of United States law in indictments returned by the Grand Jury. The return of an indictment is a method of informing a defendant of alleged violations of federal law, which must be proven in a court of law beyond a reasonable doubt to overcome a defendant’s presumption of innocence.

    Derrick Adams. Felon in Possession of a Firearm; Possession of Marijuana with Intent to Distribute; Maintaining a Drug-Involved Premises. Adams, 45, of Tulsa, is charged with possessing a firearm, knowing he was previously convicted of a felony.  He is further charged with knowingly possessing marijuana with intent to distribute and maintaining a residence for the purpose of drug distribution. The Drug Enforcement Administration and the Oklahoma Bureau of Narcotics are the investigative agencies. Assistant U.S. Attorney Attila Bogdan is prosecuting the case. 25-CR-036

    Odon Ambros-Cagan. Unlawful Reentry of a Removed Alien. Ambros-Cagan, 24, a Mexican national, is charged with unlawfully reentering the United States after having been previously removed in Mar. 2020. U.S. Immigration and Custom’s Enforcement (ICE) and Enforcement and Removal Operations (ERO) are the investigative agencies. Assistant U.S. Attorney Augustus Forster is prosecuting the case. 25-CR-023

    Christopher Ray Barrett. Carjacking; Carrying, Using, and Brandishing a Firearm During and in Relation to a Crime of Violence; Felon in Possession of a Firearm and Ammunition. Barrett, 40, of Tulsa, is charged with taking a vehicle by force and brandishing a firearm during a crime of violence. Further, Barrett is charged with possessing a firearm and ammunition, knowing he was previously convicted of felonies The Bureau of Alcohol, Tobacco, Firearms and Explosives and the Tulsa Police Department are the investigative agencies. Assistant U.S. Attorneys Mike Flesher and Jessica Wright are prosecuting the case. 25-CR-024

    Brandon Allen Boone. First Degree Burglary in Indian Country; Assault of an Intimate/Dating Partner by Strangling and Attempting to Strangle in Indian Country; Attempted Witness Tampering by Corrupt Persuasion. Boone, 25, of Bristow and a member of the Muscogee (Creek) Nation, is charged with breaking into an occupied home and strangling an intimate dating partner. Further, Boone attempted to prevent the victim from speaking with law enforcement officials. The Bureau of Indian Affairs and the Bristow Police Department are the investigative agencies. Assistant U.S. Attorneys Mallory Richard and Emily Dewhurst are prosecuting the case. 25-CR-025

    Dylan Lee Boyd. Aggravated Sexual Abuse by Force and Threat in Indian Country; Sexual Abuse of a Minor in Indian Country; Abusive Sexual Contact with a Minor in Indian Country; Commission of Felony Sex Offense Involving a Minor by a Registered Sex Offender (superseding). Boyd, 27, of Quapaw and a member of the Miami Tribe of Oklahoma, is charged with knowingly engaging in a sexual act by force and threat with a minor victim under 16 years old in Nov. 2020.  He allegedly knowingly engaged in sexual abuse and abusive sexual contact with the minor victim. Boyd is further charged with committing a felony offense with a minor while being required to register as a sex offender. The Quapaw Nation Marshals Service is the investigative agency. Assistant U.S. Attorney Stacey P. Todd is prosecuting the case. 24-CR-114

    Luis Fernando Contreras-Luviano. Unlawful Reentry of a Removed Alien. Contreras-Luviano, 39, a Mexican national, is charged with unlawfully reentering the United States after having been previously removed in May 2022. U.S. Immigration and Custom’s Enforcement (ICE) and Enforcement and Removal Operations (ERO) are the investigative agencies. Assistant U.S. Attorney Augustus Forster is prosecuting the case. 25-CR-026

    Jose Guadalupe Franco-Colchado. Unlawful Reentry of a Removed Alien. Franco-Colchado, 27, a Mexican national, is charged with unlawfully reentering the United States after having been previously removed in Mar. 2019. U.S. Immigration and Custom’s Enforcement (ICE) and Enforcement and Removal Operations (ERO) are the investigative agencies. Assistant U.S. Attorney Tyson McCoy is prosecuting the case. 25-CR-027

    Steven Leon Gibbs, Jr. First Degree Burglary in Indian Country; Assault with a Dangerous Weapon with Intent to do Bodily Harm in Indian Country. Gibbs, 34, of Glenpool and a member of the Muscogee (Creek) Nation, is charged with breaking into a home, and assaulting the victim with a dangerous weapon. The FBI and Tulsa Police Department are the investigative agencies. Assistant U.S. Attorneys Melissa Weems and Stephen Flynn are prosecuting the case. 25-CR-035

    Santiago Lopez Gonzalez. Unlawful Reentry of a Removed Alien. Gonzalez, 43, a Mexican national, is charged with unlawfully reentering the United States after having been previously removed in Jan. 2023. U.S. Immigration and Custom’s Enforcement (ICE) and Enforcement and Removal Operations (ERO) are the investigative agencies. Assistant U.S. Attorney Mandy Mackenzie is prosecuting the case. 25-CR-028

    Jason Lynn. Second Degree Murder in Indian Country. Lynn, 31, transient and a member of the Choctaw Nation of Oklahoma, is charged with unlawfully killing Alan Underwood in Jan. 2025. The FBI and Tulsa Police Department are the investigative agencies. Assistant U.S. Attorneys Kenneth Elmore and Stephen Flynn are prosecuting the case. 25-CR-038

    Simon Martinez-Gonzales. Kidnapping of a Child. Martinez-Gonzales, 44, a Mexican National, is charged with kidnapping a minor child in Dec. 2024. The Homeland Security Investigations, the U.S. Border Patrol, Webb County Sheriff’s Office, and the Bartlesville Police Department are the investigative agencies. Assistant U.S. Attorneys Mallory Richard and Ashley Robert are prosecuting the case. 25-CR-029

    Terry Lee Roland, Jr. Assault with a Dangerous Weapon with Intent to do Bodily Harm in Indian Country; Carrying, Using, and Brandishing a Firearm During and in Relation to a Crime of Violence; Felon in Possession of a Firearm and Ammunition; Possession of a Firearm and Ammunition After a Misdemeanor Conviction of Domestic Violence. Roland, 33, of Tulsa and a member of the Muscogee (Creek) Nation, is charged with assaulting a victim with a firearm and brandishing that firearm during a crime of violence. He is further charged with possessing a firearm and ammunition after being convicted of felonies and a domestic violence misdemeanor. The FBI and Tulsa Police Department are the investigative agencies. Assistant U.S. Attorneys Stephen N. Scaife and Valeria Luster are prosecuting the case. 25-CR-037

    Zakkary Shawn Wayne Romannose. Assault with Intent to Commit Murder in Indian Country; Maiming in Indian Country; Assault Resulting in Serious Bodily Injury in Indian Country. Romannose, 32, of Vinita and a member of the Cheyenne and Arapaho Tribe, is charged with attempting to commit murder. He is further charged with torturing the victim by maiming him, which resulted in serious bodily injury. The FBI, Mayes County Sheriff’s Office, and the Cherokee Nation Marshal Service are the investigative agencies. Assistant U.S. Attorney Kate Brandon is prosecuting the case. 25-CR-034

    Luis Ubense Ulloa. Unlawful Reentry of a Removed Alien. Ulloa, 33, a Honduras national, is charged with unlawfully reentering the United States after having been previously removed in May 2023. U.S. Immigration and Custom’s Enforcement (ICE) and Enforcement and Removal Operations (ERO) are the investigative agencies. Assistant U.S. Attorney Thomas E. Buscemi is prosecuting the case. 25-CR-030

    Benigno Villezcas-Alcantar. Unlawful Reentry of a Removed Alien. Villezcas-Alcantar, 41, a Mexican national, is charged with unlawfully reentering the United States after having been previously removed in Aug. 2015. U.S. Immigration and Custom’s Enforcement (ICE) and Enforcement and Removal Operations (ERO) are the investigative agencies. Assistant U.S. Attorney Niko Boulieris is prosecuting the case. 25-CR-031

    Price Grayson Wasson. Felon in Possession of a Firearm and Ammunition. Wasson, 22, of Tulsa, is charged with possessing a firearm and ammunition, knowing he was previously convicted of felonies. The Bureau of Alcohol, Tobacco, Firearms and Explosives and the Tulsa Police Department are the investigative agencies. Assistant U.S. Attorney John Brasher is prosecuting the case. 25-CR-022

    MIL Security OSI –

  • MIL-OSI USA: McConnell Proud to Confirm Turner as HUD Secretary

    US Senate News:

    Source: United States Senator for Kentucky Mitch McConnell

    Washington, D.C. – U.S. Senator Mitch McConnell (R-KY) issued the following statement today regarding the confirmation of Scott Turner as U.S. Secretary of Housing and Urban Development:

    “Scott Turner is another positive addition to the President’s cabinet at the Department of Housing and Urban Development. His experience spearheading creative solutions, like Opportunity Zones, will be needed to cut bureaucratic red tape and reform our failed federal housing policies. I look forward to working with Secretary Turner to help the agency better serve the American people, particularly improving its delivery of resources to distressed communities.”

    MIL OSI USA News –

  • MIL-OSI USA: Ahead of Hearing, Warren Pushes Trump Trade Representative on Tariff Policy

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren

    February 05, 2025

    Warren Questions Greer on Trade Agenda, Tariff Exemptions for Trump’s Allies and Special Interests

    “Tariffs are an important strategic economic tool, but Donald Trump’s desire to start and stop random trade wars will not protect jobs, keep Americans safe, or bring down costs for families.”

    Text of Letter (PDF)

    Washington, D.C. – U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs (BHUA) and member of the Senate Finance Committee, wrote to Jamieson Greer, nominee to be U.S. Trade Representative (USTR), ahead of his February 6, 2025 confirmation hearing, probing his views on trade. Senator Warren asked Mr. Greer to address her concerns with the administration’s tariff strategy, corporate influence over trade agreements, corporations offshoring of jobs, and other trade-related concerns. 

    The USTR is responsible for developing and promoting the U.S. trade agenda and leading trade negotiations on behalf of the U.S., playing a critical role in the economy. This week, the Trump administration announced new tariffs on Canada, Mexico, and China. During the last Trump administration, corporations and their lobbyists abused tariff exclusion loopholes to receive secretive exemptions from President Trump and his trade team. The Commerce Department’s Inspector General found that the process for receiving an exemption was “neither transparent nor objective.”

    “(T)he President does not appear to have a strategic plan in place to ensure that his proposed tariffs are implemented in a way that secures wins for hardworking Americans and precludes carveouts for special interests,” wrote Senator Warren. “Instead, he has threatened, and withdrawn tariff threats in a chaotic and haphazard manner that has only resulted in uncertainty for American consumers, workers, and manufacturers, as well as our allies.”

    Large multinational companies have also gained outsized influence in trade negotiations and trade disputes. For decades, membership of the trade advisory committee has leaned heavily in favor of billionaire corporations and their industry associations, and Investor-State Dispute Settlement (ISDS) provisions have allowed corporations to sue governments—including the United States—for pursuing public policies they may disagree with. Senator Warren encouraged Mr. Greer to pursue the removal of ISDS provisions from trade agreements with U.S. allies. 

    Senator Warren also wrote that she believes large corporations have too many incentives to move jobs and manufacturing abroad. “In order to reverse the negative effects offshoring has had on the American economy, the Administration must invest in domestic industry and eliminate incentives for corporations to hide their profits abroad,” the senator wrote. 

    Senator Warren also expressed support for the Trade Adjustment Assistance (TAA) program to help American workers whose jobs are displaced by trade. “Renewing TAA is a no-brainer, and I hope you will support it to make sure that workers at home get a fair deal,” said Senator Warren.

    In order to better understand Mr. Greer’s approach to trade, Senator Warren asked him to prepare to answer questions on his vision for the Trump administration’s trade agenda on February 6, 2025, the date of his confirmation hearing. 

    MIL OSI USA News –

  • MIL-OSI USA: Boozman, Grassley, Welch Work to Provide Hospitals with Financial Stability and Security

    US Senate News:

    Source: United States Senator for Arkansas – John Boozman

    WASHINGTON––U.S. Senators John Boozman (R-AR), Chuck Grassley (R-IA) and Peter Welch (D-VT) introduced the Rural Hospital Support Act to prevent rural hospital closures by extending and modernizing critical Medicare programs. 

    “Hospitals are one of the last community pillars still standing in rural America. They not only offer accessible, vital health care but also provide key economic benefits that cannot be replicated. As these institutions continue to face headwinds threatening their viability, we can help sustain them by supporting fair and adequate reimbursement for their services,” Boozman said. 

    “As a lifelong resident of rural Iowa, I know the importance of having access to health care services close to home. In addition to providing life-saving care, rural hospitals are a source of economic security for many rural communities,” Grassley said. “Our bipartisan bill will ensure the continuity of these vital programs and help keep rural hospitals’ doors open.”

    “Rural hospitals provide essential care to patients in rural communities, including to folks who rely on Medicare and Medicaid. In Vermont, rural hospitals are also job creators and economic drivers. But across the country, rural hospitals are struggling to stay open, and they need a lifeline,” Welch said. “Our bipartisan legislation will help ensure rural hospitals are reimbursed for resources they need to continue delivering vital care in our rural communities.”

    Specifically, the Rural Hospital Support Act would:

    • Permanently extend the Medicare-Dependent Hospital (MDH) program to ensure eligible rural hospitals are reimbursed for their costs;
    • Permanently extend the Low-Volume Hospital (LVH) program to level the playing field for rural hospitals whose operating costs often outpace their revenue; and
    • Update the rebasing year for Sole Community Hospitals (SCH) and MDHs to allow hospitals to tie reimbursement estimates to more recent trends in costs.

    The bipartisan legislation is also cosponsored by Senators Shelley Moore Capito (R-WV), Tim Kaine (D-VA), Roger Wicker (R-MS), Jeanne Shaheen (D-NH), Jerry Moran (R-KS), Tina Smith (D-MN), Cindy Hyde-Smith (R-MS), John Fetterman (D-PA), Mark Kelly (D-AZ), Roger Marshall, M.D. (R-KS) and Gary Peters (D-MI). 

    The Rural Hospital Support Act has garnered support from stakeholders including the Alliance for Rural Hospital Access, the American Hospital Association and the National Rural Health Association.

    Background

    Rural hospitals provide critical care for patients, many of whom rely on Medicare and Medicaid. These hospitals also serve as economic anchors – accounting for around 14 percent of total employment in rural areas.

    The MDH and LVH programs have supported rural communities for decades. The programs were last extended as part of the Continuing Resolution on December 20, 2024, and would expire on March 31, 2025, without congressional action. The Rural Hospital Support Act does not change other rural hospital Medicare programs including critical access hospitals (CAH), rural referral centers (RRC), Rural Community Hospital Demonstration or the new voluntary rural emergency hospitals (REH). Each of these rural programs offer unique flexibilities to ensure health care services are accessible in rural America.

    Find bill text here.

    MIL OSI USA News –

  • MIL-OSI USA: Legislation considered under suspension of the Rules of the House of Representatives during the week of February 10, 2025

    Source: US Congressional Budget Office

    The Majority Leader of the House of Representatives announces bills that will be considered under suspension of the rules in that chamber. Under suspension, floor debate is limited, all floor amendments are prohibited, points of order against the bill are waived, and final passage requires a two-thirds majority vote.

    At the request of the Majority Leader and the House Committee on the Budget, CBO estimates the effects of those bills on direct spending and revenues. CBO has limited time to review the legislation before consideration. Although it is possible in most cases to determine whether the legislation would affect direct spending or revenues, time may be insufficient to estimate the magnitude of those effects. If CBO has prepared estimates for similar or identical legislation, a more detailed assessment of budgetary effects, including effects on spending subject to appropriation, may be included.

    CBO’s estimates of the bills that have been posted for possible consideration under suspension of the rules during the week of February 10, 2025, include

    • H.R. 224, Disabled Veterans Housing Support Act 
    • H.R. 225, HUD Transparency Act of 2025
    • H.R. 386, Chinese Currency Accountability Act of 2025
    • H.R. 692, China Exchange Rate Transparency Act, as amended 
    • H.R. 736, Protect Small Business from Excessive Paperwork Act of 2025
    • H.R. __, Housing Unhoused Disabled Veterans Act 
    • H.R. __, Credit Union Board Modernization Act

    MIL OSI USA News –

  • MIL-OSI USA: ICYMI: Governor Newsom cuts red tape to help Los Angeles quickly recover and rebuild

    Source: US State of California Governor

    Feb 5, 2025

    What you need to know: Governor Newsom has taken unprecedented action to cut red tape and remove regulatory barriers to help Los Angeles recover and rebuild quickly – including by suspending CEQA and Coastal Act permitting requirements.

    LOS ANGELES — In response to the unprecedented disaster caused by the recent firestorms in Los Angeles, Governor Newsom has taken significant executive action to remove red tape and suspend regulatory barriers, from suspending permitting requirements to fast-tracking cleanup efforts.

    “We will not let red tape block people from rebuilding and getting back into their homes. The state is here to assist the Los Angeles community recover, not to hinder their efforts.”

    Governor Gavin Newsom

    Recovery and rebuilding, faster than ever

    Governor Newsom has launched historic recovery and rebuilding efforts, cutting red tape and suspending regulations to help make the recovery process faster than ever before. Moving proactively to remove barriers that would prevent a quick recovery, Governor Newsom began issuing orders and suspending regulations related to rebuilding in the days immediately after the firestorms began.

    ✂️ Suspending permitting requirements. Governor Newsom waived permitting requirements based on the California Coastal Act and the California Environmental Quality Act on January 12.

    🏠 Creating more temporary housing, faster. To help provide necessary shelter for those immediately impacted by the firestorms, the Governor issued an executive order on January 16 to streamline the construction and occupancy of accessory dwelling units, increase availability of trailers and other temporary housing, and suspend fees for mobile home parks. 

    ⚠️Fast-tracking clean-up and recovery. With an eye toward recovery, On January 12, the Governor directed fast action on debris removal work and mitigating the potential for mudslides and flooding in areas burned. Three days later, he signed an executive order to allow expert federal hazmat crews to start cleaning up properties as a key step in getting people back to their properties safely.
     
    📝 Tax and mortgage relief for disaster victims and businesses. On January 11, California postponed the individual tax filing deadline to October 15 for Los Angeles County taxpayers. Additionally, the state extended the January 31, 2025, sales and use tax filing deadline for Los Angeles County taxpayers until April 30 — providing critical tax relief for businesses. Governor Newsom suspended penalties and interest on late property tax payments for a year, effectively extending the state property tax deadline. The Governor also worked with state– and federally-chartered banks that have committed to providing mortgage relief for survivors in certain zip codes.

    ✔️ Waiving licensing fees for small businesses. The Governor issued an executive order on January 29 to support small businesses and workers, by providing relief to help businesses recover quickly by deferring annual licensing fees and waiving other requirements that may impose barriers to recovery.

    ❤️ Making it easier for survivors to quickly get help. The Governor fast-tracked more relief for survivors on January 27 by waiving or suspending regulations that could make it more difficult for survivors to access important services, such as child care, education, rental housing, health care, and tax relief.

    View all the actions Governor Newsom has taken in response to Los Angeles firestorms

    Get help today

    For those Californians impacted by the firestorms in Los Angeles, there are resources available.Californians can go to CA.gov/LAfires – a hub for information and resources from state, local and federal government.  

    Individuals and business owners who sustained losses from wildfires in Los Angeles County can apply for disaster assistance:

    If you use a relay service, such as video relay service (VRS), captioned telephone service or others, give FEMA the number for that service.

    Recent news

    Feb 4, 2025

    News What you need to know: People impacted by the recent fires in Los Angeles may be eligible for new food benefits. A family of four with a monthly income up to $3,529 per month may be eligible to receive $975. Los Angeles, California – As part of California’s…

    Feb 4, 2025

    News SACRAMENTO – Governor Gavin Newsom today announced the following appointments:Mark Tollefson, of Rancho Cordova, has been appointed Chief Deputy Director at the California High-Speed Rail Authority. Tollefson has been Undersecretary of the California State…

    Feb 4, 2025

    News What you need to know: Governor Gavin Newsom today issued an executive order removing bureaucratic barriers, extending deadlines, and providing critical regulatory relief to help LA fire survivors rebuild, access essential services, and recover more quickly. LOS…

    MIL OSI USA News –

  • MIL-OSI USA: Crapo: Scott Turner Committed to Lifting Up Stories of Forgotten Americans

    US Senate News:

    Source: United States Senator for Idaho Mike Crapo
    Published: February 05, 2025

    Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho) issued the following statement after the Senate confirmed, by a vote of 55-44, E. Scott Turner to be Secretary of the U.S. Department of Housing and Urban Development (HUD):
    “Scott Turner has the business and personal acumen to serve him well as head of the U.S. Department of Housing and Urban Development.  He overcame early childhood adversity to become a successful professional football player, state legislator, businessman and politician.  He has the pedigree of someone who knows what it takes to achieve the American Dream.  Mr. Turner has committed to lift up the stories of forgotten Americans, ensuring every citizen, regardless of creed or background, will have the same access to strong communities and quality, affordable housing.  He has promised to focus on maximizing resources, putting successful policies at the forefront, not simply spending more to achieve less.  I congratulate Scott Turner on his confirmation.”

    MIL OSI USA News –

  • MIL-OSI USA: Top Appropriators: Trump Administration’s “Deferred Resignation” Scheme is Deceptive, Legally Questionable, & Puts Vital Taxpayer Services At Risk

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    WASHINGTON, D.C. — Today, in an effort to protect taxpayers and federal workers and uphold the law, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, and U.S. Representative Rosa DeLauro (D-CT), the House Appropriations Committee Ranking Member, along with U.S. Senator Jack Reed (D-RI) and U.S. Representative Steny Hoyer (D-MD), the Ranking Members of both the Senate and House Financial Services and General Government Subcommittees, sent a letter to the U.S. Office of Personnel Management (OPM) pointing out that the Trump Administration’s so-called buyout program is “deceptive,” “legally dubious,” would “undermine” a host of vital government services people rely on, and “should be rescinded immediately.”

    “Federal workers take an oath to defend the Constitution and to work on behalf of the American people. OPM’s legally dubious and intentionally misleading offer is a disservice to these dedicated men and women, and it should be retracted immediately,” the four lawmakers wrote to the acting head of OPM.

    The Trump Administration’s proposal, which gave federal workers just a few days to consider the offer before a February 6 deadline to accept the terms alleging to pay them through September of 2025, incurs a multi-billion dollar cost on behalf of the federal government that has not been authorized or appropriated by Congress. If implemented, it would negatively impact taxpayers, who would be paying workers not to provide the public with critical services.

    “If federal workers are enticed or coerced to accept this ‘offer,’ the services that average Americans rely on will be undermined,”the lawmakers wrote.“Federal employees inspect nursing homes to give families and caregivers peace of mind. They stem the supply of fentanyl and illegal contraband at our nation’s ports of entry. They approve patent applications to bolster American innovation. They ensure that seniors can access Social Security benefits that they have worked their entire lives to earn, and they work to provide health care service to our nation’s veterans.”

    The appropriators asked a series of specific questions about OPM’s compliance with the Privacy Act, OPM’s legal authority to extend this offer, and whether paying people not to work through September 30 violates the Anti-Deficiency Act, a law that prevents the federal government from promising or spending money in excess of what Congress has made available. Congress has funded the government only through mid-March, not through the end of the fiscal year, which runs through September.

    Specifically, the letter asks OPM:

    1. Please provide documentation detailing OPM’s compliance with the Privacy Act, section 552a of title 5, United States Code, section 522.224 of title 48 of the Code of Federal Regulations, and the E-Government Act of 2002.  In addition, please provide a copy of all contract agreements associated with the development of this distribution list.
    2. Please provide a reference for the specific statutory authorities OPM is relying upon to make its deferred resignation offer, given that this widespread communication seems to violate 5 U.S.C. 301-302, which places authority for excusing employees from duty with pay under each individual agency.
    3. Please explain how the deferred resignation offer complies with the Administrative Leave Act of 2016 (P.L.114-315), which places clear limits on the number of days that an employee may be placed on administrative leave to protect taxpayer dollars.
    4.  OPM’s FAQ document regarding deferred resignation explicitly encourages employees to “find a job in the private sector as soon as you would like to do so.” However, federal employees are prohibited by law (5 CFR Part 2635) from engaging in outside employment or activities that conflict with official Government duties and responsibilities. Further, federal employees are required to notify their supervisor of any additional employment in order to further protect from conflicts of interest or ethical violations. Please explain how OPM intends to uphold the law to prevent widespread conflicts of interest and ethical violations.
    5. The Anti-Deficiency Act (31 U.S.C. 1341 and FAR 32.702) prohibits federal agencies from creating or authorizing funds in advance or in excess of a Congressionally-provided appropriation. OPM has, in writing, suggested to employees that they will receive pay and benefits after the end of the current continuing resolution, which expires on March 14, 2025. Please explain how this complies with the Anti-Deficiency Act.

    Full text of the letter is available HERE and below:

    February 5, 2025

    Mr. Charles Ezell

    Acting Director

    U.S. Office of Personnel Management

    1900 E St NW

    Washington, DC 20415

    Dear Mr. Ezell,

    On January 28, 2025, the U.S. Office of Personnel Management (OPM) sent a so-called “Fork in the Road” email to more than two million federal employees offering the opportunity to take “deferred resignation” by February 6, 2025.[1]  Additional documents published by the agency, including a “Frequently Asked Questions” webpage that is updated on an almost daily basis, as well as further communications regarding collective bargaining agreements, have caused confusion and concern among the federal workforce.  There is at best, questionable legal authority for the Administration to offer this type of program to federal workers, and it is not contemplated in appropriations law.  It should be rescinded immediately.

    OPM’s deceptive “offer” has been orchestrated by Elon Musk, a billionaire with significant business interests with the federal government who has used his influence to force out federal officials – including the former FAA Administrator – who have worked to ensure that his companies follow the law.   

    If federal workers are enticed or coerced to accept this “offer”, the services that average Americans rely on will be undermined.  Federal employees inspect nursing homes to give families and caregivers peace of mind.  They stem the supply of fentanyl and illegal contraband at our nation’s ports of entry.  They approve patent applications to bolster American innovation.  They ensure that seniors can access Social Security benefits that they have worked their entire lives to earn, and they work to provide health care service to our nation’s veterans.

    All of these services and more are at risk.  In light of OPM’s recent communications to federal employees, we write to request answers no later than February 7th to the following questions:

    1. Please provide documentation detailing OPM’s compliance with the Privacy Act, section 552a of title 5, United States Code, section 522.224 of title 48 of the Code of Federal Regulations, and the E-Government Act of 2002.  In addition, please provide a copy of all contract agreements associated with the development of this distribution list.
    2. Please provide a reference for the specific statutory authorities OPM is relying upon to make its deferred resignation offer, given that this widespread communication seems to violate 5 U.S.C. 301-302, which places authority for excusing employees from duty with pay under each individual agency.
    3. Please explain how the deferred resignation offer complies with the Administrative Leave Act of 2016 (P.L.114-315), which places clear limits on the number of days that an employee may be placed on administrative leave to protect taxpayer dollars.
    4. OPM’s FAQ document regarding deferred resignation explicitly encourages employees to “find a job in the private sector as soon as you would like to do so.” However, federal employees are prohibited by law (5 CFR Part 2635) from engaging in outside employment or activities that conflict with official Government duties and responsibilities. Further, federal employees are required to notify their supervisor of any additional employment in order to further protect from conflicts of interest or ethical violations. Please explain how OPM intends to uphold the law to prevent widespread conflicts of interest and ethical violations.
    5. The Anti-Deficiency Act (31 U.S.C. 1341 and FAR 32.702) prohibits federal agencies from creating or authorizing funds in advance or in excess of a Congressionally-provided appropriation. OPM has, in writing, suggested to employees that they will receive pay and benefits after the end of the current continuing resolution, which expires on March 14, 2025. Please explain how this complies with the Anti-Deficiency Act.
    6.  How will OPM implement the Executive Order “Reforming the Federal Hiring Process and Restoring Merit to Government Service”?
      1. How does the federal hiring plan outlined in Sec. 2 interact with existing government hiring preferences, including for veterans? Is the Administration aware of the existing hiring preferences for veterans?
      2. How will you be assessing an individual’s commitment to “improving the efficiency of the Federal Government, passion for the ideals of the American republic, and commitment to the Constitution”? Please provide any relevant questionnaires for federal employees, beyond any existing competencies or job assessments that agencies already require.  
    7. How will OPM implement the EO “Restoring Accountability to Policy-Influencing Positions within the Federal Workforce”?
      1. Please clarify your intended timeline for formal rulemaking under Sec. 4. As of February 3, 2025, no documents have been published in the Federal Register. 
      2. Approximately how many employees per agency do you anticipate will be rescheduled based on the guidance shared on January 27, 2025?

    Federal workers take an oath to defend the Constitution and to work on behalf of the American people. OPM’s legally dubious and intentionally misleading offer is a disservice to these dedicated men and women, and it should be retracted immediately. Pending that, we ask for a response to these questions by Friday, February 7, 2025.

    Sincerely,

    MIL OSI USA News –

  • MIL-OSI USA: Senator Murray, Ecology Director Sixkiller, Councilmember Zahilay, WA Head Start Association Director Call Out How Trump’s Ongoing Illegal Funding Freeze is Hurting WA State, Putting Critical Projects and Jobs at Risk

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    Washington, D.C. — Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, led a virtual press conference highlighting how President Trump’s ongoing, illegal funding freeze is hurting people and organizations across Washington state—forcing them to make impossible choices, costing jobs, and putting critical projects and hundreds of millions of dollars for everything from infrastructure improvements to culvert removal at risk. Joining Senator Murray for the press call were King County Councilmember Girmay Zahilay, Washington State Department of Ecology Director Casey Sixkiller, and Joel Ryan, Executive Director of the Washington State Association of Head Start and ECEAP.

    “People need to understand the Trump administration is still holding up billions of dollars, under Trump’s illegal Day One Executive Orders. We’re talking about funding Congress passed into law—funding that is owed to communities in Washington state and across the country,” Senator Murray said on this morning’s press call, outlining some of the ways President Trump’s ongoing illegal funding freeze from his Day One Executive Orders is putting critical projects and jobs in Washington state at risk:

    • “The Washington State Department of Transportation has told me Trump is blocking money to repair electric chargers, to install heavy duty chargers for trucks, to make critical repairs to bridges in order to protect the safety of millions of drivers, and to install new chargers along major roads like I-90, US-97, US-2, US-195, and US-395.
    • “Trump is holding up road projects to make streets safer for pedestrians, bicyclists, and drivers—a safe streets project in Richland, critical safety barriers in Spokane are just a few of the examples.
    • “Trump’s illegal freeze is, as we speak, blocking wildlife preservation work all over our state, and critical culvert replacement projects to help save our salmon.
    • “There are port projects right now on hold across Washington state, including for electrical infrastructure, and shore power for vessels. Absolutely essential electric transmission and distribution projects are on hold and in jeopardy.
    • “World class organizations in Washington state have told me they may have to lay people off this week—hundreds of people—because of Trump’s illegal funding freezes.

    “Make no mistake: the chaos is not over. There are still billions of dollars being illegally held up—and so many jobs in Washington state that are on the line I am going to continue fighting this and pressing the administration every way I can to get them to end these illegal funding freezes,” Murray concluded. “I’m going to continue doing everything I can as Vice Chair of the Appropriations Committee to stand up and hold this administration to account, so we can get the money Congress passed into law flowing again to folks back home in Washington state.”

    “This is money that should be flowing into our communities, creating jobs, protecting public health, and improving the environment. Instead, it is being delayed at the expense of the people who need it most,” said Casey Sixkiller, director of the Washington State Department of Ecology.

    “King County is already grappling with a $150 million budget shortfall, putting essential services at risk. A freeze in federal funding would make this crisis even worse, threatening vital programs like healthcare, housing support, transportation, and services for veterans and seniors. For the people who depend on these services every day, these cuts aren’t just numbers—they’re lifelines that keep our community safe, healthy, and connected. Without immediate action and support, many of our most vulnerable neighbors will face even greater hardship,” said King County Councilmember Girmay Zahilay.

    “This past week and half have been chaotic and disruptive roller coaster ride for Head Start programs here in Washington State. The half day shutdown caused by the Trump Administration caused confusion and nearly led to thousands of children and families losing access to childcare. Yesterday we continued to receive reports that Head Start programs were struggling to access their federal grant dollars with one program as of today still unable to gain access. Across the country there remains over 40+ Head Start programs impacting more than 20,000 children dealing with this ‘rolling blackout’ putting very low income children and families at risk of losing services,” said Joel Ryan, Executive Director of the Washington State Association of Head Start and ECEAP.

    TIMELINE OF EVENTS

    January 20th: Within his first hours in office, President Trump signed a number of executive orders that illegally block funding that was signed into law to rebuild America’s infrastructure, lower families’ energy costs, create new, good-paying jobs, strengthen our national security, and more.

    January 27th: Trump expanded his funding freeze dramatically when the Office of Management and Budget (OMB) issued a sweeping, illegal memo directing a near-blanket freeze on virtually all federal funding, with carveouts for Social Security, Medicare, and “assistance provided directly to individuals.” Senator Murray immediately wrote a letter to OMB alongside House Appropriations Ranking Member Rosa DeLauro (D-CT-03) raising alarms about the sweeping directive and calling the acting director to restore funding, as the law requires.

    January 28th: Senator Murray joined millions of Americans in decrying the chaos and pain President Trump’s freeze caused—as reports poured in from across the country about how it risked shuttering Head Start programs, cutting off disaster relief, jeopardizing cancer research, and much more. The White House, in trying to clarify the scope of the memo, instead created more chaos, confusion, and headaches for the American people.

    January 29th: Senator Murray again slammed Trump’s devastating freeze cutting off funding families count on—noting that even programs the administration said were back online were, in fact, still shuttered, and she called on Trump to stop withholding funding. Then, facing nationwide backlash, President Trump had his OMB revoke its memo. But President Trump vowed to keep his freeze of hundreds of billions of dollars in funding tied up by his executive orders in place—and his aides continued their vows to block more funding signed into law.

    RIGHT NOW: President Trump continues to hold up vast swaths of funding implicated by his illegal executive orders—and chaos and confusion pervade over whether funding implicated by his now-rescinded OMB memo has been fully restored.

    His executive orders direct agencies to, among other things, halt disbursement of funding from the Bipartisan Infrastructure Law and the Inflation Reduction Act, foreign development assistance, and virtually any funding his administration deems “woke.”

    President Trump’s ongoing freeze is holding up funding Congress delivered—often on a bipartisan basis—to:

    • Rebuild America’s roads and bridges.
    • Connect families to high-speed internet access.
    • Upgrade transit and transportation infrastructure.
    • Lower Americans’ energy costs.
    • Create new, good-paying clean energy jobs.
    • Strengthen America’s national security.
    • Much more.

    President Trump must rescind his executive orders—and stop blocking funding the American people are counting on. His failure to do so will:

    • Kill good-paying American jobs.
    • Delay—or altogether scrap—infrastructure projects all across the county.
    • Raise American families’ energy costs.
    • Create more chaos, confusion, and uncertainty that hurt families, businesses, small businesses, and local organizations and governments.
    • Gut efforts to tackle the climate crisis and ensure every American has clean air and water.
    • Halt work cleaning up Superfund sites contaminated with hazardous waste and substances.
    • Undermine our national security and credibility on the world stage.
    • Much more.

    A fact sheet on the issue of impoundment—Trump’s unconstitutional scheme to withhold federal funding headed to communities across America—is HERE.

    Senator Murray’s full remarks, as delivered on today’s press call, are below and video is HERE:

    “Thank you everyone for joining us today. Last week, we saw a level of chaos and recklessness from the Trump administration that’s truly unlike anything I have seen in my lifetime, when the administration moved to brazenly and illegally freeze federal grants across government and across the country. 

    “The panic and the confusion were widespread. Because there was a long, long, list of programs President Trump tried to put on the chopping block.

    “Then, less than 48 hours later, in the face of intense public backlash and outrage from people all over the country—they admitted they were disastrously wrong and revoked the OMB memo.

    “But it’s really important that this fight is far from over. Not only is there still significant confusion—funding that was supposed to be turned back ‘on’ that is still not, it’s still locked up—but, just as importantly, people need to understand the Trump administration is still holding up billions of dollars, under Trump’s illegal Day One Executive Orders.

    “We’re talking about funding that Congress passed into law—funding that is owed to communities in Washington state and across the country.

    “Now, the harm they are causing with these funding freezes is hard to overstate, because this has never been done before. 

    “And we’ve been working around the clock to figure out exactly what all of this means, and who is affected—because they have been far from clear.

    “But today I want to give you all a sense of what folks across our state have told me about what Trump’s ongoing, illegal funding freezes have meant for them.

    “The Washington State Department of Transportation has told me that Trump is blocking money to repair electric chargers, to install heavy duty chargers for trucks, to make critical repairs to bridges in order to protect the safety of millions of drivers, and to install new chargers along major roads like I-90, US-97, US-2, US-195, and US-395.

    “Trump is still holding up road projects that make streets safer for pedestrians, bicyclists, and drivers—a safe streets project in Richland, critical safety barriers in Spokane are just a few of the examples.

    “Trump’s illegal freeze is, as we speak, blocking wildlife preservation work all over our state, and critical culvert replacement projects to help save our salmon. 

    “There are port projects right now on hold across Washington state, including for electrical infrastructure, and shore power for vessels. Absolutely essential electric transmission and distribution projects are on hold and in jeopardy.

    “And there are many other projects, organizations, and people—who are being harmed right now by the President’s reckless funding freeze.

    “Medical researchers in Washington state who are worried that their work will somehow be considered ‘woke,’ when in reality, it’s actually pretty darn important we understand the roots of health disparities—things like why the maternal death rate is so much higher for Black and Native American women.

    “Trump’s executive orders also froze lifesaving foreign assistance for people all around the globe.

    “And world class organizations in our state, in Washington state, have told me they may have to lay people off this week—hundreds of people—because of Trump’s illegal funding freezes.

    “It is just completely unclear when, or if these projects are going to get the funds they are counting on, and owed, from the bills Congress passed into law long before Trump came into office. 

    “So, make no mistake: the chaos is not over. There are still billions of dollars being illegally held up—and many jobs in Washington state are now on the line.

    “I am going to continue fighting this and pressing the administration every way I can to make them end these illegal funding freezes.

    “Democrats will speak out, we will challenge Trump’s illegal actions in the courts, we will demand accountability, and we will put the pressure on the administration and on our Republican colleagues. 

    “But we also need our Republican colleagues to say ‘enough.’ We need them to join us. 

    “Now, we learned something extremely important last week: that when the American people–all across our state, all across the country–speak out with one voice, and when regular people stand up, it makes a difference. 

    “So this fight is far from over—and I’m going to continue doing everything I can as Vice Chair of the Appropriations Committee to stand up and hold this administration to account, so we can get the money Congress—by both parties, Republicans and Democrats–passed into law flowing again to folks back home in Washington state.”

    MIL OSI USA News –

  • MIL-OSI USA: ICE Dallas arrests illegal Guatemalan national wanted for murder in his home country

    Source: US Immigration and Customs Enforcement

    DALLAS — U.S. Immigration and Customs Enforcement apprehended an illegally present Guatemalan national wanted for murder in his home country when officers arrested Dennis Alexander Valenzuela, 37, Jan. 31 at his home in Fort Worth, Texas.

    “Our officers pursue criminal aliens who attempt to hide in the shadows of our communities daily,” said acting ICE Enforcement and Removal Operations Dallas Field Office Director Joshua Johnson. “The apprehension and pending removal of this individual underscores our dedication to upholding the laws of our country and safeguarding our communities.”

    Valenzuela entered the United States at or near Hidalgo, Texas on June 16, 2021, without an immigration inspection, admission, or parole by an immigration officer. U.S. Border Patrol agents encountered Valenzuela on that same date, and served him a Notice to Appear, pursuant to the Immigration and Nationality Act.

    Valenzuela will be housed at the Prairieland Detention Center in Alvarado, Texas pending removal proceedings.

    Members of the public can report immigration crimes or suspicious activity by dialing the ICE Tip Line at 866-DHS-2-ICE (866-347-2423) or completing the online tip form.

    Learn more about ICE’s mission to increase public safety on X, @ERODallas.

    MIL OSI USA News –

  • MIL-OSI Security: Former NYC Fraud Investigator Sentenced to Prison for Stealing Homeless Victims’ Identities to Apply for Unemployment Benefits

    Source: Office of United States Attorneys

    NYC Fraud Investigator Stole Victim Information from Department of Homeless Services Database and Conspired to Fraudulently Apply for Unemployment Insurance Benefits in Victims’ Names

    Earlier today, in federal court in Brooklyn, defendant Olabanji Otufale, a former New York City Department of Homeless Services fraud investigator, was sentenced by United States District Judge Kiyo A. Matsumoto to 27 months in prison for conspiracy to commit wire fraud and aggravated identity theft.  Otufale and co-conspirator Marc Lazarre pleaded guilty in July 2024. 

    John J. Durham, United States Attorney for the Eastern District of New York, James E. Dennehy, Assistant Director in Charge, Federal Bureau of Investigation, New York Field Office (FBI), and Jocelyn Strauber, Commissioner, New York City Department of Investigation (DOI) announced the sentence.

    “The defendant abused his position of trust as a fraud investigator to access and steal vulnerable homeless victims’ personal identifying information for his personal benefit,” stated United States Attorney John J. Durham.  “Otufale betrayed the public trust and conspired to use his access for illicit financial gain.  Today’s sentence should serve as a lesson to this defendant and all public employees that exploiting positions of power for personal financial gain will be punished.”

    “Olabanji Otufale exploited his position within the Department of Homeless Services to steal the identities of homeless individuals and furtively reaped their allocated social services benefits. These abhorrent actions violate the trust and expected privacy placed in local agencies responsible for storing sensitive information. The FBI will never tolerate public service employees who prey upon our city’s vulnerable populations for fiscal profits,” stated FBI Assistant Director in Charge Dennehy.

    DOI Commissioner Jocelyn E. Strauber said, “The defendant, a City fraud investigator with the Department of Homeless Services, had a duty to protect DHS and the vulnerable New Yorkers it serves from fraud.  Instead, he used his access and position to steal personal information of applicants for social services, in a scheme to illegally obtain unemployment benefits. The sentence imposed today makes clear that we and our law enforcement partners will hold accountable those who misuse their City positions for personal profit.  I thank the United States Attorney’s Office for the Eastern District of New York and the FBI for their continued partnership in the effort to protect critical public funds.”

    In the fall of 2020, Otufale conspired with others to steal the personal identifying information of more than ten homeless individuals and use that stolen information to fraudulently apply for unemployment insurance benefits in the names of those homeless individuals without their knowledge or consent.

    At the time of the scheme, Otufale was a fraud investigator with the New York City Department of Homeless Services (the Department).  In that role, Otufale was responsible for ensuring individuals who applied for homeless services—such as housing in homeless shelters—were qualified to receive services from the Department.

    Otufale, however, used his access to a database maintained by the Department to commit fraud himself, stealing the personal identifying information—names, social security numbers, dates of birth—of vulnerable victims who had given that personal information to the Department when they applied for services.  Otufale then texted this victim information to a co-conspirator, Marc Lazarre, who applied online for unemployment benefits in the names of the homeless victims. Otufale and Lazarre conspired to split the fraudulent benefits they received.  Lazarre is scheduled to be sentenced on March 4, 2025.

    The government’s case is being handled by the Office’s Public Integrity Section.  Assistant United States Attorneys Sara K. Winik, Laura Zuckerwise and Katherine P. Onyshko are in charge of the prosecution, with assistance from Paralegal Specialist Nadya Osman.

    The Defendants:

    Olabanji Otufale
    Age: 41
    Brooklyn, NY

    Marc Lazarre
    Age: 39
    Secaucus, NJ

    E.D.N.Y. Docket No. 24-CR-170 (KAM)

    MIL Security OSI –

  • MIL-OSI Global: Why there’s an ethnic pension gap in the UK – and how the government could close it

    Source: The Conversation – UK – By Athina Vlachantoni, Professor of Gerontology and Social Policy, University of Southampton

    Opting out of workplace pension schemes is more common among some minority communities than the white British population. Pranithan Chorruangsak/Shutterstock

    There’s an ethnic pension gap in the UK that leaves people from particular minority ethnic communities worse off in retirement than their white British counterparts. The gap can be measured in several ways – for example, by comparing the pension amount between ethnic communities or measuring the proportion of working-age people from different ethnic groups who are signed up to a workplace pension scheme.

    But whichever indicator you use, the evidence shows that people from minority ethnic communities, whether they were born in the UK or not, fare worse than white British people.

    Unfortunately, that’s not all. Within the minority ethnic population, it is the Bangladeshi and Pakistani communities who are faring worse than people from other minority ethnic communities. And women are struggling more than men.

    The government’s most recent analysis based on the Family Resources Survey shows that Asian pensioner families (that is, either a single pensioner or a couple that includes at least one pensioner) had the lowest gross income at £500 a week). This compared with £731 a week among pensioner families from the “white other” ethnic group.

    Unpicking the causes

    But why is there an ethnic pension gap? To understand why it persists, it’s helpful to take a few steps back and examine the accumulation of disadvantage. Our research in the Centre for Research on Ageing and the ESRC Centre for Population Change has done just that – unravelling the factors that lead to the gap.

    We found that working-age people from Bangladeshi and Pakistani communities were less likely than their white British counterparts to be in paid work. And once in paid work, they were less likely to work as employees and more likely to be self-employed.

    This is important because, over the last 15 years, the UK government has introduced auto-enrolment in workplace pensions, which means that all workers aged 22 or above and earning at least £10,000 per year are automatically enrolled in their workplace scheme.

    Even among employees, we found that workers from Bangladeshi and Pakistani communities were less likely to be members of their workplace pension scheme. That is, they were more likely to opt out. Among pensioners, we found that those from Bangladeshi and Pakistani communities were less likely to be receiving a state or workplace pension, and more likely to be receiving pension credit (a means-tested benefit for those on low incomes).

    Differences between minority ethnic communities in their employment trends then lead to ethnic gaps in pension protection. There are a number of factors at play, including cultural reasons that might affect employment choices and opportunities (particularly among women) and structural reasons affecting the types of jobs and earnings where people from Bangladeshi and Pakistani communities find work.



    Read more:
    How the gender pay gap evolves into a gender pension gap

    Religious reasons can also affect people’s choices about the kinds of investments they make. Under Islamic finance guidelines, investing in profit-making ventures – commonly part of workplace pensions – is not permitted.

    Recent research by the Institute for Fiscal Studies showed that 16% of Pakistani and 24% of eligible Bangladeshi employees opt out of a workplace pension, compared to 10% of eligible white employees.

    All these reasons are important factors in understanding the ethnic pension gap and are vital issues for the government to address.

    The ethnic pension gap leaves some communities more than £200 worse off per week on average than their white British peers.
    Rawpixel.com/Shutterstock

    So where does this leave government policies to close the gap? Encouraging younger people from Pakistani and Bangladeshi communities to enter (and crucially, to stay) in the labour market can be the first step.

    According to the most recent government data, on average 75% of people aged 16-64 are employed. But this breaks down to 76% for white people, and 57% for Pakistani and 63% for Bangladeshi people.

    Meanwhile, another useful step the government could take would be reducing the £10,000 eligibility threshold for auto-enrolment. This would allow more low earners to start saving for retirement.

    But if more people from minority ethnic communities are going to stick with their workplace pension (or rather if fewer people are going to opt out), the government needs to consider the design and promotion of more sharia-compliant investments. These make workplace pension plans acceptable to Muslim communities. This could be a crucial step in closing the pension gap for future cohorts, and a feasible way forward. These products already exist, after all.

    Closing the ethnic pension gap (and the gender gap within it) is vital because the UK’s population is both ageing and becoming more ethnically diverse. About 18% of the population of England and Wales are from a non-white background (in Scotland it’s 4% and in Northern Ireland 3.4%).

    Addressing the ethnic pension gap is vital. It could take the UK a step closer to a society where people from all ethnic communities have the opportunity to reach later life with greater financial security and dignity.

    Athina Vlachantoni receives funding from the UKRI.

    Jane Falkingham receives funding from UKRI (Economic & Social Research Council)

    Maria Evandrou receives funding from UKRI.

    – ref. Why there’s an ethnic pension gap in the UK – and how the government could close it – https://theconversation.com/why-theres-an-ethnic-pension-gap-in-the-uk-and-how-the-government-could-close-it-248822

    MIL OSI – Global Reports –

  • MIL-OSI Global: Millions of animals die on roads – does this make driving morally wrong?

    Source: The Conversation – UK – By Diego Exposito, PhD researcher in Politics, University of Sheffield

    A dead European hare. MMCez/Shutterstock

    Imagine one morning, you are deciding whether to drive to work or catch the train. Eventually, you decide to drive. On your way to the office, a squirrel crosses the road leaving you no time to react, and you run it over. Did you do anything wrong by deciding to drive instead of taking the train?

    Ethical debates about the morality of driving tend to stop at the possible harm to humans. This is surprising, considering the decades of work in animal ethics and the fact that around 223 million birds and mammals are killed on Europe’s roads each year.

    Researchers in moral philosophy like myself analyse the extent to which our actions are right or wrong. One way to evaluate actions like driving is to ask whether it is morally justified to subject others to a certain risk. Driving fits this kind of reasoning because when we decide to drive, we are not certain that we will kill someone (human or non-human), but we know our action will put others at some risk of harm.

    So, how much risk is permissible? There are two factors moral philosophers often use to assess this. The first is the extent to which the action that puts others at risk is part of a fair social system of risk-taking – in other words, a social arrangement in which people exchange risks but also benefits that everyone can access. The second concerns whether such a system works to the advantage of all those who participate in it.

    Driving can be considered a social system of risk-taking, and it would be considered morally acceptable if everyone can drive or be driven by other people, and if the system of driving ultimately benefits those who are put at risk by it.

    Some philosophers believe that in the case of humans, this line of reasoning makes driving morally acceptable. But what if we extend it to include animals?

    A car through a deer’s eyes

    Cats, dogs and other domestic animals may ride in cars but most wild animals will not, so they do not meet the first factor. The sheer number of animals that end their lives as roadkill indicates that driving does not work to their advantage. For most animals, cars are a threat rather than a benefit.

    Driving, in this case, would not be morally acceptable according to the ethical test we set for our fellow humans.

    Car travel has contributed to the decline of some species.
    Natalya Ugryumova/Shutterstock

    This may lead us to consider our risk of killing animals before we drive – including the road we will use, the season, or the speed we will drive at. It may even tell us that driving is morally impermissible.

    One way to deny this would be to say that to forgo driving is too costly. For many people, driving is not an activity they can choose to do or not, but a basic need on which people depend for going to (or finding) a job, buying groceries, or visiting friends and family.

    But even if we think these costs are important, what about the serious costs to animals? When we consider both of these factors, some tentative conclusions emerge.

    Situations in which driving imposes a high risk of harm to animals, while not driving causes little cost to humans, probably make driving unacceptable. Take this scenario: your route to work during summer crosses congregations of house sparrows during the season in which they breed. Luckily, there is a convenient alternative.

    Then there are situations in which driving imposes almost no risk to animals, but not being able to drive deeply affects people – such as a drive to the other side of a city to buy food, during which few wild animals are likely to cross your path. In such cases, driving is probably permissible.

    But what about the various situations that sit between these two scenarios? In a lot of cases, driving is not necessary but may be more convenient than using public transport. Also, much of our driving is not done for essential activities but for things we generally enjoy.

    Finding clear criteria that determine when it is morally acceptable to drive is the matter that ethicists should try to elucidate. All I can say is that all sets of costs and risks need assessing, and driving must be viewed as an activity subject to ethical reflection.

    Drivers will need to decide, balancing the risk of harm they might impose on others by driving with the disadvantages of choosing not to drive. It should not come as a surprise, however, if we find that much of our driving is morally unjustified.

    Don’t have time to read about climate change as much as you’d like?

    Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed so far.

    Diego Exposito receives funding from the White Rose College of the Arts and Humanities. He is affiliated with Screwworm Free Future.

    – ref. Millions of animals die on roads – does this make driving morally wrong? – https://theconversation.com/millions-of-animals-die-on-roads-does-this-make-driving-morally-wrong-248178

    MIL OSI – Global Reports –

  • MIL-OSI Global: Belarus election: how ‘Europe’s last dictator’ held onto power as his opponents were jailed or exiled

    Source: The Conversation – UK – By Stephen Hall, Lecturer (Assistant Professor) in Russian and Post-Soviet Politics, University of Bath

    The acclamation of Alexander Lukashenko as Belarus president for a seventh straight term was confirmed on January 26. The electoral authorities announced that the man known as “Europe’s last dictator” – the only president the country has had since it held its first “democratic” election in 1994 – had won 87% of the vote.

    Most western leaders have dismissed the result as a “sham”. Germany’s foreign minister, Annalena Baerbock, posted on X that “the people of Belarus had no choice”, while the Polish foreign minister, Radosław Sikorski, commented that he was surprised “only” 87.6% of the electorate had voted for Lukashenko: “Will the rest fit inside the prisons?” he asked.

    But the result was never really in doubt. Sikorski’s barb about jailing opponent figures is right on the money. Many of Belarus’s main opposition figures are already behind bars and the rest are in exile. And, just to make sure of things, well before the campaign started – in January 2024 – Lukashenko changed the law so that only those people who were had lived permanently in Belarus for 20 years could stand for the presidency. This meant that the most prominent opposition leader not now in prison in Belarus, Sviatlana Tsikhanouskaya, was ineligible.

    Tsikhanouskaya fled after the election to avoid the fate of her husband, Sergei Tsikhanouski, who was arrested in 2020, two days after declaring his candidacy for the election. He has since been jailed for 18 years on charges of “preparation of mass disorder” and “incitement to hatred”. Tsikhanouskaya was herself tried in absentia and sentenced to 15 years for high treason, inciting social hatred, attempts to seize power, forming an “extremist” group and harming national security.

    So with no real opposition allowed to stand, Lukashenko’s reelection was pretty much a foregone conclusion. A survey conducted by the think tank Chatham House at the end of 2024 found that about one-third of Belarusians said they supported Lukashenko – and most of these people also commented they thought the country was going in the right direction.

    Keeping Belarus out of the war was a major factor for these voters. A further 41% professed to be neutral. When it came to electoral integrity, 36% agreed or somewhat agreed that the result was predetermined. Among pro-democracy voters that number rose to 77%.

    Government in exile

    Tsikhanouskaya leads a government in exile from Lithuania, heading what her team has called a “united transitional cabinet”, tasked with “ensuring the transition of power from dictatorship to democracy, and promoting fair and free elections”. The cabinet is supported by a national coordinating council of 70 members which is elected on a two-yearly basis and who main function is to establish the ground rules for a “ democratic and rule-of-law-based state”.

    Tsikhanouskaya’s efforts have been supported by a range of countries, including the US which, in August 2020, urged the Lukashanko regime to “actively engage Belarusian society, including through the newly established National Coordination Council, in a way that reflects what the Belarusian people are demanding, for the sake of Belarus’ future, and for a successful Belarus”.

    But being a leader in exile means it is difficult to bridge the barrier to Belarusians at home.

    Political prisoners

    Other opposition figures are mainly still in prison. Sergei Tsikhanouski was recently was charged with violating prison rules, which will increase his existing 18-year sentence.

    His fellow opposition leader, Viktar Babaryka – who was also arrested in the run-up to the 2020 election – was given 14 years on trumped-up up charges. His assistant Maria Kolesnikova, who took over from him as a protest leader, was jailed after publicly destroying her passport so she could not be forcibly exiled by the authorities.

    Although not part of the political opposition another prominent figure, Ales Bialiatski, a human rights activist who won the Nobel peace prize in 2022 was sentenced to ten years in jail in 2023 for smuggling and allegedly financing the 2020 protests.

    Overtures to the west

    Since the summer of 2024, 200 political prisoners have been released, a possible sign that Lukashenko wants to reset relations with the west. He did something similar in 2015, the year after Russia annexed Crimea.

    At the time his release of six opposition activists was seen as a possible sign the Belarus leader was concerned his country could be at risk from Russian aggression and he was looking to keep with the EU and the US.

    Kolesnikova was recently allowed a prison visit from her father for the first time in nearly two years. Meanwhile a journalist was given access to Babaryka in jail and allowed to record a video of the jailed dissident for his daughter.

    If the release of prisoners and reappearance of the two jailed dissidents are indeed an attempt to reset relations with the west, the fact he still has more than 1,000 political prisoners behind bars will give Lukashenko plenty of diplomatic leeway.

    But given Lukashenko’s close alignment with Russian president Vladimir Putin and the fact that he allowed Belarus to be used as a launch pad for Russia’s invasion of Ukraine, it is unlikely that many western countries will be won over.

    Lukashenko has shown himself to be an irritant many times over the years. In 2021, the year before Russia’s invasion of Ukraine, the Belarus leader was roundly criticised for trying to spark a migrant crisis in neighbouring Poland, Lithuania and Latvia. Belarus was reportedly flying Iraqi and Afghan migrants from the Middle East and bussing them to the border where Belarusian troops were trying to push them across.

    As far as armed resistance to Lukashenko is concerned, the Kastuś Kalinoŭski Regiment, a group of Belarusian volunteers has been fighting as part of Ukraine’s armed forces since March 2022. The regiment’s stated aim is to help Ukraine fight off Russia and become part of the EU and Nato and to strive for Belarus to do the same.

    The next election is due to be held in 2030. Alexander Lukashenko will be 75.

    Stephen Hall does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Belarus election: how ‘Europe’s last dictator’ held onto power as his opponents were jailed or exiled – https://theconversation.com/belarus-election-how-europes-last-dictator-held-onto-power-as-his-opponents-were-jailed-or-exiled-248962

    MIL OSI – Global Reports –

  • MIL-OSI Global: Companion review: this sleek but violent film asks interesting ethical questions about our relationship with AI

    Source: The Conversation – UK – By Sarah Artt, Lecturer in English and Film, Edinburgh Napier University

    Science fiction film and television has long been fascinated by robots. But stories that show us uncannily human cyborgs have often tended to veer towards either comedy or horror. Fritz Lang’s Metropolis (1927) and Ridley Scott’s Blade Runner (1982) both imagine a world where beautiful female cyborgs threaten to overstep their original programming. Rarer are stories that suggest it might be possible to love a cyborg, such as Susan Seidelman’s underseen romantic comedy, Making Mr. Right (1987).

    Companion picks up where Alex Garland’s Ex Machina (2014) leaves off. Ex Machina was about a young man tasked with testing the artificial intelligence (AI) of a female robot. Companion, however, posits a world where synthetic humans have become common.

    Companion’s plot also owes much to the themes of rivalry and revenge present in Karyn Kusama’s horror films Jennifer’s Body (2009) and The Invitation (2022), as well as the TV show Battlestar Galactica’s (2004 to 2009) imagining of full cyborg autonomy.

    Companion is a particularly post-Black Mirror (2011) example of science fiction. With its glossy aesthetics, and ubiquitously friction-less technology, it’s a vision of a future where AI and advanced robotics have made our lives easier. But, in typical Black Mirror fashion, this parable offers a warning.

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    We meet Iris (Sophie Thatcher) and Josh (Jack Quaid) as they head to a chic, modern lake house for a weekend with friends. At this point, our only real indication that this is science fiction is the fact that the GPS in Josh’s car is a bit better than usual.

    At first, Iris seems like yet another incarnation of the Manic Pixie Dream Girl – quirky and kittenish, but too bland to really be a protagonist. It is only Thatcher’s subtle physical performance that lets us question whether Iris is entirely human. Besotted with Josh and anxious to please, Iris seems like just another girl who has wished for her prince to come and been rewarded with a supermarket meet cute.

    What makes Companion unsettling is not so much its depiction of cyborgs but rather its portrayal of misogyny.

    Survivors of intimate partner violence will recognise Josh. Particularly his ironclad belief that he is a “a nice guy” who is entitled to an attractive partner who places his needs above all else.

    For some audiences, Companion may not feel firmly rooted enough in either science fiction or horror. But then, it’s really only a horror film if you too are kept awake at night by the thought that some people really want a sex robot with customisable intelligence levels (Josh keeps Iris’s at 40%).

    Thatcher’s performance as Iris is fascinatingly glitchy. There is something about her walk – a precision that isn’t quite human. She stands with a stillness that reminds us she is more object than woman. There is a grimace she makes that conveys how she finds it troubling to process veiled commands from a man who isn’t her partner. It represents a feeling female viewers may have had before, when the social programming that tells women to be nice smacks up against their fight or flight response.

    Iris is a sex robot designed with charming slightly buck teeth – a flaw to offset her pore-less skin. The goal is to prevent her from falling into to the uncanny valley (that discomfited feeling when you encounter an object that is a little too life-like) and make her seem more real.

    Some people argue that you should only have sex with a robot if you think that robot would want to have sex with you. But most science fiction doesn’t really go that way – from Bride of Frankenstein (1935) to Black Mirror, most cyborg figures are programmed to consent without question.

    Companion shows us Iris’s point of view as Josh looms over her during sex. Afterwards, her romance-trope laden chatter is shut down by his command that she go to sleep.

    Companion contains aspects of both comedy and horror. But like the best science fiction, it’s central warning is against those who believe that technology can offer them absolute control.

    Sarah Artt does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Companion review: this sleek but violent film asks interesting ethical questions about our relationship with AI – https://theconversation.com/companion-review-this-sleek-but-violent-film-asks-interesting-ethical-questions-about-our-relationship-with-ai-249062

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Mayor announces £20m investment for Wolverhampton Canalside South regeneration scheme

    Source: City of Wolverhampton

    The West Midlands Combined Authority (WMCA) has provided the loan facility to Wavensmere Homes to bring about the £150m redevelopment and provide hundreds of new homes, including 109 affordable plots.

    Canalside South is one of the biggest regeneration projects of its kind in the region with more than 530 new energy-efficient homes to be delivered across the former British Steel and Crane Foundry site and land off Qualcast Road, which has lain derelict for 15 years.

    The 17.5-acre former industrial site established by City of Wolverhampton Council and Canal & River Trust is located within the city centre – moments from the transport interchange – and benefits from frontage onto the Wyrley & Essington Canal and the Wolverhampton Branch of the Birmingham Main Line Canal.

    The Mayor said: “It’s exciting to think that this huge derelict site – the size of ten football pitches – will soon become a place where people can live, raise families and thrive.

    “And schemes like Canalside South are not just about building homes, they rebuild communities – giving people places they can feel connected to and proud of. 

    “The investment announced today is significant because this scheme has a vital role to play in the on-going regeneration of Wolverhampton, providing hundreds of badly needed new homes, more than 100 of them affordable, within a stone’s throw of the city centre.”

    Wavensmere Homes received planning approval from City of Wolverhampton Council for the landmark Canalside South project at the end of September 2024. Ground preparation works will commence on site imminently, followed by the four-year construction programme. 

    The overall vision for the Wolverhampton Canalside masterplan is the delivery of around 1,000 homes to meet both the city and wider region’s housing needs, with sustainability and place-making at its heart.

    Designed by Glancy Nicholls Architects, the low-rise development will emulate the surrounding conservation area and maximise the canalside setting.

    The scheme will include seven acres of vibrant green space and a range of commercial amenities. It will also open up a new pedestrian route to the city core – reducing the previous walk time by 20 minutes – and ignite new investment into a commercial corridor. 

    Wavensmere Homes will be constructing 378 two-and three-bedroom townhouses, designed to target an EPC-A rated specification, together with 145 one-and two-bedroom apartments.

    A building of 10 co-living units – each containing six bedrooms – will deliver affordable living typologies to young professionals. 54 houses, together with 80 apartment and co-living bedrooms will benefit from waterside views.

    The multi-award-winning urban regeneration specialist will also be reanimating the disused railway arches on the site into 1,338sqm (14,400 sq ft) of lettable commercial space.

    Access to the WMCA funding was provided by the Property Team at Frontier Development Capital Ltd (FDC) which works closely with property developers to arrange investments from the WMCA’s regeneration funds.

    James Dickens, Managing Director of Wavensmere Homes, said: “The agreement of this loan facility FDC will enable us to start on site at Canalside South only nine months after we first unveiled the plans at UKREiiF. As a Birmingham-based developer, it’s great to be working with a leading local finance house that knows us so well.

    “Our in-house team has a strong history of regenerating vacant land in the Black Country and we can’t wait to begin transforming this site into a landmark development the whole region can be immensely proud of.”

    Wavensmere Homes will future-proof the new homes by installing electric only heating systems. A range of technologies will be utilised across the development, consisting of air source heat pumps, solar panels and mechanical ventilation with heat recovery (MVHR). There will also be EV charging to each house or parking space, alongside an array of EV chargers for visitors.

    Cllr Stephen Simkins, City of Wolverhampton Council Leader, said: “This project is fundamental to our brownfield first strategy, driving investment into the Green Innovation Corridor, and it will also fulfil a key objective of our Canalside Delivery Partnership with the Canal & River Trust. We are looking forward to work starting on site. Bringing life back to the redundant sites along our canal network is critical to boosting footfall into our city centre.

    “As one of the largest new housing developments in the Midlands, Wavensmere’s £150m investment plans, supported by the council, Canal & River Trust and WMCA, will enable Wolverhampton residents to benefit from superb connectivity, amenities, and health and wellbeing opportunities at this wonderful heritage location.”

    The funding agreement marks the second time Frontier Development Capital – part of Mercia Asset Management PLC – and Wavensmere Homes have teamed up to deliver brownfield regeneration within the West Midlands.

    The Birmingham-based lender provided a £4m loan in 2019 to facilitate the redevelopment of The Forge on Bradford Street in Digbeth. 142 apartments were built by Wavensmere at the former factory site.

    Kieren Turner-Owen, Associate Director of Property Finance for Frontier Development Capital, said: “Our focus is proudly on investing in the West Midlands, so we are thrilled to be selected as the debt funding partner for one of the region’s most high-profile regeneration schemes. With well over 500 mixed-tenure homes and complementary amenities, Wolverhampton Canalside South is an integral development for the revitalisation of this West Midlands city.

    “Since agreeing our first deal with Wavensmere Homes five years ago, the company has accrued a reputation as one of the UK’s most prominent and impressive SME housebuilders. This new loan facility sits sweetly within our funding parameters and we could not be more excited to be involved with bringing about the transformation of such a key waterside development. Our focuses are aligned in regenerating complex brownfield sites, with Canalside South allowing our excellent relationship with the Wavensmere team to continue.”

    Birmingham-headquartered Wavensmere Homes has 3,500 homes on site, or currently in planning. The firm is in the final phase of the £175m Nightingale Quarter, which is the redevelopment of the former Derbyshire Royal Infirmary into 925 energy-efficient houses, apartments, and community amenities. The company is constructing five other major brownfield regeneration schemes, located in central Birmingham, Derby, Cheltenham, and Ipswich, and has further projects in the immediate pipeline.

    To view the plans, visit canalsideWV1.co.uk

    MIL OSI United Kingdom –

  • MIL-OSI USA: Seasonal Respiratory Illnesses Surge In North Carolina

    Source: US State of North Carolina

    Headline: Seasonal Respiratory Illnesses Surge In North Carolina

    Seasonal Respiratory Illnesses Surge In North Carolina
    hejones1

    The North Carolina Department of Health and Human Services today updated its weekly Respiratory Virus Summary Dashboard, which shows an increase in flu activity and flu-related deaths, bringing the total number of deaths this season to 117.

    “While fewer flu-related deaths have been reported so far this season compared to last season, we are at the height of seasonal respiratory illnesses and this is a reminder that influenza can be very serious,” said State Epidemiologist Zack Moore, M.D., MPH. “Taking preventative measures against flu and other respiratory illnesses like getting vaccinated, regularly washing hands, covering your cough and staying home when sick are important to help protect you and your family.”

    Influenza is spreading widely throughout the state and is likely to peak in the coming weeks. Fifty-one new flu deaths were added to the statewide dashboard on Wednesday, but the newly added deaths occurred over the last few weeks as there are often delays in reporting. COVID-19 and respiratory syncytial virus (RSV) are also continuing to spread, although RSV levels have been decreasing in recent weeks.

    Early testing and treatment with an antiviral drug can help prevent respiratory infections from becoming more serious. Treatments work best if started soon after symptoms begin. If you begin to feel sick, contact your doctor right away to see if you need treatment with a prescription antiviral drug. Treatment for flu and COVID-19 is especially important for people with severe illness and those who are at high risk of serious complications based on their age or medical conditions.

    It is not too late to get your flu and COVID-19 vaccinations as vaccinations are the best way to prevent serious illness, hospitalization and death from these infections. Vaccinations are especially important for those at higher risk of severe viral respiratory disease, including people 65 years and older, children younger than 5, pregnant women, those with a weakened immune system and those with certain medical conditions such as asthma, diabetes, heart disease and obesity. Vaccines and treatments to protect against RSV are also available for older adults, pregnant women, and infants.

    In addition to vaccination, the following precautions should be taken to protect against the spread of respiratory viruses:

    • Regularly wash your hands with soap and water. Alcohol-based cleaner or sanitizer can help prevent the spread of respiratory viruses to others but does not work for some other common viruses like norovirus.
    • Avoid touching your eyes, nose and mouth
    • Clean and disinfect frequently touched surfaces and objects that may be contaminated
    • Cover coughs and sneezes with a tissue and then discard the tissue promptly
    • Stay home when sick, except to seek medical care or testing, and take steps to avoid spreading infection to others in your home, including:
      • Staying in a separate room from other household members, if possible
      • Using a separate bathroom, if possible
      • Avoiding contact with other members of the household and pets
      • Not sharing personal household items, like cups, towels and utensils
      • Wearing a mask when around other people

    For more information on respiratory viruses, including how to access vaccines, testing and treatment in your community, visit www.vaccines.gov/en, flu.ncdhhs.gov or covid19.ncdhhs.gov.

    A respiratory virus surveillance summary that includes information on flu, COVID-19 and RSV-related activity across North Carolina is updated weekly at covid19.ncdhhs.gov/dashboard.

    El Departamento de Salud y Servicios Humanos de Carolina del Norte actualizó hoy su  tablero de resumen del virus respiratorio semanal, que muestra un aumento en la actividad de la influenza (gripe) y las muertes relacionadas con la misma, lo que eleva el número total de muertes esta temporada a 117.

    “Aunque se han reportado menos muertes relacionadas con la influeza (gripe) en lo que va esta temporada en comparación con la temporada pasada, nos encontramos en el punto más alto de las enfermedades respiratorias estacionales y esto es un recordatorio de que la gripe puede ser muy grave”, dijo el epidemiólogo estatal Zack Moore, MD, MPH. “Tomar medidas preventivas contra la gripe y otras enfermedades respiratorias, como vacunarse, lavarse las manos con regularidad, cubrirse la tos y quedarse en casa cuando está enfermo, es importante para ayudar a protegerlo a usted y a su familia”.

    La influenza se está extendiendo por todo el estado y es probable que alcance su punto máximo en las próximas semanas. El miércoles se añadieron al tablero de control de todo el estado cincuenta y uno nuevas muertes debido a la influenza, pero las muertes recién añadidas ocurrieron en las últimas semanas, ya que a menudo hay retrasos en la presentación de informes. El COVID-19 y el virus respiratorio sincitial (VSR) también continúan propagándose, aunque los niveles de VSR han ido disminuyendo en las últimas semanas.

    Las pruebas y el tratamiento temprano con un medicamento antiviral pueden ayudar a prevenir que las infecciones respiratorias se vuelvan más graves. Los tratamientos funcionan mejor si se inician poco después de que comiencen los síntomas. Si comienza a sentirse enfermo, comuníquese con su médico de inmediato para ver si necesita tratamiento con un medicamento antiviral recetado. El tratamiento para la influenza y el COVID-19 es especialmente importante para las personas con enfermedades graves y aquellas que tienen un alto riesgo de complicaciones graves en función de su edad o afecciones médicas.

    No es demasiado tarde para vacunarse contra la influenza y el COVID-19, ya que las vacunas son la mejor manera de prevenir enfermedades graves, hospitalizaciones y muertes por estas infecciones. Las vacunas son especialmente importantes para las personas con mayor riesgo de enfermedad respiratoria viral grave, incluidas las personas de 65 años o más, los niños menores de 5 años, las mujeres embarazadas, las personas con un sistema inmunitario debilitado y las personas con ciertas afecciones médicas como el asma, la diabetes, las enfermedades cardíacas y la obesidad. Las vacunas y los tratamientos para protegerse contra el VSR también están disponibles para adultos mayores, mujeres embarazadas y bebés.

    Además de la vacunación, se deben tomar las siguientes precauciones para protegerse contra la propagación de virus respiratorios:

    • Lávese las manos con agua y jabón; el limpiador o desinfectante a base de alcohol puede ayudar a prevenir la propagación de virus respiratorios a otros, pero no funciona para algunos otros virus comunes como el norovirus.
    • Evite tocarse los ojos, la nariz y la boca
    • Limpie y desinfecte las superficies y los objetos que podrían estar contaminados
    • Cubra la tos y los estornudos con un pañuelo de papel y luego deseche el pañuelo de papel rápidamente
    • Quédese en casa cuando esté enfermo, excepto para buscar atención médica o pruebas, y tome medidas para evitar transmitir la infección a otras personas en su hogar, como:
      • Alojarse en una habitación separada de otros miembros del hogar, si es posible
      • Usar un baño separado, si es posible
      • Evitar el contacto con otros miembros del hogar y mascotas
      • No compartir artículos personales de uso doméstico, como tazas, toallas y utensilios
      • Usar una mascarilla cuando esté cerca de otras personas

    Para obtener más información sobre los virus respiratorios, incluido cómo acceder a las vacunas, las pruebas y el tratamiento en su comunidad, visite  www.vaccines.gov/en, flu.ncdhhs.gov o covid19.ncdhhs.gov.

    Un resumen de la vigilancia del virus respiratorio que incluye información sobre la gripe, el COVID-19 y la actividad relacionada con el VSR en Carolina del Norte se actualiza semanalmente en  covid19.ncdhhs.gov/dashboard.

    Feb 5, 2025

    MIL OSI USA News –

  • MIL-OSI Security: Shelburne — Shelburne RCMP charges man after seizing firearms

    Source: Royal Canadian Mounted Police

    Shelburne RCMP Detachment has charged a Westphal man with multiple offences after executing a search warrant at a residence and seizing multiple firearms.

    On January 17, Shelburne RCMP responded to a report of an assault with a weapon, and learned that a man had assaulted an individual at a Shelburne home and left before police arrived. Subsequent attempts to locate and arrest the man were unsuccessful.

    On February 3, at approximately 4:30 p.m., RCMP officers learned that the man was at a residence on Parr St., and established containment of the home. Investigators evacuated surrounding residences and the Nova Scotia RCMP’s Emergency Response Team (ERT) attended the location.

    At approximately 9 p.m., ERT, supported by the RCMP’s Crisis Negotiation Team and Police Dog Services, safely arrested 28-year-old Liam Colin Cockerill.

    The Parr St. home was secured and officers executed a search warrant; they seized two firearms and a variety of ammunition.

    Cockerill has been remanded into custody and, at this time, faces 21 charges, including:

    • Assault
    • Assault with a Weapon
    • Possession of a Weapon for a Dangerous Purpose
    • Careless Storage of a Firearm (three counts)
    • Possession of a Prohibited Firearm
    • Possession of a Loaded Firearm
    • Possession of a Firearm While Prohibited
    • Failure to Comply with Undertaking

    The investigation is ongoing. Anyone with information is asked to contact Shelburne RCMP at 902-875-2490. To remain anonymous, call Nova Scotia Crime Stoppers, toll-free, at 1-800-222-TIPS (8477), submit a secure web tip at www.crimestoppers.ns.ca, or use the P3 Tips app.

    MIL Security OSI –

  • MIL-OSI Global: What Trump’s proposal to ‘take over’ Gaza could mean for Arab-Israeli relations

    Source: The Conversation – UK – By Simon Mabon, Professor of International Relations, Lancaster University

    US president Donald Trump has made the extraordinary suggestion that the US should seize control of the Gaza Strip and permanently remove its Palestinian inhabitants. Speaking to the press at the White House alongside the Israeli prime minister, Benjamin Netanyahu, Trump said the US would “own [Gaza] and be responsible”.

    When pushed on the practicalities of such a move, Trump replied that the US would “do what is necessary” and develop the land into the “riviera of the Middle East”. “It’ll be something that the entire Middle East can be very proud of,” he said.

    The secretary of state, Marco Rubio, later wrote in a post on X: “The United States stands ready to lead and Make Gaza Beautiful Again. Our pursuit is one of lasting peace in the region for all people.”

    Trump’s declaration has been celebrated by many on the Israeli right, who have long supported the removal of Palestinian residents from Gaza. But it has also been met with anger across the Arab world and beyond.

    Francesca Albanese, the UN special rapporteur on the occupied Palestinian territories, called Trump’s proposal “incitement to commit forced displacement”. Some politicians have described his comments as an endorsement of ethnic cleansing.

    Trump first uttered his desire to “clean out” Gaza a week before this announcement. This prompted foreign ministers from Saudi Arabia, the United Arab Emirates, Qatar, Jordan and Egypt to sign a statement affirming their rejection of efforts to “compromise Palestinians’ unalienable rights, whether through settlement activities, or evictions or annex of land or through vacating the land from its owners”.

    The statement, made by a group of states not generally known for operating in a unified manner, ended by congratulating Rubio on his appointment. But the message to the Trump administration was clear: the two-state solution is the only viable solution to the Israeli-Palestinian conflict.

    Trump’s latest proclamations will deepen schisms across the region between Israel and its Arab neighbours, and prompt questions about the future role of the US in the Middle East.

    Egypt and Jordan’s response

    Any attempt by Washington to seize control of Gaza, which would almost certainly involve military force, would evoke parallels with 1948 and what is known in Arabic as the nakba, or “the catastrophe”.

    At that time, many Palestinians had to flee their land in what is now Israel, setting in motion decades of conflict between Israel and neighbouring Arab states. Acts of terrorism in the intervening years have cost thousands of lives on all sides.

    Trump’s call for Arab states to take in Palestinians from Gaza – who he says have no alternative but to abandon the coastal strip – ignores the strength of feeling across the world about the Palestinian issue.

    Egypt, for example, has long rejected the idea of housing Gaza’s population, amid growing socio-economic pressures and longstanding fears of Islamist violence. And Jordan has been steadfast in its desire not to host more Palestinians, having already provided refuge for people fleeing Palestine in 1948 and 1967. It has, more recently, also become the main destination for refugees from Lebanon, Syria and Iraq.

    On February 5, Egypt’s foreign minister, Badr Abdelatty, met with the prime minister of the Palestinian Authority, Mohammed Mustafa, in Cairo. According to an Egyptian foreign ministry statement, the pair jointly rejected Trump’s proposal for a US takeover of Gaza.

    Egypt and Jordan have both signed peace deals with Israel. But relations have not always been cordial, and the destruction of Gaza has exacerbated these tensions. Trump’s latest comments, as well as those from the Israeli right, will only worsen the situation.

    Relations with Saudi Arabia

    During Trump’s first term, his administration secured a significant diplomatic victory by brokering the Abraham accords. The accords, all of which were signed in the latter half of 2020, normalised relations between Israel and the United Arab Emirates, Bahrain and later Morocco.

    The signatories to the Abraham accords have been conspicuously quiet about Israel’s actions in Gaza. And it remains to be seen what effect Trump’s proposed Gaza takeover could have on relations between these states. The United Arab Emirates, Bahrain and Morocco have, at the time of writing, not yet announced their response.

    Saudi Arabia, on the other hand, has remained the jewel in the diplomatic crown seemingly out of reach both for the Trump administration and that of his successor, Joe Biden. The kingdom occupies a prominent place within the Arab and Muslim world by virtue of its custodianship of the two holy mosques of Mecca and Medina.

    Crown Prince Mohammed bin Salman, Saudi Arabia’s de facto ruler, has taken an increasingly hard line on normalisation with Israel in recent months, suggesting that such a deal would not be possible without the establishment of a Palestinian state.

    In a statement released on February 5, the Saudi foreign ministry said it rejected “any attempts to displace the Palestinians from their land”. And bin Salman has affirmed the kingdom’s position that it would not establish ties with Israel without a Palestinian state.

    During his press conference, Trump suggested that Saudi Arabia was not demanding a Palestinian homeland. But statements from Saudi officials since then contradict this narrative and point to increasingly divergent views on Gaza – and indeed, the future of Palestine – between Riyadh and Washington.

    Fundamentally, Trump’s remarks are the latest in a long line of bombastic diplomatic flourishes that appear designed to provoke as much as to enact policy. But in this case, even rhetorical provocations will have consequences for already strained relations between Israel and the wider Arab world.

    Simon Mabon receives funding from the Carnegie Corporation of New York. He is a Senior Research Fellow at the Foreign Policy Centre in London.

    – ref. What Trump’s proposal to ‘take over’ Gaza could mean for Arab-Israeli relations – https://theconversation.com/what-trumps-proposal-to-take-over-gaza-could-mean-for-arab-israeli-relations-249184

    MIL OSI – Global Reports –

  • MIL-OSI Global: England plans to make academies follow the national curriculum – but it’s been getting more prescriptive for years

    Source: The Conversation – UK – By Dominic Wyse, Professor of Early Childhood and Primary Education, UCL

    Juice Flair/Shutterstock

    A national curriculum sets out what state school pupils should be taught during their time at school. But in England, the national curriculum currently applies to only around 44% of children – those in schools run by their local authority.

    The remaining children, including 81.7% of secondary school pupils, are at academies. These schools, the result of a policy to address disadvantage in education, are free to set their own curriculum. Independent, fee-paying schools have never had to follow the national curriculum.

    The government’s children’s wellbeing and schools bill proposes that academy schools would, for the first time, be required to follow the national curriculum.

    This proposal, along with others set to reduce the autonomy of academies, has raised some debate. Academies and their associated freedoms were a flagship policy of the previous Conservative government. Laura Trott, shadow education secretary, has said: “The Bill seeks to turn its back on Labour’s history and take back those academy freedoms on curriculum, on pay and on behaviour. You name it, they are reversing it — all the things that have done so much to improve our education system … And who will suffer? The poorest pupils in society.”

    As well as considering whether all pupils should be taught the national curriculum, England is currently in the middle of a review of the content of the curriculum itself. This is an excellent opportunity to consider how England’s national curriculum can best serve pupils and improve their education. Much evidence suggests the current curriculum is too prescriptive.

    One advantage of not having to follow the national curriculum is that schools can develop a programme of teaching, and how they go about teaching it, that is more closely aligned with the particular context of their school community and pupils.

    Teachers value having autonomy over what they teach.
    LightField Studios/Shutterstock

    Also, for many teachers, the power to control their curriculum is an appealing prospect that links with their professional identity (although evidence has shown that in some multi-academy trusts – groups of academy schools run together – teachers actually have less autonomy).

    Evidence from my forthcoming book with colleague Yana Manyukhina on how children experience the national curriculum shows that some schools who do not have to follow the national curriculum make use of it anyway. However, the academy school in our research project was also able and confident to innovate with their school curriculum by giving children more choices over their learning – in ways that the children we interviewed said highly motivated them.

    Government control

    A national curriculum was first established in England in 1988. Since then, there have been multiple significant revisions. Sometimes these revisions have been quite radical, overturning the ideas and details of previous national curricula.

    The current national curriculum was instituted in 2014. It was developed under the Conservative-Liberal Democrat coalition government and during Michael Gove’s time as secretary of state for education.

    One of the claims in favour of a country or region having a national curriculum is that this ensures that all pupils in a country have an entitlement to learn the same knowledge, skills and other aspects, such as values. The idea is that this will support educational standards by ensuring that all pupils have access to a baseline of knowledge.

    But national curricula often give power to governments to control what happens in lessons in schools. This limits what teachers can make professional decisions about, and provides less scope for teachers to build their teaching on the interests of the pupils that they teach.

    Before 1988, primary school teachers had full control over the curriculum and the teaching methods that they used. England’s first national curricula specified the knowledge to be taught but did not stray into the methods that teachers should use in order to teach.

    For more than two decades, my colleagues and I have tracked the intensification of control, by successive governments in England, over not only the content of the subject of English in primary schools but also the way it is taught. For instance, from 2021 guidance was added to the national curriculum prescribing that the teaching of reading must be taught through the one approach of “synthetic phonics”.

    Government actions are often to some degree based on political ideology. If they have the power to control the curriculum, their ideology can sometimes result in programmes of study that are not sufficiently based on what research shows is likely to be effective.

    For instance, my research shows that the heavy emphasis on the teaching of formal grammatical terms in the current curriculum is not based on evidence as to its value in teaching writing, suggesting that it is rather the result of ideological commitment.

    Irrespective of whether ultimately all schools are required to follow the national curriculum, the new curriculum should be much more evidence-based than the current one.

    A national curriculum can be a useful framework for schools. But it should not restrict subjects and teaching methods that may be of great benefit to children. I would argue that all schools should be given more freedom over the curriculum, and particularly over teaching methods. The government should publish a recommended curriculum that, crucially, schools are not bound in law to follow.

    Dominic Wyse receives funding for the research centre The Helen Hamlyn Centre for Pedagogy (HHCP) from The Helen Hamlyn Trust. The Children’s Agency and the National Curriculum research project was funded by The Leverhulme Trust. He is currently advising on the primary curriculum for the National Council for Curriculum and Assessment in Ireland. He is advising the Welsh Government as part of his membership of the expert group on literacy.

    – ref. England plans to make academies follow the national curriculum – but it’s been getting more prescriptive for years – https://theconversation.com/england-plans-to-make-academies-follow-the-national-curriculum-but-its-been-getting-more-prescriptive-for-years-248508

    MIL OSI – Global Reports –

  • MIL-OSI Global: Psychotherapy may change memories of childhood – here’s why practitioners should warn clients

    Source: The Conversation – UK – By Lawrence Patihis, Senior Lecturer in Psychology, University of Portsmouth

    Yuri A/Shutterstock

    One of the unfortunate legacies that my generation, gen X, has passed on to the millennials and gen Z, is the idea that therapy has no side effects. However, just like many other medical treatments, there can be negative effects. For example, in some cases psychotherapy can be linked with a worsening of psychiatric symptoms, increased anxiety and false memories.

    My team’s recent paper investigated the effect of evaluating a parent on the basis of their emotions and memories of those emotions in childhood. Our findings, which show these kinds of reappraisals can distort memories, may have implications for talking therapies that explore clients’ childhoods.

    Previous research has shown that as people’s thoughts change, their memory of emotions seems to do so too. In 1997 psychology professor Linda Levine found that people misremembered how they had felt when Ross Perot withdrew from the 1992 US presidential race, when they were asked to recall their emotions after the election. Psychologist Martin Safer found in his 2010 study that some people misremembered how much grief they felt when their spouse died, and this bias was related to their current evaluation of the death.

    In my team’s study, published in Psychological Reports, we found that writing out recent examples of participants’ mothers’ behaviour could lead them to reappraise their mother. It also seemed to change the participants’ current emotions towards their mother. And most surprisingly, it seemed to subtly affect the participants’ memories of emotions from childhood.

    Our participants were split into four groups and given different writing prompts. The first group were asked to give recent examples of their mother showing a positive attribute. For example: “Please write three to four sentences giving the most recent examples of when your mother showed competence (effectiveness) in her life.”

    The second group were asked to give examples of their mother showing a lack of those same attributes. A third group were asked to give examples of a former teacher showing a lack of positive attributes and the last group were given no writing tasks.

    The participants were then given questionnaires asking them to evaluate their mothers and about their memories of their emotions toward their mothers.

    We found that these reappraisals affected participants’ current happiness and interest towards their mother. Reappraisal also affected their memories of happiness from childhood.

    Counselling isn’t free of risks.
    Prostock-studio/Shutterstock

    In these experiments, we slightly nudged people’s appraisals of their mothers. But this may happen in a bigger way in the real world. Talking to a therapist for years in a way that reconstructs a client’s childhood, and then linking this to their problems, could cause more significant reappraisals of their parents. What therapy clients may not realise, nor perhaps even their therapist, is that these reevaluations could be changing their memories of childhood.

    Warning signs

    I believe that clients should be aware of the side effects of therapy, and there should be a line or two on the malleability of memory on the forms people sign before therapy begins.

    It would also help if all therapists were taught in their training about the ways memory can be distorted. Indeed, research on infantile and childhood amnesia suggests that humans seem to remember little of early childhood, leaving us all vulnerable to reappraising that period.

    We might debate whether therapists should be making negative comments about parents. Perhaps in cases of abuse, some might argue it could help. But in many other types of clients, therapists making negative comments could have a powerful effect that far exceeds our experimental nudges. For example: “Wow, your mother sounds like a controlling type,” if repeated enough by therapists, might cause reappraisals and family rifts over time.

    In some cases, reevaluating your parents in a positive direction can lead to better relationships over time. This may result in the real joy of childhood being better remembered and appreciated. Positive reevaluations may actually be fair and moving towards accuracy. For example in cases where previous negative reappraisals in adolescence and early adulthood were unfair and forgetful of the sacrifice and love the parents had given in early childhood.

    Nevertheless, there is a potential negative side effect if parents are positively reappraised too much. If your parents had set up conditions to illicit a lot of negative emotions in childhood, glossing over that might increase the risk of repeating the same mistakes as you raise your own children.

    I am a strong believer in living an examined life. People should be free to practice psychotherapy, and clients should be welcome to seek out therapies that dig deep into parental and childhood themes. In the same way that people who need X-rays should get them despite the small risks, people who need therapy should take it.

    Better to be as accurate as you can be, as we live fully examined and rich lives.

    Lawrence Patihis does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Psychotherapy may change memories of childhood – here’s why practitioners should warn clients – https://theconversation.com/psychotherapy-may-change-memories-of-childhood-heres-why-practitioners-should-warn-clients-243060

    MIL OSI – Global Reports –

  • MIL-OSI Global: Why personal climate action matters – according to experts

    Source: The Conversation – UK – By Jack Marley, Environment + Energy Editor, UK edition

    EL_Images/Shutterstock

    Do you feel powerless?

    You probably aren’t responsible for the investment decisions of an energy company, nor do you have a hand in government policy. But still, you are reading about climate change – a problem that can easily seem intractable to most people.

    The Veganuary campaign reported record participation this year: 25.8 million people worldwide tried a lighter lifestyle without meat and dairy in January, knowing that enormous emission sources sit beyond their immediate control. If such resolve to fix our planet exists, how can people exercise it?

    This roundup of The Conversation’s climate coverage comes from our award-winning weekly climate action newsletter. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 40,000+ readers who’ve subscribed.

    You might be used to thinking of climate change in terms of your carbon footprint. That’s no accident, says science communicator Sam Illingworth (Edinburgh Napier). A public relations firm, hired by oil giant BP, invented the concept in 2004 as part of a deliberate effort to shift attention from corporate culpability, he says.

    “In my research into climate communication, I see how stories of guilt resonate with communities already facing misplaced blame,” Illingworth adds.

    You’re not alone

    “Net zero heroes” are set up to fail, Illingworth says. But realising this only makes collective action more important, and shows the futility of trying to bear the weight of the problem on your own.



    Read more:
    You don’t have to be a net zero hero – how focus on personal climate action can distract from systemic problems

    Your choices do not exist in a vacuum. Earth is an interconnected community of living and non-living things says ethicist Patrick Effiong Ben of the University of Manchester. African philosophers like Jonathan Chimakonam and Aïda Terblanché-Greeff have a helpful concept for thinking through the weightiness of your decisions: complementarity.

    Life on Earth is connected in often subtle and unpredictable ways.
    Lois GoBe/Shutterstock

    “Complementarity holds that the relationships that unite individual things can extend to prove the value of every contribution, no matter its size,” Ben says.



    Read more:
    Think your efforts to help the climate don’t matter? African philosophers disagree

    You can test this notion by choosing to eat a plant-based diet or forgo flying and observing your influence on others. If you’re sceptical, just think how many of your habits or turns of phrase are borrowed from loved ones. Steve Westlake, a behavioural psychologist at Cardiff University, says that your pro-environment choices can ultimately alter what other people consider “normal”.

    “In a survey I conducted, half of the respondents who knew someone who has given up flying because of climate change said they fly less because of this example. That alone seemed pretty impressive to me,” he says.



    Read more:
    Climate change: yes, your individual action does make a difference

    “They explained that the bold and unusual position to give up flying had: conveyed the seriousness of climate change and flying’s contribution to it; crystallised the link between values and actions; and even reduced feelings of isolation that flying less was a valid and sensible response to climate change.”

    What’s stopping us?

    Often, is is not apathy that holds us back, but a seeming lack of options. In the UK, where I live, a train is by far the better travel choice emissions-wise but it is usually much more expensive than a flight that covers the same distance.

    Environmental psychologists Christina Demski (University of Bath) and Stuart Capstick (Cardiff University) criticise the laissez-faire approach of successive governments that have “[gone] with the grain of consumer choice” while failing to recognise that many people would gladly choose the green option if they could afford or access it.



    Read more:
    To address climate change, lifestyles must change – but the government’s reluctance to help is holding us back

    This desire to do something meaningful is continually frustrated, they say, but it will not vanish as the crisis worsens. Everyone alive and yet to live needs a liveable climate. Securing it is within our technical and material means.

    The human species has no home but this one.
    Canities/Shutterstock

    Just listen to this from sustainability researcher Joel Millward-Hopkins (Université de Lausanne, previously University of Leeds):

    “Fortunately, in new research we found that using 60% less energy than today, decent living standards could be provided to a global population of 10 billion by 2050. That’s 75% less energy than the world is currently forecast to consume by 2050 on our present trajectory – or as much energy as the world used in the 1960s.”



    Read more:
    How 10 billion people could live well by 2050 – using as much energy as we did 60 years ago

    Instead of seeing your new vegan diet as a personal choice, think of it as a political act taken in solidarity with people and other species bearing the brunt of climate change say political philosophers Alasdair Cochrane (University of Sheffield) and Mara-Daria Cojocaru (Munich School of Philosophy).



    Read more:
    Veganism: why we should see it as a political movement rather than a dietary choice

    And remember that it isn’t all sacrifice. The joy that is possible with more expensive and more energy-hungry lifestyles is fleeting says Capstick, but contentment, he argues, is low-carbon.



    Read more:
    Climate change: greener lifestyles linked to greater happiness – in both rich and poor countries

    – ref. Why personal climate action matters – according to experts – https://theconversation.com/why-personal-climate-action-matters-according-to-experts-248960

    MIL OSI – Global Reports –

  • MIL-OSI USA: Cantwell Takes to Senate Floor to Oppose Trump’s Trade Philosophy: No to Tariffs, Yes to Innovation, Collaboration & Growth

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell

    02.05.25

    Cantwell Takes to Senate Floor to Oppose Trump’s Trade Philosophy: No to Tariffs, Yes to Innovation, Collaboration & Growth

    In speech on Senate floor, Cantwell advocates for new U.S. trade agreements with Southeast Asia, the Middle East, & the Americas to strengthen ties with allies & grow the economy at home; Cantwell slams proposed Trump tariffs: “The payers in this dispute are never the government leaders … it’s the workers who lose their job.”

    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), the ranking member of the Senate Committee on Commerce, Science, and Transportation, delivered a speech on the Senate floor calling for the United States to establish new trade agreements with Southeast Asia, the Middle East, and Latin America – and to repudiate the trade philosophy of President Donald Trump, whose proposed tariffs on goods from Canada, Mexico, and China would spark a trade war, drive up costs for American consumers, harm domestic businesses across hundreds of industries, and compromise the United States’ global leadership in the free trade ecosystem.

    “It’s better to have a job than be attracted to join a terrorist organization. It’s better to create economic stability than fueling poverty and migration […] Last week, I spoke about additional investments the United States needs to make in Panama, Latin America, and others, to link and modernize bilateral agreements that help us counter China,” Sen. Cantwell said. “Free trade agreements are a way for us — not tariffs — to gain the leverage we want. South Asia could play an important role in this coalition building, particularly in the Indo-Pacific region. But I want us to go further. I want us to understand that U.S.-led negotiations in a Middle East free trade agreement to build on the momentum of a ceasefire in Gaza could further stabilize that region.”

    In her speech, Sen. Cantwell railed against President Donald Trump’s tariff’s proposal, likening his isolationist trade policies to an attempt to make time stand still – a futile goal at any point, but especially during the modern information age, when countries are more interconnected than ever and the United States is locked in an innovation race in artificial intelligence and quantum technology. She also called on the United States to invest in its workforce, research & development, science, and capital investment to modernize its manufacturing and stay competitive.

    “To outcompete our adversaries, we need coalitions, not go-it-alone strategies. Why do we fear this if we think our principles are correct? But somehow the current administration thinks that we’ve been hurt more than we’ve been helped in this global equation, and they want us to believe that somehow there is a win-win situation on tariffs that they can deliver on,” Sen. Cantwell said.

    “Tariffs are a distortion of markets. Tariffs mean we disagree. It very rarely means the disagreement will be resolved quickly. It usually means people will retaliate, and the escalation of that retaliation will hurt consumers so much so that eventually someone will blink,” she continued. “The payers in this dispute, though, are never the government leaders. No, it’s the workers who lose their job. It’s the family that pays higher cost. It’s the community that loses their economic activity and tax revenue.”

    In Washington state: Two out of every five jobs are tied to trade and related industries. In 2023, the state imported $19.9 billion of goods from Canada – primarily oil, gas, lumber, and electrical power — making our northern neighbors Washington state’s largest trade partner. Also in 2023, the state imported $1.7 billion in goods from Mexico, including motor vehicles, vehicle parts, and household appliances. More information about how President Trump’s proposed tariffs will impact businesses and consumers in the State of Washington is HERE.

    Sen. Cantwell has remained a steadfast supporter of free trade to grow the economy in the State of Washington and nationwide. Sen. Cantwell was the leading voice in negotiations to end India’s 20% retaliatory tariff on American apples, which devastated Washington state’s apple exports.  India had once been the second-largest export market for American apples, but after then-President Trump imposed tariffs on steel and aluminum in his first term, India imposed retaliatory tariffs in response and U.S. apple exports plummeted.  The impact on Washington apple growers was severe:  apple exports from the state dropped from $120 million in 2017 to less than $1 million by 2023.  In September 2023, India ended its retaliatory tariffs on apples and pulse crops following several years of Sen. Cantwell’s advocacy, which was welcome news to the state’s more than 1,400 apple growers and the 68,000-plus workers they support.

    In May 2023, Sen. Cantwell sent a letter urging the Biden Administration to help U.S. potato growers finally get approval to sell fresh potatoes in Japan. In June 2023, Sen. Cantwell hosted U.S. Sen. Debbie Stabenow (D-MI), then-chair of the Committee on Agriculture, Nutrition, and Forestry, in Washington state for a forum with 30 local agricultural leaders in Wenatchee to discuss the Farm Bill.

    In 2022, Sen. Cantwell spearheaded passage of the Ocean Shipping Reform Act, a law to crack down on skyrocketing international ocean shipping costs and ease supply chain backlogs that raise prices for consumers and make it harder for U.S. farmers and exporters to get their goods to the global market.

    In August 2020, during the height of the COVID-19 pandemic, Sen. Cantwell sent a letter to then-Secretary of Agriculture Sonny Perdue requesting aid funds be distributed to wheat growers. In December 2018, Sen. Cantwell celebrated the passage of the Farm Bill, which included $500 million of assistance for farmers, including those who grow wheat.

    In 2019, Sen. Cantwell helped secure a provision in the $16 billion USDA relief package, ensuring sweet cherry growers could access emergency funding to offset the impacts of tariffs and other market disruptions.

    Video of today’s speech is available HERE; and a transcript of Sen. Cantwell’s remarks is available HERE.

    MIL OSI USA News –

  • MIL-OSI USA: Fischer, King Reintroduce Legislation to Help America’s Working Families

    US Senate News:

    Source: United States Senator for Nebraska Deb Fischer

    Today, U.S. Senators Deb Fischer (R-Neb.) and Angus King (I-Maine) reintroduced the Paid Family and Medical Leave Tax Credit Extension and Enhancement Act. This bipartisan, bicameral legislation will make the Paid Family and Medical Leave (PFML) Employer Tax Credit permanent, helping companies of all sizes offer PFML plans to their employees. 

    Senators Fischer and King established the country’s first-ever nationwide PFML policy, which wasincluded in the 2017 Tax Cuts and Jobs Act and implemented in 2018. The Senators’ legislationbuilds on the 2017 law to better serve working families and hourly workers. It also provides additional ways for businesses to qualify for the paid leave tax credit, such as paying for PFML insurance products, and requires greater outreach efforts to raise awareness about the credit. 

    U.S. Representatives Randy Feenstra (IA-04), Stephanie Bice (OK-05), and Marie Gluesenkamp Perez (WA-03) will introduce identical companion legislation in the House.

    “America’s working families drive our economy forward and strengthen our communities. They shouldn’t have to choose between earning a paycheck and caring for their loved ones. That’s why Senator King and I passed the first-ever nationwide paid family leave law. Now, we need to make our legislation permanent and expand access to ensure that even more businesses can provide paid family leave to the workers who keep them running. I’m determined to get this key legislation included in whatever tax package Congress considers this year,” said Senator Fischer.

    “I have often said that Maine is one big town with long roads and when a member of our community is hurting, we drop everything to take care of our own. However, no one should have to choose between caring for our families or receiving the next paycheck to put food on the table,” said Senator King. “That’s why I’ve been working with my Republican colleague, Deb Fischer of Nebraska, to introduce the Paid Family and Medical Leave Tax Credit Extension and Enhancement Act which makes the PFML tax credit permanent. When families have access to care, they are able to succeed both at home and in their professional careers. Child care is more than a household priority; child care means business!”

    “Paid family and medical leave (PFML) is a lifeline for workers when facing a medical condition or welcoming a newborn into the world. The Tax Cuts and Jobs Act recognized the importance of PFML by helping American small businesses offer these benefits to their employees through the creation of a targeted tax credit specifically for small businesses. However, along with many other policies, this provision expires at the end of the year without action from Congress,” said Congressman Feenstra. “That’s why I introduced legislation to extend and improve this tax credit for our small businesses so that they can provide their workers with up to 12 weeks of PFML without missing a paycheck. As a member of the House Ways and Means Committee, I believe that, by making this policy permanent, we can deliver certainty for our small businesses, keep our workers healthy and employed, and grow our economy and rural communities.”

    “The 45S tax credit, first implemented under the Trump administration, has been instrumental in helping many employers expand paid family leave benefits for their workers. However, awareness and uptake of this credit have been lower than we’d like. This legislation, which I’m pleased to introduce alongside my colleagues, will improve the credit, make it more flexible, increase employer awareness, and make the tax credit permanent,” said Congresswoman Bice.  

    “Taking care of your health, newborn, or family when they’re most in need shouldn’t come at the cost of paying the bills. Strong families mean strong communities and local economies,” said Congresswoman Gluesenkamp Perez. “With the paid family and medical leave tax credit due to expire, our bipartisan legislation will make this successful credit permanent and expand access for Washington-based businesses and newer employees, so more families can feel the benefits.”

    Nebraska Stakeholder Support: 

    “The Nebraska Chamber is committed to making Nebraska the best place to own, operate and grow a business, and this bill brings us one step closer to achieving that. The Paid Family and Medical Leave Tax Credit represents Nebraska business owners’ desire to strengthen the state’s overall workforce. The NE Chamber and businesses across the state appreciate Senator Fischer’s continued leadership on this issue,” said President of the Nebraska Chamber of Commerce Bryan Sloane. 

    “The Lincoln Chamber of Commerce appreciates Senator Fischer’s leadership in her efforts to empower small businesses to provide paid family and medical leave. Senator Fischer’s continued efforts by way of introducing her Paid Family and Medical Leave Tax Credit Extension and Enhancement Act is a continuation of her commitment to employers, employees, families, and communities. We view this crucial policy initiative as something that should be included in any larger pro-growth tax policy package that might be considered,” said Lincoln Chamber of Commerce President Jason Ball.

    “The Greater Omaha Chamber is grateful to Senators Fischer and King for introducing this important legislation. While a broad representation of our membership offers various types of paid leave, incentives will matter to companies and businesses who have greater barriers to offering paid leave, especially our smallest members. This proposed legislation allows us greater opportunities to care holistically for employees the way we strive to, and aligns with the Chamber’s mission,” said Greater Omaha Chamber President and CEO Heath Mello. 

    “The Nebraska Grocers and all our affiliates thank Senator Fischer for her commitment to businesses, families, and communities. By embracing incentives, rather than imposing burdensome and impractical mandates, this Act recognizes that business owners want to provide flexibility to their most valuable resource – their dedicated employees. The Paid Family and Medical Leave Tax Credit Extension and Enhancement Act is genuinely helpful, responsible policymaking which empowers both employers and employees,” said Nebraska Grocery Industry Association Executive Director Ansley Fellers. 

    Full List of Nebraska Endorsements:

    Nebraska Chamber of Commerce, Lincoln Chamber of Commerce, Greater Omaha Chamber of Commerce, Mutual of Omaha, Nebraska Grocery Industry Association, Nebraska Hospitality Association, and Nebraska Retail Federation.

    National Stakeholder Support:

    “AARP, which advocates for the more than 100 million Americans age 50 and older, is pleased to endorse the bipartisan Paid Family and Medical Leave Tax Credit Extension and Enhancement Act. This legislation will provide consistency and certainty to businesses by making tax credit 45S permanent. In addition, the proposed enhancements to the credit will encourage more employers to provide this important benefit to support working family caregivers with low to moderate incomes,” said AARP Senior Vice President of Government Affairs Bill Sweeney.

    “Too many people today face the difficult choice between earning a paycheck and caring for themselves or family member. Senators Fischer and King are offering a bipartisan solution that will go a long way toward helping working families facing this dilemma. The enhanced tax credit will enable more employers—especially small employers— to offer their workers a paid family and medical leave benefit. It also will help more people access this benefit by making it easier for employers to qualify for the credit. Most important, the legislation gives people peace of mind knowing they’ll be protected from economic loss when taking time off from work to care for themselves or a loved one. We applaud Senators Fischer and King for advancing this legislation that offers working Americans the help they want and need,” said American Council of Life Insurers President & CEO David Chavern.

    “Over the last year, the AICPA has worked closely with staff from both Senator Fischer and Senator King‘s offices on important legislation that would help families and middle income households by allowing more employers to offer the benefit of paid family and medical leave to their employees by making the tax credit permanent. We applaud Senators Fischer and King for their thoughtful and consistent leadership on this bill and offer our strong support,” said American Institute of Certified Public Accountants Vice President of Tax Policy & Advocacy Melanie Lauridsen.

    “Benefits like paid family leave help restaurant operators recruit skilled hospitality professionals. Making the Paid Family, Medical Leave tax credit program pilot permanent would support the growth of the small business operators who are considering or offering PFML. In the current economy, we appreciate Sens. Fisher and King’s efforts to support small business restaurant owners and their employees by continuing this program,” said National Restaurant Association Executive Vice President of Public Affairs Sean Kennedy. 

    “NFIB thanks Senator Fischer and Senator King for introducing the Paid Family and Medical Leave Tax Credit Extension and Enhancement Act. Incentivizing small business owners to offer paid family and medical leave rather than penalizing them for failing to provide a benefit that they cannot afford is a wise policy for the small business owners,” said National Federation of Independent Businesses Vice President Federal Government Relations Jeff Brabant.

    “BPC Action is proud to endorse the Paid Family and Medical Leave Tax Credit Extension and Enhancement Act to make permanent and expand the employer tax credit for paid family and medical leave, known as 45S, and applauds Sens. Deb Fischer (R-NE) and Angus King (I-ME) for their bipartisan leadership on this bill. As BPC has found, ‘In an ever-changing economy and tight labor market, paid family and medical leave can importantly encourage workers to stay in the labor force, support household finances, and help businesses compete for workers.’ This bill is critical to helping businesses provide paid leave benefits to more hardworking American families. We urge Congress to take up this proposal, originally enacted as part of the 2017 Tax Cuts and Jobs Act,” said Bipartisan Policy Center President Michele Stockwell. 

    “We the People send Americans into the halls of government with the opportunity to do the Will of the People, to do good. As such, it is perpetually our hope that our elected officials will execute such Will and enact laws that will serve the People, especially in cases where it is feasible in order to ease the burdens that life sometimes thrusts upon us where loved ones, families and businesses are most affected. The PFML Tax Credit Bill provides a judicious antidote for a malaise that has existed for far too long for so many Americans and businesses. More specifically, the PFML Bill effectively eliminates the decision of having to choose between family and a paycheck. In short, it gives individuals, families and employers the relief and peace of mind that they desperately need. On behalf of the American Caregiver Association, I encourage all those who are willing, to support U.S. Senators Deb Fischer and Senator Angus King and their continuing efforts to make the PFML Tax Credit Bill permanent,” said American Caregiver Association President Vincent S. Pettis. 

    “At SHRM, we are committed to advancing smart, practical policies that strengthen workplaces, empower HR professionals, and maximize human potential. As employers innovate to provide leave options that support well-being and family care, public policy must keep pace—offering incentives that encourage organizations to expand access to leave while maintaining the flexibility needed to design and sustain these programs. A balanced approach ensures that more workers can benefit from this critical support. At SHRM, we prioritize policy over politics and view this effort as a strong example of bipartisan collaboration and constructive policymaking in Congress,” said Society for Human Resource Management Chief of Staff and Head of Government Affairs Emily M. Dickens, J.D.

    “On behalf of our nation’s 2.95 million Asian American Pacific Islander (AAPI) business owners and entrepreneurs, National ACE applauds Senators Fischer and King for their leadership in reintroducing the Paid Family and Medical Leave Tax Credit Extension and Enhancement Act. Access to paid family and medical leave is vital for small business owners and their employees, particularly within the AAPI community, where caregiving responsibilities often extend across generations. This bipartisan effort provides much-needed support for entrepreneurs striving to balance business success with the well-being of their workforce. We are proud to support this legislation and look forward to working together to ensure small businesses have the resources they need to thrive,” said National Asian Pacific Islander American Chamber of Commerce and Entrepreneurship President and CEO Chiling Tong.

    “The Paid Family and Medical Leave Tax Credit Extension and Enhancement Act is essential to help ensure that more small business owners can offer paid family medical leave to their employees. Policies that include support for business owners and working families through programs like paid family leave help address the economic needs of our small businesses and workforce while at the same time making sure small business owners can compete against their larger counterparts. We thank Senators Fischer and King for their bipartisan leadership in introducing this important legislation and applaud the efforts to both expand access to this credit and ensure that the tax credit is permanent,” said National Association of Women Business Owners Board Chair Dr. Janis Shinkawa.

    “We are pleased to see the reintroduction of this legislation by Senators Fischer and King and thank them for their leadership on this critical issue. This legislation will encourage employers around the country to offer paid leave to their employees, increasing the number of Americans with paid leave coverage. Paid leave strengthens families and the economy by enabling workers to keep their jobs when they need to care for themselves or a loved one, while helping businesses retain valued employees,” said Sun Life U.S. President Dan Fishbein, M.D. 

    Full List of National Endorsements:

    AARP, Alzheimer’s Impact Movement (AIM), American Council of Life Insurers, American Institute of Certified Public Accountants (AICPA), National Restaurant Association, National Federation of Independent Businesses (NFIB), Bipartisan Policy Center (BPC), American Caregiver Association, Society for Human Resource Management (SHRM), National Asian Pacific Islander American Chamber of Commerce and Entrepreneurship, National Association of Women Business Owners, and Sun Life U.S.

    Background: 

    The Tax Cuts and Jobs Act (TCJA) created a two-year general business tax credit for employers that voluntarily offer up to 12 weeks of PFML to employees. Congress has extended the credit through 2025. The credit also includes an income cap for eligible employees to ensure that it remains targeted to those who need it the most. 

    Under current law, an employer must meet the following criteria to claim the credit: offer all qualifying employees at least two weeks of PFML, have a written PFML policy in effect, and pay at least 50 percent of an employee’s normal wages while the employee is on PFML. According to the Bureau of Labor Statistics (BLS), only 19 percent of those working for employers with less than 50 employees have access to PFML.

    Senators Fischer and King’s legislation builds on the existing credit by making the following changes:

    Making the Credit Permanent:

    • Provides certainty to businesses taking the leap to offer paid family and medical leave.

    Updating the Treatment of Paid Leave Required by State or Local Mandates:

    • Allows eligible employers to receive the credit for leave provided in states without PFML mandates or for leave offered in excess of any state or local mandate. 
      • Currently, employers providing PFML under state or local government mandates are ineligible for the credit, meaning that some employers with operations in both non-mandate and mandate states are ineligible for the credit.

    Supporting Coverage of PFL Insurance Premiums:

    • Allows employers to claim the credit for premiums paid for PFML insurance products that cover qualifying employees. The structure mirrors the current credit, enabling employers to receive up to a 25 percent credit towards yearly premiums, depending on the percentage of wages the insurance plan replaces.

    Reducing the Minimum Employment Period Requirement:

    • Provides employers the option to offer PFML to employees at six months and better target the credit towards younger workers.

    Requiring Greater Outreach and Awareness:

    • Requires the Small Business Administration and Internal Revenue Service to conduct targeted outreach, education, and technical assistance to assist in increasing awareness of the credit.

    Click here to read a summary of the bill.
     

    Click here to read the text of the bill.

    MIL OSI USA News –

  • MIL-OSI USA: Ricketts Votes to Confirm Scott Turner as U.S. Secretary of Housing and Urban Development

    US Senate News:

    Source: United States Senator Pete Ricketts (Nebraska)

    February 5, 2025

    February 5, 2025

    WASHINGTON, D.C. – Today, U.S. Senator Pete Ricketts (R-NE), a member of the Senate Committee on Banking, Housing, and Urban Affairs, issued the following statement after voting to confirm Scott Turner as the U.S. Secretary of Housing and Urban Development (HUD). 

    “Scott Turner led the White House initiative on Opportunity Zones which expanded economic opportunity for people across the country. He understands how targeted reforms can make housing more affordable and available for Americans. He’s committed to cutting red tape and delivering the solutions we need to address homelessness and restore the American dream.”

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    MIL OSI USA News –

  • MIL-OSI: Radix, Gold Sponsor at ARC Industry Leadership Forum 2025, Revolutionizes Asset Performance & Operations

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Feb. 05, 2025 (GLOBE NEWSWIRE) — Radix, a global technology solutions company at the forefront of industrial digital transformation is proud to showcase a groundbreaking AI-powered solution designed to revolutionize operations in asset-intensive industries.

    As a Gold Sponsor at the ARC Leadership Forum 2025, taking place in Orlando, Florida, from February 10-13, 2025, Radix takes center stage for adding tangible, adoptable and scalable AI capabilities that deliver best-in-class asset performance and sustainability.

    What makes Radix AI solutions unique is the tailored effectiveness of their custom-built applications paired with the in-house, industry expertise and personalized customer focus and attention, resulting in immediate, beneficial impacts to both production and profits for any industrial company. At ARC, these capabilities will reflect the Radix theme of “On the Ground: Accelerate. Optimize. Scale.”

    Alex Clausbruch, CEO of North America at Radix, expressed his enthusiasm for the company’s continued participation with a large executive team attending alongside partners, such as Cognite and clients, like Devon Energy. “We pride ourselves on being “on the ground,” working side by side with our customers and partners. We are happy to share the innovative approaches to Asset performance management, energy transition, digitalization and sustainability to empower our customers to achieve transformational business performance and excellence,” Clausbruch commented

    Heavy hitters from Radix’s executive team and industry experts, along with its long-standing partners and customers, will be showcasing solutions during the ARC event and plan to focus on industries like Oil and Gas, Chemical, Manufacturing, and Power in both workshops and in scheduled sessions.

    “We are quickly growing and expanding our footprint in North America, and ARC is a fantastic platform to showcase what are doing to create a sustainable impact with our clients,” said, Natalia Klafke, Executive Vice President of Energy and Sustainability at Radix. “From energy management to more ways on how digital next-gen solutions are empowering customers to reach decarbonization targets, Radix is proud to showcase these and other capabilities at ARC 2025.”

    Radix’s delegation will participate in various sessions, including an interactive lunch workshop on asset-intensive solutions, a risk-reduction via smart infrastructure sustainability session, and an AI Industrial Co-pilot session focusing on cutting edge technology and successful transformation initiatives.

    For more information visit RADIX | ARC Industry Leadership Forum 2025.

    About Radix

    Founded in 2010, Radix is a privately held global technology solutions company providing consulting, engineering, operations technology, and data and software technology solutions.

    Radix combines key capabilities and practices to empower customers to thrive along their digital transformation journey. Radix provides technology-based, data-driven solutions to industrial and non-industrial companies worldwide. Radix has experience leading projects in more than 30 countries and has more than 1,700+ employees around the globe, with North American headquarters in Houston, Texas, main headquarters in Rio de Janeiro, additional offices in Sao Paulo and Belo Horizonte, and a presence in Singapore and Amsterdam. To learn more, visit www.radixeng.com.

    For more information:
    Citalouise Geiggar, Ph.D.
    citalouise.geiggar@radixeng.com   
    Radix

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bb0b2847-918b-4b84-bce7-0f69e507e71f

    The MIL Network –

  • MIL-OSI USA: SCHUMER REVEALS: AFTER TRUMP’S FUNDING FREEZE FIASCO, HEAD START PROGRAMS ACROSS UPSTATE NY & U.S. STILL MISSING MILLIONS IN VITAL FUNDING TO KEEP CHILDCARE RUNNING — EVEN LEADING TO CLOSURES,…

    US Senate News:

    Source: United States Senator for New York Charles E Schumer

    Last Week Amid Trump’s Illegal Funding Freeze The Head Start Online Payment System Shut Down Across The Country, Despite The Admin Saying It Was Exempt From The Freeze And Has Provided No Explanation Why This Occurred

    Now A Week Later, Head Start Providers In NY And Across America Have Been Missing Payments They Rely On From Feds, Forcing Some Upstate Childcare Providers To Even Layoff Staff And Temporarily Shut Down Services Impacting Hundreds Of Families; Schumer Says This Cannot Continue And Is Demanding Immediate Action And Oversight

    Schumer: We Can’t Let NY’s Head Start Providers Be Left In Limbo, We Need This System Fixed & Answers NOW

    After Head Start providers in New York and across America were locked out of federal funding amid Trump’s federal funding freeze, U.S. Senator Chuck Schumer today revealed that a week later Head Start providers are now missing payments, facing delays and enduring severe technical issues with no end or clarity in sight. Schumer said after the payment management shutdown, despite the White House saying Head Start programs should be exempt, there have been continued reports of childcare programs in NY and across the country missing payments from the feds creating a growing problem, and even leading to some Head Start programs in NY temporarily closing or laying off staff, impacting hundreds of families in need of childcare.

    Schumer is now demanding HHS immediately address this problem, fix the payment system, and provide answers to give Head Start programs the assurances and funding they need to continue their essential childcare in rural and underserved communities. 

    “Trump’s illegal funding freeze created chaos for childcare programs across the country, and we still have no answer on why the payment system shut down. Now a week later Head Start programs still are missing federal payments, forcing some to shutter or even lay off staff, impacting hundreds of families here in Upstate NY. Enough is enough. Head Start providers cannot pay their teachers, staff or provide childcare without the assurances of payment,” said Senator Schumer. “I’m calling on HHS to take immediate action to ensure Head Start providers receive the funds and clarity they deserve. Right now Head Start providers and parents are worried sick this funding will continue to be delayed and they can be left high and dry when it comes to childcare. We can’t leave our children and families in limbo due to a chaotic and incompetent policy decision by this new administration. We need answers and this problem fixed now. Our parents, teachers, and children who rely on Head Start deserve nothing less.”

    Schumer explained after the Head Start programs across the country – including in Michigan, Connecticut, and Wisconsin – are still unable to access funding leading to major issues, and New York is now seeing these impacts as well. Head Start programs across Upstate NY and NYC have reported trouble getting paid, putting their cash flow at further risk and jeopardizing their ability to make payroll consistently for staff. For example, the Cattaraugus & Wyoming Counties Project Head Start, which serves 200+ children and employs 80+ staff across both counties, has said they are still unable to access funds. Without federal funding, the program has been unable to reopen and was forced to temporarily lay off all staff until this problem can be addressed.

    “As of Tuesday, January 28, 2025, all Head Start employees were sent home and program was closed due to the Executive Order to pause all federal grants and loans. Though this EO was rescinded, the pause has caused a back log of draw downs through the federal payment system. As of Tuesday, February 4, 2025, we still do not have answers. It seems the Department of HHS and the federal payment system are unable to agree where the problem is originating. We have almost 200 families without services and 84 employees without a job. To say it’s frustrating is an understatement,” said Cattaraugus & Wyoming Counties Project Head Start Board of Directors Chairperson, Andrea Aldinger. “I thank Senator Schumer for recognizing the importance of Head Start programs in local communities and for taking action to support affected families, children, and employees.” 

    “The New York State Head Start Association (NYSHSA) Board of Directors is concerned that the recent pause in funding had significant consequences for the thousands of children and families attending Head Start preschools and Early Head Start in NY,” said NYSHSA President Carolyn Wiggins. “We have heard from Head Start programs from across the state, from Western New York, to the Southern Tier and New York City, have experienced funding delays that rendered them unable to make payroll and, in some cases, temporarily close. We thank Senator Schumer for fighting to get answers and address this problem so we can continue our essential work to help children and families across NY.”

    Schumer is now leading Senate Democrats in demanding immediate action from the Trump administration and said HHS must fix this problem now and promptly disburse delayed funds to Head Start programs. The senators said programs and families deserve an explanation for why the funding freeze has continued and what the feds plan to do to ensure it never happens again. The lawmakers said families across America depend on this federal funding for childcare and their peace of mind.

    Schumer said Head Start programs cannot afford to continue normal operations without the assurances of payment processing and notices of grant renewals and that the feds must deliver the funding needed to resume operations and Head Start programs in New York and across the country need immediate answers about why this happening.

    “Despite reports of an end to a federal funding freeze, settlement house Head Start providers have still reported challenges and delays with payment since last week. Disrupting payments on contracted programs is devastating for child care providers who want to carry out their mission of caring for children and helping working parents get through their day to day. An interruption in cash flow, even for a few weeks, can have devastating consequences and puts providers in serious financial jeopardy to continue their operations. The Office of Head Start and the Department of Health and Human Services must prioritize the immediate payment of these vital child care services. Jeopardizing child care is no way to help working families,” said Susan Stamler, Executive Director of United Neighborhood Houses.

    A copy of Schumer’s letter he is leading with Senator Kaine and 27 of their colleagues in the Senate to Acting U.S. Department of Health and Human Services Secretary Dorothy Fink and Acting Director of the Office of Head Start Captain Tala Hooban can be found below:

    Dear Acting Secretary Dr. Fink and Acting Director Captain Hooban:

    We are writing today to raise ongoing, urgent concerns experienced by Head Start programs in our states and across the country. These concerns include (1) a lack of clarity on the status of renewals and notice of awards in the February 1st grant cycle, (2) delays in processing reimbursements through the Payment Management System (PMS), and (3) a lack of clear communication with grantees throughout this confusing time.

    We request your immediate action and assurance on the following:

    1. All requests for disbursements of funds submitted through PMS to be promptly processed to allow all Head Start programs to draw down federal funds;
    2. Programs on the February 1st grant cycle will be notified of their renewal or notice of award before the deadline to ensure no lapse in funding or program operations; and
    3. Transparent and consistent communication with Head Start programs to address the ongoing challenges.

    Since its inception in 1965, Head Start has provided critical early childhood education and comprehensive services to nearly 40 million low-income young children and their families in communities across the nation. Today, Head Start programs are supported by 250,000 staff to serve nearly 800,000 children across the nation. Head Start’s comprehensive services ensure children receive age-appropriate health care, dental care, immunizations, and health insurance, and they provide referrals to other critical services for parents, such as job training, adult education, nutrition services, and housing support. For the last several years, Congress has worked in a bipartisan manner to recognize this longstanding federal program’s important work by providing increased appropriations.

    Since the morning of Tuesday, January 28th, the Head Start community has faced immense uncertainty and disruptions by the Office of Management and Budget’s (OMB) memo (M-2513), directing federal agencies to “temporarily pause all activities related to obligation or disbursement of all federal financial assistance.” While the Trump Administration later clarified that Head Start would not be the target of the funding freeze, many Head Start programs across the country were unable to access the PMS to draw down federal funds. PMS was reinstated, but programs across the country have not had funding disbursed in a timely manner.

    Head Start programs cannot pay their teachers and staff and continue normal operations without the assurances of payment processing and notices of grant renewals and awards. This will impact children, families, and communities across the country, particularly the rural communities where these programs represent a large share of the childcare options.

    Even if this issue extends beyond the Office of Head Start, we urge you to do everything in your power to ensure these programs receive transparent and frequent communication on the progress of their funds being released. Head Start programs operate on razor-thin margins and cannot survive without timely intervention. Children, families, employees, and educators all depend on these critical federal funds.

    Once these issues are resolved, we request you provide responses to the following questions:

    1. What factors contributed to delayed disbursements to Head Start programs through the Payment Management System? What steps will be taken to ensure such delays will not occur in the future?
    2. How many Head Start programs were impacted by this delay and what were the immediate consequences on operations and services for children and families?
    3. What factors led to the lack of communication about grant renewals and awards for the February 1st cycle? What steps will be taken to ensure timely notices in the future?

    We thank you for your quick attention to this matter.

    MIL OSI USA News –

  • MIL-OSI Security: United States Attorney’s Office Underscores Enforcement of Executive Order on Immigration

    Source: Office of United States Attorneys

    SAN JUAN, Puerto Rico – The United States Attorney’s Office for the District of Puerto Rico, through United States Attorney W. Stephen Muldrow, issues the following statement to underscore support for the January 20, 2025, Executive Order, entitled “Protecting the American People Against Invasion.”

    Department of Justice agencies in Puerto Rico, including the U.S. Attorney’s Office, the Federal Bureau of Investigation, the U.S. Marshals Service, the Drug Enforcement Administration, the Bureau of Alcohol, Tobacco, Firearms & Explosives, and the Bureau of Prisons, underscore their support and partnership with the Department of Homeland Security (DHS) and all its components in Puerto Rico to enforce our nation’s immigration laws.

    The Justice Department and DHS will also continue to collaborate and work closely with our counterparts within the Government of Puerto Rico, to include the Puerto Rico Department of Justice, the Puerto Rico Department of Public Safety, the Puerto Rico Police Bureau, and other governmental agencies, as well as municipal police departments to protect our communities from harm.

    The U.S. Attorney’s Office’s implementation of the Executive Order will focus on the apprehension and prosecution of criminal aliens, as well as supporting the prosecution and/or expedited removal from the United States of aliens without legal status. The apprehension and prosecution or removal of aliens includes special interest aliens deemed by the DHS to be from a country that poses a national security or counterintelligence threat.

    “Those aliens who are involved in criminal activity, who are fugitives from justice, who have prior criminal convictions and/or come from nations that pose a threat to our national security, remain a priority for the Department of Justice,” said United States Attorney Muldrow. “We are also fully committed to supporting the efforts of the Department of Homeland Security, and all its components, to make Puerto Rico and the United States safer.”

    “The FBI remains committed to working alongside our law enforcement partners to uphold the rule of law and ensure public safety,” said Joseph González, Special Agent in Charge of the FBI’s San Juan Field Office. “Through this initiative, continued collaboration and intelligence-driven operations, we are supporting efforts to protect our communities, while adhering to our mission of upholding the Constitution.”

    “Homeland Security Investigations (HSI) is dedicated to identifying and prosecuting individuals who are illegally present in the United States, ensuring they are swiftly removed to their home countries,” said Rebecca González-Ramos, Special Agent in Charge of HSI San Juan. “The executive order aims to protect the United States from individuals who pose a threat to public safety by committing crimes.”

    “The Drug Enforcement Administration remains resolute in its mission to protect the communities of Puerto Rico and the U.S. Virgin Islands from the devastating impact of drug trafficking and transnational criminal organizations. These criminal networks not only threaten public safety through the distribution of dangerous narcotics but also exploit immigration vulnerabilities to further their illicit enterprises. Through intelligence-driven investigations, collaborative enforcement operations, and strategic partnerships with our federal, state, and local counterparts, the DEA will aggressively target those who pose a threat to our national security and the well-being of our citizens. Our enforcement efforts will focus on identifying, disrupting, and prosecuting individuals and organizations engaged in drug trafficking, money laundering, and violent crime. Additionally, we remain committed to supporting the efforts of the Department of Homeland Security and the Department of Justice in the apprehension and prosecution of criminal aliens involved in drug-related offenses. The DEA Caribbean Division will continue to conduct high-impact operations aimed at preventing narcotics and criminal elements from infiltrating our shores. These enforcement efforts are crucial in ensuring the safety and security of the people of Puerto Rico and the continental United States. The message is clear: those who attempt to use our territory as a gateway for illicit activities will be met with the full force of federal law enforcement,” stated Michael A. Miranda, Special Agent in Charge of DEA Caribbean Division.

    “We stand in unison with our Federal and Puerto Rico partners in this all-hands-on deck to stem the tide of illegal immigration,” said Christopher A. Robinson, Special Agent in Charge of the Bureau of Alcohol, Tobacco, Firearms and Explosives, Miami Field Division.

    The United States Marshals Service, whose mission includes apprehending federal and state fugitives, will lead an initiative – Operation Homeland – to focus resources and coordinate enforcement operations with DOJ and DHS components on the apprehension of alien fugitives charged with federal and local crimes.

    “Historically, the United States Marshals have played a crucial role in serving our nation by apprehending and removing dangerous fugitives from our communities. In this instance, we have teamed up with our federal law enforcement partners to focus on apprehending non-U.S. citizens who have active criminal warrants. We are confident that these collaborative efforts will lead to safer communities. We encourage all citizens to continue cooperating with our investigations to help locate these fugitives and bring them to justice,” said Wilmer Ocasio-Ibarra, U.S. Marshal District of Puerto Rico.

    As recently announced by Immigration and Customs Enforcement (ICE), on January 30, 2025, the below-listed individuals entered into Puerto Rican waters without inspection and were detained by the CBP. Earlier that day, Coast Guard had previously boarded the sailing vessel Mistress, but the vessel was allowed to continue its voyage to St. Martin.  Instead of going to St. Martin, the S/V Mistress entered U.S. waters without inspection and anchored off La Parguera, where they were arrested and processed for expedited removal by DHS officials, including the United States Border Patrol and Immigration and Customs Enforcement (ICE). Specifically, the following eight individuals were encountered on a private boat off the southwest coast of Puerto Rico:

    Name                                    Country of Citizenship

    Erlanbek Narkoziev              Kyrgyzstan

    Jafar Valamatov                    Russia

    Kanal Assylbekov                 Kazakhstan

    Nikita Torshin                       Kazakhstan

    Sanjarjon Sidikov                  Uzbekistan

    Shackhat Uurustamov           Kyrgyzstan

    Odiljon Azimov                     Kyrgyzstan

    Shukrat Akhemodov              Russia

    “Every day CBP Officers are responsible with determining the admissibility of aliens arriving at our ports of entry.  Foreign travelers requesting entry undergo an inspection and determination of admissibility to the United States, and if they are not admissible, they are returned to their point of embarkation,” indicated Roberto Vaquero, Director of the San Juan Office of Field Operations. “Our officers will be vigilant in determining admissibility and will also inspect authorized presence from passengers in domestic flights as they try to reach the Continental US.”

    “The Ramey Sector of the US Border Patrol remains steadfast in protecting our Caribbean borders and deter irregular migration attempts.  U.S. immigration law makes it a crime to enter or attempt to enter without requesting admission at a port of entry designated for that purpose by immigration officials,” stated Reggie Johnson, Acting Chief Patrol Agent. “Migrants should know that they will face full legal consequences of unlawful entry.”

    “Air and Marine Operations agents and assets will support the whole of government effort to enforce immigration laws and protect our borders from emerging threats,” said Christopher Hunter, Director of the Caribbean Air and Marine Branch. “AMO safeguards our Nation by anticipating and confronting security threats through our aviation and maritime law enforcement expertise, innovative capabilities, and partnerships at the border and beyond.”

    ###

    MIL Security OSI –

  • MIL-OSI: Bpce: Groupe BPCE Results Q4-24 & 2024

    Source: GlobeNewswire (MIL-OSI)

    Paris, February 5, 2025

    STRONG PERFORMANCES IN 2024

    • Excellent performance in Q4-24 •
    • Net income (Group share) of €3.5bn in 2024, strong growth of +26% •
    • VISION 2030: dynamic implementation of the strategic project •

    Q4-24: net banking income at €6bn, up +11% YoY; very good performance achieved by retail banking and the global businesses; net income of €913m, +140% YoY
    2024: net banking income of €23.3bn, 5% growth YoY driven by all the business lines; gross operating income up by a strong 18% notably thanks to good cost control; reported net income2of €3.5bn, up by 26% YoY

    Very high levels of solvency and liquidity with a CET1 ratio of 15.6%3 and a LCR of 142%4 at end-2024

    RETAIL BANKING & INSURANCE    Sharp 14% growth in revenues in Q4-24 and 4% in 2024 driven in particular by the confirmed rebound in net interest margins and commissions. The Banque Populaire and Caisse d’Epargne retail banking networks enjoyed sustained growth in their customer bases with the addition of 846,000 new clients6in 2024

    • Local & regional financing: €84bn of funding for our clients of individual, professional, corporate, and institutional clients; 1% year-on-year growth in loan outstandings, rising to a total of €724bn at end-December 2024
    • Deposits & savings7up by €5bn year-on-year, reaching a total of €681bn at end-December 2024
    • Insurance: gross inflows8 of €14.9bn in life insurance in 2024. Premiums up 15% in 2024 YoY. The equipment rate9for P&C and Personal Protection insurance stood at ~35% at end-December 2024
    • Financial Solutions & Expertise: net banking income remained stable in Q4-24 and rose by 2% in full-year 2024 vs. a high basis of comparison in 2023. Good performance reported by the Leasing and Consumer Credit activities
    • Digital & Payments: +5% growth in the number of card transactions at end-December 2024 YoY. Oney net banking income up 8% in full-year 2024

    GLOBAL FINANCIAL SERVICES Strong revenue growth, +8% in Q4-24 and full-year 2024; very dynamic business development in Corporate & Investment Banking, net banking income up 5% in Q4-24 year-on-year; very good performance achieved by Asset Management with net banking income up 11% in Q4-24 year-on-year

    • Corporate & Investment Banking: net banking income of €1.1bn in Q4-24; +19% growth in revenues in Q4-24 YoY for Global Markets, driven by the Fixed-income and Equity segments; net banking income up 2% for Global Finance, driven in particular by Trade Finance activities, and up by 6% for Investment Banking activities in Q4-24
    • Asset & Wealth Management: Natixis IM’s assets under management up 13% YtD, reaching an all-time high of €1,317bn at end-December 2024; very high net fund inflows of €40bn in full-year 2024, particularly from Fixed-Income expertise; net banking income of €968m in Q4-24, reflecting strong growth of 11% YoY.

    Expenses remained stable year-on-year in 2024 and good improvement in the cost/income by 3.5pp

    Prudent provisioning policy: cost of risk of €2.1bn in 2024, i.e. 24bps, standing below the announced guidance level; €596 million in Q4-24, down 20% year-on-year

    Financial strength: CET1 ratio of 15.6%3at end-December 2024; liquidity reserves of €302bn

    VISION 2030 strategic project: fast-paced and dynamic implementation  

    • April 2024: announcement of the project to acquire SGEF, making Groupe BPCE the European leader in equipment leasing; completion of the transaction scheduled for Q1-25.
    • June 2024: plan to create France’s No. 1 payment processor in partnership with BNP Paribas with a view to becoming one of the top 3 players in Europe.
    • June 2024: commercial partnerships with two leaders in their respective markets: Leroy Merlin and Verisure
    • January 2025: announcement of plan to create Europe’s leading asset manager in a joint venture with Generali.
    • Plans to create a shared technology platform for retail banking activities

    1 See the notes on methodology annexed to this press release 2Group share 3 Ratio estimated at end-December 2024 integrating pro forma the coming impact of SGEF and Nagelmackers acquisitions 4Average end-of month LCRs in Q4-24 5 Estimated at end-December 2024 6 196,100 new active clients over the year 7 On-balance sheet savings & deposits within the scope of the Retail Banking & Insurance business unit 8 Excluding reinsurance treaty with CNP Assurance 9 Scope of the individual clients in the BP and CE retail banking networks

    Nicolas Namias, Chairman of the Management Board of BPCE, said: “2024 marked the return of strong performance across all our business lines. Groupe BPCE saw its earnings grow by 26% over the year as a whole and by a total of 140% in the fourth quarter of 2024.

    Banques Populaires and Caisses d’Epargne benefited from the confirmed rebound in their net interest margin along with an extremely buoyant level of commercial activity, illustrated by the arrival of 846,000 new clients in 2024. All the business lines serving the retail banking networks – Insurance, Payments, Financial Solutions & Expertise – generated growth both in full-year 2024 and in the 4thquarter of the year. It also proved to be a remarkable quarter and full-year period for the global business lines managed by Natixis CIB and Natixis IM with, in particular, 19% revenue growth in our capital markets activities in the fourth quarter, and a record-breaking 40 billion euros in net inflows for our asset management activities in the course of the year.

    These results testify to the dynamic implementation of our VISION 2030 strategic project. In the space of a year, we announced the planned acquisition of SGEF, making the Group the front-ranking European equipment leasing specialist, an initiative due to be completed early this year; the creation, with BNP Paribas, of the French leader in payment processing, with a view to becoming one of the top 3 players in Europe; plans to create a champion in asset management with Generali that would be No.1 in Europe in terms of revenues and one of the top 10 asset management specialists worldwide. Today, we announce our ambition to create a common technological platform for the Banques Populaires and Caisses d’Epargne by setting up a joint information system. Designed to further enhance the Group’s performance, this project sets out to optimize the service offered to our 35 million clients and to improve the day-to-day lives of our employees and, in the process, support the development of retail banking in France. These projects give concrete expression to our determination to pursue well-balanced development across our three priority growth areas: France, Europe, and the rest of the world.

    These extremely exciting prospects for the months ahead will be driven by our staff of employees, who this year demonstrated their tremendous mobilization and enthusiasm during the Olympic & Paralympic Games Paris 2024. We gave expression to our promise to share the Games with as many people as possible in every territorial region of France. This event enabled us to strengthen our ties with our clients both in regional France and around the world, and we will continue to foster these relationships by contributing to the sustainable development of the economies in which we do business, in line with our cooperative values.”

    The quarterly financial statements of Groupe BPCE for the period ended December 31, 2024, approved by the Management Board on February 3, 2025, were verified and reviewed by the Supervisory Board, at a meeting chaired by Eric Fougère on February 5, 2025.

    In this document, 2023 figures have been restated on a pro-forma basis (see annex for the reconciliation of reported data to pro-forma data).

    Groupe BPCE

    €m1 Q4-24 Q4-23 % Change 2024 2023 % Change
    Net banking income 6,046 5,462 11% 23,317 22,198 5%
    Operating expenses (4,184) (4,129) 1% (16,384) (16,328) 0%
    Gross operating income 1,862 1,332 40% 6,933 5,870 18%
    Cost of risk (596) (744) (20)% (2,061) (1,731) 19%
    Income before tax 1,262 537 135% 4,956 4,182 19%
    Income tax (326) (159) 106% (1,357) (1,340) 1%
    Net income – Group share 913 381 140% 3,520 2,804 26%
    Exceptional items (64) (100) (35)% (155) (122) 28%
    Underlying2net income – Group share  977 481 103% 3,675 2,925 26%
    Underlying cost to income ratio3 67.8% 74.6% (6.8)pp 69.4% 72.9% (3.5)pp

    1 Reported figures as far as “Net income (Group share)” 2 “Underlying” means exclusive of exceptional items 3 The underlying cost/income ratio of Groupe BPCE is calculated on the basis of net banking income and operating expenses excluding exceptional items. The calculations are detailed in the annex on pages 18 and 24.  

    1.     Groupe BPCE

    Unless specified to the contrary, the financial data and related comments refer to the reported results of the Group and
    business lines; changes express differences between Q4-24 and Q4-23 and between full-year 2024 and full-year 2023.

    Groupe BPCE’s net banking income rose by 11% to reach 6,046 million euros in Q4-24 thanks to strong commercial activity in all business lines. At the end of December 2024, it stood at 23,317 million euros, up 5%.

    Revenues from the Retail Banking & Insurance business unit (RB&I) rose 14% in Q4-24 to 4,064 million euros and stood at 15,397 million euros in full-year 2024, representing growth of 4%. Banques Populaires and Caisses d’Epargne put up a strong commercial performance, attracting more than 846,000 new clients1 across all markets since the beginning of the year.

    Revenues in the Financial Solutions & Expertise business unit, stable in Q4-24 and up 2% in full-year 2024, were driven in particular by the leasing and consumer credit businesses. The Insurance business unit benefited from strong business momentum in life insurance with gross new inflows2 of 14.9 billion euros. Business was buoyant for the Digital & Payments business unit with renewed momentum for Oney.

    Revenues from the Global Financial Services (GFS) business unit were up 8% in Q4-24 and full-year 2024, reaching a total of 2,055 million euros and 7,947 million euros respectively. Corporate & Investment Banking revenues, buoyed up by strong commercial performance across all its business lines, came to 1,087 million euros in Q4-24, up 5%, and to 4,440 million euros in full-year 2024, up 7%. The net banking income generated by Asset & Wealth Management stood at 968 million euros in Q4-24, up 11%, and reached a total of 3,507 million euros in full-year 2024, up 10%. Assets under management, which rose to their highest level ever thanks to record-breaking fund inflows and positive market and currency effects, rose by 13% in the course of the year to reach 1,317 billion euros.

    The net interest margin stood at 7.6 billion euros, up 4% year-on-year, while commission income, which reached 11 billion euros in full-year 2024, was up 7% year-on-year.

    In full-year 2024, operating expenses remained stable at 16,384 million euros, rising 1% to 4,184 million euros in Q4-24, benefitting from positive jaws effects over the 2 periods.

    The underlying cost/income ratio3 improved by 6.8pp in Q4-24 to 67.8%, and by 3.5pp in full-year 2024 to 69.4%

    Gross operating income rose by 40% to 1,862 million euros in Q4-24, and by 18% to 6,933 million euros in full-year 2024.

    Groupe BPCE’s cost of risk, which came to -2,061 million euros in 2024, increased by a total of 19% vs. a low basis of comparison in 2023. In Q4-24, it stood at -596 million euros, down 20%.

    Performing loans are deemed to be rated ‘Stage 1’ or ‘Stage 2,’ while loans with proven risk are rated ‘Stage 3.’

    1    196,100 new active clients in full-year 2024 ² Excluding the reinsurance treaty with CNP Assurances3 The underlying cost/income ratio of Groupe BPCE is calculated on the basis of net banking income and operating expenses excluding exceptional items. The calculations are detailed in the annex on page 24

    For Groupe BPCE, the amount of provisions for performing loans rated ‘Stage 1’ or ‘Stage 2’ corresponds:

    • For the quarter, to a reversal of 31 million euros in Q4-24 vs. an allocation of 34 million euros in Q3-24 and vs. an allocation of 145 million euros in Q4-23,
    • For the 12-month period, a reversal of 177 million euros in 2024 vs. a reversal of 112 million euros in 2023.

    Provisions for loan outstandings with proven risk, rated ‘Stage 3,’ correspond:

    • For the quarter, to an allocation of 627 million euros in Q4-24 vs. an allocation of 488 million euros in Q3-24 and vs. an allocation of 598 million euros in Q4-23,
    • For the 12-month period, an allocation of 2,238 million euros in 2024 vs. an allocation of 1,843 million euros in 2023.

    In Q4-24, the cost of risk for Groupe BPCE stood at 28bps in terms of gross customer outstandings, down 7bps. This figure includes a reversal of 1bp on performing loans (vs. an allocation of 7bps in Q4-23) and an allocation on loan outstandings with proven risk of 29bps vs. an allocation of 28bps in Q4-23.
    In Q4-24, the cost of risk remained stable for the Retail Banking & Insurance business unit at 30bps, including a 1bp provision for performing loans (vs. a 5bps allocation to provisions in Q4-23) and a 30bps allocation on loan outstandings with proven risk, as in Q4-23.
    The cost of risk for the Corporate & Investment Banking business unit came to 55bps (vs. 37bps in Q4-23), including a 13bps reversal on performing loans (vs. a 16bps provision in Q4-23) and a 67bps provision on loans with proven risk (vs. a 21bps provision in Q4-23).

    In 2024, Groupe BPCE’s cost of risk stood at 24bps of gross customer loan outstandings. This figure includes a 2bps reversal of provisions on performing loans (vs. a 1bp reversal in 2023) and a 26bps provision on loans with proven risk (vs. a 22bps provision in 2023).
    The cost of risk was 24bps for the Retail Banking & Insurance business unit (21bps in 2023), including a 2bps reversal on performing loans (as in 2023) and a 26bps provision on loans with proven risk (vs. a 23bps provision in 2023).
    The cost of risk for the Corporate & Investment Banking business unit came to 40bps (24bps in 2023), including a 6bps reversal on performing loans (vs. a 4bps reversal in 2023) and a 46bps provision on loans with proven risk (vs. a 28bps provision in 2023).

    The ratio of non-performing loans to gross loan outstandings stood at 2.5% at December 31, 2024, up 0.1pp compared with end-December 2023.

    Reported net income (Group share) came to 913 million euros in Q4-24, up 140%. In full-year 2024, it stood at 3,520 million euros, up 26%.

    The impact of exceptional items on net income (Group share) was -64 million euros in Q4-24 vs. -100 million euros in Q4-23 and -155 million euros in full-year 2024 vs. -122 million euros in full-year 2023.

    Underlying net income (Group share)1 rose by 103% to stand at 977 million euros in Q4-24, and grew by 26% to 3,675 million euros in full-year 2024.

    1 “Underlying” means exclusive of exceptional items

    2.   A Group mobilized to decarbonize the economy and committed to making impact accessible to all

    Strong commitments in 2024

    • Climate commitments:

    The Group has published new decarbonization ambitions for the 111 most highly emissive industrial sectors: Aluminum, Aviation, Commercial real estate, Residential real estate, Agriculture, Automotive, Steel and Cement, and has strengthened its ambitions in the Power Generation and Oil & Gas sectors.

    • Environmental commitments:

    Groupe BPCE has strengthened its commitment by joining act4nature international.

    • Social commitments by providing financing for players in the social & solidarity-based economy, in social housing and the Public Sector.

    Innovative and concrete actions for our clients

    • The Banques Populaires and Caisses d’Epargne retail banking networks have launched innovations to facilitate home ownership and offer all individual customers energy-efficient renovation solutions to preserve the value of their real-estate assets: for example, by the end of November 2024, over 640 million euros in financing had been granted for energy-efficient home renovation, and the Advice and Sustainable Solutions digital module had received over 5 million unique visitors.
    • The Group serves the SME and ISE clients of the Banques Populaires and Caisses d’Epargne, as well as local communities by providing locally-based advice and by financing the transition of their business models. It has also strengthened its partnership with the European Investment Bank (EIB) for the innovation and energy transition with over one billion euros in transition and decarbonization financing.
    • Green revenues in the CIB rose by +14% in 2024 YoY, driven by sustainable finance and renewable energy & new energy activities including tailored-made solutions and dedicated expertise provided by the Green Hub.

    Groupe BPCE, a pioneer in sustainable finance, launched 5 green and social bond issues in the course of 2024 for an aggregate value of more than 3.6 billion euros, including the 1st Social Bond with a profit-sharing coupon for the benefit of the Institut Robert-Debré du Cerveau de l’Enfant (Children’s Brain Development Institute), supported by APHP (Paris Public Hospitals).

    1 Given the insignificant amount of Natixis CIB’s financing dedicated to freight and passenger ships, Groupe BPCE has not published its action plan for this industrial sector

    3.   Capital, loss-absorbing capacity, liquidity, and funding

    3.1        CET11ratio

    Groupe BPCE’s CET1 ratio at end-December 2024 stood at an estimated 16.2%, unchanged from the previous quarter. It includes the following impacts:

    • Retained earnings: +21bps,
    • Net issuance of cooperative shares: +3bps,
    • Change in risk-weighted assets: – 33bps,
    • Other changes, including variations in the prudential backstop provision, items included under Other Comprehensive Income, and other adjustments: +4bps.

    The Group’s CET1 ratio – presented on a pro-forma basis to reflect the inclusion of the future impacts of the SGEF and Nagelmackers acquisitions (-54bps) – stands at 15.6%,

    At end-December 2024, Groupe BPCE held an equity buffer estimated at 18.6 billion euros above the threshold for triggering the maximum distributable amount (MDA) for equity capital, taking account of the prudential requirements laid down by the ECB applicable on January 2, 2025.

    3.2         TLAC ratio1

    The Total Loss-Absorbing Capacity (TLAC) stood at an estimated 122.1 billion euros at the end of December 2024. The TLAC ratio, expressed as a percentage of risk-weighted assets, stood at an estimated 26.7%2 at the end of December 2024 (without taking account of preferred senior debt for the calculation of this ratio), well above the standard requirements of the Financial Stability Board that were equal to 22.4% at January 2, 2025.

    3.3        MREL ratio1

    Expressed as a percentage of risk-weighted assets at December 31, 2024, Groupe BPCE’s subordinated MREL ratio (without taking account of preferred senior debt for the calculation of this ratio) and the total MREL ratio stood at 26.7%2 and 34.6%, well above the minimum requirements laid down by the SRB at January 2, 2025 of 22.4%3 and 27.3%3 respectively.

    3.4        Leverage ratio1

    At December 31, 2024, the estimated leverage ratio stood at 5.1%, well above the requirement.

    3.5        Liquidity reserves at a high level

    The LCR (Liquidity Coverage Ratio) for Groupe BPCE is well above the regulatory requirement of 100%, at an average of 142% of month-end LCRs for the 4th quarter 2024.
    Liquidity reserves stood at 302 billion euros at December 2024, representing a coverage ratio of 177% of short-term financial debt (including short-term maturities of medium- to long-term financial debt).

    3.6        MLT funding plan: 32% of the 2025 objectives completed as at January 31, 2025

    The size of the MLT funding plan, excluding structured private placements and Asset Backed Securities (ABS), has been set at 23 billion euros for 2025. The breakdown per type of debt is as follows:

    • 10 billion euros in TLAC funding: 2.0 billion euros in Tier 2 funding and 8 billion euros in senior non-preferred debt,
    • 3 billion euros senior preferred debt,
    • 10 billion euros in covered bonds.

    The target for ABS is 8 billion euros.

    At January 31, 2025, Groupe BPCE had raised 7.3 billion euros, excluding structured private placements and ABS (32% of the 23 billion euro funding plan):

    • 5.6 billion euros in TLAC funding: 1.7 billion euros in Tier 2 funding (87% of requirements) and 3.9 billion euros in senior non-preferred debt (49% of requirements),
    • 1.7 billion euros in covered bonds (17% of requirements).

    At January 31, 2025, the amount of ABS raised came to a total of 0.7 billion euros, i.e. 8% of the target.

    Capital adequacy, Total loss-absorbing capacity – see the note on methodology
    1 Estimated at December 31, 2024 2 Groupe BPCE has chosen to waive the possibility provided by Article 72 Ter (3) of the Capital Requirements Regulation (CRR) to use senior preferred debt to ensure compliance with its TLAC/subordinated MREL requirements. 3 Following reception of MREL’s annual letter for 2024

    4.   Results of the business lines

    Unless specified to the contrary, the financial data and related comments refer to the reported results of the Group and
    business lines; changes express differences between Q4-24 and Q4-23 and between full-year 2024 and full-year 2023.

    4.1        Retail Banking & Insurance

    €m1 Q4-24 % Change 2024 % Change
    Net banking income 4,064 14% 15,397 4%
    Operating expenses (2,497) (0)% (9,902) 1%
    Gross operating income 1,567 45% 5,495 10%
    Cost of risk (556) (13)% (1,751) 16%
    Income before tax 998 142% 3,807 8%
    Exceptional items (45) (60)% (115) 3%
    Underlying2income before tax 1,044 98% 3,922 8%
    Underlying cost/income ratio3 60.4% (8.5)pp 63.6% (2.2)pp

    At end-December 2024, loan outstandings rose by 1% to 724 billion euros. Outstanding home loans remained stables at 400 billion euros, while equipment loans rose by 3% during the year to 199 billion euros.

    At end-December 2024, on-balance sheet customer deposits & savings totaled 681 billion euros, representing an increase of 5 billion euros year-on-year, with a 5% rise in term accounts and a 3% year-on-year increase in both regulated and unregulated passbook savings accounts.

    Net banking income for the Retail Banking & Insurance business unit rose by 14% in Q4-24 to 4,064 million euros, and by 4% in full-year 2024 to 15,397 million euros. In Q4-24, these changes reflect the good level of business activities: in the networks, revenues rose by 17% for the Banque Populaire retail banking network and by 14% for the Caisse d’Épargne network. Net banking income for both networks also recorded growth in full-year 2024, by 4% for the Banque Populaire network and by 3% for the Caisse d’Épargne network.

    The Financial Solutions & Expertise business lines continued to benefit from strong sales momentum, particularly in the leasing segment. Revenues remained stable in Q4-24 but saw 2% growth in full-year 2024. In Insurance, premiums4 rose by 15% in 2024, driven by both Non-Life Insurance and Life & Personal Protection Insurance. The Digital & Payments business unit reported a 14% increase in revenues in Q4-24 and 7% growth in full-year 2024, driven by card transactions and instant payment operations.

    Operating expenses remained tightly managed, stable in Q4-24 at 2,497 million euros, and up by just 1% in full-year 2024 to 9,902 million euros.

    The underlying cost/income ratio3 improved by 8.5pp in Q4-24 to 60.4%, and by 2.2pp in full-year 2024 to 63.6%.

    The business unit’s gross operating income benefited from a strong positive jaws effect, rising by 45% in Q4-24 to
    1,567 million euros and by 10% in full-year 2024 to 5,495 million euros.

    The cost of risk amounted to -556 million euros in Q4-24, down 13%, and stood at -1,751 million euros in 2024, up 16%.

    For the business unit as a whole, income before tax amounted to 998 million euros in Q4-24, up 142%, and stood at 3,807 million in full-year 2024, up 8%.

    Underlying income before tax2 amounted to 1,044 million euros in Q4-24, up 98%, and came to 3,922 million euros in full-year 2024, up 8%.

    1 Reported figures until “Income before tax” 2 “Underlying” means exclusive of exceptional items 3 The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses 4Excluding reinsurance treaty with CNP Assurance

    4.1.1         Banque Populaire network
    The Banque Populaire retail banking network is comprised of 14 cooperative banks (12 regional Banques Populaires along
    with CASDEN Banque Populaire and Crédit Coopératif) and their subsidiaries, Crédit Maritime Mutuel, and the Mutual
    Guarantee Companies.

    €m1 Q4-24 % Change 2024 % Change
    Net banking income 1,614 17% 6,098 4%
    Operating expenses (980) 1% (4,047) 2%
    Gross operating income 634 56% 2,051 8%
    Cost of risk (266) (6)% (814) 25%
    Income before tax 352 137% 1,285 (2)%
    Exceptional items (17) 77% (51) ns
    Underlying2income before tax 369 133% 1,336 2%
    Underlying cost/income ratio3 59.7% (10.2)pp 65.5% (1.9)pp

    Loan outstandings remained stable year-on-year, standing at 301 billion euros at the end of December 2024.
    On-balance sheet customer deposits & savings decreased by 2 billion euros year-on-year at the end of December 2024, with term accounts remaining stable during the 12-month period, while both regulated and unregulated passbook savings accounts saw 2% year-on-year growth.

    Net banking income came to 6,098 million euros in full-year 2024, up 4% year-on-year. This included 3.2 billion euros in net interest margin4,5 up 5% year-on-year, and 2.9 billion euros in commissions5 (up 3% year-on-year).
    In Q4-24, net banking income came to a total of 1,614 million euros, up 17% year-on-year.

    Operating expenses rose by a limited 1% in Q4-24 to 980 million euros, and increased by 2% in full-year 2024, to 4,047 million euros.
    The underlying cost/income ratio3 consequently saw a 10.2pp improvement in Q4-24, to 59.7%, and a 1.9pp improvement in full-year 2024, to 65.5%.

    Gross operating income benefited from positive jaws effects, rising by 56% to 634 million euros in Q4-24 and by 8% to 2,051 million euros in full-year 2024.

    The cost of risk stood at -266 million euros in Q4-24, down 6%, and -814 million euros in 2024, up 25%.

    Income before tax came to 352 million euros in Q4-24 (+137%) and 1,285 million euros in 2024 (-2%).

    Underlying income before tax2 amounted to 369 million euros in Q4-24 (+133%) and 1,336 million euros in full-year 2024
    (+2%).

    1 Reported figures until “Income before tax” 2 “Underlying” means exclusive of exceptional items 3 The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses 4 Excluding provisions for home-purchase savings schemes 5 Income on regulated savings has been restated to account for the net interest margin and included under commissions

    4.1.2        Caisse d’Epargne network
    The Caisse d’Epargne retail banking network comprises 15 individual Caisses d’Epargne along with their subsidiaries

    €m1 Q4-24 % Change 2024 % Change
    Net banking income 1,616 14% 6,054 3%
    Operating expenses (1,084) 0% (4,216) 1%
    Gross operating income 531 55% 1,838 10%
    Cost of risk (205) (6)% (640) 16%
    Income before tax 328 161% 1,200 7%
    Exceptional items (27) 171% (60) ns
    Underlying2income before tax 355 162% 1,260 13%
    Underlying cost/income ratio3 65.4% (9.8)pp 68.7% (2.7)pp

    Loan outstandings rose by 1% year-on-year to 376 billion euros at the end of December 2024.
    On-balance sheet customer deposits & savings increased by 5 billion euros year-on-year, with growth in term accounts (+12%) and an increase in regulated and unregulated passbook savings accounts (+3%).

    Net banking income rose by 3% to reach 6,054 million euros in full-year 2024, including:

    • 2.6 billion euros in net interest margin4,5, down 3% year-on-year,
    • 3.4 billion euros in commissions5 up 7% year-on-year.

    Net banking income came to a total of 1,616 million euros, up 14% year-on-year, in Q4-24 and stood at 6,054 million euros, up 3% year-on-year in full-year 2024.

    Operating expenses remained stable at 1,084 million euros in Q4-24, and rose by 1% in full-year 2024 to 4,216 million euros.

    The underlying cost/income ratio3 improved by 9.8pp to 65.4% in Q4-24 and by 2.7pp to 68.7% in full-year 2024.

    Gross operating income benefited from positive jaws effects in Q4-24 (+55%), rising to 531 million euros, and enjoyed 10% growth in full-year 2024, rising to 1,838 million euros.

    The cost of risk came to -205 million euros in Q4-24, down 6%, and to -640 million euros in 2024, up 16%.

    Income before tax rose by 161% to 328 million euros in Q4-24, and came to 1,200 million euros in 2024.
    (+7%).

    Underlying income before tax2 amounted to 355 million euros in Q4-24 (+162%) and 1,260 million euros in full-year 2024
    (+13%).

    1 Reported figures until “Income before tax” 2 “Underlying” means exclusive of exceptional items 3 The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses 4 Excluding provisions for home-purchase savings schemes 5 Income on regulated savings has been restated to account for the net interest margin and included under commissions

    4.1.3        Financial Solutions & Expertise

    €m1 Q4-24 %

    Change

    		 2024 %

    Change
    Net banking income 334 (0)% 1,303 2%
    Operating expenses (169) 1% (636) 1%
    Gross operating income 165 (2)% 667 3%
    Cost of risk (38) (30)% (108) 11%
    Income before tax 125 11% 555 2%
    Exceptional items 0 ns 0 ns
    Underlying2income before tax 125 11% 555 1%
    Underlying cost/income ratio3 50.7% 1.0pp 48.8% (0.3)pp

    Sales momentum remained strong in services designed for individual customers, particularly in consumer credit, with average loan outstandings (personal loans and revolving credit) up 7% year-on-year, consolidating the Group’s position as France’s leading bank for consumer credit.

    The Leasing activity continued to provide robust support to companies with growth in average outstandings (+10% year-on-year) chiefly driven by equipment leasing (+17%). Energéco, a player committed to the renewable energies sector, had an exceptional year with production exceeding, for the first time, one billion transactions arranged.

    Despite the unfavorable business environment, the business lines working in the housing and real estate sector demonstrated their resilience with confirmation in Q4-2024 of the positive upturn of activity in personal loan guarantees, leading to an increase in gross written premiums (+2% in Q4-24 year-on-year vs. -40% in the first 9 months of 2024).

    Net banking income for the Financial Solutions & Expertise business unit remained stable at 334 million euros in Q4-24, but rose 2% to 1,303 million euros in full-year 2024.

    Operating expenses, which stood at 169 million euros in Q4-24 and 636 million euros in full-year 2024, remained tightly managed.

    The underlying cost/income ratio3 increased by 1.0pp in Q4-24 to 50.7% and improved by 0.3pp in full-year 2024 to 48.8%.

    Gross operating income, which came to 165 million euros in Q4-24, was down 2%; it stood at 667 million euros in full-year 2024, up 3%.

    The cost of risk stood at -38 million euros in Q4-24, down 30%, and at -108 million euros in full-year 2024 (+11%).

    Income before tax rose by 11% to 125 million euros in Q4-24 and increased by 2% to 555 million euros in full-year 2024.

    Underlying income before tax2 rose by 11% in Q4-24 and by 1% in full-year 2024, to 125 million euros and 555 million euros respectively.

    1 Reported figures until “Income before tax” 2 “Underlying” means exclusive of exceptional items 3 The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses

    4.1.4        Insurance1
    The results presented below concern the Insurance business unit held directly by BPCE since March 1, 2022.

    €m2 Q4-24 % Change 2024 % Change
    Net banking income 171 17% 694 10%
    Operating expenses3 (36) (10)%4 (143) (12)%4
    Gross operating income 135 28% 550 17%
    Income before tax 141 32% 566 19%
    Exceptional items 0 ns 0 ns
    Underlying5income before tax 141 30% 566 17%
    Underlying cost/income ratio6 21.3% (5.3)pp 20.7% (4.1)pp

    In Q4-24, premiums7 reached 4.8 billion euros, up 12% thanks to the considerable dynamism demonstrated by Life Insurance and Life & Personal Protection insurance. In full-year 2024, premiums7 rose by 15% to 18.6 billion euros, with a 16% increase for Life & Personal Protection insurance and a 9% increase for Property & Casualty insurance.

    Life insurance assets under management7 reached 103 billion euros at the end of December 2024 thanks to record-breaking net inflows in both euro funds and unit-linked products. Since the end of December 2023, life insurance assets have risen by 12%, driven by significant positive inflows in both euro funds and unit-linked products. Gross inflows7 in life insurance stood at 14.9 billion euros in 2024. Unit-linked products accounted for 53% of inflows7 at the end of December 2024.

    In the Property & Casualty segment, the client equipment rate for both networks was approximately 35%8 at the end of December 2024, up 0.5pp since the end of December 2023.

    Net banking income rose by 17% in Q4-24 to 171 million euros, and rose by 10% to 694 million euros in full-year 2024.

    Operating expenses3 fell by 10%4 year-on-year in Q4-24 to 36 million euros, and by 12%4 in full-year 2024 to 143 million euros.

    The underlying cost/income ratio6 improved by 5.3pp to stand at 21.3% in Q4-24, and improved by 4.1pp to reach 20.7% in full-year 2024.

    Thanks to positive jaws effects in Q4-24 and full-year 2024, EBITDA rose by 28% and 17% respectively.

    Income before tax also improved, rising by 32% to 141 million euros in Q4-24 and by 19% to 566 million euros in full-year 2024.

    Underlying5income before tax came to 141 million euros in Q4-24 (+30%) and to 566 million euros in full-year 2024 (+17%).

    1 BPCE Assurances 2 Reported figures until “Income before tax” 3 “Operating expenses” corresponds to “non-attributable expenses” under IFRS 17, i.e. all costs that are not directly attributable to insurance contracts 4 At constant method: +7% in Q4-24 YoY and +4% in 2024 YoY 5 “Underlying” means exclusive of exceptional items 6 The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses 7 Excluding reinsurance treaty with CNP Assurance
    8 Scope: combined individual clients of the BP and CE networks

    4.1.5         Digital & Payments

    €m1 Q4-24 % Change 2024 % Change
    Net banking income 227 14% 873 7%
    o/w Payments 128 10% 491 6%
    o/w Oney 99 19% 382 8%
    Operating expenses (173) 1% (646) (1)%
    o/w Payments (108) 9% (394) 3%
    o/w Oney (65) (10)% (252) (7)%
    Gross operating income 54 96% 227 39%
    Cost of risk (33) (52)% (126) (26)%
    Income before tax 20 ns 97 ns
    Exceptional items (1) (99)% (5) (96)%
    Underlying2income before tax 21 ns 102 125%
    Underlying cost/income ratio3 76.2% (3.5)pp 73.9% (2.1)pp

    Digital & AI

    At the end of December 2024, 11.8 million customers were active on Banques Populaires and Caisses d’Epargne mobile applications (up 3% vs. end-December 2023).

    The “AI for all” in-house generative AI solution was being used by over 26,000 employees at the end of December 2024 (i.e. 25% of all Group employees.)

    Thanks to transformative AI, 10 million documents had been verified automatically (+71%) by end-December 2024.

    Payments

    Net banking income enjoyed 10% growth in Q4-24 and 6% growth in full-year 2024, while operating expenses rose 9% in Q4-24 and 3% in full-year 2024.

    The widespread use of Wero (European Payments Initiative) enables all customers to send and receive money via instant account-to-account payments in less than 10 seconds. Wero handles 2 million transactions per month and serves over 2 million active customers.

    In the Payment Solutions business, the number of card transactions rose by 5% year-on-year, with continued growth in mobile and instant payments (+54% and +49% year-on-year respectively) and the ongoing rollout of Android POS terminals (multiplied by a factor of 2). The launch of Google Pay has strengthened our range of mobile products.

    Oney Bank

    Net banking income rose by 8% in 2024 thanks to improved margin rates and the asset repricing effect. Oney maintained its leadership position in the BNPL4 segment in France while business was robust in Europe outside France (+19% in volumes year-on-year).

    Management expenses remained well under control, falling by 7% in full-year 2024.

    The sharp drop in the cost of risk in 2024 (-26% YoY) confirms the positive impact of our action plans.
    Net banking income for the Digital & Payments business unit rose by 14% in Q4-24 and by 7% in full-year 2024, to reach 227 million euros and 873 million euros respectively.

    The business unit’s operating expenses were up 1% in Q4-24 and down 1% in full-year 2024, to reach 173 million euros and 646 million euros respectively.

    This led to a 3.5pp improvement in the underlying cost/income ratio3 to 76.2% in Q4-24 and a 2.1pp improvement to 73.9% in full-year 2024.

    Gross operating income, which benefitted from positive jaws effects, rose by 96% in Q4-24 to 54 million euros, and by 39% to 227 million euros in full-year 2024.

    The cost of risk fell by 52% in Q4-24 to -33 million euros, and by 26% in full-year 2024 to -126 million euros.

    Income before tax amounted to 20 million euros in Q4-24 and 97 million euros full-year 2024.

    Underlying2income before tax came to 21 million euros in Q4-24 and 102 million euros in full-year 2024, equal to a sharp rise of 125%.

    1 Reported figures until “Income before tax” 2 “Underlying” means exclusive of exceptional items 3 The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses 4 Buy Now Pay Later

    4.2 Global Financial Services
    The GFS business unit includes the Asset & Wealth Management activities and the Corporate & Investment Banking activities of
    Natixis.

    €m1   Q4-24 % Change Constant Fx % change 2024 % Change Constant Fx % change
    Net banking income   2,055 8% 7% 7,947 8% 8%
    o/w CIB   1,087 5% 5% 4,440 7% 7%
    o/w AWM   968 11% 10% 3,507 10% 10%
    Operating expenses   (1,501) 8% 7% (5,651) 7% 7%
    o/w CIB   (738) 5% 5% (2,889) 8% 8%
    o/w AWM   (763) 11% 10% (2,763) 6% 6%
    Gross operating income   553 8% 7% 2,296 10% 10%
    Cost of risk   (86) 18%   (268) 73%  
    Income before tax   479 14%   2,051 4%  
    Exceptional items   0 ns   0 ns  
    Underlying2income before tax   479 10%   2,051 3%  
    Underlying cost/income ratio3   73.1% 0.7pp   71.1% (0.1)pp  

    GFS revenues rose by 8% in both Q4-24 and full-year 2024 to respectively 2,055 million euros (+7% at constant exchange rates) and 7,947 million euros (+8% at constant exchange rates). These trends are the result of the robust performance of our global business lines.

    In Q4-24, revenues generated by the Corporate & Investment Banking business rose by 5% to 1,087 million euros thanks, in particular, to the strong performance achieved by the Global Markets (+19%) and Global Finance (+2%) activities in full-year 2024. Net banking income for the CIB business in full-year 2024 rose by 7% to 4,440 million euros.

    In Q4-24, Asset & Wealth Management revenues rose 10% at constant exchange rates to 968 million euros, chiefly thanks to higher management fees year-on-year. Assets under management rose by 13% since the begging of the year to reach a historic high of 1,317 billion euros, with record inflows and a strong positive market and change effects.

    GFS operating expenses increased by 8% in Q4-24 and by 7% in 2024, to respectively 1,501 million euros (+7% at constant exchange rates) and 5,651 million euros (+7% at constant exchange rates). This rise in expenses is in line with revenue growth, leading to positive jaws effects in full-year 2024.

    In Q4-24, Corporate & Investment Banking operating expenses rose by 5% in line with revenue growth. Asset & Wealth Management expenses rose by 10% at constant exchange rates in Q4-24.

    The underlying cost/income ratio3 was 73.1% in Q4-24 and 71.1% in full-year 2024, up 0.7pp and down 0.1pp respectively.

    Gross operating income rose 8% in Q4-24 to 553 million euros (+7% at constant exchange rates); it rose 10% in full-year 2024 to 2,296 million euros (+10% at constant exchange rates).

    The cost of risk increased by 18% in Q4-24 and by 73% in full-year 2024, to -86 million euros and -268 million euros respectively.

    Income before tax rose by 14% in Q4-24 to 479 million euros, and by 4% in full-year 2024 to 2,051 million euros.

    Underlying2income before tax for Q4-24 was 479 million euros, up 10%, and stood at 2,051 million euros in full-year 2024, up 3%.

    1 Reported figures until “Income before tax” 2 “Underlying” means exclusive of exceptional items 3 The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses

    4.2.1        Corporate & Investment Banking
    The Corporate & Investment Banking (CIB) business unit includes the Global markets, Global finance, Investment banking and
    M&A activities of Natixis.

    €m1 Q4-24 % Change 2024 % Change
    Net banking income 1,087 5% 4,440 7%
    Operating expenses (738) 5% (2,889) 8%
    Gross operating income 349 5% 1,551 3%
    Cost of risk (98) 60% (282) 78%
    Income before tax 262 3% 1,293 (3)%
    Exceptional items 0 ns 0 ns
    Underlying2income before tax 262 1% 1,293 (4)%
    Underlying cost/income ratio3 67.9% 0.2pp 65.1% 1.2pp

    Global Markets revenues rose by 19% to 452 million euros in full-year 2024. Revenues generated by the Equity business rose 53% to 96 million euros in Q4-24, driven by a strong performance in the Global Securities Financing activity. FIC-T revenues rose by 14% to 354 million euros in Q4-24, driven by a strong performance in the Credit and Foreign Exchange segments.

    Global Finance revenues were up 2%, rising to 466 million euros in Q4-24 thanks to the sustained momentum of Trade Finance activities.

    Investment Banking revenues were up 6% to 50 million euros in Q4-24, driven by the Acquisition & Strategic Finance and SECM business lines.
    The M&A business lines recorded revenues of 361 million euros in full-year 2024, up 11% year-on-year.
    Natixis Partners has acquired a stake in Financière de Courcelles in order to strengthen its position in the French M&A market within the small, mid, and upper mid-cap segments.

    Net banking income generated by the Corporate & Investment Banking business unit rose by 5% in Q4-24 and by 7% in full-year 2024, to 1,087 million euros and 4,440 million euros respectively.

    Operating expenses, which stood at 738 million euros in Q4-24, reflect 5% growth; expenses rose 8% in full-year 2024 to 2,889 million euros, in line with revenue growth.

    The underlying cost/income ratio3 increased by 0.2pp to 67.9% in Q4-24, and by 1.2pp to 65.1% in full-year 2024.

    Gross operating income rose by 5% in Q4-24 to 349 million euros, and by 3% in full-year 2024 to 1,551 million euros.

    The cost of risk stood at -98 million euros, up 60%, in Q4-24, and at -282 million euros, up 78%, in full-year 2024.

    Income before tax was up 3% to 262 million euros in Q4-24, and down 3% to 1,293 million euros in full-year 2024.

    Underlying2income before tax was up 1% to 262 million euros in Q4-24, and down 4% to 1,293 million euros in full-year 2024.

    1 Reported figures until “Income before tax” 2 “Underlying” means exclusive of exceptional items 3 The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses

    4.2.2        Asset & Wealth Management
    The business unit includes the Asset & Wealth Management activities of Natixis.

    €m1 Q4-24 % Change 2024 % Change
    Net banking income 968 11% 3,507 10%
    Operating expenses (763) 11% (2,763) 6%
    Gross operating income 205 12% 744 27%
    Income before tax 217 32% 759 21%
    Exceptional items 0 ns 0 ns
    Underlying2income before tax 217 24% 759 16%
    Underlying cost/income ratio3 78.8% 1.0pp 78.8% (2.0)pp

    In Asset Management, assets under management4 reached an all-time high of 1,317 billion euros at the end of December 2024, up 13% since the beginning of the year, with record net inflows and strong positive market and currency effects.

    Net inflows into Asset Management4 reached 40 billion euros in full-year 2024, chiefly thanks to fixed-income products from Loomis Sayles and DNCA, and to life insurance products. Private asset inflows remained positive on an annual basis.

    ESG assets accounted for 40.3% of assets under management at the end of December 2024.

    Asset management revenues grew at constant exchange rates by 10% in full-year 2024 but also in Q4-2024, driven by a higher level of average assets under management (+10% in Q4-2024).

    In Asset Management4 in full-year 2024, the total fee rate (excluding performance fees) stood at 25.2bps (stable) and at 36.8bps excluding insurance asset management (-1.1bp).

    Net banking income for the Asset & Wealth Management business unit rose by 11% in Q4-24 to 968 million euros, and by 10% in full-year 2024 to 3,507 million euros.

    Operating expenses came to 763 million euros, up 11% in Q4-24, and to 2,763 million euros, up 6% in full-year 2024.

    The underlying cost/income ratio3increased by 1.0pp in Q4-24 to 78.8%, and improved by 2.0pp in full-year 2024 to 78.8%.

    Gross operating income rose by 12% to 205 million euros in Q4-24, and by 27% to 744 million euros in full-year 2024.

    Income before tax came to 217 million euros in Q4-24 (+32%), and to 759 million euros in full-year 2024 (+21%).

    Underlying2income before tax rose by 24% to 217 million euros in Q4-24, and by 16% to 759 million euros in full-year 2024.
            

    1 Reported figures until “Income before tax” 2 “Underlying” means exclusive of exceptional items 3 The business line cost/income ratios have been calculated on the basis of net banking income and underlying operating expenses 4 Asset management: Europe includes Dynamic Solutions and Vega IM; North America includes WCM IM; excluding Wealth Management

    ANNEXES

    Notes on methodology

    Presentation on the pro-forma quarterly results

    The 2023 quarterly series are presented pro forma with changes in standards and organization:
    The sectoral reallocation of the results of the private equity activities of the entities BP Développement & CE Développement from Corporate center to RB&I and GFS divisions.
    The new management standards adopted by Natixis (including the normative allocation of capital to the business lines) within the GFS division.
    The main evolutions impact RB&I, GFS and the Corporate center.
    The data for 2023 has been recalculated to obtain a like-for-like basis of comparison.
    The quarterly series of Groupe BPCE remain unchanged.
    The tables showing the transition from reported 2023 to pro-forma 2023 are presented on annexes.

    Exceptional items

    Exceptional items and the reconciliation of the reported income statement to the underlying income statement of Groupe BPCE are detailed in the annexes.

    Net banking income

    Customer net interest income, excluding regulated home savings schemes, is computed on the basis of interest earned from transactions with customers, excluding net interest on centralized savings products (Livret A, Livret Développement Durable, Livret Épargne Logement passbook savings accounts) in addition to changes in provisions for regulated home purchase savings schemes. Net interest on centralized savings is assimilated to commissions.

    Operating expenses

    Operating expenses correspond to the aggregate total of the “Operating Expenses” (as presented in the second amendment of Group’s universal registration document, note 4.7 appended to the consolidated financial statements of Groupe BPCE) and “Depreciation, amortization and impairment for property, plant and equipment and intangible assets.”

    Cost/income ratio

    Groupe BPCE’s cost/income ratio is calculated on the basis of net banking income and operating expenses excluding exceptional items. The calculations are detailed in the annexes.
    Business line cost/income ratios are calculated on the basis of underlying net banking income and operating expenses.

    Cost of risk

    The cost of risk is expressed in basis points and measures the level of risk per business line as a percentage of the volume of loan outstandings; it is calculated by comparing net provisions booked with respect to credit risks of the period to gross customer loan outstandings at the beginning of the period.

    Loan oustandings and deposits & savings

    Restatements regarding transitions from book outstandings to outstandings under management are as follows:
    Loan outstandings: the scope of outstandings under management does not include securities classified as customer loans and receivables and other securities classified as financial operations,
    Deposits & savings: the scope of outstandings under management does not include debt securities (certificates of deposit and savings bonds).

    Capital Adequacy

    Common Equity Tier 1 is determined in accordance with the applicable CRR II/CRD IV rules, after deductions.
    Additional Tier-1 capital takes account of subordinated debt issues that have become non-eligible and subject to ceilings at the phase-out rate in force.
    The leverage ratio is calculated in accordance with the applicable CRR II/CRD V rules. Centralized outstandings of regulated savings are excluded from the leverage exposures as are Central Bank exposures for a limited period of time (pursuant to ECB decision 2021/27 of June 18, 2021).

    Total loss-absorbing capacity

    The amount of liabilities eligible for inclusion in the numerator used to calculate the Total Loss-Absorbing Capacity (TLAC) ratio is determined by article 92a of CRR. Please note that a quantum of Senior Preferred securities has not been included in our calculation of TLAC.
    This amount is consequently comprised of the 4 following items:

    • Common Equity Tier 1 in accordance with the applicable CRR II/CRD IV rules,
    • Additional Tier-1 capital in accordance with the applicable CRR II/CRD IV rules,
    • Tier-2 capital in accordance with the applicable CRR II/CRD IV rules,
    • Subordinated liabilities not recognized in the capital mentioned above and whose residual maturity is greater than 1 year, namely:
      • The share of additional Tier-1 capital instruments not recognized in common equity (i.e. included in the phase-out),
      • The share of the prudential discount on Tier-2 capital instruments whose residual maturity is greater than 1 year,
      • The nominal amount of Senior Non-Preferred securities maturing in more than 1 year.

    Liquidity

    Total liquidity reserves comprise the following:

    • Central bank-eligible assets include: ECB-eligible securities not eligible for the LCR, taken for their ECB valuation (after ECB haircut), securities retained (securitization and covered bonds) that are available and ECB-eligible taken for their ECB valuation (after ECB haircut) and private receivables available and eligible for central bank funding (ECB and the Federal Reserve), net of central bank funding,
    • LCR eligible assets comprising the Group’s LCR reserve taken for their LCR valuation,
    • Liquid assets placed with central banks (ECB and the Federal Reserve), net of US Money Market Funds deposits and to which fiduciary money is added.

    Short-term funding corresponds to funding with an initial maturity of less than, or equal to, 1 year and the short-term maturities of medium-/long-term debt correspond to debt with an initial maturity date of more than 1 year maturing within the next 12 months.
    Customer deposits are subject to the following adjustments:

    • Addition of security issues placed by the Banque Populaire and Caisse d’Epargne retail banking networks with their customers, and certain operations carried out with counterparties comparable to customer deposits
    • Withdrawal of short-term deposits held by certain financial customers collected by Natixis in pursuit of its intermediation activities.

    Business line indicators – BP & CE networks

    Average rate (%) for residential mortgages: the average client rate for residential mortgages corresponds to the weighted average of actuarial rates for committed residential mortgages, excluding ancillary items (application fees, guarantees, creditor insurance). The rates are weighted by the amounts committed (offers made, net of cancellations) over the period under review. The calculation is based on aggregate residential mortgages, excluding zero interest rate loans.

    Average rate (%) for consumer loans: the average client rate for consumer loans corresponds to the weighted average of the actuarial rates for committed consumer loans, excluding ancillary items (application fees, guarantees, creditor insurance). The rates are weighted by the amounts committed (offers made net of cancellations) over the period under review. The calculation is based on the scope of amortizable consumer loans, excluding overdraft and revolving loans.

    Average rate (%) for equipment loans: the average customer rate for equipment loans is the average of the actuarial rates for equipment loans in each volume-weighted market.

    Digital indicators

    The number of active customers using mobile apps corresponds to the number of customers who have made at least one visit via one mobile apps over one month.
    The number of documents checked automatically corresponds to the number of documents transmitted by customers through their digital spaces or in a physical branch and checked automatically: eligibility for the LEP popular passbook savings account and customer intelligence documents (KYC) for consumer loans, mortgages (digital) and new business relationships (digital and physical branches).

    Impact indicators

    Financing for energy-efficient home renovation for individual clients: this indicator calculates the aggregate annual production of loans granted to individual customers (natural persons) to finance energy renovation work, expressed in €m:

    – Rénovation Energétique (Energy Renovation): consumer credit for environmentally-friendly properties,
    – ECO PTZ MPR: consumer credit designed for renovation work eligible for the MaPrimeRenov program (government scheme to support energy-efficient home renovation work) for up to a total of €30,000,
    – ECO PTZ: interest-free regulated home improvement loan for up to a total of €50,000

    Number of unique visitors to the ‘Advice and Sustainable Solutions’ digital module: this indicator calculates the aggregate annual number of unique visitors who consult the ‘Advice and sustainable solutions’ page on BP and CE mobile applications.

    Financing BtoB clients in their transition and decarbonization efforts: this indicator calculates the aggregate annual amount of loans granted to businesses to help finance their transition and decarbonization efforts, expressed in €m. This aggregate total is derived from the sum of BtoB loan amounts (Green loans + Impact loans + Vehicle Leasing + Green Lease with Purchase Option/Long-Term Rental agreements (LOA/LDD Green).

    Within the scope of CIB activities, Green revenues are comprised of:

    • Sustainable Finance (GSH scope)
    • Renewable & new energies franchises
    • Activities with clients/assets rated Dark & Medium Green (Green Weighting Factor).

    (restated for scope reconciliations).

    Reconciliation of 2023 data to pro forma data

    Retail banking and Insurance Q1-23
    €m Net banking income Operating expenses Income before tax Income
    tax    		 Net
    income
    Reported figures 3,891 (2,496) 1,107 (269) 840
    Sectoral reallocation 12 (1) 11 0 11
    Pro forma figures 3,903 (2,497) 1,118 (269) 851
    Global Financial Services Q1-23
    €m Net banking income Operating expenses Income before tax Income
    tax    		 Net
    income
    Reported figures 1,822 (1,303) 590 (146) 432
    Sectoral reallocation 0 0 0 0 0
    New rules 32 (2) 30 (4) 26
    Pro forma figures 1,854 (1,305) 621 (151) 458
    Corporate center Q1-23
    €m Net banking income Operating expenses Income before tax Income
    tax    		 Net
    income
    Reported figures 102 (788) (729) (10) (739)
    Sectoral reallocation (12) 1 (11) 0 (11)
    New rules (32) 2 (30) 4 (26)
    Pro forma figures 57 (785) (771) (5) (776)
    Retail banking and Insurance Q2-23
    €m Net banking income Operating expenses Income before tax Income
    tax    		 Net
    income
    Reported figures 3,655 (2,459) 952 (224) 729
    Sectoral reallocation (15) (1) (15) (0) (15)
    Pro forma figures 3,640 (2,460) 936 (224) 713
    Global Financial Services Q2-23
    €m Net banking income Operating expenses Income before tax Income
    tax    		 Net
    income
    Reported figures 1,798 (1,282) 429 (115) 300
    Sectoral reallocation (0) (0) (0) (0) (0)
    New rules 31 (5) 26 (3) 22
    Pro forma figures 1,829 (1,287) 455 (118) 322
    Corporate center Q2-23
    €m Net banking income Operating expenses Income before tax Income
    tax    		 Net
    income
    Reported figures 13 (58) (44) (14) (56)
    Sectoral reallocation 15 1 16 0 16
    New rules (31) 5 (26) 3 (22)
    Pro forma figures (3) (52) (54) (10) (63)
    Retail banking and Insurance Q3-23
    €m Net banking income Operating expenses Income before tax Income
    tax    		 Net
    income
    Reported figures 3,721 (2,358) 1,072 (268) 799
    Sectoral reallocation (13) (1) (14) 0 (14)
    Pro forma figures 3,709 (2,359) 1,058 (268) 785
    Global Financial Services Q3-23
    €m Net banking income Operating expenses Income before tax Income
    tax    		 Net
    income
    Reported figures 1,736 (1,279) 444 (114) 319
    Sectoral reallocation (0) (0) (0) 0 (0)
    New rules 31 (4) 27 (4) 23
    Pro forma figures 1,767 (1,283) 470 (118) 341
    Corporate center Q3-23
    €m Net banking income Operating expenses Income before tax Income
    tax    		 Net
    income
    Reported figures (3) (175) (176) (23) (200)
    Sectoral reallocation 13 1 14 0 14
    New rules (31) 4 (27) 4 (23)
    Pro forma figures (21) (170) (189) (19) (210)
    Retail banking and Insurance Q4-23      
    €m Net banking income Operating expenses Income before tax Income
    tax    		 Net
    income    		      
    Reported figures 3,557 (2,497) 395 (122) 294      
    Sectoral reallocation 19 (1) 18 (0) 18      
    Pro forma figures 3,576 (2,499) 413 (122) 312      
                 
    Global Financial Services Q4-23
    €m Net banking income Operating expenses Income before tax Income
    tax    		 Net
    income
    Reported figures 1,874 (1,389) 391 (118) 255
    Sectoral reallocation 0 (1) (0) (0) (0)
    New rules 33 (4) 29 (3) 26
    Pro forma figures 1,908 (1,394) 420 (121) 280
    Corporate center Q4-23
    €m Net banking income Operating expenses Income before tax Income
    tax    		 Net
    income
    Reported figures 31 (243) (249) 81 (168)
    Sectoral reallocation (20) 2 (18) 0 (18)
    New rules (33) 4 (29) 3 (26)
    Pro forma figures (22) (237) (296) 84 (211)

    Q4-24 & Q4-23 results : reconcialiation of reported data to alternative performance measures

    €m   Net banking income Operating expenses Cost of
    risk    		 Gains or
    losses on
    other assets    		 Income
    before tax    		 Net income
    – Group share
    Reported Q4-24 results   6,046 (4,184) (596) (35) 1,262 913
    Transformation and reorganization costs Business lines/Corporate center 0 (86)   (1) (87) (64)
    Disposals Corporate center       (1) (1) (1)
    Q4-24 results excluding exceptional items   6,045 (4,098) (596) (34) 1,349 977
    €m   Net banking income Operating expenses Cost of
    risk    		 Gains or
    losses on
    other assets    		 Income
    before tax    		 Net income
    – Group share
    Pro forma reported Q4-23 results   5,462 (4,129) (744) (43) 537 381
    Transformation and reorganization costs Business lines/Corporate center (5) (54) (34)   (93) (57)
    Disposals Corporate center       (43) (43) (43)
    Pro forma Q4-23 results excluding exceptional items   5,467 (4,076) (710) (0) 672 481

    2024 & 2023 results : reconcialiation of reported data to alternative performance measures

    €m   Net banking income Operating expenses Cost of
    risk    		 Gains or
    losses on
    other assets    		 Income
    before tax    		 Net income
    – Group share
    Reported 2024 results   23,317 (16,384) (2,061) 28 4,956 3,520
    Transformation and reorganization costs Business lines/Corporate center 3 (208)   (1) (206) (153)
    Disposals Corporate center 0     (3) (3) (3)
    2024 results excluding exceptional items   23,314 (16,176) (2,061) 32 5,165 3,675
    €m   Net banking income Operating expenses Cost of
    risk    		 Gains or
    losses on
    other assets    		 Income
    before tax    		 Net income
    – Group share
    Pro forma reported 2023 results   22,198 (16,328) (1,731) 8 4,182 2,804
    Transformation and reorganization costs Business lines/Corporate center 2 (213) (32)   (242) (164)
    Disposals  Corporate center       (45) (45) (44)
    Litigations Business lines/Corporate center 87       87 87
    Pro forma 2023 results excluding exceptional items   22,108 (16,115) (1,699) 53 4,381 2,925

    Groupe BPCE : underying cost to income ratio

    €m Net banking income Operating expenses Underlying
    cost income ratio
    Q4-24 reported figures 6,046 (4,184)  
    Impact of exceptional items 0 (86)  
    Q4-24 underlying figures 6,045 (4,098) 67.8%
    €m Net banking income Operating expenses Underlying
    cost income ratio
    Q4-23 Pro forma reported figures 5,462 (4,129)  
    Impact of exceptional items (5) (54)  
    Q4-23 Pro forma underlying figures 5,467 (4,076) 74.6%

    Groupe BPCE : underying cost to income ratio

    €m Net banking income Operating expenses Underlying
    cost income ratio
    2024 reported figures 23,317 (16,384)  
    Impact of exceptional items 3 (208)  
    2024 underlying figures 23,314 (16,176) 69.4%
    €m Net banking income Operating expenses Underlying
    cost income ratio
    2023 Pro forma reported figures 22,198 (16,328)  
    Impact of exceptional items 89 (213)  
    2023 Pro forma underlying figures 22,108 (16,115) 72.9%

    Groupe BPCE : quarterly income statement per business line

      RETAIL BANKING
    & INSURANCE    		 GLOBAL FINANCIAL SERVICES CORPORATE CENTER GROUPE
    BPCE
    €m Q4-24 Q4-23 Q4-24 Q4-23 Q4-24 Q4-23 Q4-24 Q4-23 %
    Net banking income 4,064 3,576 2,055 1,908 (73) (22) 6,046 5,462 11%
    Operating expenses (2,497) (2,499) (1,501) (1,394) (186) (237) (4,184) (4,129) 1%
    Gross operating income 1,567 1,077 553 514 (259) (259) 1,862 1,332 40%
    Cost of risk (556) (643) (86) (73) 46 (28) (596) (744) (20)%
    Income before tax 998 413 479 420 (215) (296) 1,262 537 x 2
    Income tax (222) (122) (124) (121) 19 84 (326) (159) x 2
    Non-controlling interests (5) 21 (18) (19) 0 1 (23) 3 ns
    Net income – Group share 772 312 337 280 (196) (211) 913 381 x 2

    Groupe BPCE : 2024 income statement per business line

      RETAIL BANKING
    & INSURANCE    		 GLOBAL FINANCIAL SERVICES CORPORATE CENTER GROUPE
    BPCE
    €m 2024 2023 2024 2023 2024 2023 2024 2023 %
    Net banking income 15,397 14,828 7,947 7,358 (27) 12 23,317 22,198 5%
    Operating expenses (9,902) (9,815) (5,651) (5,269) (831) (1,244) (16,384) (16,328) 0%
    Gross operating income 5,495 5,013 2,296 2,088 (858) (1,232) 6,933 5,870 18%
    Cost of risk (1,751) (1,505) (268) (154) (43) (72) (2,061) (1,731) 19%
    Income before tax 3,807 3,526 2,051 1,966 (902) (1,310) 4,956 4,182 19%
    Income tax (891) (882) (534) (507) 67 49 (1,357) (1,340) 1%
    Non-controlling interests (14) 18 (66) (56) 1 1 (79) (38) x 2
    Net income – Group share 2,902 2,661 1,452 1,402 (834) (1,260) 3,520 2,804 26%

    Groupe BPCE : quarterly series

    GROUPE BPCE
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
    Net banking income 5,815 5,467 5,455 5,462 5,753 5,626 5,892 6,046
    Operating expenses (4,587) (3,799) (3,812) (4,129) (4,151) (4,008) (4,041) (4,184)
    Gross operating income 1,228 1,667 1,642 1,332 1,602 1,618 1,851 1,862
    Cost of risk (326) (342) (319) (744) (382) (560) (523) (596)
    Income before tax 968 1,337 1,339 537 1,233 1,124 1,336 1,262
    Net income – Group share 533 973 917 381 875 806 925 913

    Groupe BPCE : Consolidated balance sheet

    ASSETS
    €m    		 Dec. 31, 2024 Dec. 31, 2023
    Cash and amounts due from central banks 133,186 152,669
    Financial assets at fair value through profit or loss 230,521 214,582
    Hedging derivatives 7,624 8,855
    Financial assets at fair value through other comprehensive income 57,166 48,073
    Securities at amortized cost 27,021 26,373
    Loans and advances to banks and similar at amortized cost 115,862 108,631
    Loans and receivables due from customers at amortized cost 851,843 839,457
    Revaluation difference on interest rate risk-hedged portfolios (856) (2,626)
    Financial investments of insurance activities 115,631 103,615
    Insurance contracts issued – Assets 1,134 1,124
    Reinsurance contracts held – Assets 9,320 9,564
    Current tax assets 640 829
    Deferred tax assets 4,160 4,575
    Accrued income and other assets 16,444 14,611
    Non-current assets held for sale 438 –
    Investments in accounted for using equity method 2,146 1,616
    Investment property 733 717
    Property, plant and equipment 6,085 6,023
    Intangible assets 1,147 1,110
    Goodwill 4,312 4,224
    TOTAL ASSETS 1,584,558 1,544,022
    LIABILITIES
    €m    		 Dec. 31, 2024 Dec. 31, 2023
    Amounts due to central banks 1 2
    Financial liabilities at fair value through profit or loss 218,963 204,023
    Hedging derivatives 14,260 14,973
    Debt securities 304,957 292,598
    Amounts due to banks and similar 69,953 79,634
    Amounts due to customers 723,090 711,658
    Revaluation difference on interest rate risk-hedged portfolios, liabilities 14 159
    Insurance contracts issued – Liabilities 117,551 106,137
    Reinsurance contracts held – Liabilities 119 149
    Current tax liabilities 2,206 2,026
    Deferred tax liabilities 1,323 1,640
    Accrued expenses and other liabilities 20,892 22,492
    Liabilities associated with non-current assets held for sale 312 –
    Provisions 4,748 4,825
    Subordinated debt 18,401 18,801
    Shareholders’ equity 87,768 84,905
    Equity attributable to equity holders of the parent 87,137 84,351
    Non-controlling interests 630 553
    TOTAL LIABILITIES 1,584,558 1,544,022

    Groupe BPCE : Goodwill

    €m Dec. 31, 2023 Acquisitions IRFS5 reclassifications Translation adjustments Dec. 31, 2024
    Retail Banking & Insurance 822 58     879
    Asset & Wealth Management 3,257 1 (72) 95 3,280
    Corporate & Investment Banking 144     7 151
    Total 4,224 58 (72) 102 4,312

    Groupe BPCE: Statement of changes in shareholders’ equity

    €m Equity attributable to shareholders’ equity
    December 31, 2023 84,407
    Restatements1 (56)
    December 31, 2023 restated 84,351
    Distributions (833)
    Change in capital (cooperative shares) 90
    Impact of acquisitions and disposals on non-controlling interests (minority interests) (48)
    Income 3,520
    Changes in gains & losses directly recognized in equity 144
    Capital gains and losses reclassified as reserves (31)
    Others (56)
    December 31, 2024 87,137

    1 Opening shareholders’ equity has been adjusted for Funding Valuation Adjustments whose non-material impact on income has not given rise to a change in the latter in the 2024 consolidated financial statements

    Retail Banking & Insurance: quarterly income statement

      BANQUE POPULAIRE NETWORK CAISSE D’EPARGNE NETWORK FINANCIAL SOLUTIONS & EXPERTISE INSURANCE DIGITAL & PAYMENTS OTHER NETWORK RETAIL BANKING & INSURANCE
    €m Q4-24 Q4-23 % Q4-24 Q4-23 % Q4-24 Q4-23 % Q4-24 Q4-23 % Q4-24 Q4-23 % Q4-24 Q4-23 % Q4-24 Q4-23 %  
    Net banking income 1,614 1,382 17% 1,616 1,423 14% 334 335 (0)% 171 146 17% 227 199 14% 101 91 12% 4,064 3,576 14%  
    Operating expenses (980) (975) 1% (1,084) (1,081) 0% (169) (167) 1% (36) (41) (10)% (173) (171) 1% (53) (63) (16)% (2,497) (2,499) (0)%  
    Gross operating income 634 407 56% 531 343 55% 165 168 (2)% 135 105 28% 54 27 96% 48 28 75% 1,567 1,077 45%  
    Cost of risk (266) (282) (6)% (205) (218) (6)% (38) (54) (31)%       (33) (69) (52)% (15) (19) (23)% (556) (643) (13)%  
    Income before tax 352 149 x2 328 126 x3 125 112 12% 141 107 32% 20 (89) ns 33 9 x4 998 413 x2  
    Income tax (73) (45) 62% (78) (20) x4 (33) (27) 22% (29) (25) 16% 0 (2) ns (8) (2) x4 (222) (122) 82%  
    Non-controlling interests (0) (6) (94)% (1) (3) (66)% 0 (0) ns 0 (1) ns (3) 30 ns       (5) 21 ns  
    Net income – Group share 278 98 x3 248 103 x2 92 85 8% 112 81 39% 16 (61) ns 25 7 x4 772 312 x2  
      BANQUE POPULAIRE NETWORK CAISSE D’EPARGNE NETWORK FINANCIAL SOLUTIONS & EXPERTISE INSURANCE DIGITAL & PAYMENTS OTHER NETWORK RETAIL BANKING & INSURANCE
    €m 2024 2023 % 2024 2023 % 2024 2023 % 2024 2023 % 2024 2023 % 2024 2023 % 2024 2023 %  
    Net banking income 6,098 5,862 4% 6,054 5,858 3% 1,303 1,274 2% 694 633 10% 873 816 7% 375 384 (2)% 15,397 14,828 4,%  
    Operating expenses (4,047) (3,970) 2% (4,216) (4,181) 1% (636) (630) 1% (143) (163) (12)% (646) (652) (1)% (213) (218) (2)% (9,902) (9,815) 1%  
    Gross operating income 2,051 1,892 8% 1,838 1,677 10% 667 644 3% 550 470 17% 227 164 39% 162 166 (2)% 5,495 5,013 10%  
    Cost of risk (814) (651) 25% (640) (553) 16% (108) (98) 11%       (126) (171) (26)% (62) (33) 89% (1,751) (1,505) 16%  
    Income before tax 1,285 1,308 (2)% 1,200 1,125 7% 555 545 2% 566 475 19% 97 (68) ns 103 140 (26)% 3,807 3,526 8%  
    Income tax (307) (329) (7)% (264) (254) 4% (146) (140) 4% (123) (99) 24% (27) (25) 9% (24) (35) (30)% (891) (882) 1%  
    Non-controlling interests (9) (24) (64)% (5) (7) (24)% 0 (0) ns 0 (0) ns (0) 49 ns       (14) 18 ns  
    Net income – Group share 970 954 2% 931 864 8% 409 405 1% 443 376 18% 70 (43) ns 79 106 (25)% 2,902 2,661 9%  

    Retail Banking & Insurance: 2024 income statement

    Retail banking & insurance: quarterly series

    RETAIL BANKING & INSURANCE
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
    Net banking income 3,903 3,640 3,709 3,576 3,763 3,701 3,869 4,064
    Operating expenses (2,497) (2,460) (2,359) (2,499) (2,547) (2,456) (2,403) (2,497)
    Gross operating income 1,406 1,180 1,350 1,077 1,217 1,245 1,467 1,567
    Cost of risk (308) (252) (302) (643) (296) (475) (423) (556)
    Income before tax 1,118 936 1,058 413 934 831 1,044 998
    Net income – Group share 851 713 785 312 709 637 785 772

    Retail Banking & Insurance: Banque Populaire and Caisse d’Epargne networks quarterly series

    BANQUE POPULAIRE NETWORK
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
    Net banking income 1,569 1,442 1,469 1,382 1,489 1,489 1,506 1,614
    Operating expenses (1,018) (1,015) (961) (975) (1,043) (1,025) (999) (980)
    Gross operating income 551 427 508 407 445 464 508 634
    Cost of risk (132) (110) (127) (282) (125) (228) (195) (266)
    Income before tax 434 328 398 149 329 290 315 352
    Net income – Group share 332 240 284 98 252 210 230 278
                     
    CAISSE D’EPARGNE NETWORK
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
    Net banking income 1,537 1,465 1,432 1,423 1,454 1,467 1,517 1,616
    Operating expenses (1,066) (1,041) (993) (1,081) (1,085) (1,038) (1,008) (1,084)
    Gross operating income 470 424 440 343 368 429 509 531
    Cost of risk (136) (84) (115) (218) (100) (176) (159) (205)
    Income before tax 334 340 325 126 270 252 350 328
    Net income – Group share 253 256 253 103 208 194 281 248

    Retail Banking & Insurance: FSE quarterly series

    FINANCIAL SOLUTIONS & EXPERTISE
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
    Net banking income 315 306 318 335 327 320 322 334
    Operating expenses (157) (151) (154) (167) (162) (154) (151) (169)
    Gross operating income 158 155 164 168 166 166 171 165
    Cost of risk (6) (19) (18) (54) (24) (22) (24) (38)
    Income before tax 151 136 146 112 141 143 146 125
    Net income – Group share 112 102 107 85 104 106 108 92

    Retail Banking & Insurance: Insurance quarterly series

    INSURANCE
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
    Net banking income 180 126 181 146 188 118 217 171
    Operating expenses (43) (37) (42) (41) (42) (25) (40) (36)
    Gross operating income 137 89 139 105 146 93 177 135
    Income before tax 139 93 137 107 149 99 177 141
    Net income – Group share 109 83 103 81 113 92 126 112

    Retail Banking & Insurance: Digital & Payments quarterly series

    DIGITAL & PAYMENTS
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
    Net banking income 205 203 209 199 215 214 218 227
    Operating expenses (161) (163) (157) (171) (160) (159) (154) (173)
    Gross operating income 44 40 52 27 55 55 64 54
    Cost of risk (32) (41) (29) (69) (31) (32) (30) (33)
    Income before tax 8 (6) 19 (89) 24 22 32 20
    Net income – Group share 7 (3) 13 (61) 17 16 21 16

    Retail Banking & Insurance: Other network quarterly series

    OTHER NETWORK
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
    Net banking income 97 97 99 91 91 93 90 101
    Operating expenses (51) (52) (52) (63) (55) (55) (51) (53)
    Gross operating income 46 45 47 28 37 38 39 48
    Cost of risk (2) 2 (14) (19) (16) (17) (14) (15)
    Income before tax 52 47 33 9 20 25 25 33
    Net income – Group share 39 36 25 7 16 19 20 25

    Global Financial Services: quarterly income statement per business line

      ASSET AND WEALTH MANAGEMENT CORPORATE & INVESTMENT
    BANKING    		 GLOBAL FINANCIAL
    SERVICES
    €m Q4-24 Q4-23 Q4-24 Q4-23 Q4-24 Q4-23 %
    Net banking income 968 874 1,087 1,034 2,055 1,908 8%
    Operating expenses (763) (691) (738) (703) (1,501) (1,394) 8%
    Gross operating income 205 183 349 331 553 514 8%
    Cost of risk 12 (12) (98) (62) (86) (73) 18%
    Share in net income of associates 0 0 12 4 12 4 x3
    Gains or losses on other assets 0 (7) 0 (17) 0 (24) ns
    Income before tax 217 165 262 255 479 420 14%
    Net income – Group share 143 105 194 176 337 280 20%

    Global Financial Services: 2024 income statement per business line

      ASSET AND WEALTH MANAGEMENT CORPORATE & INVESTMENT
    BANKING    		 GLOBAL FINANCIAL
    SERVICES
    €m 2024 2023 2024 2023 2024 2023 %
    Net banking income 3,507 3,192 4,440 4,166 7,947 7,358 8%
    Operating expenses (2,763) (2,604) (2,889) (2,666) (5,651) (5,269) 7%
    Gross operating income 744 588 1,551 1,500 2,296 2,088 10%
    Cost of risk 14 4 (282) (158) (268) (154) 73%
    Share in net income of associates 0 0 23 13 23 14 67%
    Gains or losses on other assets 0 35 0 (17) 0 18 ns
    Income before tax 759 627 1,293 1,338 2,051 1,966 4%
    Net income – Group share 500 425 952 977 1,452 1,402 4%

    Global Financial Services: quarterly series

    GLOBAL FINANCIAL SERVICES
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24  
    Net banking income 1,854 1,829 1,767 1,908 1,933 1,983 1,976 2,055  
    Operating expenses (1,305) (1,287) (1,283) (1,394) (1,368) (1,366) (1,415) (1,501)  
    Gross operating income 549 542 483 514 564 617 561 553  
    Cost of risk 27 (91) (17) (73) (58) (82) (41) (86)  
    Income before tax 621 455 470 420 510 539 525 479  
    Net income – Group share 458 322 341 280 364 384 366 337  

    Corporate & Investment Banking: quarterly series

    CORPORATE & INVESTMENT BANKING
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24  
    Net banking income 1,074 1,056 1,002 1,034 1,102 1,133 1,118 1,087  
    Operating expenses (661) (651) (650) (703) (706) (694) (751) (738)  
    Gross operating income 412 405 352 331 396 439 367 349  
    Cost of risk 21 (90) (28) (62) (54) (91) (39) (98)  
    Income before tax 437 318 328 255 346 352 333 262  
    Net income – Group share 321 233 247 176 255 261 242 194  

    Asset & Wealth Management: quarterly series

    ASSET & WEALTH MANAGEMENT
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24  
    Net banking income 781 773 764 874 830 850 858 968  
    Operating expenses (644) (636) (633) (691) (662) (673) (664) (763)  
    Gross operating income 137 137 131 183 168 178 194 205  
    Cost of risk 6 (1) 11 (12) (5) 9 (2) 12  
    Income before tax 184 136 143 165 163 187 192 217  
    Net income – Group share 137 89 94 105 109 123 124 143  

    Corporate center: quarterly series

    CORPORATE CENTER
    €m Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24
    Net banking income 57 (3) (21) (22) 57 (58) 46 (73)
    Operating expenses (785) (52) (170) (237) (236) (186) (223) (186)
    Gross operating income (728) (55) (191) (259) (179) (244) (176) (259)
    Cost of risk (46) 1 0 (28) (28) (2) (59) 46
    Share in income of associates 2 0 1 (9) 3 0 1 5
    Gains or losses on other assets (0) 0 (0) (0) (6) 1 3 (8)
    Income before tax (771) (54) (189) (296) (210) (245) (232) (215)
    Net income – Group share (776) (63) (210) (211) (198) (215) (226) (196)

    DISCLAIMER

    This document may contain forward-looking statements and comments relating to the objectives and strategy of Groupe BPCE. By their very nature, these forward-looking statements inherently depend on assumptions, project considerations, objectives and expectations linked to future events, transactions, products and services as well as on suppositions regarding future performance and synergies.

    No guarantee can be given that such objectives will be realized; they are subject to inherent risks and uncertainties and are based on assumptions relating to the Group, its subsidiaries and associates and the business development thereof; trends in the sector; future acquisitions and investments; macroeconomic conditions and conditions in the Group’s principal local markets; competition and regulation. Occurrence of such events is not certain, and outcomes may prove different from current expectations, significantly affecting expected results. Actual results may differ significantly from those anticipated or implied by the forward-looking statements. Groupe BPCE shall in no event have any obligation to publish modifications or updates of such objectives.

    Information in this presentation relating to parties other than Groupe BPCE or taken from external sources has not been subject to independent verification; the Group makes no statement or commitment with respect to this third-party information and makes no warranty as to the accuracy, fairness, precision or completeness of the information or opinions contained in this press release. Neither Groupe BPCE nor its representatives shall be held liable for any errors or omissions or for any harm that may result from the use of this presentation or of its contents or any related material, or of any document or information referred to in this presentation.

    The financial information presented in this document relating to the fiscal period ended December 31, 2024 has been drawn up in compliance with IFRS standards, as adopted in the European Union.
    This financial information is not the equivalent of summary financial statements for an interim period as defined by IAS 34 “Interim Financial Reporting”.

    Preparation of the financial information requires Management to make estimates and assumptions in certain areas regarding uncertain future events.

    These estimates are based on the judgment of the individuals preparing this financial information and the information available at the date of the balance sheet. Actual future results may differ from these estimates. For further information, see chapter 5, part 5.1, note 2.3 “Use of estimates and judgments” of the Universal Registration Document 2023 filed with the Autorité des Marchés Financiers, the French financial markets authority.
    With respect to the financial information of Groupe BPCE for the quarter ended December 31, 2024, and in view of the context mentioned above, attention should be drawn to the fact that the estimated increase in credit risk and the calculation of expected credit losses (IFRS 9 provisions) are largely based on assumptions that depend on the macroeconomic context.

    Significant factors liable to cause actual results to differ from those anticipated in the projections are related to the banking and financial environment in which Groupe BPCE operates, which exposes it to a multitude of risks. These potential risks liable to affect Groupe BPCE’s financial results are detailed in the “Risk factors & risk management” chapter of the latest amendment to the 2023 Universal Registration Document filed with the Autorité des Marchés Financiers.

    Investors are advised to consider the uncertainties and risk factors liable to affect the Group’s operations when examining the information contained in the projection elements.

    The financial results contained in this presentation have not been reviewed by the statutory auditors. The quarterly financial information of Groupe BPCE for the period ended December 31, 2024, approved by the Management Board at a meeting convened on February 3, 2025, were verified and reviewed by the Supervisory Board at a meeting convened on February 5, 2025.

    The sum of the values shown in the tables and analyses may differ slightly from the total reported owing to rounding effects.

    About Groupe BPCE
    Groupe BPCE is the second-largest banking group in France. Through its 100,000 staff, the group serves 35 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the wholesale banking expertise of Natixis Corporate & Investment Banking and with the asset & wealth management services provided by Natixis Investment Managers.
    The Group’s financial strength is recognized by four financial rating agencies: Moody’s (A1, stable outlook), Standard & Poor’s (A+, stable outlook), Fitch (A+, stable outlook) and R&I (A+, stable outlook).

             groupebpce.com

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