Category: Politics

MIL-OSI USA: Murphy, Underwood Demand Answers On Reported FEMA Grant Freeze
US Senate News:
Source: United States Senator for Connecticut – Chris Murphy

WASHINGTON—U.S. Senator Chris Murphy (D-Conn.), Ranking Member of the U.S. Senate Appropriations Subcommittee on Homeland Security, and U.S. Representative Lauren Underwood (D-Ill.), acting Ranking Member of the U.S. House Appropriations Subcommittee on Homeland Security, on Friday sent a letter to Kristi Noem, U.S. Secretary of Homeland Security, demanding answers about reports that FEMA froze funding for critical grant programs. The lawmakers requested the U.S. Department of Homeland Security (DHS) clarify the authority behind these potential funding holds, their impact on public safety, and the recent firing of FEMA employees tied to grant administration.

Murphy and Underwood emphasized the myriad ways this funding supports public safety and disaster preparedness: “FEMA federal assistance funding appropriated by Congress supports counterterrorism, transportation and port security, fire departments and other first responders, state and local emergency management, border security, flood mapping, alerts and warnings to the public, and more. These funds make our communities more safe and secure, and enjoy bicameral and bipartisan support. There is no question as to Congressional intent that FEMA federal assistance be quickly provided to eligible applicants, with annual appropriations language requiring many of these grants to be announced, applied for, and awarded within 205 days of the date of enactment.”

“Recipients of FEMA grants count on these funds to provide essential services for the American people across virtually every State, Territory, and Tribe,” they continued. “They fund firefighters, emergency medical technicians, and the equipment they use. They harden our infrastructure to protect against acts of terror. They allow for the identification of flood risk so we don’t build in flood plains. They protect our religious institutions from threats of violence. They fund the infrastructure to notify the public of impending danger. They build out national emergency management capabilities, such as urban search and rescue teams that respond to disasters across the country in times of need.”

They concluded: “Any ‘financial holds’ on these funds would be both reckless and in contravention of appropriations law. Even the slightest delay in the disbursement of awarded funds can have devastating effects on our communities. If any such holds are in place, they should be lifted immediately absent extremely compelling circumstances that have not yet been communicated to the Committees.”

Full text of the letter is available HERE and below:

Dear Secretary Noem,

The Committees are seeking information related to the possible freezing of grant funding within the Federal Emergency Management Agency (FEMA). According to a February 11, 2025, report from NBC News, “(a) senior official at the Federal Emergency Management Agency instructed subordinates to freeze funding for a wide array of grant programs Monday,” February 10, 2025. The article cites an email with the subject line, “URGENT: Holds on awards,” which purportedly instructs FEMA employees to “put financial holds on all of your awards—all open awards, all years (2021, 2022, 2023, 2024).”

FEMA federal assistance funding appropriated by Congress supports counterterrorism, transportation and port security, fire departments and other first responders, state and local emergency management, border security, flood mapping, alerts and warnings to the public, and more. These funds make our communities more safe and secure, and enjoy bicameral and bipartisan support. There is no question as to Congressional intent that FEMA federal assistance be quickly provided to eligible applicants, with annual appropriations language requiring many of these grants to be announced, applied for, and awarded within 205 days of the date of enactment.

Recipients of FEMA grants count on these funds to provide essential services for the American people across virtually every State, Territory, and Tribe. They fund firefighters, emergency medical technicians, and the equipment they use. They harden our infrastructure to protect against acts of terror. They allow for the identification of flood risk so we don’t build in flood plains. They protect our religious institutions from threats of violence. They fund the infrastructure to notify the public of impending danger. They build out national emergency management capabilities, such as urban search and rescue teams that respond to disasters across the country in times of need.

Any “financial holds” on these funds would be both reckless and in contravention of appropriations law. Even the slightest delay in the disbursement of awarded funds can have devastating effects on our communities. If any such holds are in place, they should be lifted immediately absent extremely compelling circumstances that have not yet been communicated to the Committees. As such, please provide written responses to the following questions, including any associated documentation:
1. Were any such holds placed on FEMA grant programs, and if so, are such holds still in place?
2. Under what authority or authorities were such holds implemented?
3. If any such holds were or are in place, what funds were withheld and over what time period(s), split by both program and recipients?
4. What, if any, reviews were conducted, are currently underway, or are planned with respect to these funds?
5. How are these reviews being performed, what office is performing them, and how and when will these results be communicated to the Committee?
In addition, the Committees are seeking information following recent news out of FEMA related to the administration of grant programs and the firing of agency personnel.

On February 11, 2025, we understand that four FEMA employees were fired for activities related to the Shelter and Services Program (SSP), and funding that was drawn down by New York City government pursuant to their SSP grant award. In a statement to the Associated Press on February 10, 2025, your spokesperson, Trisha McLaughlin, stated that “(i)ndividuals who circumvented leadership and unilaterally made this payment will be fired and held accountable.” However, you have not provided any evidence that the actions of these employees were illegal, misaligned with the law, or contrary to the intent of Congress.

On January 28, 2025, you issued a memorandum, Direction on Grants to Non-governmental Organizations. In that memorandum, you directed that “all Department grant disbursements and assessments of grant applications that: (a) go to non-profit organizations or for which non-profit organizations are eligible, and (b) touch in any way on immigration, are on hold pending review, except to the extent required by controlling legal authority.” The memorandum did not impact grants to state, local, tribal, or territorial governments, or grants for which those governments are eligible.

We understand that FEMA paused disbursements to non-governmental organizations (NGOs) awarded grants under SSP pursuant to the aforementioned memorandum. However, because the memorandum did not apply to grants to state, local, tribal, or territorial governments, it did not impact SSP grants to New York City government. SSP grants to New York City and other recipients were awarded pursuant to enacted appropriations by this Committee and the applicable Notices of Funding Opportunity (NOFOs), and were subject to budget submissions and spend plans requiring approval by FEMA prior to funding drawdowns by the recipients.

Considering that: (1) your January 28, 2025, memorandum did not impact SSP grants to New York City government; (2) the awarding of funds to New York City government were made before the current administration took office on January 20, 2025; (3) the awarding of SSP grants, including to New York City government, were implemented in accordance with enacted law and Congressional intent; and (4) mechanisms were in place for New York City government to draw down funding for eligible expenses per their approved budget and spend plan; what is the justification for the firing of the four FEMA employees? Further, what leadership was “circumvented,” and in what way(s) did they “unilaterally” make “this payment?”

Please provide responses to the bulleted grant questions immediately, including supporting documentation (and dates), along with any written guidance or direction related to such holds. If guidance or direction was provided via non-written means, please provide a written description of such guidance or direction. Please provide responses to the SSP-related questions by February 21, 2025.
MIL OSI USA News –
February 15, 2025
MIL-OSI USA: Murphy, Blumenthal, Colleagues Tell Trump: Hands Off Medicare And Medicaid

US Senate News:

Source: United States Senator for Connecticut – Chris Murphy

WASHINGTON—U.S. Senator Chris Murphy (D-Conn.), a member of the U.S. Senate Health, Education, Labor, and Pensions Committee, and U.S. Senator Richard Blumenthal (D-Conn.), joined 30 of their Senate colleagues in sending a letter to President Donald Trump demanding the Trump administration, Elon Musk, and the Department of Government Efficiency (DOGE) make no cuts to Medicare and Medicaid to pay for tax cuts for billionaires. This follows reports that Elon Musk and DOGE officials gained access to key payment and contracting systems at the Centers for Medicaid & Medicare Services (CMS), which administers Medicare and Medicaid.

In 2024, 68 million seniors and people with disabilities relied on Medicare coverage for essential health care, including hospital visits, screenings for cancer, diabetes, and depression, and prescription drugs. Nearly 80 million Americans relied on Medicaid, making it the largest public health insurance program in the United States.

“We write to say no to Elon Musk and DOGE, and demand hands off Medicare or Medicaid,” the lawmakers wrote. “We strongly oppose any efforts by Musk – or anyone else in your administration – cutting or damaging these vital programs. Medicare and Medicaid must not be raided to pay for tax cuts for billionaires. Every cut risks Americans paying more, waiting longer, and wading through more insurance red tape for care. Every cut risks hospitals and community health centers struggling harder to keep their doors open and forcing health providers and workers out of their jobs.”

They added: “We continue to fight for a health care system that works better for all Americans, so they experience lower costs, shorter wait times, and receive better care. But your Administration, Elon Musk, and DOGE have already made that harder. Your Administration is already responsible for the shut-down of Medicaid portals across all 50 states, disruptions to vital health care communication, closures of community health centers, and significant delays in funding for life-saving health research. Cuts to Medicare and Medicaid will only serve to deepen the harm.”

The lawmakers concluded: “It is dangerously unacceptable that an unelected Musk and his unqualified acolytes have access to sensitive CMS systems and are ready to bypass Congress to make life and death decisions affecting millions of Americans. No one asked for this lawless approach to our critical government health care systems. We urge you to stop this threat to Americans’ health care, now.”

U.S. Senators Edward J. Markey (D-Mass.), Elizabeth Warren (D-Mass.), Chuck Schumer (D-N.Y.), Angela Alsobrooks (D-Md.), Tammy Baldwin (D-Wisc.), Lisa Blunt Rochester (D-Del.), Cory Booker (D-N.J.), Maria Cantwell (D-Wash.), Chris Coons (D-Del.), Tammy Duckworth (D-Ill.), Richard Durbin (D-Ill.), Ruben Gallego (D-Ariz.), Kirsten Gillibrand (D-N.Y.), Mazie Hirono (D-Hawaii), Mark Kelly (D-Ariz.), Andy Kim (D-N.J.), Amy Klobuchar (D-Minn.), Ben Ray Luján (D-N.M.), Jeff Merkley (D-Ore.), Alex Padilla (D-Calif.), Jack Reed (D-R.I.), Bernie Sanders (I-Vt.), Adam Schiff (D-Calif.), Jeanne Shaheen (D-N.H.), Tina Smith (D-Minn.), Chris Van Hollen (D-Md.), Raphael Warnock (D-Ga.), Peter Welch (D-Vt.), Sheldon Whitehouse (D-R.I.), and Ron Wyden (D-Ore.) also signed the letter.

The full text of the letter is available HERE and below:

Dear President Trump:

We write with alarm at recent actions by your Administration that put Medicare and Medicaid at risk – threatening access to care for 140 million Americans. On February 5, Elon Musk and representatives of his Department of Government Efficiency (DOGE) gained access to key payment and contracting systems at the Centers for Medicare & Medicaid Services (CMS), the agency that administers these vital programs. Masquerading as a false crusade against waste, fraud, and abuse, Musk appears intent to break the programs that seniors, people with disabilities, children, and families rely on to get their health care. We write to say no to Elon Musk and DOGE, and demand hands off Medicare or Medicaid. We strongly oppose any efforts by Musk – or anyone else in your administration – cutting or damaging these vital programs. Medicare and Medicaid must not be raided to pay for tax cuts for billionaires.

Medicare and Medicaid are lifelines for millions of Americans. In 2024, 68 million seniors and people with disabilities seniors relied on Medicare coverage for essential health care, including hospital visits, screenings for cancer, diabetes, and depression, and prescription drugs. Nearly 80 million Americans relied on Medicaid, making it the largest public health insurance program in the United States. Medicaid provides funding to states for services at nursing homes, hospitals, rural health clinics as well as home health services, addiction and mental health services, and family planning. Americans rely on Medicaid for pregnancy and childbirth, as well as long-term services and supports to care for people with disabilities, older adults, and chronically ill Americans.

But now, DOGE is invading CMS, posing immeasurable risks to Americans’ health care. DOGE representatives, with no training or expertise, could make unilateral, politically motivated decisions to target both beneficiaries and health care providers while blocking access to care and essential payments for services. Every cut risks Americans paying more, waiting longer, and wading through more insurance red tape for care. Every cut risks hospitals and community health centers struggling harder to keep their doors open and forcing health providers and workers out of their jobs.

We continue to fight for a health care system that works better for all Americans, so they experience lower costs, shorter wait times, and receive better care. But your Administration, Elon Musk, and DOGE have already made that harder. Your Administration is already responsible for the shut-down of Medicaid portals across all 50 states, disruptions to vital health care communication, closures of community health centers, and significant delays in funding for life-saving health research. Cuts to Medicare and Medicaid will only serve to deepen the harm.

It is dangerously unacceptable that an unelected Musk and his unqualified acolytes have access to sensitive CMS systems and are ready to bypass Congress to make life and death decisions affecting millions of Americans. No one asked for this lawless approach to our critical government health care systems. We urge you to stop this threat to Americans’ health care, now.

Sincerely,

MIL OSI USA News –

February 15, 2025
MIL-OSI USA: Improving Health Access Through the Black Church
Source: US State of New York

February 14, 2025

Albany, NY
Governor Kathy Hochul today announced increased funding for United Way of New York City to support the expansion of Choose Healthy Life, a program dedicated to increasing access to health services in underserved communities through the Black church. The expanded initiative will add 10 Choose Healthy Life–funded churches in New York State to the 20 existing churches in New York City, bringing critical health services and wellness programs to five New York cities: Albany, Buffalo, Newburgh, Rochester and Syracuse. The Governor announced that Choose Healthy Life is receiving nearly $5 million, a $1.5 million increase over the prior fiscal year to fund the expansion which affirms her commitment to improving health outcomes in Black communities. Additionally, the Governor proposes adding another $1 million in her FY26 Executive Budget, bringing the total funding amount to $5.9 million over the lifespan of the program.

“Black churches play an indispensable role in neighborhoods across New York State: connecting people with services and resources that enrich their lives and our communities as a whole,” Governor Hochul said. “Your family is my fight — that’s why I’m committing new funding to expand Choose Healthy Life and the critical health and wellness services they provide.”

Choose Healthy Life National Black Clergy Health Leadership Council Co-Chair Rev. Al Sharpton said, “Governor Hochul’s unwavering leadership in advancing the health and safety of New York’s most underserved neighborhoods deserves our deepest gratitude. Her partnership with Choose Healthy Life exemplifies the bold action required to save lives.”

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Governor Hochul made the announcement at Choose Healthy Life’s (CHL) Inaugural Summit which convened CHL clergy leaders, faith-based health navigators and elected officials from across New York State. The convening included the newest Upstate church pastors and navigators that are part of the expansion.

In partnership with UWNYC, the 20 CHL churches in New York City have been highly successful in addressing persistent health disparities by serving over 100,000 individuals through the Black church. Guided by the clergy, an individual is chosen from each church community and trained to serve as a full-time health navigator. These trusted health navigators have been central to successfully serving nearly 9,000 individuals for social determinants of health needs, providing over 6,000 individuals with Blueprint for Wellness screening reports documenting their health status, and generating over 900 referrals for social support services.

Choose Healthy Life was founded in 2021 amid the COVID pandemic and grew to fund 120 churches across 13 states. New York, with 30 churches, has more CHL churches than any other state.

The newly participating churches in CHL’s expanded efforts include:

Albany: Macedonia Baptist Church, Metropolitan Baptist Church

Buffalo: First Shiloh Baptist Church, True Bethel Baptist Church

Newburgh: AME Zion of Newburgh, One Accord Christian Church

Syracuse: People’s AME Zion, Tucker Missionary Baptist Church

Rochester: New Bethel CME, Zion Hill Missionary Baptist Church

Governor Hochul’s 2025 State of the State agenda is aimed at enhancing resources for families in New York, helping them build a strong foundation for their children. The Governor’s bold proposals and investments include:

putting New York on a path towards universal child care;

providing universal free school meals;

investing $110 million in child care capital funding;

advancing a nation-leading birth allowance — the New York State BABY Benefit;

expanding access to infertility treatments;

and distributing free diapers and other supplies to the families of nearly 100,000 babies.
Your family is my fight — that’s why I’m committing new funding to expand Choose Healthy Life and the critical health and wellness services they provide.”

Governor Hochul

United Way of New York City President and CEO Grace Bonilla said, “Nearly three million people in New York City, which represent half of working-age households, do not earn enough to cover their basic needs, making access to healthcare a challenge. Choose Healthy Life is a critical program that addresses this crisis, ensuring that families, especially those historically overlooked, have access to screenings, vaccinations, and early interventions that can prevent serious health issues. We are honored that our success in New York City has yielded an additional investment by Governor Hochul, allowing us to partner with our sister United Way agencies across the state to deliver health services to New Yorkers in some of the most vulnerable cities in our state. Through these services, we are working toward lasting, systemic change to create a healthier, more equitable future for all New Yorkers.”

Choose Healthy Life Founder and Board Chair Debra Fraser-Howze said, “This new chapter in Choose Healthy Life’s mission would not have been possible without the continued investment from Governor Hochul and the invaluable support of United Way of New York City. Choose Healthy Life is successful because of the strong collaboration that exists with clergy, government, and community leaders to carry forward our shared vision of healthier communities.”

Choose Healthy Life Executive Director Rev. Kimberly L. Williams said, “New York has been a shining example of what can be accomplished when you provide Black churches with the resources to bring about change. Together with Governor Hochul and United Way of New York City, we’re transforming health outcomes for underserved communities across the state. By offering free health screenings, community wellness programs, access to vaccinations, and much more, Choose Healthy Life is lifting up families and empowering individuals to take charge of their own health.”

Choose Healthy Life New York State Clergy Leader Rev. Jacques Andre DeGraff said, “The expansion of Choose Healthy Life across the state is a monumental step forward in our mission. This anointed partnership brings both the best of faith and science together ensuring that our dedicated health navigators can be effective on the front lines.”

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About United Way of New York City:

For 87 years, United Way of New York City has been at the forefront in the fight to drive equity and ensure dignity for all New Yorkers, no matter their zip code. They unite by mobilizing the best ideas, relevant data, internal and external experts and resources. United Way of New York City maximizes impact by coordinating and aligning service providers, companies, local government and New Yorkers to help families eliminate barriers and gain the agency to improve their lives for the better. To learn more, visit unitedwaynyc.org.

About Choose Healthy Life:

Choose Healthy Life (CHL) is a non-profit organization dedicated to increasing access to health services through the Black church by funding, establishing and training a trusted faith-based health navigator to educate, deliver and connect the community to much-needed health services. Founded in 2021, CHL funded 120 churches across 13 states. Since then, CHL has hosted over 9,000 events, vaccinated, tested and distributed self-test kits to over 350,000 individuals, and screened over 20,000 for comprehensive health risks. Today, CHL’s health navigators are focused on addressing the underlying lack of access to health services in their respective communities, to help individuals take control of their health. For more information, visit choosehealthylife.org.
MIL OSI USA News –
February 15, 2025

MIL-OSI: Bogota Financial Corp. Reports Results for the Three and Twelve Months Ended December 31, 2024

Source: GlobeNewswire (MIL-OSI)

TEANECK, N.J., Feb. 14, 2025 (GLOBE NEWSWIRE) — Bogota Financial Corp. (NASDAQ: BSBK) (the “Company”), the holding company for Bogota Savings Bank (the “Bank”), reported a net loss for the three months ended December 31, 2024 of $930,000 or $0.07 per basic and diluted share, compared to a net loss of $1.2 million or $0.09 per basic and diluted share for the comparable prior year period. The Company reported a net loss for the year ended December 31, 2024 of $2.2 million or $0.17 per basic and diluted share compared to net income of $643,000, or $0.05 per basic and diluted share, for the prior year.

On April 24, 2024, the Company announced it had received regulatory approval to repurchase up to 237,090 shares of its common stock, which was approximately 5% of its then outstanding common stock (excluding shares held by Bogota Financial, MHC). The program does not have a scheduled expiration date and the Board of Directors may suspend or discontinue the program at any time. As of December 31, 2024, 188,047 shares have been repurchased under this program at a cost of $1.4 million.

Other Financial Highlights:

Total assets increased $32.2 million, or 3.4%, to $971.5 million at December 31, 2024 from $939.3 million at December 31, 2023, largely due to an increase in cash and cash equivalents and other assets, offset by a decrease in net loans and premises and equipment.
Cash and cash equivalents increased $27.3 million, or 109.5%, to $52.2 million at December 31, 2024 from $24.9 million at December 31, 2023, as increases in deposits and borrowings and loan and security maturities outpaced loan growth.
Securities decreased $1.2 million, or 0.9%, to $140.3 million at December 31, 2024 from $141.5 million at December 31, 2023.
Net loans decreased $3.0 million, or 0.4%, to $711.7 million at December 31, 2024 from $714.7 million at December 31, 2023 due to decreases in residential and construction loans, offset by an increase in commercial real estate loans.
Total deposits at December 31, 2024 were $642.2 million, increasing $16.9 million, or 2.7%, as compared to $625.3 million at December 31, 2023, primarily due to a $14.7 million increase in interest-bearing deposits and by a $2.1 million increase in non-interest bearing checking accounts. The average rate paid on deposits increased 31 basis points to 3.73% for 2024 from 3.42% for 2023 due to higher interest rates and an increase in NOW accounts, which increased $14.1 million, or 34.0%, to $55.4 million at December 31, 2024 from $41.3 million at December 31, 2023. The yield on such accounts also increased 63 basis points to 2.53% for 2024 from 1.90% for 2023.
Federal Home Loan Bank advances increased $4.5 million, or 2.7% to $172.2 million at December 31, 2024 from $167.7 million as of December 31, 2023.

The Bank completed a balance sheet restructuring consisting of two key transactions in the fourth quarter of 2024. The Bank entered into a sale-leaseback transaction whereby the Bank sold three of its branch offices resulting in a $9.0 million pre-tax gain. Subsequently, the Bank realized a pre-tax loss of $8.9 million on the sale of approximately $66.0 million in amortized cost ($57.1 million in market value) of securities with a weighted average life of approximately 5.5 years and a weighted average yield of 1.89%. The Bank reinvested $32.7 million of these proceeds into securities with a weighted average life of approximately 29.6 years and a weighted average yield of 5.60%. As of December 31, 2024 all securities were classified as available for sale and marked to market.

Kevin Pace, President and Chief Executive Officer, said, “We were able to accomplish a key piece of our strategic plan this quarter. The sale-leaseback transaction gave us the ability to dispose of underperforming legacy investments without deteriorating regulatory capital. We were able to utilize this strategy to strengthen our balance sheet and improve future earnings. Reinvesting those funds in securities and loans at current market rates, as well as paying down higher cost borrowings, will provide both short- and long-term benefits.

“Uncertainty around rates continues to be a necessary consideration when planning for growth. The repositioning will help with this process while improving our net interest margin. We were able to achieve modest asset and deposit growth for the year while remaining focused on prudent lending practices. The high cost of funds, in particular in our competitive market, continued to pressure earnings. As we continue with our current stock buyback program, we remain committed to adding shareholder value.”

Income Statement Analysis

Comparison of Operating Results for the Three Months Ended December 31, 2024 and December 31, 2023

Net income increased by $248,000, or 21.0%, to a net loss of $930,000 for the three months ended December 31, 2024 from a net loss of $1.2 million for the three months ended December 31, 2023. This increase was primarily due to an increase of $1.0 million in interest income, a $1.3 million decrease in non-interest expense and a decrease of $998,000 in income tax expense, offset by a $1.5 million increase in interest expense.

Interest income increased $1.0 million, or 10.7%, from $9.6 million for the three months ended December 31, 2023 to $10.6 million for the three months ended December 31, 2024 due to higher yields on interest-earning assets and higher average balances.

Interest income on cash and cash equivalents increased $46,000, or 31.7%, to $191,000 for the three months ended December 31, 2024 from $145,000 for the three months ended December 31, 2023 due to a $4.1 million increase in the average balance to $13.5 million for the three months ended December 31, 2024 from $9.4 million for the three months ended December 31, 2023, reflecting the increase of liquidity due to lower loan originations. Due to rate cuts enacted in the third and fourth quarter of the year, the yield on cash and cash equivalents decreased 47 basis points from 6.08% for the three months ended December 31, 2023 to 5.61% for the three months ended December 31, 2024.

Interest income on loans increased $299,000, or 3.6%, to $8.5 million for the three months ended December 31, 2024 compared to $8.2 million for the three months ended December 31, 2023 due primarily to 16 basis point increase in the average yield from 4.57% for the three months ended December 31, 2023 to 4.73% for the three months ended December 31, 2024 and by a $3.0 million increase in the average balance to $717.4 million for the three months ended December 31, 2024 from $714.4 million for the three months ended December 31, 2023.

Interest income on securities increased $612,000, or 58.8%, to $1.7 million for the three months ended December 31, 2024 from $1.0 million for the three months ended December 31, 2023 primarily due to a $42.1 million increase in the average balance to $175.3 million for the three months ended December 31, 2024 from $133.2 million for the three months ended December 31, 2023 and due to a 65 basis point increase in the average yield from 3.12% for the three months ended December 31, 2023 to 3.77% for the three months ended December 31, 2024.

Interest expense increased $1.5 million, or 22.1%, from $6.6 million for the three months ended December 31, 2023 to $8.1 million for the three months ended December 31, 2024 due to higher costs on interest-bearing liabilities and by a $58.9 million increase in the average balance of interest-bearing liabilities from $747.0 million for the three months ended December 31, 2023 to $805.9 million for the three months ended December 31, 2024. During the three months ended December 31, 2024, the use of the cash flow hedges reduced the interest expense by $280,000.

Interest expense on interest-bearing deposits increased $954,000, or 18.2%, to $6.2 million for the three months ended December 31, 2024 from $5.2 million for the three months ended December 31, 2023. The increase was due to a 61 basis point increase in the average cost of deposits to 4.02% for the three months ended December 31, 2024 from 3.41% for the three months ended December 31, 2023. The increase in the average cost of deposits was due to the higher interest rate environment. The average balances of certificates of deposit increased $4.7 million to $501.8 million for the three months ended December 31, 2024 from $497.1 million for the three months ended December 31, 2023 while NOW and money market accounts and savings accounts decreased $148,000 and $430,000 for the three months ended December 31, 2024, respectively, compared to the three months ended December 31, 2023.

Interest expense on Federal Home Loan Bank borrowings increased $513,000, or 37.1%, from $1.4 million for the three months ended December 31, 2023 to $1.9 million for the three months ended December 31, 2024. The increase was due to an increase in the average balance of borrowings of $54.8 million to $192.2 million for the three months ended December 31, 2024 from $137.4 million for the three months ended December 31, 2023, which was partially offset by a decrease in the average cost of 7 basis points to 3.92% for the three months ended December 31, 2024 from 3.99% for the three months ended December 31, 2023 as new borrowings in the second half of the year were at slightly lower rates. At December 31, 2024, cash flow hedges used to manage interest rate risk had a notional value of $65.0 million, while fair value hedges totaled $60.0 million in notional value.

Net interest income decreased $439,000, or 14.9%, to $2.5 million for the three months ended December 31, 2024 from $2.9 million for the three months ended December 31, 2023. The decrease reflected a 27 basis point decrease in our net interest rate spread to 0.61% for the three months ended December 31, 2024 from 0.88% for the three months ended December 31, 2023. Our net interest margin decreased 26 basis points to 1.09% for the three months ended December 31, 2024 from 1.35% for the three months ended December 31, 2023.

We recorded a $218,000 recovery for credit losses for the three months ended December 31, 2024 compared to a no provision for credit losses for the three-month period ended December 31, 2023. The recovery in the fourth quarter of 2024 reflects the decrease in the loan and securities portfolio.

Non-interest income increased by $136,000, or 48.2%, to $419,000 for the three months ended December 31, 2024 from $283,000 for the three months ended December 31, 2023. Bank-owned life insurance income increased $16,000, or 7.7%, due to higher balances during 2024. Gain on sale of assets was $74,000 as proceeds from the sale-leaseback transaction exceeded the loss on securities.

For the three months ended December 31, 2024, non-interest expense decreased $1.3 million, or 26.9%, over the comparable December 31, 2023 period. Salaries and employee benefits decreased $776,000, or 25.2%, due to lower headcount. Professional fees decreased $141,000, or 56.9% due to lower legal costs in 2024. FDIC insurance premiums increased $12,000, or 12.1%, due to a higher assessment rate in 2024. Data processing expense increased $23,000, or 9.3%, due to higher processing costs. Director fees increased $14,000, or 9.9%, due to higher pension expense. The decrease in advertising expense of $35,000, or 36.4%, was due to reduced promotions for branch locations and less promotions on deposit and loan products. Other expense decreased $456,000, or 68.2%, as 2023 expenses were elevated due to a pending fraud claim that was under review with the insurance company.

Income tax expense increased $998,000, or 182.1%, to an expense of $450,000 for the three months ended December 31, 2024 from a benefit of $548,000 for the three months ended December 31, 2023. The increase was due to tax reserves on uncertain deferred tax assets.

Comparison of Operating Results for the Twelve Months Ended December 31, 2024 and December 31, 2023

Net income decreased by $2.8 million, or 437.8%, to a net loss of $2.2 million for the twelve months ended December 31, 2024 from net income of $643,000 for the twelve months ended December 31, 2023. This decrease was primarily due to a decrease of $4.4 million in net interest income, offset by a decrease of $1.2 million in non-interest expense and by an increase of $209,000 in non-interest income and $209,000 in income tax benefit.

Interest income increased $4.4 million, or 12.0%, from $37.3 million for the twelve months ended December 31, 2023 to $41.7 million for the twelve months ended December 31, 2024 due to increases in the average balances of and higher yields on interest-earning assets.

Interest income on cash and cash equivalents increased $38,000, or 6.7%, to $606,000 for the twelve months ended December 31, 2024 from $568,000 for the twelve months ended December 31, 2023 due to a 71 basis point increase in the average yield from 5.23% for the twelve months ended December 31, 2023 to 5.94% for the twelve months ended December 31, 2024 due to the higher interest rate environment for most of 2024. This was offset by a $671,000 decrease in the average balance to $10.2 million for the twelve months ended December 31, 2024 from $10.9 million for the twelve months ended December 31, 2023, reflecting the use of excess liquidity primarily to fund securities purchases.

Interest income on loans increased $1.4 million, or 4.3%, to $33.4 million for the twelve months ended December 31, 2024 compared to $32.0 million for the twelve months ended December 31, 2023 due primarily to a 20 basis point increase in the average yield from 4.49% for the twelve months ended December 31, 2023 to 4.69% for the twelve months ended December 31, 2024. The increase was offset by a $661,000 decrease in the average balance to $713.1 million for the twelve months ended December 31, 2024 from $713.8 million for the twelve months ended December 31, 2023.

Interest income on securities increased $2.7 million, or 66.7%, to $6.9 million for the twelve months ended December 31, 2024 from $4.2 million for the twelve months ended December 31, 2023 due to a 101 basis point increase in the average yield from 2.87% for the twelve months ended December 31, 2023 to 3.88% for the twelve months ended December 31, 2024 and by a $33.8 million increase in the average balance of securities to $178.7 million for the twelve months ended December 31, 2024 from $144.9 million for the twelve months ended December 31, 2023.

Interest expense increased $8.9 million, or 39.9%, from $22.3 million for the twelve months ended December 31, 2023 to $31.2 million for the twelve months ended December 31, 2024 due to increases in the average balance of and higher costs on interest-bearing liabilities. During the twelve months ended December 31, 2024, the use of the cash flow hedges reduced the interest expense on the Federal Home Loan Bank advances by $1.5 million.

Interest expense on interest-bearing deposits increased $6.6 million, or 36.4%, to $24.6 million for the twelve months ended December 31, 2024 from $18.0 million for the twelve months ended December 31, 2023. The increase was due to a 112 basis point increase in the average cost of interest-bearing deposits to 3.97% for the twelve months ended December 31, 2024 from 2.85% for the twelve months ended December 31, 2023, offset by a $12.3 million decrease in the average balance of interest-bearing deposits. The increase in the average cost of deposits was due to the higher interest rate environment and a change in the composition of the deposit portfolio. The average balances of certificates of deposit increased $10.2 million to $508.3 million for the twelve months ended December 31, 2024 from $498.1 million for the twelve months ended December 31, 2023 while NOW and money market accounts and savings accounts decreased $18.1 million and $4.4 million for the twelve months ended December 31, 2024, respectively, compared to the twelve months ended December 31, 2023.

Interest expense on Federal Home Loan Bank borrowings increased $2.3 million, or 54.4%, from $4.3 million for the twelve months ended December 31, 2023 to $6.6 million for the twelve months ended December 31, 2024. The increase was due to an increase in the average balance of borrowings of $59.2 million to $176.0 million for the twelve months ended December 31, 2024 from $116.8 million for the twelve months ended December 31, 2023. The increase was due to an increase in the average cost of 9 basis points to 3.76% for the twelve months ended December 31, 2024 from 3.67% for the twelve months ended December 31, 2023 due to the new borrowings at higher rates. At December 31, 2024, cash flow hedges used to manage interest rate risk had a notional value of $65.0 million, while fair value hedges totaled $60.0 million in notional value.

Net interest income decreased $4.4 million, or 29.5%, to $10.6 million for the twelve months ended December 31, 2024 from $15.0 million for the twelve months ended December 31, 2023. The decrease reflected a 62 basis point decrease in our net interest rate spread to 0.66% for the twelve months ended December 31, 2024 from 1.28% for the twelve months ended December 31, 2023. Our net interest margin decreased 55 basis points to 1.16% for the twelve months ended December 31, 2024 from 1.71% for the twelve months ended December 31, 2023.

We recorded a $148,000 recovery of credit losses for the twelve months ended December 31, 2024 compared to a $125,000 recovery for credit losses for the twelve-month period ended December 31, 2023 which reflected a decrease in the loan and securities portfolios, as well as no charge-offs during the years. This recovery was inclusive of the effect due to the transfer of certain securities from the held to maturity portfolio to the available for sale portfolio, which resulted in a $108,000 recovery for credit losses.

Non-interest income increased by $209,000, or 18.4%. Gain on sale of assets increased $74,000 while fee and service charged income increased $22,000 or 10.6%, and income related to bank owned life insurance increased $90,000, or 11.5%, due to higher balances during 2024.

For the twelve months ended December 31, 2024, non-interest expense decreased $1.2 million, or 7.4%, compared to the twelve months ended December 31, 2023. Salaries and employee benefits decreased $1.1 million, or 10.9%, as 2023 amounts included an accrual of a severance contract for the retirement of the previous President and a higher employee count when compared to 2024. Professional fees increased $129,000 or 19.5%, due to higher legal expense. Data processing increased $234,000, or 24.1%, due to higher processing costs. Other expense decreased $369,000, or 27.8%, as 2023 amounts included charges for a pending fraud claim that is under review with the insurance company.

Income tax benefit increased $209,000, or 129.1%, to a benefit of $372,000 for the twelve months ended December 31, 2024 from a benefit of $162,000 for the twelve months ended December 31, 2023. The increase in benefit was due to $3.0 million, or 629.2%, of lower taxable income. The effective tax rate for the twelve months ended December 31, 2024 and December 31, 2023 was (14.62%) and (33.76%), respectively. The benefit would have been higher but there were valuation reserves on certain deferred tax assets as of December 31, 2024.

Balance Sheet Analysis

Total assets were $971.5 million at December 31, 2024, representing an increase of $32.2 million, or 3.4%, from December 31, 2023. Cash and cash equivalents increased $27.3 million during the period primarily due to loan payments received and growth in deposits and borrowings. Net loans decreased $3.0 million, or 0.4%, due to $63.8 million in repayments, partially offset by new production of $61.2 million. Due to the interest rate environment, we have seen a decrease in demand for residential and construction loans, which have been primary drivers of our loan growth in recent periods. Securities held to maturity were reclassified to securities available for sale which decreased an aggregate $1.2 million or 0.9%, due to the repayments of mortgage-backed securities and maturities of corporate bonds. Right of use assets increased $10.8 million due to new right-of-use lease assets recognized as part of the sale-leaseback transaction.

Delinquent loans increased $1.7 million to $14.3 million, or 2.01% of total loans, at December 31, 2024. The increase was mostly due to one commercial real estate loan with a balance of $755,000 and two residential mortgages totaling $653,000, all of which are classified as nonaccrual. During the same timeframe, non-performing assets increased to $14.0 million and were 1.44% of total assets at December 31, 2024. The Company’s allowance for credit losses was 0.37% of total loans and 18.77% of non-performing loans at December 31, 2024 compared to 0.39% of total loans and 21.81% of non-performing loans at December 31, 2023. At that date, $10.9 million, or 76.0%, of the total non-performing loans consisted of one construction loan with a loan-to-value of 45%, which required no specific reserve. The Bank does not have any exposure to commercial real estate loans secured by office space.

Total liabilities increased $32.0 million, or 4.0%, to $834.2 million mainly due to a $16.8 million increase in deposits and by a $4.5 million increase in borrowings. Lease liabilities also increased $10.8 million due to new lease liabilities recognized as part of the sale-leaseback transaction. Total deposits increased $16.9 million, or 2.7%, to $642.2 million at December 31, 2024 from $625.3 million at December 31, 2023. The increase in deposits reflected increases in NOW, money market and savings accounts, which increased by $14.7 million from $101.5 million at December 31, 2023 to $116.2 million at December 31, 2024 and by an increase in non-interest bearing accounts, which increased by $2.1 million to $32.7 million from $30.6 million at December 31, 2023. At December 31, 2024, brokered deposits were $101.6 million or 15.8% of deposits and municipal deposits were $30.7 million or 4.8% of deposits. At December 31, 2024, uninsured deposits represented 6.9% of the Bank’s total deposits. Federal Home Loan Bank advances increased $4.5 million, or 2.7%. Total borrowing capacity at the Federal Home Loan Bank is $280.4 million, of which $172.2 million is advanced.

Total stockholders’ equity increased $116,000 to $137.3 million, which was largely unchanged from last year. The increase was due to a reduction in the accumulated other comprehensive loss on the securities portfolio of $2.9 million, offset by a net loss of $2.2 million and the repurchase of 221,130 shares of stock at a total cost of $1.7 million. At December 31, 2024, the Company’s ratio of average stockholders’ equity-to-average total assets was 14.10%, compared to 14.89% at December 31, 2023.

About Bogota Financial Corp.

Bogota Financial Corp. is a Maryland corporation organized as the mid-tier holding company of Bogota Savings Bank and is the majority-owned subsidiary of Bogota Financial, MHC. Bogota Savings Bank is a New Jersey chartered stock savings bank that has served the banking needs of its customers in northern and central New Jersey since 1893. It operates from seven offices located in Bogota, Hasbrouck Heights, Newark, Oak Ridge, Parsippany, Teaneck and Upper Saddle River, New Jersey and operates a loan production office in Spring Lake, New Jersey.

Forward-Looking Statements

This press release contains certain forward-looking statements about the Company and the Bank. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, inflation, general economic conditions or conditions within the securities markets, potential recessionary conditions, real estate market values in the Bank’s lending area, changes in liquidity, including the size and composition of our deposit portfolio, including the percentage of uninsured deposits in the portfolio; changes in the quality of our loan and security portfolios, increases in non-performing and classified loans, monetary and fiscal policies of the U.S. Government including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, the imposition of tariffs or other domestic or international governmental policies, a failure in or breach of the Company’s operational or security systems or infrastructure, including cyberattacks, the failure to maintain current technologies, failure to retain or attract employees and legislative, accounting and regulatory changes that could adversely affect the business in which the Company and the Bank are engaged.

The Company undertakes no obligation to revise these forward-looking statements or to reflect events or circumstances after the date of this press release.


BOGOTA FINANCIAL CORP. CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (unaudited)

	As of December 31, 2024			As of December 31, 2023
ASSETS
Cash and due from banks	$	18,020,527		$	13,567,115
Interest-bearing deposits in other banks		34,211,681			11,362,356
Cash and cash equivalents		52,232,208			24,929,471

Securities available for sale		140,307,447			68,888,179
Securities held to maturity (fair value of $70,699,651 at December 31, 2023)		–			72,656,179
Loans, net of allowance $2,620,949 and $2,785,949, respectively		711,716,236			714,688,635
Premises and equipment, net		4,727,302			7,687,387
Federal Home Loan Bank (“FHLB”) stock		8,803,000			8,616,100
Accrued interest receivable		4,232,563			3,932,785
Core deposit intangibles		152,893			206,116
Bank owned life insurance		31,859,604			30,987,851
Right of use asset		10,776,596			–
Other assets		6,682,035			6,731,500
Total assets	$	971,489,884		$	939,324,203

LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities
Deposits
Non-interest bearing	$	32,681,963		$	30,554,842
Interest bearing		609,506,079			594,792,300
		642,188,042			625,347,142

FHLB advances-short term		29,500,000			37,500,000
FHLB advances-long term		142,673,182			130,189,663
Advance payments by borrowers for taxes and insurance		2,809,205			2,733,709
Lease liability		10,780,363			–
Other liabilities		6,249,932			6,380,486
Total liabilities		834,200,724			802,151,000

Stockholders’ Equity
Preferred stock $0.01 par value 1,000,000 shares authorized, none issued and outstanding at December 31, 2024, and 2023		—			—
Common stock $0.01 par value, 30,000,000 shares authorized, 13,059,175 issued and outstanding at December 31, 2024 and 13,279,230 at December 31, 2023		130,591			132,792
Additional Paid-In capital		55,269,962			56,149,915
Retained earnings		90,006,649			92,177,068
Unearned ESOP shares (382,933 shares at December 31, 2024 and 409,750 shares at December 31, 2023)		(4,520,594	)		(4,821,798	)
Accumulated other comprehensive loss		(3,597,448	)		(6,464,774	)
Total stockholders’ equity		137,289,160			137,173,203
Total liabilities and stockholders’ equity	$	971,489,884		$	939,324,203


BOGOTA FINANCIAL CORP. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

	Three Months Ended						Year Ended
	December 31,						December 31,
	2024			2023			2024			2023
Interest income
Loans	$	8,522,844		$	8,224,488		$	33,411,221		$	32,046,033
Securities
Taxable		1,641,126			1,027,755			6,888,462			4,070,144
Tax-exempt		11,483			13,135			50,892			91,428
Other interest-earning assets		418,634			300,656			1,399,170			1,072,240
Total interest income		10,594,087			9,566,034			41,749,745			37,279,845
Interest expense
Deposits		6,200,367			5,245,865			24,584,690			18,023,772
FHLB advances		1,894,789			1,382,244			6,613,845			4,282,603
Total interest expense		8,095,156			6,628,109			31,198,535			22,306,375
Net interest income		2,498,931			2,937,925			10,551,210			14,973,470
Provision (credit) for credit losses		(218,000	)		—			(148,000	)		(125,000	)
Net interest income after provision (credit) for credit losses		2,716,931			2,937,925			10,699,210			15,098,470
Non-interest income
Fees and service charges		64,285			47,382			228,685			206,763
Gain on sale of loans		20,232			—			31,942			29,375
Gain on sale of properties		9,005,245			—			9,005,245			—
Loss on sale of securities		(8,930,843	)		—			(8,930,843	)		—
Bank-owned life insurance		223,616			207,453			871,753			781,526
Other		36,202			27,711			141,622			121,371
Total non-interest income		418,737			282,546			1,348,404			1,139,035
Non-interest expense
Salaries and employee benefits		2,345,404			3,082,176			8,750,350			9,820,128
Occupancy and equipment		348,778			359,937			1,467,517			1,474,107
FDIC insurance assessment		110,464			98,525			424,090			418,215
Data processing		274,889			251,485			1,203,181			969,398
Advertising		60,840			95,681			371,790			465,064
Director fees		155,699			141,639			622,799			619,650
Professional fees		107,129			248,526			789,646			661,045
Other		212,632			668,220			960,230			1,329,520
Total non-interest expense		3,615,835			4,946,189			14,589,603			15,757,127
(Loss) income before income taxes		(480,167	)		(1,725,718	)		(2,541,989	)		480,378
Income tax (benefit) expense		449,834			(547,958	)		(371,569	)		(162,157	)
Net (loss) income	$	(930,001	)	$	(1,177,760	)	$	(2,170,420	)	$	642,535
Earnings (loss) per Share – basic	$	(0.07	)	$	(0.09	)	$	(0.17	)	$	0.05
Earnings (loss) per Share – diluted	$	(0.07	)	$	(0.09	)	$	(0.17	)	$	0.05
Weighted average shares outstanding – basic		12,686,765			12,767,410			12,767,628			12,891,847
Weighted average shares outstanding – diluted		12,686,765			12,767,410			12,767,628			12,891,847


BOGOTA FINANCIAL CORP. SELECTED RATIOS (unaudited)

	At or For the Three Months Ended December 31,						At or For the Twelve Months Ended December 31,
	2024			2023			2024			2023
Performance Ratios ⁽¹⁾:
(Loss) return on average assets (2)		(0.09	)%		(0.51	)%		(0.22	)%		0.07	%
(Loss) return on average equity (3)		(0.68	)%		(3.43	)%		(1.59	)%		0.46	%
Interest rate spread ⁽⁴⁾		0.61	%		0.88	%		0.66	%		1.28	%
Net interest margin ⁽⁵⁾		1.09	%		1.35	%		1.16	%		1.71	%
Efficiency ratio ⁽⁶⁾		123.93	%		153.59	%		122.61	%		97.04	%
Average interest-earning assets to average interest-bearing liabilities		113.67	%		115.71	%		114.48	%		116.95	%
Net loans to deposits		110.83	%		114.29	%		110.83	%		114.29	%
Equity to assets ⁽⁷⁾		13.99	%		14.94	%		14.10	%		14.89	%
Capital Ratios:
Tier 1 capital to average assets								13.34	%		15.24	%
Asset Quality Ratios:
Allowance for credit losses as a percent of total loans								0.37	%		0.39	%
Allowance for credit losses as a percent of non-performing loans								18.77	%		21.81	%
Net charge-offs to average outstanding loans during the period								0.00	%		0.00	%
Non-performing loans as a percent of total loans								1.95	%		1.79	%
Non-performing assets as a percent of total assets								1.44	%		1.36	%

(1	)	Certain performance ratios for the three-month periods are annualized.
(2	)	Represents net income divided by average total assets.
(3	)	Represents net income divided by average stockholders’ equity.
(4	)	Represents the difference between the weighted average yield on average interest-earning assets and the weighted average cost of average interest-bearing liabilities. Tax exempt income is reported on a tax equivalent basis using a combined federal and state marginal tax rate of 27.5%.
(5	)	Represents net interest income as a percent of average interest-earning assets. Tax exempt income is reported on a tax equivalent basis using a combined federal and state marginal tax rate of 27.5% for 2024 and 2023.
(6	)	Represents non-interest expenses divided by the sum of net interest income and non-interest income.
(7	)	Represents average stockholders’ equity divided by average total assets.

LOANS

Loans are summarized as follows at December 31, 2024 and December 31, 2023:

	December 31,			December 31,
	2024			2023
Real estate:		(unaudited)
Residential First Mortgage	$	472,747,542		$	486,052,422
Commercial Real Estate		118,008,866			99,830,514
Multi-Family Real Estate		74,152,418			75,612,566
Construction		43,183,657			49,302,040
Commercial and Industrial		6,163,747			6,658,370
Consumer		80,955			18,672
Total loans		714,337,185			717,474,584
Allowance for credit losses		(2,620,949	)		(2,785,949	)
Net loans	$	711,716,236		$	714,688,635

The following tables set forth the distribution of total deposit accounts, by account type, at the dates indicated (unaudited).

	At December 31,
	2024								2023
	Amount		Percent			Average Rate			Amount		Percent			Average Rate
	(Dollars in thousands)
Noninterest bearing demand accounts	$	32,681,963		5.09	%		—	%	$	30,554,842		4.89	%		—	%
NOW accounts		55,048,614		8.62			2.53			41,320,723		6.61			1.90
Money market accounts		24,578,021		2.18			0.58			14,641,846		2.34			0.30
Savings accounts		47,001,817		7.3			1.90			45,554,964		7.28			1.76
Certificates of deposit		482,877,627		76.81			4.37			493,274,767		78.88			4.00
Total	$	642,188,042		100.00	%		3.73	%	$	625,347,142		100.00	%		3.42	%

Average Balance Sheets and Related Yields and Rates

The following tables present information regarding average balances of assets and liabilities, the total dollar amounts of interest income and dividends from average interest-earning assets, the total dollar amounts of interest expense on average interest-bearing liabilities, and the resulting annualized average yields and costs. The yields and costs for the periods indicated are derived by dividing income or expense by the average balances of assets or liabilities, respectively, for the periods presented. Average balances have been calculated using daily balances. Nonaccrual loans are included in average balances only. Loan fees are included in interest income on loans and are not material.

	Three Months Ended December 31,
	2024								2023
	Average			Interest and		Yield/			Average			Interest and		Yield/
	Balance			Dividends		Cost ⁽³⁾			Balance			Dividends		Cost ⁽³⁾
	(Dollars in thousands)
	(unaudited)
Assets:
Cash and cash equivalents	$	13,547		$	191		5.61	%	$	9,433		$	145		6.08	%
Loans		717,433			8,523		4.73	%		714,380			8,224		4.57	%
Securities		175,308			1,653		3.77	%		133,241			1,041		3.12	%
Other interest-earning assets		9,711			227		9.37	%		7,216			156		8.70	%
Total interest-earning assets		915,999			10,594		4.61	%		864,270			9,566		4.40	%
Non-interest-earning assets		63,511								56,543
Total assets	$	979,510							$	920,813
Liabilities and equity:
NOW and money market accounts	$	67,362		$	366		2.16	%	$	67,510		$	310		1.82	%
Savings accounts		44,425			213		1.91	%		44,855			205		1.81	%
Certificates of deposit		501,875			5,621		4.46	%		497,147			4,731		3.78	%
Total interest-bearing deposits		613,662			6,200		4.02	%		609,512			5,246		3.41	%
Federal Home Loan Bank advances ⁽¹⁾		192,196			1,895		3.92	%		137,445			1,382		3.99	%
Total interest-bearing liabilities		805,858			8,095		4.00	%		746,957			6,628		3.52	%
Non-interest-bearing deposits		32,734								34,835
Other non-interest-bearing liabilities		3,837								1,454
Total liabilities		842,429								783,246
Total equity		137,081								137,567
Total liabilities and equity	$	979,510							$	920,813
Net interest income				$	2,499							$	2,938
Interest rate spread ⁽²⁾							0.61	%							0.88	%
Net interest margin ⁽³⁾							1.09	%							1.35	%
Average interest-earning assets to average interest-bearing liabilities		113.67	%							115.71	%

1.	Cash flow hedges are used to manage interest rate risk. During the three months ended December 31, 2024, the net effect on interest expense on the Federal Home Loan Bank advances was a reduced expense of $280,000.
2.	Interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.
3.	Net interest margin represents net interest income divided by average total interest-earning assets.

	Twelve Months Ended December 31,
	2024								2023
	Average			Interest and		Yield/			Average			Interest and		Yield/
	Balance			Dividends		Cost ⁽³⁾			Balance			Dividends		Cost ⁽³⁾
	(Dollars in thousands)
	(unaudited)
Assets:
Cash and cash equivalents	$	10,197		$	606		5.94	%	$	10,868		$	568		5.23	%
Loans		713,138			33,412		4.69	%		713,799			32,046		4.49	%
Securities		178,684			6,939		3.88	%		144,880			4,162		2.87	%
Other interest-earning assets		9,106			793		8.71	%		6,389			504		7.89	%
Total interest-earning assets		911,125			41,750		4.58	%		875,936			37,280		4.26	%
Non-interest-earning assets		59,511								54,925
Total assets	$	970,636							$	930,861
Liabilities and equity:
NOW and money market accounts	$	67,561		$	1,359		2.01	%	$	85,663		$	1,399		1.63	%
Savings accounts		43,975			821		1.87	%		48,351			580		1.20	%
Certificates of deposit		508,327			22,405		4.41	%		498,129			16,045		3.22	%
Total interest-bearing deposits		619,863			24,585		3.97	%		632,143			18,024		2.85	%
Federal Home Loan Bank advances ⁽¹⁾		175,997			6,614		3.76	%		116,816			4,283		3.67	%
Total interest-bearing liabilities		795,860			31,199		3.92	%		748,959			22,307		2.98	%
Non-interest-bearing deposits		31,572								38,636
Other non-interest-bearing liabilities		6,303								4,627
Total liabilities		833,735								792,222
Total equity		136,901								138,639
Total liabilities and equity	$	970,636							$	930,861
Net interest income				$	10,551							$	14,973
Interest rate spread ⁽²⁾							0.66	%							1.28	%
Net interest margin ⁽³⁾							1.16	%							1.71	%
Average interest-earning assets to average interest-bearing liabilities		114.48	%							116.95	%

1.	Cash flow hedges are used to manage interest rate risk. During the twelve months ended December 31, 2024, the net effect on interest expense on the Federal Home Loan Bank advances was a reduced expense of $1.5 million.
2.	Interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.
3.	Net interest margin represents net interest income divided by average total interest-earning assets.

Rate/Volume Analysis

The following table sets forth the effects of changing rates and volumes on net interest income. The rate column shows the effects attributable to changes in rate (changes in rate multiplied by prior volume). The volume column shows the effects attributable to changes in volume (changes in volume multiplied by prior rate). The net column represents the sum of the prior columns. Changes attributable to changes in both rate and volume that cannot be segregated have been allocated proportionally based on the changes due to rate and the changes due to volume.

	Three Months Ended December 31,									Twelve Months Ended December 31,
	2024 Compared to Three									2024 Compared to Twelve Months
	Months Ended December 31, 2023									Ended December 31, 2023
	Increase (Decrease) Due to									Increase (Decrease) Due to
	Volume			Rate			Net			Volume			Rate			Net
	(In thousands)
	(unaudited)
Interest income:
Cash and cash equivalents	$	114		$	(68	)	$	46		$	(37	)	$	75		$	38
Loans receivable		33			266			299			(30	)		1,396			1,366
Securities		369			243			612			1,108			1,669			2,777
Other interest earning assets		58			13			71			232			57			289
Total interest-earning assets		574			454			1,028			1,273			3,197			4,470
Interest expense:
NOW and money market accounts		(5	)	$	61		$	56			(328	)		288			(40	)
Savings accounts		(12	)		20			8			(57	)		298			241
Certificates of deposit		45			845			890			335			6,025			6,360
Federal Home Loan Bank advances		676			(163	)		513			2,221			110			2,331
Total interest-bearing liabilities		704			763			1,467			2,171			6,721			8,892
Net decrease in net interest income	$	(130	)	$	(309	)	$	(439	)	$	(898	)	$	(3,524	)	$	(4,422	)

Contacts
Kevin Pace – President & CEO, 201-862-0660 ext. 1110

The MIL Network –

February 15, 2025

MIL-OSI: Fitch Affirms Iceland at ‘A’; Outlook Stable

Source: GlobeNewswire (MIL-OSI)

Fitch Ratings has affirmed Iceland’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘A’ with a Stable Outlook.

Iceland’s ‘A’ rating is underpinned by very high income per capita and governance indicators akin to ‘AAA’ and ‘AA’ category sovereigns. Strong fundamentals include sizeable pension fund assets, a sound banking sector, and resilient private sector balance sheets. Ample foreign reserves help mitigate Iceland’s external vulnerabilities. The rating remains constrained by Iceland’s small economy with limited export diversification.

Increased confidence in a sharp and sustained decline in the government debt-to-GDP ratio and higher trend growth and/or evidence of economic diversification that reduces Iceland’s vulnerability to external shocks, could lead to a positive rating action.

A marked deterioration in the debt-to-GDP ratio, from a sustained period of fiscal loosening and a severe economic shock, for example, due to a sharp correction in the real estate market, could lead to a negative rating action.

Further information on www.government.is

The MIL Network –

February 15, 2025
MIL-OSI: Fundamental Global Inc. Declares Cash Dividend on Its 8.00% Cumulative Preferred Stock, Series A

Source: GlobeNewswire (MIL-OSI)

Mooresville, NC, Feb. 14, 2025 (GLOBE NEWSWIRE) — Fundamental Global Inc. (Nasdaq: FGF) (the “Company” or “Fundamental Global”) today announced that it has declared a quarterly cash dividend on its 8.00% Cumulative Preferred Stock, Series A (the “Preferred Stock”), for the period commencing on December 15, 2024, and ending on March 14, 2025.

In accordance with the terms of the Preferred Stock, the board of directors of the Company declared a Preferred Stock cash dividend of $0.50 per share for the period commencing on December 15, 2024, and ending on March 14, 2025. The dividend is payable on March 17, 2025, to holders of record on March 3, 2025. The Preferred Stock is currently listed on the Nasdaq Stock Market and trades under the ticker symbol “FGFPP”.

Fundamental Global Inc.

Fundamental Global Inc. (Nasdaq: FGF, FGFPP) and its subsidiaries engage in diverse business activities including reinsurance, asset management, merchant banking, and managed services.

The FG^® logo and Fundamental Global^® are registered trademarks of Fundamental Global LLC.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements are therefore entitled to the protection of the safe harbor provisions of these laws. These statements may be identified by the use of forward-looking terminology such as “anticipate,” “believe,” “budget,” “can,” “contemplate,” “continue,” “could,” “envision,” “estimate,” “expect,” “evaluate,” “forecast,” “goal,” “guidance,” “indicate,” “intend,” “likely,” “may,” “might,” “outlook,” “plan,” “possibly,” “potential,” “predict,” “probable,” “probably,” “pro-forma,” “project,” “seek,” “should,” “target,” “view,” “will,” “would,” “will be,” “will continue,” “will likely result” or the negative thereof or other variations thereon or comparable terminology. In particular, discussions and statements regarding the Company’s future business plans and initiatives are forward-looking in nature. We have based these forward-looking statements on our current expectations, assumptions, estimates, and projections. While we believe these to be reasonable, such forward-looking statements are only predictions and involve a number of risks and uncertainties, many of which are beyond our control. These and other important factors may cause our actual results, performance, or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements, and may impact our ability to implement and execute on our future business plans and initiatives. Management cautions that the forward-looking statements in this release are not guarantees of future performance, and we cannot assume that such statements will be realized or the forward-looking events and circumstances will occur. Factors that might cause such a difference include, without limitation: risks associated with our inability to identify and realize business opportunities, and the undertaking of any new such opportunities; our lack of operating history or established reputation in the reinsurance industry; our inability to obtain or maintain the necessary approvals to operate reinsurance subsidiaries; risks associated with operating in the reinsurance industry, including inadequately priced insured risks, credit risk associated with brokers we may do business with, and inadequate retrocessional coverage; our inability to execute on our equity holdings and asset management strategy, including our strategy to invest in the risk capital of special purpose acquisition companies (SPACs); our ability to maintain and expand our revenue streams including our digital cinema products and installation services; potential interruptions of supplier relationships or higher prices charged by suppliers; our ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments; our ability to maintain our d reputation and retain or replace significant customers; the potential impact of a challenging global economic environment or a downturn in the markets; the effects of economic, public health, and political conditions that impact business and consumer confidence and spending, including rising interest rates, periods of heightened inflation and market instability; potential loss of value of equity holdings; risk of becoming an investment company; fluctuations in our short-term results as we implement our business strategies; risks of being unable to attract and retain qualified management and personnel to implement and execute on our business and growth strategy; failure of our information technology systems, data breaches and cyber-attacks; our ability to establish and maintain an effective system of internal controls;; the requirements of being a public company and losing our status as a smaller reporting company or becoming an accelerated filer; any potential conflicts of interest or different interests between us and our stockholders; potential conflicts of interest between us and our directors and executive officers; risks associated with our related party transactions and equity holdings; and risks associated with our investments in SPACs, including the failure of any such SPAC to complete its initial business combination. Our expectations and future plans and initiatives may not be realized. If one of these risks or uncertainties materializes, or if our underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. You are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements are made only as of the date hereof and do not necessarily reflect our outlook at any other point in time. We do not undertake and specifically decline any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect new information, future events or developments.

Investor Contact:

investors@fundamentalglobal.com

The MIL Network –

February 15, 2025
MIL-OSI United Kingdom: Statement from the Attorney General on the case of Axel Rudakubana
Source: United Kingdom – Executive Government & Departments

The Attorney General Lord Hermer KC has released a statement following a request to review Axel Rudakubana’s sentence under the Unduly Lenient Sentence scheme.
The Attorney General Lord Hermer KC said:

The senseless and barbaric murder of three young girls in Southport last summer shocked our nation.

No words come anywhere close to expressing the brutality and horror in this case.

It was understandable that we received multiple requests to review the sentence under the Unduly Lenient Sentence scheme – which is designed to identify and remedy gross errors made by judges.

After careful consideration of independent legal advice and consultation with leading criminal barristers and the Crown Prosecution Service, I have concluded that this case cannot properly be referred to the Court of Appeal.

No one would want the families to be put through an unnecessary further court process where there is no realistic legal basis for an increased sentence.

The 52-year sentence imposed by the judge was the second longest sentence imposed by the courts in English history.

Rudakubana will likely never be released and will spend the rest of his life in jail.

The Government have set out the next steps that must now take place to ensure that these awful murders will be a line in the sand.

My thoughts today are with the friends and families of Bebe, Elsie, and Alice, as well as the other victims – your memories will not be forgotten.

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Updates to this page

Published 14 February 2025
MIL OSI United Kingdom –
February 15, 2025
MIL-OSI USA: Kennedy, Thune, colleagues introduce bill to permanently repeal the death tax

US Senate News:

Source: United States Senator John Kennedy (Louisiana)

MADISONVILLE, La. – Sen. John Kennedy (R-La.), a member of the Senate Banking Committee, joined Senate Majority Leader John Thune (R-S.D.) and 44 other colleagues in introducing the Death Tax Repeal Act to end the federal estate tax for Americans.

Current law requires Americans to pay the federal estate tax when a property, business or land is transferred to them after an individual passes away.

“The government shouldn’t discourage Louisiana’s farmers or landowners from keeping family businesses alive when a person passes away. I’m proud to join my colleagues in introducing the Death Tax Repeal Act to support America’s family-run businesses,” said Kennedy.

“Family farms and ranches play a vital role in our economy and are the lifeblood of rural communities in South Dakota. Losing even one of them to the death tax is one too many. It’s time to put an end to this punishing, burdensome tax once and for all so that family farms, ranches and small businesses can grow and thrive without costly estate planning or massive tax burdens that can threaten their viability,” said Thune.

Sens. Jim Banks (R-Ind.), John Barrasso (R-Wyo.), Marsha Blackburn (R-Tenn.), John Boozman (R-Ark.), Katie Britt (R-Ala.), Ted Budd (R-N.C.), Shelley Moore Capito (R-W.Va.), John Cornyn (R-Texas), Tom Cotton (R-Ark.), Kevin Cramer (R-N.D.), Mike Crapo (R-Idaho), Ted Cruz (R-Texas), John Curtis (R-Utah), Steve Daines (R-Mont.), Joni Ernst (R-Iowa), Deb Fischer (R-Neb.), Lindsay Graham (R-S.C.), Chuck Grassley (R-Iowa), Bill Hagerty (R-Tenn.), Josh Hawley (R-Mo.), John Hoeven (R-N.D.), Cindy Hyde-Smith (R-Miss.), Ron Johnson (R-Wis.), Jim Justice (R-W.Va.), James Lankford (R-Okla.), Mike Lee (R-Utah), Cynthia Lummis (R-Wyo.), Roger Marshall (R-Kan.), Mitch McConnell (R-Ky.), Dave McCormick (R-Pa.), Jerry Moran (R-Kan.), Bernie Moreno (R-Ohio), Markwayne Mullin (R-Okla.), Pete Ricketts (R-Neb.), Jim Risch (R-Idaho), Mike Rounds (R-S.D.), Eric Schmitt (R-Mo.), Rick Scott (R-Fla.), Tim Scott (R-S.C.), Tim Sheehy (R-Mont.), Thom Tillis (R-N.C.), Tommy Tuberville (R-Ala.), Roger Wicker (R-Miss.) and Todd Young (R-Ind.) cosponsored the bill.

Rep. Randy Feenstra (R-Iowa) introduced the legislation in the House of Representatives.

The full bill text is available here.

MIL OSI USA News –

February 15, 2025
MIL-OSI USA: Duckworth, Durbin Join Entire Democratic Caucus To Raise Alarm Over Trump Administration Pushing Illegal, Indiscriminate Funding Cuts To NIH, Derailing Lifesaving Medical Research

US Senate News:

Source: United States Senator for Illinois Tammy Duckworth

February 13, 2025

[WASHINGTON, D.C.] – U.S. Senator Tammy Duckworth (D-IL) and U.S. Senate Democratic Whip Dick Durbin (D-IL) today joined U.S. Senator Patty Murray (D-WA), as well as the entire Senate Democratic Caucus, in sending a letter to U.S. Department of Health and Human Services Secretary Robert F. Kennedy, Jr. expressing serious alarm over the Trump Administration’s recent decisions that threaten to undermine America’s biomedical research infrastructure and setting progress back generations. The steps the Trump Administration has taken would create a serious funding shortfall for research institutions nationwide, threaten to undermine progress on lifesaving scientific advancements, and could cost the U.S. economy billions of dollars while threatening the livelihoods of hundreds of thousands of workers.

“As the largest public funder of biomedical research in the world, NIH plays a critical role in sustaining the research infrastructure necessary for scientific breakthroughs in cancer treatment, infectious disease prevention, and medical technology innovation, among many others. President Trump has wreaked havoc on the nation’s biomedical research system in recent weeks. In his first several days in office, President Trump imposed a hiring freeze, communications freeze, ban on travel, and cancellation of grant review and advisory panels that are necessary to advance research. While some of these efforts have been reversed, they continue to cause confusion and miscommunication among researchers and recipients of NIH funds,” the lawmakers wrote.

Last week, NIH announced it would set the maximum reimbursement rate for indirect costs to 15 percent—creating a serious funding shortfall for research institutions of all types across the country. This move would dismantle the biomedical research system and stifle the development of new cures for disease. It won’t produce cost savings—it will just shift costs to states who can’t afford to pay the difference. Importantly, this action by the Trump Administration is illegal—Congress’ bipartisan Labor-HHS-Education Appropriations Bill prohibits modifications to NIH’s indirect costs.

“This change to NIH’s indirect cost rate represents an indiscriminate funding cut that will be nothing short of catastrophic for the lifesaving research that patients and families are counting on. The Administration’s new policy means that research will come to a halt, sick kids may not get the treatment they need, and clinical trials may shut down abruptly,” the Senators wrote. On Monday, a federal judge in Boston temporarily blocked the NIH rate cut and set a hearing for February 21.

The Senators’ letter points out that, in addition to the stifling impact on discovering new cures and ripping away treatment from those who need it, changes to NIH policy and communications threaten jobs in all 50 states and the District of Columbia. NIH research supported more than 412,000 jobs and fueled nearly $93 billion in new economic activity in Fiscal Year 2023 and every dollar the NIH invests in research generates almost $2.50 in economic activity.

“The Trump Administration has left researchers, universities, and health systems with great uncertainty about whether they can continue to support entire research programs and patient clinical trials across the country. Institutions and grantees nationwide are dealing with an unprecedented external communications ‘pause’ enacted by new leadership at the U.S. Department of Health and Human Services, the lack of transparency regarding the Administration’s illegal funding freeze, and the uncertainty of how new Executive Orders would be applied to their critical work. These actions resulted in NIH freezing grant reviews and cancelling advisory meetings, delaying critical funding that scientists need to continue advancing new cures and treatments. These disruptions do not just slow research—they cost lives,” the Senators continued.

“Our standing as a world leader in funding and producing new medical and scientific innovations has been put at risk by these recent actions from the Trump Administration. We urge you to stop playing political games with the lifesaving work of the NIH and to allow NIH research to continue uninterrupted,” the lawmakers wrote.

The letter was signed by the entire Senate Democratic caucus. In addition to Duckworth, Durbin and Murray, U.S. Senators Angela Alsobrooks (D-MD), Tammy Baldwin (D-WI), Michael Bennet (D-CO), Richard Blumenthal (D-CT), Lisa Blunt Rochester (D-DE), Cory Booker (D-NJ), Maria Cantwell (D-WA), Chris Coons (D-DE), Catherine Cortez Masto (D-NV), John Fetterman (D-PA), Ruben Gallego (D-AZ), Kirsten Gillibrand (D-NY), Maggie Hassan (D-NH), Martin Heinrich (D-NM), John Hickenlooper (D-CO), Mazie Hirono (D-HI), Tim Kaine (D-VA), Mark Kelly (D-AZ), Andy Kim (D-NJ), Angus King (I-ME), Amy Klobuchar (D-MN), Ben Ray Luján (D-NM), Ed Markey (D-MA), Jeff Merkley (D-OR), Chris Murphy (D-CT), Jon Ossoff (D-GA), Alex Padilla (D-CA), Gary Peters (D-MI), Jack Reed (D-RI), Jacky Rosen (D-NV), Bernie Sanders (I-VT), Brian Schatz (D-HI), Adam Schiff (D-CA), Chuck Schumer (D-NY), Jeanne Shaheen (D-NH), Elissa Slotkin (D-MI), Tina Smith (D-MN), Chris Van Hollen (D-MD), Mark Warner (D-VA), Raphael Warnock (D-GA), Elizabeth Warren (D-MA), Peter Welch (D-VT), Sheldon Whitehouse (D-RI) and Ron Wyden (D-OR) signed onto the letter.

The copy of the letter is available below:

February 13, 2025

Dear Secretary Kennedy,

We write to express our serious concern with the Trump Administration’s recent decisions that threaten to undermine the nation’s biomedical research infrastructure and set us back generations. The steps the Trump Administration has taken will create a serious funding shortfall for research institutions nationwide, threaten to undermine progress on lifesaving scientific advancements, could cost the U.S. economy billions of dollars, and threaten the livelihoods of hundreds of thousands of workers.

As the largest public funder of biomedical research in the world, NIH plays a critical role in sustaining the research infrastructure necessary for scientific breakthroughs in cancer treatment, infectious disease prevention, and medical technology innovation, among many others. President Trump has wreaked havoc on the nation’s biomedical research system in recent weeks. In his first several days in office, President Trump imposed a hiring freeze, communications freeze, ban on travel, and cancellation of grant review and advisory panels that are necessary to advance research. While some of these efforts have been reversed, they continue to cause confusion and miscommunication among researchers and recipients of NIH funds.

Just last week, NIH announced an illegal plan to cap indirect cost rates that research institutions rely on. In capping indirect cost rates at 15 percent for NIH-funded grants, this policy would cut funding essential for conducting research, such as operating and maintaining laboratories, equipment, and research facilities. This change to NIH’s indirect cost rate represents an indiscriminate funding cut that will be nothing short of catastrophic for the lifesaving research that patients and families are counting on. The Administration’s new policy means that research will come to a halt, sick kids may not get the treatment they need, and clinical trials may shut down abruptly.

These confusing and harmful policy changes threaten patient safety. The strength of the American research enterprise – recognized as the best in the world – is built on Congress’ bipartisan commitment to supporting essential research infrastructure. This funding, which Congress has long appropriated on a bipartisan basis, fuels groundbreaking medical discoveries and cements the United States’ position as the global leader in biomedical research.

In addition to the stifling impact on discovering new cures and ripping away treatment from those who need it, changes to NIH policy and communications threaten jobs in all 50 states and the District of Columbia, with everyone from custodians, to research trainees, to scientists facing potential layoffs. NIH research supported more than 412,000 jobs and fueled nearly $93 billion in new economic activity in Fiscal Year 2023. Every dollar the NIH invests in research generates almost $2.50 in economic activity. These reckless policy changes not only threaten biomedical innovation and research, but also the livelihoods of thousands of workers in every state across the nation.

The Trump Administration has left researchers, universities, and health systems with great uncertainty about whether they can continue to support entire research programs and patient clinical trials across the country. Institutions and grantees nationwide are dealing with an unprecedented external communications “pause” enacted by new leadership at the U.S. Department of Health and Human Services, the lack of transparency regarding the Administration’s illegal funding freeze, and the uncertainty of how new Executive Orders would be applied to their critical work. These actions resulted in NIH freezing grant reviews and cancelling advisory meetings, delaying critical funding that scientists need to continue advancing new cures and treatments. These disruptions do not just slow research – they cost lives.

The NIH plays a critical role in our nation’s efforts to fund scientific advancements that improve health and save lives. Our standing as a world leader in funding and producing new medical and scientific innovations has been put at risk by these recent actions from the Trump Administration. We urge you to stop playing political games with the lifesaving work of the NIH and to allow NIH research to continue uninterrupted.

Sincerely,

-30-

MIL OSI USA News –

February 15, 2025
MIL-OSI USA: Wyden Releases Draft Bill to Secure Americans’ Communications Against Foreign Surveillance Demands

US Senate News:

Source: United States Senator Ron Wyden (D-Ore)
February 14, 2025
Bill Fixes Loopholes in Flawed U.S. Law Used to Demand Apple Build Backdoors for iCloud Accounts, Putting Americans’ Security at Risk
Washington, D.C. – U.S. Senator Ron Wyden, D-Ore., today released a discussion draft of the Global Trust in American Online Services Act to secure Americans’ communications against abusive foreign demands to weaken the security of communications services and software used by Americans.
The bill reforms the CLOUD Act, which permits foreign governments to make surveillance demands directly of U.S. companies rather than going through the U.S. legal system.
“Foreign governments shouldn’t get a cheat code to undermine the security of American technology,” Wyden said. “My bill would fix the loopholes in the CLOUD Act, and modernize the law so American allies can request the information they need to investigate serious crimes without sacrificing the security of Americans’ communications services.”
According to news reports, the United Kingdom issued a secret order to Apple last month, directing the company to weaken the encryption protecting its iCloud backup service. The U.K. was apparently able to secretly issue the order to Apple, rather than seeking assistance from the Department of Justice (DOJ) because of the CLOUD Act. Wyden and Representative Andy Biggs, R-Ariz., urged Director of National Intelligence Tulsi Gabbard to demand the U.K. withdraw its order in a letter on Thursday.
The CLOUD Act, enacted in 2018, enables foreign countries to obtain data directly from U.S. firms, bypassing the U.S. legal system once they enter into an agreement with the Justice Department. However, the CLOUD Act failed to require foreign countries to adopt the same due process requirements long guaranteed under U.S. law, enabling foreign governments to demand that U.S. technology companies weaken the security of products used by Americans and putting global trust in U.S. firms at risk.
The Global Trust in American Online Services Act addresses serious flaws in the CLOUD Act, to ensure that U.S. technology companies can continue to maintain the trust of their international customers, and that the U.S. can compete globally as a safe place for data. The legislation would:
Prevent foreign governments from using the CLOUD Act to require U.S. providers to adopt specific designs for products, reduce the security of a product, or deliver malware to a customer.
Allow U.S. providers to challenge foreign CLOUD Act orders in U.S. federal court.
Require Congressional approval of CLOUD Act agreements rather than the current disapproval mechanism, and enable oversight by requiring that each agreement sunset after five years rather than lasting indefinitely.
The draft bill is available here. A one-page summary of the bill is available here.

MIL OSI USA News –

February 15, 2025
MIL-OSI USA: Grassley to Trump: Whistleblowers Are Key to Promoting Government Efficiency, Combatting Waste

US Senate News:

Source: United States Senator for Iowa Chuck Grassley

In letter to president, Grassley seeks Rose Garden ceremony honoring whistleblowers

WASHINGTON – Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) is calling on President Donald Trump to empower and celebrate whistleblowers who pay a patriotic service to the country by helping eliminate government waste, fraud and abuse. In a letter to President Trump, Grassley requested the president hold a White House Rose Garden ceremony to honor whistleblowers and send a clear message that government misconduct and retaliation will not be tolerated.

“Whistleblowers have exposed waste, fraud and abuse in just about every industry and agency in this country. The issues they report have saved billions of taxpayer dollars and countless more through their deterrent effect,” Grassley wrote. “The President of the United States honoring whistleblowers with a Rose Garden ceremony on Whistleblower Appreciation Day for their courage and sacrifice would send a loud, clear message that our government leaders appreciate the importance of whistleblowers and retaliation will not be tolerated. It would inspire confidence in those who witness wrongdoing to stand up and do something to fix it.”

Grassley additionally noted that many whistleblowers risk their careers, reputation and even health to come forward with information.

“For example, the brave Internal Revenue Service (IRS) whistleblowers who made legally protected disclosures about misconduct in the handling of the Hunter Biden investigation have faced retaliation by the IRS and several attempts to discredit their reputations and ruin their careers. Many Justice Department and FBI whistleblowers have done the same, putting it all on the line to expose political bias, and the thanks they get is government retaliation,” Grassley continued.

Grassley has called on every president since Ronald Reagan to hold a Rose Garden ceremony honoring whistleblowers which would encourage others to come forward who may be aware of government mismanagement.

A fierce whistleblower advocate, Grassley is the author of numerous laws to empower whistleblowers and shield them from retaliation for speaking the truth. He is also the co-founder and co-chairman of the Senate Whistleblower Protection Caucus, which shares best practices with Senate offices, advocates and government stakeholders on how to protect and effectively interact with whistleblowers. During a Judiciary Committee executive business meeting yesterday, Grassley read several first-hand accounts from FBI whistleblowers detailing the abuse they’ve suffered at the hands of former and current FBI officials, and urged President Trump to reinstate those who’ve been retaliated against.

Text of Grassley’s letter to President Trump follows:

February 14, 2025

VIA ELECTRONIC TRANSMISSION

The Honorable Donald J. Trump

President of the United States

The White House

1600 Pennsylvania Ave

Washington D.C. 20500

Dear President Trump:

You have said your administration is dedicated to eliminating waste and ensuring the government works efficiently and effectively for the American people. Whistleblowers play an integral role in accomplishing this mission and have been doing so since our nation’s founding.

Whistleblowers are patriots who help identify violations of law, rule, regulation, gross mismanagement, abuses of authority, and threats to public health and safety. In many circumstances, they do so at risk to their careers, reputation, and even health. For example, the brave Internal Revenue Service (IRS) whistleblowers who made legally protected disclosures about misconduct in the handling of the Hunter Biden investigation have faced retaliation by the IRS and several attempts to discredit their reputations and ruin their careers. Many Justice Department and FBI whistleblowers have done the same, putting it all on the line to expose political bias, and the thanks they get is government retaliation.

Whistleblowers have exposed waste, fraud, and abuse in just about every industry and agency in this country. The issues they report have saved billions of taxpayer dollars and countless more through their deterrent effect. In addition to the money they have saved the taxpayers, whistleblowers help the government work better for the American people by exposing wrongdoing and misconduct, to include government weaponization.

The President of the United States honoring whistleblowers with a Rose Garden ceremony on Whistleblower Appreciation Day for their courage and sacrifice would send a loud, clear message that our government leaders appreciate the importance of whistleblowers and retaliation will not be tolerated. It would inspire confidence in those who witness wrongdoing to stand up and do something to fix it. It would help build a culture of integrity where employees are not afraid to raise legitimate concerns because they know retaliators will be punished, not the whistleblower.

I have asked every president since President Ronald Reagan to hold a Rose Garden ceremony to honor whistleblowers. No president has done so. I hope you will be the first to set this historic precedent and hold such a ceremony on Whistleblower Appreciation Day on July 30 this year.

In the Senate, I have dedicated my career to protecting the rights of whistleblowers through bipartisan legislative efforts and have urged my colleagues to support whistleblowers who shine a light on wrongdoing. Instead of being treated like skunks at a picnic, let whistleblowers smell the roses at the White House and bask in the appreciation of a thankful nation well served by their efforts to shine a light on waste, fraud, and abuse. I hope we can work to ensure whistleblowers are protected and appreciated and our government remains transparent and accountable to the American people.

Sincerely,

Charles E. Grassley

Chairman

Committee on the Judiciary

MIL OSI USA News –

February 15, 2025
MIL-OSI USA: ICYMI: Lankford Releases Federal Fumbles Report, Pushes to Waste Less and Save More

US Senate News:

Source: United States Senator for Oklahoma James Lankford
WASHINGTON, DC – Senator James Lankford (R-OK), Republican Conference Vice Chair, delivered a floor speech announcing the latest edition of his government waste book, Federal Fumbles: A Playbook for DOGE.
IN CASE YOU MISSED IT…
View the speech HERE or download it HERE.
Excerpts
“But Oklahomans that I talked to aren’t offended that we’re actually cutting back on waste. Now, they may have questions about how it’s done and the speed and where it comes out. And those are all reasonable questions we should have a national dialog on. But when Oklahomans hear that USAID last year did a grant of $32,000 to create a comic book about transgenders in Peru, they would say to me, ‘Hey, I’d like to be able to spend that $32,000 myself, rather than the transgender comic book in Peru.’ If the folks in Peru want that comic book, maybe they should pay for it, not American taxpayers.
…
“Let’s figure it out. The most simple thing that we do every year when we bring out this Federal Fumbles book is say, here are things we can talk about… But government inefficiency shouldn’t be partisan, shouldn’t be controversial. And for those that have joined all of us that have worked on this for years to expose waste in government, welcome to the club. We’re glad to have folks engaging on this. I’m not critical. I’m excited that you’re here because we need more help.
“People in Oklahoma, my state, lose their hard-earned tax money on things that aren’t education, aren’t roads, aren’t national defense. They’re waste. And that’s what people want to see stop. So I know I encourage people to be able to just take a glance. It’s easy reading lots of pictures. I know they encourage people to take a glance at our Federal Fumble book that’s released. But I encourage every member of this body to assign their staff to go look for waste. And then let’s sit down together and see if we can figure out how to make it stop. We should waste less and save more. It shouldn’t be that hard.”

MIL OSI USA News –

February 15, 2025
MIL-OSI USA: WATCH: Senator Reverend Warnock Underscores Importance of Lowering Health Care Costs in Speech Opposing RFK Nomination to Lead HHS

US Senate News:

Source: United States Senator Reverend Raphael Warnock – Georgia

WATCH: Senator Reverend Warnock Underscores Importance of Lowering Health Care Costs in Speech Opposing RFK Nomination to Lead HHS

On Wednesday evening, Senator Reverend Warnock held the Senate floor for nearly an hour to bring attention to the danger of Robert F. Kennedy Jr.’s nomination to lead the Department of Health and Human Services (HHS)

During his speech, Senator Reverend Warnock highlighted Mr. Kennedy’s refusal to support lowering health care premiums and inconsistent views on supporting low-income Georgians’ access to coverage

Senator Reverend Warnock also addressed Mr. Kennedy’s disturbing comments and long-held beliefs that threaten health care costs, quality, and access for Americans

Senator Reverend Warnock also used the speech to highlight personal stories from Georgians who would be impacted by Mr. Kennedy’s potential poor stewardship of HHS

Senator Reverend Warnock: “Mr. Kennedy won’t work to lower Georgians’ health care costs or increase access to health care for my constituents who are caught right now in the health care coverage gap”

Above: Senator Reverend Warnock speaks on the Senate floor in opposition to Mr. Kennedy’s HHS nomination

Washington, D.C. – On Wednesday evening, U.S. Senator Reverend Raphael Warnock (D-GA) delivered a speech on the floor of the U.S. Senate highlighting his opposition to Robert F. Kennedy Jr., President Trump’s nominee to be the Secretary of the Department of Health and Human Services (HHS).

During his nearly hour-long speech, Senator Warnock highlighted how Mr. Kennedy would not stand in the way of Washington Republicans’ attempt to raise Georgians’ health care premiums to pay for tax cuts for the wealthiest Americans. The Senator highlighted Mr. Kennedy’s inconsistent positions on providing Georgians’ access to health care.

“I asked him, yes or no, if he supports Congress extending these [premium] tax credits, which lower Americans’ premiums, something he told me was a priority for him [during their private meeting]. Suddenly, Mr. Kennedy could not give me a yes or no answer,” said Senator Reverend Warnock.“I wonder why?

“He told me in private that he cared about health care. He said he was aware that these tax credits were set to expire at the end of the year,” continued the Senator.“He said he wanted to lower health care costs. When I asked him whether he would support Congress extending these tax credits, the crusader, all of a sudden, became a politician and couldn’t give me a yes or no answer. That’s not a good sign. It’s a pretty simple question to the nominee to run the federal agency tasked with protecting the health of all Americans, do you support lowering health care premiums and keeping millions of people insured? That question, apparently, was a bit too challenging for Mr. Kennedy, so if a nominee to run the Department of Health and Human Services cannot tell me if he supports preventing Georgians’ health care costs from spiking… I cannot support his nomination.”

Watch Senator Warnock’s speech HERE.

Below key excerpts from Senator Warnock’s speech:

“Mr. President,

“I rise today in strong opposition to the nomination of Robert F. Kennedy Jr. To lead the Department of Health and Human Services.”

“It’s no overstatement for me to say that it’s hard for me to imagine a nominee less qualified that would actually be presented for the job of HHS secretary. Robert F. Kennedy, not only does he not pass muster, this is not even close. I still can’t believe we’re even having this discussion. He is a conspiracy theorist who is so focused on his conspiracy theories, when you think of what we need the HHS secretary to do, Robert F. Kennedy is a hazard to our health.”

“Certainly we can do better than this. He’s just manifestly unqualified. I don’t know how else to put it.”

[…]

“Mr. Kennedy won’t work to lower Georgians’ health care costs or increase access to health care for my constituents who are caught right now in the health care coverage gap. I’m so proud that in my first few months in the Senate, I was able to play a critical role in passing the American Rescue Plan, which, among other things, lowered Georgians’ health care premiums by hundreds of dollars on average. It is, quite frankly, the kind of thing that makes this job worth it to me. Being able to help ordinary folks.”

“That tax cut literally helped bring health care into reach for tens of thousands of Georgians and millions of Americans. These tax cuts are so critical that the nonpartisan Congressional Budget Office said that the number of Americans without health care would grow by 3.8 million in just one year, in just one year, 3.8 million without health care if the premium subsidies that we now enjoy were allowed to expire. We know that that would impact thousands of Georgians who have only recently been able to receive health care coverage.”

“If these tax credits are allowed to expire, a 45-year-old in Georgia with $62,000 annual income would see premiums go up by $1,414 a year. A 60-year-old couple in Georgia with an $80,000 annual income would see their premiums go up by a staggering $18,157 a year. Can you imagine someone making $80,000 a year, 60-year-old couple, and all of a sudden their health insurance for the year goes up by more than $18,000? We know what that is. That’s the difference between having health care coverage and not having it at all.”

“Nearly one-third of Americans have less than $500 in savings in their bank account, and so these folks don’t have that kind of extra dough. They don’t have that kind of extra cash on hand to pay for something that is vitally necessary, and we don’t know, we never know when we will really need our health insurance.”

“So, every single day, as we watch the games that Washington politicians play — for me, this is no game. I often say that if we would center ordinary people, we have a chance at getting the public policy right. If we will center people rather than politics, we might manage to get the right policy.”

[…]

“I asked the nominee for HHS, what do you think about this? Mr. Kennedy told me when I met him privately in my office that he wanted to work with President Trump to lower health care premiums. I said, good.”

“That’s why I was deeply troubled when I questioned Mr. Kennedy on his support for these tax credits in his hearing in front of the Senate Finance committee, I asked him, yes or no, Mr. Kennedy, are you aware that the premium subsidies that help save Georgians and average of $531 a month are set to expire at the end of the year? He said, yes, he is aware. Then I asked him, yes or no, if he supports Congress extending these tax credits, which lower Americans’ premiums, something he told me was a priority for him. Suddenly, Mr. Kennedy could not give me a yes or no answer. I wonder why?”

“He told me in private that he cared about health care. He said he was aware that these tax credits were set to expire at the end of the year. He said he wanted to lower health care costs. When I asked him whether he would support Congress extending these tax credits, the crusader all of a sudden became a politician and couldn’t give me a yes or no answer. That’s not a good sign.”

“It’s a pretty simple question to the nominee to run the federal agency tasked with protecting the health of all Americans, do you support lowering health care premiums and keeping millions of people insured? That question apparently was a bit too challenging for Mr. Kennedy, so if a nominee to run the Department of Health and Human Services cannot tell me if he supports preventing Georgians’ health care costs from spiking and keeping people like Cassie Cox on her health care plan, I cannot support his nomination.”

“I don’t work for him. I don’t work for the insurance companies. I work for Cassie Cox and the other Georgians like her.”

MIL OSI USA News –

February 15, 2025
MIL-OSI USA: WATCH: Ahead of Potential Workforce Cuts, Senator Reverend Warnock Spotlights Importance of the CDC in Speech Opposing RFK Nomination to Lead HHS

US Senate News:

Source: United States Senator Reverend Raphael Warnock – Georgia

WATCH: Ahead of Potential Workforce Cuts, Senator Reverend Warnock Spotlights Importance of the CDC in Speech Opposing RFK Nomination to Lead HHS

On Wednesday evening, Senator Reverend Warnock gave nearly an hour-long Senate floor speech opposing Robert F. Kennedy Jr. to lead the Department of Health and Human Services (HHS)
Senator Reverend Warnock’s speech came just a day before the Trump Administration announced a 10 percent cut to Centers for Disease Control and Prevention (CDC) staff, roughly 1,300 employees
During his speech, Senator Reverend Warnock highlighted the importance of the Georgia-based CDC and the agency’s work to protect the nation from health, safety, and security threats
The speech follows the recent news that the Trump Administration directed federal health agencies to pause public health communications with hospitals, doctors, and the public
The Senator’s work to champion the CDC continues the legacy of Georgia Republican Senator Isakson, who worked to expand and invest in the CDC
Senator Reverend Warnock: “As a senator from the great state of Georgia, I’m very proud that I represent the Georgia-based Centers for Disease Control and Prevention. […] The CDC does lifesaving work to control disease outbreaks, to ensure our food and our water are safe, to keep our brave servicemembers abroad safe, and to prevent leading causes of death such as heart disease, cancer, stroke, and diabetes”

Above: Senator Reverend Warnock speaks in Defense of the CDC
Washington, D.C. – On Wednesday evening, U.S. Senator Reverend Raphael Warnock (D-GA) delivered a speech on the floor of the U.S. Senate highlighting his opposition to Robert F. Kennedy Jr., President Trump’s nominee to be the Secretary of the Department of Health and Human Services (HHS). During his nearly hour-long speech, Senator Warnock highlighted Mr. Kennedy’s lack of qualifications and troubling conspiracy theories about the Georgia-based Centers for Disease Control and Prevention (CDC), which could hurt the state’s economy and hinder research from bird flu, to maternal health, to cancer.
Senator Warnock’s speech was just a day before the Trump Administration announced a 10 percent reduction of CDC employees. Terminating nearly 1,300 employees, which is part of the administration’s plans to get rid of all probationary employees. Senator Warnock remains committed to using any tools at his disposal to stop cuts to programs and agencies that impact the lives of everyday Americans.
“The moment at which you put the CDC and Nazi death camps in the same statement, and you’re the secretary nominee for HHS, Houston, Georgia, America, we have a problem,” said Senator Reverend Warnock.“And that problem is Robert Kennedy.
Last year, the Senator visited the CDC in Atlanta, Georgia for the first time as Senator to learn about the agency’s efforts to protect public health, including work to combat the maternal mortality crisis and how federal funding plays a role in keeping Georgia and the country safe from infectious diseases. During Mr. Kennedy’s nomination hearing in committee, Senator Warnock spoke at length defending the importance of the CDC which employs over 10,000 hardworking Georgians.
“Last June, I visited the CDC, carrying on the spirit of my predecessor in my seat, my friend, the late Republican Senator Johnny Isakson,” continued Senator Warnock. “Johnny Isakson was a good man. We didn’t agree on everything, but he was just a good human being. And he was a fierce advocate for the CDC. And I’m honored to carry on that tradition in his memory, because he understood, as do I, that the CDC again is saving us from so many bad things that we don’t even see.
The Senator highlighted that:
For everyone one job hired at the CDC, three jobs are created.
Students come from all over the world to study at Georgia research institutions because of its proximity to the CDC. The Center hosts over 125,000 visitors on its campus every year.
The CDC invests hundreds of millions of dollars into Georgia organizations and institutions to partner on research.
For every dollar the CDC spends, Georgia’s economy sees $2 in growth.
If the CDC were a business, it’d be the 7th largest business in the state.
Watch Senator Warnock’s speech HERE.
Below key excerpts from Senator Warnock’s speech:
“Mr. President,
“I rise today in strong opposition to the nomination of Robert F. Kennedy Jr. To lead the Department of Health and Human Services.”
“It’s no overstatement for me to say that it’s hard for me to imagine a nominee less qualified that would actually be presented for the job of HHS secretary. Robert F. Kennedy, not only does he not pass muster, this is not even close. I still can’t believe we’re even having this discussion. He is a conspiracy theorist who is so focused on his conspiracy theories, when you think of what we need the HHS secretary to do, Robert F. Kennedy is a hazard to our health.”
“Certainly we can do better than this. He’s just manifestly unqualified. I don’t know how else to put it.”
[…]
“As a senator from the great state of Georgia, I’m very proud that I represent the Georgia-based Centers for Disease Control and Prevention, the CDC. Which was created nearly 80 years ago to prevent the spread of malaria across our countries. The CDC does lifesaving work to control disease outbreaks, to ensure our food and our water are safe, to keep our brave servicemembers abroad, safe, and to prevent leading causes of death such as heart disease, cancer, stroke, and diabetes.”
[…]
“The CDC employs 10,000 Georgians and their work is so critical for every American. But in addition to that, the CDC has a great economic impact on Georgia as well. For every one job at the CDC, three jobs are created. One job at the CDC creates three jobs in the Georgia economy. […] If the CDC were a business, it would be the seventh largest business in my state.”
[…]
“Last June, I visited the CDC, carrying on the spirit of my predecessor in my seat, my friend, the late Republican Senator Johnny Isakson. Johnny Isakson was a good man. We didn’t agree on everything, but he was just a good human being. And he was a fierce advocate for the CDC. And I’m honored to carry on that tradition in his memory, because he understood, as do I, that the CDC again is saving us from so many bad things that we don’t even see.
[…]
“I spoke with researchers and medical professionals who are already working to address bird flu, which possesses a danger to our poultry farmers and our grocery prices. Can I tell you, I spent time with those CDC workers, they’re not the enemy, as some have tried to paint these federal workers in recent days. Shameful.
“They didn’t deserve to get a blanket memo encouraging them, whoever they are, no matter what job they hold, to just resign. They’re the wall. They’ve been protecting us. They’re the reason we’re able to go to sleep at night and not even think about certain things. It’s hard to get credit for saving people from the bad stuff they don’t even see.”
[…]
“You can slice and dice these words [RFK’s past comments about the CDC] all you want. The moment at which you put the CDC and Nazi death camps in the same statement, and you’re the secretary nominee for HHS, Houston, Georgia, America, we have a problem. And that problem is Robert Kennedy.”
“And god help us if my colleagues on the other side of the aisle cannot get past partisan politics, cannot find the courage to stand up to Donald Trump and say no to Robert Kennedy.”

MIL OSI USA News –

February 15, 2025
MIL-OSI USA: Senators Reverend Warnock, Majority Leader Thune Reintroduce Bipartisan Legislation to Help Farmers Increase Crop Yields and Income
US Senate News:
Source: United States Senator Reverend Raphael Warnock – Georgia

Senators Reverend Warnock, Majority Leader Thune Reintroduce Bipartisan Legislation to Help Farmers Increase Crop Yields and Income
Legislation would make agriculture technology accessible to more Georgia farmers and improve their profit margins

Washington, D.C. — This week, U.S. Senators Reverend Raphael Warnock (D-GA), a member of the Senate Agriculture committee, and Majority Leader John Thune (R-SD) reintroduced their bipartisan Promoting Precision Agriculture Act, legislation that would facilitate the further adoption of precision agriculture technologies for farmers and ranchers. The bill would encourage the government to work with the private sector to develop voluntary interconnectivity standards and prioritize the cybersecurity needed to support innovation in the agriculture industry. Precision agriculture technology helps farmers harvest the highest quality crop and cut down on wasted water, seed, and fertilizer. By making precision agriculture technology more accessible to Georgia farmers, the Senator’s legislative efforts are helping improve producers’ razor-thin profit margins.

“Technology is an integral part of farming in the 21st century to increase crop yield and reduce waste, which would increase savings and net income,” said Senator Reverend Warnock. “It only makes sense that these technologies should work seamlessly together – just as you can easily text an Android from an iPhone. I’m glad to continue working with Leader Thune on this bipartisan legislation. We’re going to fight to get this done.”

“Farmers and ranchers are always looking for ways to improve their operations, especially in states like South Dakota where agriculture is the backbone of our economy,” said Majority Leader Thune. “Precision agriculture harnesses the power of technology to provide real-time data that helps producers become even more efficient and productive. I’m proud that South Dakota is leading the way with this next-generation technology, and I will continue to work to ensure that producers around our country have the resources they need to reap the benefits.”

The Promoting Precision Agriculture Act would:

Direct the U.S. Department of Agriculture (USDA), in consultation with the National Institute of Standards and Technology (NIST) and the Federal Communications Commission (FCC), to support the development of voluntary, consensus-based, industry-led interconnectivity standards, guidelines, and best practices for precision agriculture to encourage the adoption of precision agriculture technology.

Support the evolving demands of precision agriculture by requiring the USDA, NIST, and FCC to consider the impacts next-generation technologies will have on precision agriculture.

Prioritize the cybersecurity needs of precision agriculture. As advanced precision agriculture technologies become more readily available, the agriculture industry has increasingly become vulnerable to cybersecurity threats.
MIL OSI USA News –
February 15, 2025
MIL-OSI USA: Preparing for Winter Weather Across the State This Weekend
Source: US State of New York

Governor Kathy Hochul today directed State agencies to prepare for snow and ice starting today and continuing through the weekend. Snow will start today and transition to a wintry mix by Sunday morning. Winds will be gusty up to 60 mph Friday but will be calmer over the weekend. Snow mixed with ice will cause dangerous driving conditions throughout the weekend and areas that see high accumulations of ice could experience power outages. Temperature drops expected Sunday night could also increase the potential for power outages due to flash freezing. People should monitor local forecasts and take precautions when traveling.

“As snow, ice and gusty winds sweep across much of our state, I’m directing State agencies to take every possible measure to keep New Yorkers safe,” Governor Hochul said. “My Administration is in close contact with our local government partners as we coordinate our efforts, and I encourage everyone to keep track of their local forecasts and use caution when traveling.”

Starting today and continuing through Sunday, much of the state will see snow starting as lake effect east of Lake Ontario and spreading statewide Saturday. Snow totals are expected to be widespread with 8-18” across the North Country, 6-8” in Western New York, 2-6” from Albany to Rochester and north of NYC, and 1-2” in NYC and Long Island. Winds will pick up again Sunday night and continue into Monday with gusts up to 50 mph possible.

Ice accumulation could reach up to half an inch in western Hudson Valley and the Mohawk Valley, up to a quarter of an inch across much of the rest of upstate, north of New York City, and east of Rochester. Wind chills or “feels like” temperatures will be in the teens and 20s on Saturday night but drop to single digits on Sunday night and will remain low or lower for the next several days.

The Governor signed an Executive Order in place declaring a State of Emergency, allowing the State to continue coordinating and sharing resources with local governments affected by upcoming storms. This includes the State Department of Transportation, which will provide assistance to municipalities impacted by the State of Emergency in excess of existing shared service agreements. The order also waives “hours of service” requirements for truck drivers to facilitate emergency salt deliveries ahead of these storms and includes other measures to facilitate emergency salt deliveries to State and local agencies across the State.

For a complete listing of weather alerts, visit the National Weather Service website. New Yorkers are also encouraged to sign up for emergency alerts by subscribing to NY Alert — a free service providing critical emergency information to your cell phone or computer.

Agency Preparations

New York State Division of Homeland Security and Emergency Services

The Division’s Office of Emergency Management is in contact with their local counterparts and is prepared to facilitate requests for assistance. State stockpiles are staffed and ready to deploy emergency response assets and supplies as needed. The State Watch Center is monitoring the storm track and statewide impacts closely.

New York State Department of Transportation

The State Department of Transportation is monitoring weather conditions and prepared to respond with 3,735 supervisors and operators available statewide. All field staff are available to fully engage and respond. All available response equipment is ready to deploy and all residencies in impacted locations will remain staffed for 24/7 operations with operators, supervisors, and mechanics throughout the duration of the event and priority cleanup operations.

Statewide equipment numbers are as follows:
- 1,635 large plow trucks
- 349 large loaders
- 158 medium duty plows
- 54 tow plows
- 30 snow blowers
- 20 graders
The need for additional resources will be re-evaluated as conditions warrant throughout the event.

For real-time travel information, motorists should call 511 or visit 511ny.org, New York State’s official traffic and travel information source.

Thruway Authority

The Thruway Authority is monitoring the forecast and ready to respond with 692 operators and supervisors available. Statewide equipment numbers and resources are listed below:
- 340 large and medium duty plow trucks
- 9 tow plows
- 63 loaders
Variable Message Signs and social media — X and Facebook — are utilized to alert motorists of winter weather conditions on the Thruway.

New this snow and ice season, all of the Thruway’s more than 250 heavy-duty plow trucks are equipped with green hazard lights, complementing the standard amber hazard lights. Green lights are intended to improve visibility and enhance safety during winter operations, particularly in low-light conditions and poor weather. Drivers are reminded that Thruway snowplows travel at about 35 mph — which in many cases is slower than the posted speed limit — to ensure that salt being dispersed stays in the driving lanes and does not scatter off the roadways. The safest place for motorists is well behind the snowplows where the roadway is clear and treated.

The Thruway Authority encourages motorists to download its mobile app which is available for free on iPhone and Android devices. The app provides motorists direct access to real-time traffic information, live traffic cameras and navigation assistance while on the go. Motorists can also sign up for TRANSalert e-mails and follow @ThruwayTraffic on X for the latest traffic conditions along the Thruway.

New York State Department of Public Service

New York’s utilities have about 5,500 workers available statewide to engage in damage assessment, response, repair and restoration efforts across New York State, as necessary. Agency staff will track utilities’ work throughout the event and ensure utilities shift appropriate staffing to regions that experience the greatest impact.

New York State Police

State Police have instructed all Troopers to remain vigilant and will deploy extra patrols to affected areas as needed. All four-wheel drive vehicles are in service and all specialty vehicles, including Utility Terrain Vehicles and snowmobiles, are staged and ready for deployment.

New York State Department of Environmental Conservation

DEC Emergency Management staff, Environmental Conservation Police Officers, Forest Rangers and regional staff remain on alert and continue to monitor the developing situation and weather forecasts. Working with partner agencies, DEC is prepared to coordinate resource deployment of all available assets, including first responders, to targeted areas in preparation for potential impacts due to snow.

DEC reminds those responsible for the removal and disposal of snow to follow best management practices to help prevent flooding and reduce the potential for pollutants like salt, sand, oils, trash and other debris from affecting water quality. Disposal of snow in local creeks and streams can create ice dams, which may cause flooding. Public and private snow removal operators should be aware of these safety issues during and after winter storms. Additional information is available at Division of Water Technical and Operational Guidance Series: Snow Disposal.

Unpredictable winter weather and storms in the Adirondacks, Catskills and other backcountry areas, can create unexpectedly hazardous conditions. Visitors should be prepared with proper clothing and equipment for snow, ice and the cold to ensure a safe winter experience. Snow depths range greatly throughout the Adirondacks, with the deepest snow at higher elevations in the High Peaks region and other mountains over 3,000 feet. Most lower elevation trails are frozen, including many trails in the Catskill Mountains.

While some waterways are currently frozen, DEC advises outdoor enthusiasts to review ice safety guidelines before heading out.

Hikers are advised to temporarily avoid all high-elevation trails as well as trails that cross rivers and streams. Hikers in the Adirondacks are encouraged to check the Adirondack Backcountry Information webpages for updates on trail conditions, seasonal road closures and general recreation information.

Backcountry visitors should Hike Smart and follow proper safety guidelines. Plan trips accordingly. In an emergency, call 9-1-1. To request Forest Ranger assistance, call 1-833-NYS-RANGERS.

Office of Parks, Recreation and Historic Preservation

New York State Park Police and park personnel are on alert and closely monitoring weather conditions and impacts. Response equipment is being fueled, tested and prepared for storm response use. Park visitors should visit parks.ny.gov, check the free mobile app, or call their local park office for the latest updates regarding park hours, openings and closings.

Metropolitan Transportation Authority

The MTA is closely monitoring weather conditions to ensure safe, reliable service. MTA employees will be poised to spread salt, clear platforms and stairs where ice exists, and keep signals, switches and third rail operating, remove any downed trees that may fall across tracks, and attend to any weather-related challenges. MTA Bridges and Tunnels advises motorists to use caution when driving on icy roadways and drive at reduced speeds.

Customers are encouraged to check https://www.mta.info for the latest service updates, and to use caution while navigating the system. Customers should also sign up for real-time service alerts via text or email. These alerts are also available via the MTA app and TrainTime app.

Port Authority of New York and New Jersey

The Port Authority monitors weather conditions across all its facilities. In the event of severe weather, the agency issues travel alerts and updates as needed via facility email alerts and on social media. For the latest information about Port Authority facilities, please check social media, sign up for PA Alerts or download one of the PA mobile apps, including RidePATH, which provides real-time updates and alerts for PATH service.

Safety Tips

Dress for Cold Weather
- Warm hat and gloves; face mask for extreme cold
- Dress in layers and cover exposed skin
  - 2-3 layers of upper-body clothing and 1-2 layers of lower-body clothing
  - An outer layer to keep out wind and wet snow
- Waterproof boots
Don’t Forget Your Pets
- Keep pets warm, dry and indoors when possible.
- Provide plenty of food and water because dehydration is dangerous in winter.
- Keep pets bundled up when outside, limit time outside, and clean them thoroughly, including paws, when bringing indoors.
Travel

Some of the most important tips for safe driving include:
- Monitor the forecast for your local area and areas you may be travelling to.
- Avoid unnecessary travel.
- If you must travel, make sure your car is stocked with survival gear like blankets, a shovel, flashlight and extra batteries, extra warm clothing, set of tire chains, battery booster cables, quick energy foods and brightly colored cloth to use as a distress flag.
- If you have a cellphone or other communications device such as a two-way radio available for your use, keep the battery charged and keep it with you whenever traveling. If you should become stranded, you will be able to call for help, advising rescuers of your location.
- The leading cause of death and injuries during winter storms is transportation accidents. Before getting behind the wheel, make sure that your vehicle is clear of ice and snow; good vision is key to good driving. Plan your stops and keep more distance between cars. Be extra alert and remember that snowdrifts can hide smaller children. Always match your speed to the road and weather conditions.
- It is important for motorists on all roads to note that snowplows travel at speeds up to 35mph, which in many cases is lower than the posted speed limit.
- Oftentimes on interstate highways, snowplows will operate side by side, to safely clear several lanes at one time.
- Motorists and pedestrians should also keep in mind that snowplow drivers have limited lines of sight, and the size and weight of snowplows can make it very difficult to maneuver and stop quickly. Snow blowing from behind the plow can severely reduce visibility or cause whiteout conditions.
- Motorists should not attempt to pass snowplows or follow too closely. The safest place for motorists to drive is well behind the snowplows where the roadway is clear and salted. Never attempt to pass a snowplow while it’s operating.
Power Outages
- Check with your utility to determine area repair schedules.
- If you lose power, turn off or unplug lights and appliances to prevent a circuit overload when service is restored; leave one light on to indicate when power has been restored.
- If heat goes out during a winter storm, keep warm by closing off rooms you do not need.
To Report an Electric Outage, call:
- Central Hudson: 800-527-2714
- Con Edison: 800-752-6633
- National Grid: 800-867-5222
- NYSEG: 800-572-1131
- O&R: 877-434-4100
- PSEG-LI: 800-490-0075
- RG&E: 800-743-1701
Heating Safety
- Use only safe sources of alternative heat such as a fireplace, small well-vented wood or coal stove or portable space heaters.
- When using alternative heat sources such as a fireplace, woodstove, etc. always make sure you have proper ventilation and follow manufacturer’s instructions.
- Keep curtains, towels and potholders away from hot surfaces.
- Have a fire extinguisher and smoke detectors and make sure they work.
- If you use kerosene heaters to supplement your regular heating fuel, or as an emergency source of heat, follow these safety tips:
- Follow the manufacturers’ instructions.
  - Use only the correct fuel for your unit.
  - Refuel outdoors only and only when the unit is cool.
  - Keep the heater at least three feet away from furniture and other flammable objects.
  - When using the heater, use fire safeguards and ventilate properly.
For more safety tips, visit dhses.ny.gov/safety. For all non-emergency service needs in New York State before, during or after a storm, call 211 or visit www.211nys.org/.

About the Division of Homeland Security and Emergency Services

The Division of Homeland Security and Emergency Services (DHSES) provides leadership, coordination and support to prevent, protect against, prepare for, respond to, recover from and mitigate disasters and other emergencies. For more information, follow @NYSDHSES on Facebook, Instagram and X, or visit dhses.ny.gov.

MIL OSI USA News –
February 15, 2025
MIL-OSI USA: This Week in Trump Administration Oversight and Accountability: Senator Luján Standing Up for New Mexico Amidst the Chaos, Confusion, and Corruption

US Senate News:

Source: United States Senator Ben Ray Luján (D-New Mexico)
Washington, D.C. – This week, amidst the chaos, confusion, and corruption shown by Elon Musk and the Trump administration, U.S. Senator Ben Ray Luján (D-N.M.) took the following actions to hold the Administration accountable and stand up for New Mexicans in Washington:
Senator Luján and the New Mexico Delegation on Thursday night urged the Trump administration to stop the unlawful mass firings of probationary federal employees. In New Mexico, there are approximately 2,200 federal employees in their probationary period – including individuals who serve in critical roles across key agencies, including the Veterans Health Administration, the Bureau of Land Management, the U.S. Forest Service, and the Federal Bureau of Investigation, among others.
“Abruptly terminating these employees without due process would not only undermine the delivery of essential government services but would also have widespread economic consequences for our state. Federal employment is a major contributor to New Mexico’s economy, supporting thousands of families and generating significant local revenue. Large-scale firings of probationary employees would ripple through our communities, reducing consumer spending, straining local businesses, and creating unnecessary economic instability,” the lawmakers wrote in their letter to President Trump.
Senator Luján, a member of the Senate Committee on Finance, joined colleagues to tell Elon Musk and “DOGE” to keep their hands off Americans’ Medicaid and Medicare. In New Mexico, one in three New Mexicans rely on Medicare and over 780,000 individuals rely on Medicaid to access health care.
The lawmakers urged, “It is dangerously unacceptable that an unelected Musk and his unqualified acolytes have access to sensitive CMS systems and are ready to bypass Congress to make life and death decisions affecting millions of Americans. No one asked for this lawless approach to our critical government health care systems. We urge you to stop this threat to Americans’ health care, now.”
Senators Luján and Heinrich joined all Senate Democrats in raising alarm over the Trump administration pushing illegal indiscriminate funding cuts to the National Institutes of Health (NIH) and derailing life-saving research. New Mexico universities conduct research from substance use disorders to cancer treatment and are among the institutions impacted.
“Our standing as a world leader in funding and producing new medical and scientific innovations has been put at risk by these recent actions from the Trump Administration. We urge you to stop playing political games with the lifesaving work of the NIH and to allow NIH research to continue uninterrupted,” the Senators wrote to U.S. Department of Health and Human Services (HHS) Secretary Robert F. Kennedy, Jr.
Senator Luján and members of the Senate Commerce, Science, and Transportation Committee condemned the weaponization of the Federal Communications Commission against broadcasters and public media. Across New Mexico, 15 public media organizations rely on over $5.8 million in grants through the Corporation for Public Broadcasting (CPB) to deliver news, entertainment, and much more.
The lawmakers said, “We urge you both to follow the Constitution, immediately cease abusing the FCC’s legal authority, and return to the evidence-based decision-making that has been a staple of the Commission’s long and storied history.”
Senators Luján and Heinrich joined their colleagues to fight for the safety of families and communities in the wake of the funding freeze preventing the hiring and onboarding of seasonal fighters. This comes as the West continues to be ravaged by deadly wildfires.
“Although there is an urgent need to hire more federal firefighters, the Trump Administration’s hiring freeze does the opposite and is pausing hiring at a critical time for this already understaffed workforce,” they continued. “We urge you to put the safety of families and communities across the country first and allow the federal seasonal firefighter hiring process to continue without delay.”
Senate Democratic Leadership announced this week a new portal for federal employees who want to disclose information about wrongdoing, abuses of power, and threats to public safety.
“In just three weeks, President Trump has shown New Mexicans that his administration is willing to disregard the rule of law, recklessly terminate civil servants, and disband government agencies that Americans depend on. Senate Democrats are committed to holding the Trump administration accountable and courageous whistleblowers will be invaluable to the mission of providing a check on the Executive Branch,” the Senator said.
Additionally, Senator Luján voted against the following nominees this week to stand up for New Mexicans’ security, health and well-being, and economic opportunities:
Tulsi Gabbard to serve as the Director of National Intelligence. Ms. Gabbard has a long history of spreading lies, defending America’s adversaries, sympathizing with dictators, and is a threat to our national security. Read Senator Luján’s full statement here.
Robert F. Kennedy Jr. – who has pushed and profited off of conspiracy theories – to serve as Secretary of Health and Human Services. Throughout Mr. Kennedy’s nomination process, he made it abundantly clear that he will continue to push conspiracy theories and health misinformation while being a rubber stamp for President Trump at the expense of American families’ health care. Read Senator Luján’s full statement here.
Brooke Rollins to serve as Secretary of the Department of Agriculture. The Trump administration abandoned New Mexico’s farmers, ranchers, and acequia parciantes and left them on the hook for millions of dollars. Read Senator Luján’s full statement here.

MIL OSI USA News –

February 15, 2025
MIL-OSI USA: Governor Josh Stein Releases Statement on OSBM’s Revenue Forecast Report

Source: US State of North Carolina

Headline: Governor Josh Stein Releases Statement on OSBM’s Revenue Forecast Report

Governor Josh Stein Releases Statement on OSBM’s Revenue Forecast Report
lsaito
Fri, 02/14/2025 – 15:52

Raleigh, NC

Today, Governor Josh Stein released the following statement regarding the Office of State Budget and Management’s General Fund Revenue Forecast:

“While today’s consensus revenue forecast for this year is positive, North Carolina is approaching a fiscal cliff that threatens our ability to invest in rebuilding western North Carolina, strong public schools, people’s health, infrastructure, and other services we need to make North Carolina safer and stronger. With a growing economy and population, it doesn’t have to be this way. I am committed to working with the legislature to develop solutions that allow us to continue to invest in our state’s future.”

Feb 14, 2025

MIL OSI USA News –

February 15, 2025
MIL-OSI USA: Governor Stein Announces $8 Million Investment in Vance County for Precision Manufacturer’s First North American Plant

Source: US State of North Carolina

Headline: Governor Stein Announces $8 Million Investment in Vance County for Precision Manufacturer’s First North American Plant

Governor Stein Announces $8 Million Investment in Vance County for Precision Manufacturer’s First North American Plant
lsaito
Fri, 02/14/2025 – 15:50

Raleigh, NC

Today, Governor Josh Stein announced high-precision manufacturer Syntec Precision Technology Corporation will create 34 new jobs in Vance County. The company will invest $8 million to establish its first North American production and warehouse facility in the city of Henderson.

“Syntec has made a great decision to make its North American home in our state,” said Governor Josh Stein. “Global manufacturers like Syntec need strong communities with a steady pipeline of talent and infrastructure to support their long-term growth strategies, and we’re proud that Vance County fits the bill.”

Syntec Precision Technology is a leader in engineering and producing precision machining parts for the hydraulic, life sciences, and transportation industries. The company provides research and development, manufacturing, assembly and testing services for its customers. Syntec’s expansion to the United States will support the development, production, and distribution of its high-quality parts for medical devices, diagnostic equipment, and orthopedic products as well as new equipment.

“On behalf of my family and our team, I am thrilled to announce our plans to establish a manufacturing facility in North Carolina,” said Lei Wang and Bin Wang, Owners of Syntec Precision Technology Corporation. “We are deeply grateful to the State of North Carolina, Vance County, the Economic Development Partnership of North Carolina, and the NC Community College System, for their unwavering support and encouragement throughout this process. Your partnership has been instrumental in making our vision a reality, and we are excited to contribute to the growth and success of this vibrant community. We look forward to a strong and prosperous future together in North Carolina.

“North Carolina has the largest manufacturing workforce in the southeastern United States,” said N.C. Commerce Secretary Lee Lilley. “Our ‘First in Talent’ workforce development system continues to provide a highly trained, dedicated workforce for dynamic manufacturers like Syntec.”

While wages for technicians, inspectors, engineers, and other personnel vary by position, annual wages for new positions will average $46,985. The average wage in Vance County is $45,193. These new jobs could potentially create an annual payroll impact of more than $1.5 million.

A performance-based grant of $100,000 from the One North Carolina Fund awarded to Syntec Precision will help the company locate to Vance County. The OneNC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All OneNC grants require a matching participation from local governments and any award is contingent upon that condition being met.

“We welcome these new jobs to Vance County,” said N.C. Senator Lisa S. Barnes. “Syntec is a fantastic addition to our existing supply chain, and we look forward to partnering with the company as it builds its new home here in rural North Carolina.”

In addition to the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina, other key partners in this project include the North Carolina General Assembly, North Carolina Community College System, Vance-Granville Community College, Kerr-Tar Regional Council of Governments, Vance County, Henderson-Vance County Economic Development Commission, Duke Energy, and the City of Henderson.

Feb 14, 2025

MIL OSI USA News –

February 15, 2025
MIL-OSI: Ready Capital Corporation Announces Fourth Quarter and Full Year 2024 Results and Webcast Call

Source: GlobeNewswire (MIL-OSI)

NEW YORK, Feb. 14, 2025 (GLOBE NEWSWIRE) — Ready Capital Corporation (NYSE: RC) (the “Company”) today announced that the Company will release its fourth quarter and full year 2024 financial results before the New York Stock Exchange opens on Monday, March, 3, 2025. Management will host a webcast and conference call on that same day at 8:30 a.m. Eastern Time to provide a general business update and discuss the financial results for the quarter and year ended December 31, 2024.

Webcast:
The Company encourages use of the webcast due to potential extended wait times to access the conference call via dial-in. The webcast of the conference call will be available in the Investor Relations section of the Company’s website at www.readycapital.com. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software.

Dial-in:
The conference call can be accessed by dialing 877-407-0792 (domestic) or 201-689-8263 (international).

Replay:
A replay of the call will also be available on the Company’s website approximately two hours after the live call through March 17, 2025. To access the replay, dial 844-512-2921 (domestic) or 412-317-6671 (international). The replay pin number is 13750356.

About Ready Capital Corporation

Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services lower-to-middle-market investor and owner occupied commercial real estate loans. The Company specializes in loans backed by commercial real estate, including agency multifamily, investor, construction, and bridge as well as U.S. Small Business Administration loans under its Section 7(a) program and government guaranteed loans focused on the United States Department of Agriculture. Headquartered in New York, New York, the Company employs approximately 500 professionals nationwide.

Contact
Investor Relations
Ready Capital Corporation
212-257-4666
InvestorRelations@readycapital.com

The MIL Network –

February 15, 2025
MIL-OSI USA: Reed Joins Researchers & Medical Community in Opposing Major Cuts to Life-saving NIH Research

US Senate News:

Source: United States Senator for Rhode Island Jack Reed

PROVIDENCE, RI – Earlier this week, a federal judge temporarily blocked the Trump Administration’s attempt to make abrupt, unlawful cuts to research funding at universities, medical schools, hospitals and other scientific institutions administered by the National Institutes of Health (NIH). A court hearing on the matter is scheduled for February 21st.

Along with the uncertainty that comes with any major litigation process, so does widespread alarm about what a potential loss of federal grant dollars would mean for the organizations and communities that rely on NIH funding, including those in Rhode Island. If Trump’s funding cuts take effect, the University of Rhode Island, Brown University, Care New England, and Brown University Health stand to lose as much as $34.3 million, according to the Boston Globe, as innovative health research would be halted, clinical trials put on hold, and an entire generation of medical researchers could lose their career opportunities overnight.

NIH is the primary source of federal funding for medical research in the United States and has partnered with academic and medical researchers nationwide to conduct groundbreaking research that has led to scientific discoveries and advancements that have saved and transformed lives.

But now the Trump Administration is attempting to suddenly slash billions of dollars of federal funding annually for U.S. research institutions, including local universities, hospitals, and medical centers. The move could hamper progress toward prevention and treatment of illnesses like Alzheimer’s, cancer, and Parkinson’s disease, and ultimately lead hospitals and universities to lay off staff and shut down laboratories.

Today, U.S. Senator Jack Reed held a press conference at Butler Hospital to oppose these short-sighted cuts that could endanger life-saving research, good-paying jobs, and economic growth in Rhode Island and nationwide.

“NIH is a key driver of America’s strategic advantage in science and technology, and every American who has ever set foot in a hospital has directly benefitted from NIH-supported research. President Trump’s proposed cuts would halt research, delay promising medical advancements, and eliminate jobs at universities and hospitals,” said Senator Reed. “NIH has a proven track record of funding scientific breakthroughs and life-saving treatments. I am heartened that my colleague, Congressman Amo, is taking a lead role in the House to fight these cuts because Congress must work on a bipartisan basis to uphold the law and the law is clear and prohibits modifications to NIH’s indirect costs. Instead of wasting taxpayers money on costly litigation, I urge the Trump Administration to uphold its contractual obligations that are already in place, drop its attempt to ignore Congress’ funding directives, and stop impeding scientific research and advancement.”

Twenty-two states, including Rhode Island, sued the Trump Administration, the Department of Health and Human Services, and NIH for unlawfully cutting these funds. This week, federal judges ordered the Trump Administration to hold off on making $4 billion in NIH cuts.

The indirect costs that are being targeted by these funding cuts include things like utilities, support staff, cleaning costs, and financial management, as well as employing students, supplying equipment, and more. Universities and hospitals may also use this funding to ensure research facilities are compliant with federal rules and regulations, such as data security and privacy. The amount the federal government covers is not arbitrary or unknown, rather it is based on a preestablished rate applied to select expenses. The indirect funds are provided to universities and other research institutions in addition to the research award as part of the overall federal-private partnership.

Studies show that every dollar in NIH funding spurs almost $2.50 in economic activity. NIH funding supports hundreds of thousands of jobs across the country and generates an estimated $92.89 billion in economic activity.

“Rhode Island has a thriving life sciences ecosystem, with a history of innovation in research and discovery fields like neuroscience, health and aging, immunology, RNA and cancer therapy. Scientific breakthroughs can only happen with the right infrastructure – top-notch researchers, supportive institutions and critical financial support,” said Dr. Mark A. Turco, President & CEO of the Rhode Island Life Science Hub. “Reducing indirect support has the potential to slow the advancement of groundbreaking scientific advances. The Rhode Island Life Science Hub remains committed to supporting the state’s institutions, partners and the wider scientific community to continue to advance innovation that drives economic growth and, most importantly, improves the well-being of people and patients.”

“We are extremely grateful for Senator Reed’s leadership on this critical issue. The NIH cuts being proposed directly threaten Care New England and every hospitals’ ability to provide innovative research and ultimately advanced medical care. This change would jeopardize the health of the people of Rhode Island. In addition, we are deeply concerned about its negative impact on jobs and the economy. For the sake of patients, healthcare staff, and our state’s economic well-being, we must all speak out as Senator Reed has,” said Michael Wagner, MD, President and CEO, Care New England Health System.

“Care New England stands united with our healthcare and academic partners in opposing the recent National Institutes of Health (NIH) policy change that would drastically reduce funding for indirect costs of research. This reduction is not just an abstract financial figure—it directly threatens the critical infrastructure that allows us to provide world-class care and conduct the innovative research that benefits our patients, our community, and the state of Rhode Island. This change will have a profound impact on Care New England’s research operations, as well as the broader healthcare ecosystem, and we are deeply concerned about its long-term consequences on jobs and the economy. We appreciate Senator Reed’s leadership in addressing this issue and urge swift action to reverse this policy for the sake of our patients, our staff, and our state’s economic well-being,” said William Grobman, MD, Chief Scientific Officer, Care New England.

“Discoveries at America’s research universities, like the University of Rhode Island, are changing lives and saving lives,” said Kerry L. LaPlante, PharmD, dean of the University of Rhode Island College of Pharmacy. “Researchers at URI are leading critical work around infectious diseases and neuroscience—like our groundbreaking research on microplastics and their impact on Alzheimer’s and dementia—as well as oncology, where we are identifying tumor development at its earliest stage. These discoveries are not possible without robust and sustained federal funding for the entire research ecosystem. Indirect costs are a critical piece of funding, and they are fundamental to advancing medical research and discovery and to the health and safety of researchers. Without these critical resources, the integrity, safety, and progress of scientific breakthroughs would be at risk. To stay competitive, Rhode Island must continue advocating for strong research funding—funding that fuels innovation, supports jobs, and sustains the research ecosystem and scientific discovery—and we are grateful to Senator Reed and our entire Rhode Island delegation for their leadership.”

“At Brown University, in addition to halting critical research on a host of health challenges, from child mental health to Alzheimer’s disease to cancer, we estimate we’d have to cut roughly 200 jobs if the indirect cost rate is capped at 15 percent,” said Mukesh Jain, senior vice president for health affairs and dean of medicine and biological sciences at Brown University. “It’s also likely that we’d have to pause construction of the Danoff Labs in Providence’s Jewelry District, which will house research in aging, immunity, brain science, cancer and biomedical engineering, among other fields. These cuts have downstream effects on union construction jobs, building material purchases, and laboratory equipment. The ripple effects are felt through the local economy. We are thankful for Sen. Reed’s leadership on this issue.”

During Trump’s first term in office, his Administration proposed deep NIH cuts but was rebuffed by Congress. In the federal lawsuit filed this week, the plaintiffs contend that the past actions by Congress established funding practices that cannot be changed without Congressional approval.

MIL OSI USA News –

February 15, 2025
MIL-OSI United Nations: Activities of Secretary-General in France, 10-12 February

Source: United Nations General Assembly and Security Council

On Monday, 10 February, the United Nations Secretary-General, António Guterres, arrived in Paris where, on Tuesday, he would attend the Artificial Intelligence (AI) Summit, co-hosted by French President Emmanuel Macron and Prime Minister Narendra Modi of India.

On Monday evening, the Secretary-General attending a working dinner hosted by President Macron.

On Tuesday morning, the Secretary-General delivered remarks at the AI Summit.

He told the leaders gathered there about the growing concentration of AI capabilities in the hands of a few companies. “While some companies and countries are racing ahead with record investments, most developing nations find themselves left out in the cold,” he said. “This growing concentration of AI capabilities risks deepening geopolitical divides.”

He underscored that the United Nations offers an inclusive, transparent and effective platform for AI solidarity. Through the Global Dialogue that Member States agreed to establish last year, the Secretary-General said that we can align governance efforts around the world and reinforce their interoperability, uphold human rights in AI applications and prevent misuse.

The UN, Mr. Guterres said, provides an inclusive forum for cooperation, complementing existing mechanisms such as the Organisation for Economic Cooperation and Development (OECD) AI Principles, the Group of 7 (G7) and the Global Partnership on AI — as well as regional efforts by the African Union, European Union, the Association of Southeast Asian Nations (ASEAN) and the Council of Europe. (See Press Release SG/SM/22548.)

Prior to attending the Summit, the Secretary-General attended a working breakfast hosted by French Foreign Minister Jean-Noël Barrot. They discussed a wide-ranging set of issues, including the Israeli-Palestinian conflict, the work of the UN peacekeeping forces in southern Lebanon, the situation in the eastern Democratic Republic of the Congo, the war in Ukraine and, of course, the Artificial Intelligence Summit.

The Secretary-General also had a bilateral meeting with Alain Berset, the Secretary-General of the Council of Europe. They discussed the cooperation between their two organizations.

On Wednesday, prior to leaving Paris for Addis Ababa to attend the African Union summit, the Secretary-General visited the headquarters of Reporters Sans Frontières (Reporters without Borders) where he met with the Director General of the press freedom organization, Thibaut Bruttin.

In addressing the staff, the Secretary-General said that organizations like RSF are on the front line in the common fight for truth against fiction, for science against conspiracy, and to fight against impunity when journalists face violence and even death.

The Secretary-General said the struggle to defend freedom of the press and the journalists themselves is essential to preserve our democracies.

He departed then for Addis Ababa, Ethiopia.

MIL OSI United Nations News –

February 15, 2025
MIL-OSI Canada: Working together to restore caribou habitats
In recent years, Alberta has invested significantly in caribou recovery, and most herds are stable or increasing. However, herds remain small and vulnerable to predators. Recovery work is also complex in large part because caribou live in forests that can take decades to establish. Caribou recovery must also work together with local economies and the jobs that families rely on.

Alberta’s government and the Aseniwuche Winewak Nation of Canada have signed a memorandum of understanding (MOU) to help advance caribou recovery in west central Alberta. This MOU is another important step in the province’s long-term caribou recovery efforts, restoring critical habitats while also creating jobs and supporting local economies.

(Left to right) David MacPhee, President of Aseniwuche Winewak Nation of Canada, and Rebecca Schulz, Minister of Environment and Protected Areas, signing the MOU.

“Caribou recovery takes time, while habitat restoration is one aspect of this, as is predator control, we are working closely with industry and Indigenous partners, exploring other ideas that may have potential. I respect the Aseniwuche Winewak Nation of Canada’s dedication to caribou habitat restoration and look forward to working together on caribou recovery in Alberta.”

Rebecca Schulz, Minister of Environment and Protected Areas

“Our Elders say we need to look at the landscape as a whole, and speak for the caribou, as they cannot speak for themselves. When I can hunt caribou again, then I’ll know the forest is in balance. AWN hopes this MOU represents a stronger relationship and a renewed commitment to caribou recovery with the Government of Alberta.”

David MacPhee, President of Aseniwuche Winewak Nation of Canada

In recent years, significant efforts have been made to support caribou recovery in west central Alberta. More than 1.8 million trees have been planted in the Little Smoky and A La Peche caribou ranges alone.

Both Alberta’s government and the Aseniwuche Winewak Nation of Canada agree that collaboration plays a key role in the survival of woodland caribou. One of the main goals of the MOU is returning naturally self-sustaining caribou to areas of importance to Aseniwuche Winewak Nation of Canada in west central Alberta. The new agreement will also work towards:
- Enhancing the Aseniwuche Winewak Nation of Canada Caribou Patrol Program
- Identifying opportunities for Aseniwuche Winewak Nation members to be involved in caribou habitat restoration efforts
- Exploring new ways to enhance area caribou recovery
Over the next few months, Alberta Environment and Protected Areas will work with Aseniwuche Winewak Nation of Canada members to establish a work plan that supports these objectives.

This MOU is another important step in the province’s long-term caribou recovery program, investing in the specialized work needed to restore critical habitats while maintaining working landscapes.

Quick facts
- Alberta’s woodland caribou population is listed as a threatened species.
- More than $70 million has been invested into replanting and restoring caribou habitat across the province through the Caribou Habitat Recovery Program.
- More than 2,600 kilometres of seismic lines have been treated and assessed and 1.8 million trees have been planted in the Little Smoky and A La Peche caribou ranges since 2020.
- The MOU is not a funding agreement. Funding from the Alberta government as part of implementing the MOU will be determined after a work plan is formulated, subject to financial availability and the actions outlined in the plan.
MIL OSI Canada News –
February 15, 2025
MIL-OSI USA: Public Notice: Certified Election Equipment Demonstration
Source: US State of Missouri
Public Notice: Certified Election Equipment Demonstration

The Missouri Secretary of State invites the public to attend a demonstration of election equipment by a current certified vendor. This event aims to showcase the voting system seeking certification for sale and use in Missouri elections.

Event Details:
1. Date: Tuesday, February 18, 2025
2. Time: 2:00 p.m.
3. Place: Missouri State Capitol, 201 W Capitol Ave, House Hearing Room 2, Jefferson City, MO 65101
Agenda:
1. Introductions of key stakeholders
2. Equipment demonstration
3. Questions and opportunities for further education
MIL OSI USA News –
February 15, 2025
MIL-OSI NGOs: UK: Government order for Apple to allow encrypted data access will ‘severely harm’ users’ privacy rights

Source: Amnesty International –

Order attempts to force Apple to provide security authorities access to encrypted user data

Move would put anyone critical of the authorities at increased risk

‘Governments should be encouraging companies to provide greater protections of our data and our rights, not seeking back doors that will leave people around the world at risk’ – Joshua Franco

‘If these reports are true, this is an alarming overreach by the UK authorities seeking to access private data’ – Zach Campbell

The UK government’s order to Apple to allow security authorities access to encrypted cloud data severely harms the privacy rights of users in the UK and worldwide, Amnesty International and Human Rights Watch said today.

The secret order, reported in The Washington Post last week, was issued in January by the Home Office. It concerns Advanced Data Protection, an iPhone function that uses end-to-end encryption on data stored in the cloud, ensuring that only the user of the account can access the data stored and attempts to force Apple to provide security authorities access to it, including device backups that can include contact lists, as well as location and messaging history, for any Apple user worldwide.

The order is disproportionate by design, as it would weaken data protections for all users, not just those suspected of a crime or under investigation. Compliance would harm privacy rights of users worldwide.

News reports said that the Government ordered Apple to build a back door into its products under the Investigatory Powers Act, a 2016 surveillance law that includes provisions allowing the Government to order companies to remove “electronic protection” of user data. The law also prohibits the recipients of these orders, in this case Apple, from acknowledging or commenting on them and reportedly “requires blanket capability to view fully encrypted material” for Apple users worldwide, including users with no apparent connection to the UK.

Privacy vital to protecting people’s rights

Encryption is a crucial enabler of human rights online and offline. Human rights defenders, journalists, and everyone else rely on the security and privacy of their devices to protect them not only from unlawful government spying, but also from cybercrime and other attacks from non-state actors. Weakening encryption, or mandating back doors, leaves all users more vulnerable.

Governments should support strong encryption, and companies should build it into their products and services by default.

In recent years there have been a stream of revelations about government spying relying on surveillance tools eg spyware and digital forensic tools but also taking advantage of overly permissive legal regimes that allow states to access huge troves of personal data from private companies.

State surveillance threatens the work of human rights defenders and journalists, puts marginalised groups including women and LGBT activists at particular risk, and creates a society-wide chilling effect, undermining the rights of everyone to express themselves and protest peacefully.

These tools exploit weaknesses in device encryption and security, and their use is enabled by an under-regulated trade in spyware and other surveillance tools at a global scale, and by the unwillingness of states to regulate their own surveillance practices, too often leaning on “national security” as a blanket excuse for unfettered snooping.

Efforts to protect people’s data

In part due to such revelations, some companies, including Apple, have added new security features to help protect users, including those who may be at particular risk. These include Lockdown Mode, a feature that provides extra protection from spyware and targeted hacking to mobile devices, as well as Advanced Data Protection, the subject of the UK government’s reported order.

The UK is a party to several international and regional treaties enshrining the right to privacy and data protection rights. The vital role of encryption as an enabler of privacy and human rights has been widely recognised including by UN bodies, the UN High Commissioner for Human Rights and human rights experts.

The UN General Assembly and the Human Rights Council, in several resolutions, have called on governments to refrain from interfering with encryption technologies. UN resolutions also encourage technology companies to secure and protect the confidentiality of digital communications and transactions, including measures for encryption, pseudonymisation and anonymity.

Both Amnesty and Human Rights Watch have been critical of the Investigatory Powers Act since its inception. In written evidence to the Joint Committee on the Draft Investigatory Powers Bill in 2016, Human Rights Watch recommended that the UK should refrain from undermining encryption and digital security. It specifically said that the legislation should be amended to ensure that authorities are prohibited from imposing obligations on internet service providers to weaken security measures or design their systems to incorporate measures for exceptional access into encryption by UK authorities.

Joshua Franco, Amnesty Tech’s senior research adviser, said:

“Governments have more and more powerful legal and technical tools at their disposal, and research shows that they are using them to target people for protesting, speaking out, or even just because of what they represent.

“Strong encryption is one of the few protections we have against such attacks, and states should be encouraging companies to provide greater protections of our data and our rights, not seeking back doors that will leave people around the world at risk.”

Zach Campbell, Human Rights Watch’s senior surveillance researcher, said:

“If these reports are true, this is an alarming overreach by the UK authorities seeking to access the private data of not only people in the UK, but anyone worldwide with an Apple account.

“People rely on secure and confidential communications to exercise their rights. Access to device backups is access to your entire phone, and strong encryption to prevent this access should be the norm by default.”

MIL OSI NGO –

February 15, 2025
MIL-OSI NGOs: ‘I couldn’t stop crying for an hour’ – meet the 92-year-old campaigner who saved her brother from execution

Source: Amnesty International –

Hideko Hakamada’s brother Iwao was sentenced to death for murder in Japan in 1968. She campaigned tirelessly for his release as he spent nearly five decades on death row, being described as the world’s longest-serving death row prisoner.

In September 2024, Hakamada was acquitted after a retrial – a court ruling that the evidence that incriminated him was fabricated. Here, 92-year-old Hideko celebrates her brother’s long-awaited freedom.

I thought my brother would not smile in prison. So I smiled every time I visited him, so that he would not forget to smile. When I smile, Iwao also smiles. That is what I tried to do.

Everyone knew he was on death row, so there was no point in hiding it. I kept a little distance from the world – I didn’t go to social gatherings. I think that’s how I was able to do so many things so hard for Iwao.

I was in my 40s, I had a job. I would come home from work at night, and when I was home alone at night, my eyes would open suddenly in the middle of the night. Then all I could think about was Iwao. I couldn’t go to sleep. I had to go to work in the morning, so I drank whiskey to sleep. I drank too much. I drank every day. Then I realized I wouldn’t be able to help Iwao if I was like that, so I stopped drinking altogether.

I was so focused on Iwao that I had no regard for anything else. I visited him a lot. I felt that I had to help my brother who was suffering. I was fighting for him because I thought it was only natural that he should be acquitted because he was innocent. 

It is a crime for a human being to kill another human being, no matter what the government says.

In November 1980, when Iwao’s appeal was dismissed and the death penalty was confirmed, everyone was there, from the lawyers to the supporters and newspapers. At that very moment, everyone seemed to be my enemy.

Later, however, I was supported by the Japan Federation of Bar Associations and that kind of feeling has eventually disappeared. I am also very much indebted to Amnesty International. We went on a “Speaking Tour” throughout Japan together. It was about appealing to everyone. There were people who had never heard of the Hakamada case.

Iwao was on death row, and we didn’t know what tomorrow would be. But I believe that appealing to these people made a difference.

I used to accept the death penalty without giving it much thought. But after what happened with Iwao, I became against the death penalty. It is a crime for a human being to kill another human being, no matter what the government says.

Some people may say that there are people who seem to deserve death penalty, but criminals are still human beings. Some may be rehabilitated, and some may not be rehabilitated, but they are still human beings. I believe that we have to take care of human beings. 

I think it is important for everyone to speak out against the death penalty, even if it may or may not work, rather than just saying nothing because no one will listen. Do not go silent. You must always express that you are against it. We need a world where the death penalty is no more. I believe that the death penalty will eventually be abolished.

We have been fighting for 58 years. We have received support not only from all over Japan, but also from overseas. I would like to express my gratitude to everyone for their support. It was not because of the hard work on my end that Iwao was saved. It was only possible because of this support.

When the judge said that the defendant is not guilty in court, the judge’s voice sounded divine. I was so moved and happy that I burst into tears. I couldn’t stop crying for about an hour.

MIL OSI NGO –

February 15, 2025
MIL-OSI USA: How to do Business with FEMA After a Disaster

Source: US Federal Emergency Management Agency

Headline: How to do Business with FEMA After a Disaster

How to do Business with FEMA After a Disaster

LOS ANGELES – FEMA works with private sector vendors to help fulfill the response and recovery needs for disasters like the recent Los Angeles County Wildfires.The Doing Business with FEMA webpage outlines the steps that companies and small businesses looking to compete for federal contracts should take. During response and recovery, FEMA’s goal is to contract with local businesses in the affected area whenever practical and feasible.FEMA will only engage with companies through the federal procurement process. Business solicitations sent to individual members of the FEMA workforce will not be processed. The FEMA website outlines how companies can see and respond to the agency’s solicitations. The key steps to beginning the process are:Consult your local procurement center: We recommend you consider consulting with these Procurement Technical Assistance Centers.Register with SAM.gov: This is the System for Award Management. Entity registrations are free, and registration is required to do business with the federal government.Understand the FEMA mission: FEMA’s mission, as authorized by the Robert T. Stafford Act, is to help people before, during and after disasters.Monitor contracting sites for opportunities: Contracting sites are listed on FEMA’s webpage.Debris removal is often contracted locally after a disaster. If your company provides debris removal services, you can sign up with the U.S. Army Corps of Engineers Contractor Registry. You can also register your business information (including capabilities and locations served).Additional information can be found on our Frequently Asked Questions webpage.For the latest information about California’s recovery, visit fema.gov/disaster/4856. Follow FEMA Region 9 @FEMARegion9 on X or follow FEMA on social media at: FEMA Blog on fema.gov, @FEMA or @FEMAEspanol on X, FEMA or FEMA Espanol on Facebook, @FEMA on Instagram, and via FEMA YouTube channel. California is committed to supporting residents impacted by the Los Angeles Hurricane-Force Firestorm as they navigate the recovery process. Visit CA.gov/LAFires for up-to-date information on disaster recovery programs, important deadlines, and how to apply for assistance.
daniel.demski
Fri, 02/14/2025 – 18:01

MIL OSI USA News –

February 15, 2025
MIL-OSI USA: Welch Urges OMB to Immediately Reverse Trump’s Chaotic Federal Funding Freeze That is Hurting Vermonters

US Senate News:

Source: United States Senator Peter Welch (D-Vermont)
WASHINGTON, D.C. – U.S. Senator Peter Welch, a member of the Senate Finance Committee, this week urged the Office of Management and Budget (OMB) to halt President Trump’s unilateral federal funding freeze, which is inflicting serious and lasting harm on Vermont farms, families, and businesses. In his letter, Senator Welch uplifted the concerns of Vermonters who attended a recent roundtable about how the funding freeze has impacted them.
The Trump Administration’s pause on federal funding, which was announced without warning or legal authority, has blocked Vermont state agencies and organizations from federal funding and has led to layoffs. The Administration has not restored access to payment portals for some organizations, defying court orders. On Tuesday, a senior Trump Administration FEMA official ignored a federal judge’s order to suspend the freeze for a wide array of grant programs.
“On Friday, January 31, 2025, I held a roundtable with Vermont stakeholders who shared their perspectives on the impact of the funding freeze. The stakeholders—non-profits, small businesses, and farmers that represent a range of sectors including health care, housing, education, and agriculture—shared how the freeze is already impacting their work,” wrote Senator Welch.
“The funding freeze is also hurting state agencies and local municipalities. Just last week, the Vermont Agency of Natural Resources reported being unable to access several of its federal accounts—including those that fund clean water and land and water conservation,” continued Senator Welch. “Additionally, the town of Killington, Vermont, which was awarded a transformational $25 million infrastructure award to redevelop its downtown, has had its grant funding frozen. The town was told that the previously agreed to construction deadlines must remain in place, without any indication of whether construction costs will be reimbursed.”
Senator Welch concluded: “Federal funding comprises 36% of Vermont’s budget. The state relies on nongovernmental entities that receive federal funding to deliver critical services to Vermonters, from Meals on Wheels to housing for unhoused youth, to childcare for unserved rural families. The Administration’s funding freeze and ensuing chaos are already having concrete negative impacts on the people of Vermont. I urge you to immediately reverse the funding freeze order and turn the payment portals back on.”
Read the full text of the letter.

MIL OSI USA News –

February 15, 2025
MIL-OSI Europe: Other events – CJEU judgment recognizing the Taliban’s Oppression of Afghan Women as Persecution – 18-02-2025 – Committee on Civil Liberties, Justice and Home Affairs

Source: European Parliament

On 18 February, LIBE Members will exchange on the topics of gender-based violence and the right to international protection of Afghan women and girls with representatives of the European Commission and the UNHCR Representation for EU Affairs.

On 4 October 2024, the Court of Justice of the European Union (CJEU) ruled that systemic discrimination such as that faced by Afghan women under the Taliban’s rule amounts to persecution under EU asylum law. The judgment, prompted by requests for a preliminary ruling by the Austrian Supreme Administrative Court, affirms that taken cumulatively, the lack of protection from gender-based and domestic violence and forced marriage, along with forced veiling and restrictions on education, employment, healthcare, movement, and political participation, violates human dignity. The CJEU clarified that asylum authorities need not consider other factors regarding an applicant’s individual status besides her gender and nationality when assessing whether the accumulation of discriminatory measures amounts to persecution, thus strengthening Afghan women’s right to international protection.

MIL OSI Europe News –

February 15, 2025
MIL-OSI Europe: Highlights – Gender Mainstreaming Network (GMN): first meeting in 10th legislative term – Committee on Women’s Rights and Gender Equality

Source: European Parliament

On Tuesday, 18 February 2025, the FEMM Committee invited Members of the GMN to hold an exchange of view on the priorities and organisation of work of the Network in the 10th parliamentary term.

At the first meeting of the Gender Mainstreaming Network (GMN) of this parliamentary term, an exchange of views on the priorities and organisation of work of the Network of Members in charge of Gender Mainstreaming will be held, as well as an exchange of views with the FEMM Members in charge of gender mainstreaming in the European Parliament. The GMN is composed of Members from each parliamentary committee and the Conference of Delegation Chairs responsible for gender mainstreaming. It is a forum for exchanging information on ongoing files of interest from a gender equality perspective and for sharing best practices.

MIL OSI Europe News –

February 15, 2025

Category: Politics

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