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“Deferred Action to Help Young Immigrants” Turns One Year Old August 16th, 2013
It has been a year since President Obama issued Deferred Action for Childhood Arrivals (DACA), a presidential initiative designed to grant a two-year reprieve from deportation and offer work authorization to young undocumented immigrants. U.S. Immigration Offices first accepted applications for DACA on August 15, 2012. DACA does not provide a path to permanent legal status but does allow young immigrants to obtain work permits. For the thousands of undocumented immigrants who have received this relief, the initiative has created an opportunity to obtain work and education without fear of deportation.
If you have questions about DACA, go to the US Government website on Immigration to find answers. Here are a few of the basics:
What are the requirements to apply for Deferred Action?
You must be younger than 31 as of June 15th, 2012; Entered the United States before your 16th birthday; Present in the United States on June 15th, 2012; Continuously resided in the United States for at least five years; Currently enrolled in school, completed high school in the U.S., achieved a GED or were honorably discharged from the United States military or Coast Guard; And not have been convicted of a felony, significant misdemeanor or three or more other misdemeanor offenses not arising from the same act or scheme of misconduct or are otherwise seen as posing a national security or public safety threat. For help with your application visit our application services page.
What are the risks involved in applying for Deferred Action?
The primary risk involved in applying for Deferred Action is that you are exposing yourself as an illegal immigrant to the United States government. If you feel that your case is particularly complicated or you have had a strange history or record in the U.S., you may want to consider using a competent immigration attorney.
As DACA turns a year old, this initiative is something to celebrate. However, more action is needed, especially by the U.S. House of Representatives. Many of these legalized young immigrants continue to live with the fear that their mothers, fathers, brothers and sisters may face deportation in the absence of comprehensive immigration reform. For the faith community, the coming months are important. When Congress returns to Washington, D.C. in September, we need to call, once again, for action to address the need for comprehensive immigration reform, which we see as a humanitarian issue with moral implications.
Oblate JPIC Applauds Court Decision to Uphold Congo Minerals Disclosure August 13th, 2013
On July 23, the DC District Court ruled in favor of the Securities and Exchange Commission’s (SEC) rules which upheld section 1502 of the Dodd–Frank Wall Street Reform and Consumer Protection Act against the National Association of Manufacturers, Chamber of Commerce and the Business Roundtable. Section 1502 requires companies registered with the SEC to carry out due diligence and to disclose whether or not their products contain conflict minerals from the Democratic Republic of the Congo (DRC) and adjacent countries. The Missionary Oblates JPIC office applauds this decision as a victory for the people of the Democratic Republic of Congo. For more information, read the investor’s letter (download PDF) or visit www.iccr.org.
Credit: Image from the Puget Sound Business Journal (http://www.bizjournals.com/seattle/news/2012/10/11/new-sec-rule-forces-manufacturers-to.html)
Faith-Based Investors Urging Bold Action with Companies on Climate Change July 26th, 2013
The Interfaith Center on Corporate Responsibility (ICCR) recently released a white paper on engagement with the energy sector to address the serious risks posed by rapidly rising levels of CO² in the atmosphere. The paper is, in large part, a response to the fossil fuel divestment campaign coordinated by 350.org, and serves to lay out a range of responses open to concerned investors in response to the looming climate crisis.
Read: Insights for Investors Working for Bolder Intervention on Climate Change
Stop Trafficking!! July 15th, 2013
The July issue of Stop Trafficking! contains compelling stories from the US State Department’s 2013 Trafficking in Persons Report. Stop Trafficking! is sponsored by the Sisters of the Divine Savior.
Investors Alarmed by Senate Interference with Dodd-Frank Rules on Derivatives July 11th, 2013
Thirty-eight faith-based and socially responsible institutional investors sent a letter to Senators who recently asked Treasury Secretary Jacob Lew to delay the implementation of important Dodd-Frank derivatives regulations. The Rev. Seamus Finn, OMI (Missionary Oblates of Mary Immaculate, and Board Director, the Interfaith Center on Corporate Responsibility) organized the letter, which expressed dismay and disappointment at the Senators’ action.
Read the letter (download PDF)…
It is vital that the over-the-counter derivatives market be regulated, and soon. Derivatives are complex financial instruments used to hedge risk, and were largely responsible for the 2008 financial crisis.
In the lead up to 2008, large financial institutions bought and sold trillions of dollars worth of over-the-counter derivative instruments linked to subprime mortgage securities, which instruments would trigger a payout in the event of default. “This particular type of OTC derivative, known as a credit default swap (CDS), fomented the mortgage crisis and subsequent credit and economic crisis by offering purported “insurance” to people investing in subprime securities. This insurance fueled excessive risk-taking, demand, and expansion of the subprime market.” (Ref.: The Role of Derivatives in the Financial Crisis, Univ. of MD website)
