ISLE OF WIGHT, Va. - (07/21/05) -- The former assistant manager atSmithfield Packing Employee's CU pleaded guilty Wednesday tostealing more than $100,000 from credit union members over afour-year period. Lamonte Addison, 39, of Newport News, confessedto a scheme under which he would take funds directly from members'accounts and write members' checks to himself. Funds were takenfrom 56 members, police said. Addison faces up to 20 years inprison at his September 21 sentencing.
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The bank technology company, which faces market pressure from fintechs, cut its outlook by about 20% and restructured its leadership following the departure of former CEO Frank Bisignano to the Trump administration.
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The lawmakers suggest ties between the former Binance chief and the Trump family could have led to the pardon.
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A district court has agreed to halt compliance with the Consumer Financial Protection Bureau's Biden-era open banking rule while the Trump administration pursues its own rule.
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The Federal Open Market Committee is expected to announce guidance on the end of its quantitative tightening program later Wednesday. As that process draws to a close, experts are questioning when and how the central bank should use its balance sheet to smooth economic stress in the future.
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The Consumer Financial Protection Bureau is rescinding two rules issued under former CFPB Director Rohit Chopra that required nonbanks to register court orders, plus terms and conditions of contracts.
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The payments giant had a "better than expected" fiscal fourth quarter, and said it expected that momentum to carry through the holidays. It's also looking forward to tailwinds brought by the Olympics and the FIFA World Cup in 2026.
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