ALEXANDRIA, Va. - (10/31/05) -- A former United Airlines baggagehandler at Dulles International Airport was sentenced last week tomore than five years behind bars for stealing more than 2,000credit cards--most of them mailed by credit unions--from the maildocks at the airport. Emmanuel Osho, 49, was also ordered to pay$3.7 million in restitution, the amount he and his accomplicesstole using the cards. All of the financial losses were absorbed by56 credit unions and seven card companies. Among the credit unionhit were: Marriott Employees FCU, Northern Piedmont FCU and NewHorizon FCU. Osho, a Nigerian immigrant, pleaded guilty in July ofa scheme by which he stuffed huge quantities of mail into a blackduffel bag and drove the letters to co-conspirators in New Yorkwhere the cards were used by 'strikers' to get fraudulent cashadvances at credit unions and banks in about 100 towns along theEast Coast. Four accomplices, all of them also Nigerian immigrants,have pleaded guilty in the scheme.
-
Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
6h ago -
The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
7h ago -
The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
10h ago -
Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
April 25 -
Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
April 25 -
The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
April 25