WASHINGTON - (07/08/05) A federal judge ruled Thursdaythat Bernard Gurr, the self-proclaimed MisikeaFaAlaveleve, or American Samoan BigChief, who headed American Samoa Government Employees FCU,must serve out the remaining year or so on his 70-month prison termfor fraud and conspiracy related to the failure of the tiny Pacificislands only credit union more than a decade ago. But Gurr,who has been jailed at Nellis Air Force Base in Nevada since hisApril 2003 conviction on 19 criminal charges, may return to hisremote island home to serve out the three years of supervisedrelease after leaving prison, rather than serve it in Hawaii, 2,000miles away from home. The court originally sentenced Gurr tosupervised release in Hawaii because it is the closest jurisdictionfor the U.S. judicial system, which has no supervision in AmericanSamoa. Gurr, who has served 51 of his 70-month sentence, hadrequested early release based on Decembers Supreme Courtruling striking down mandatory sentencing guidelines. But NCUA,which reported a $4.6 million loss from the 1993 failure of the $8million credit union, argued against early release, stressing thata stiff sentence was needed to help deter other financial misdeedsin credit unions. The court also upheld a $65,000 restitution orderagainst Gurr.
-
While banks will likely increase near-term dividend plans, analysts and investors are more focused on the long-term outlook for capital requirements from regulators.
9h ago -
The Missouri bank surveyed consumers about what kind of financial management tools they use, then built its My Finance360 tool in response.
11h ago -
GodFather malware mimics and manipulates real financial apps on Android devices, exposing sensitive data without user suspicion.
June 30 -
As banks consider their strategies, other big names are also considering a role for digital assets.
June 30 -
The Financial Technology Association — which had been granted the right to defend the Consumer Financial Protection Bureau's open banking rule after the bureau declined to defend it — filed a motion Sunday to preserve the rule.
June 30 -
Kevin Fromer, who has headed the Financial Services Forum since 2017, announced his departure Monday. Fromer transformed the Financial Services Forum to advance the interests of the largest U.S. banks.
June 30