DEARBORN, Mich. - (12/21/04) -- Two motorcycle gang members werearrested Monday morning and charged in the bloody December 2001assault on a cash-delivery truck at Dearborn FCU when the robbersshot one of the guards to death outside the credit union, then madeoff with $204,000. Three others were already in custody and will becharged with the crime, according to Terry Booth, special agent forthe FBI. "The other two guys were reporting to work at the FordRouge Plant this morning when we nabbed them," Booth told TheCredit Union Journal Monday. The five suspects, all former membersof Detroit gang known as the Blue Stone Motorcycle Club, wereidentified as: Timothy O'Reilly, Norman Duncan, Kevin Watson, EarlJohnson and Archie Broom. The group was also involved in at leasttwo other armed robberies, including the June 2003 hold-up of anarmored car delivering cash to Comerica Bank in which $170,000 wasstolen, according to the FBI. On the day of the credit unionassault, the heavily armed suspects, wearing black clothing andhoods over their faces, stormed the cash delivery truck around 4am, then grabbed bags of cash, before fleeing in a hail of bulletsin a min-van. Police arrived at the scene to find two of thetruck's guards had locked themselves in the steel encasement tokeep the robbers out, while the third guard, 30-year-old NormanStephens, a father of six, was dead on the ground outside thetruck. Stephens had been carrying cash to the ATMs when he was shotthree times by two of the suspects.
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Susan Riel, who helped found Eagle Bancorp nearly three decades ago, will step down as CEO in 2026. The bank is embarking on a search for her successor.
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The credit union partnered with Happy Money's digital lending and participations platform. TruMark has purchased, but not sold, participations for the past five years.
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The Consumer Financial Protection Bureau has seen a rapid drop in the effectiveness of its cybersecurity program, according to a new report from the Fed's Office of Inspector General.
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In her first public appearance since President Trump moved to fire her from the Federal Reserve Board of Governors, Fed Gov. Lisa Cook reiterated her commitment to bringing inflation under 2% and said that the labor market remains "solid."
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Financial literacy advocate John Hope Bryant has joined with a Los Angeles-based developer in an effort to raise up to $300 million from banks to preserve and construct low-income housing around the country.
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AI is transforming legacy modernization efforts as Wells Fargo builds systems for agents to take on humanlike tasks and interact with one another.
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