Branch Manager Charged InEmbezzlement

Published December 10, 2004, 1:00 a.m. EST

|

Updated August 27, 2020, 2:37 a.m. EDT

1 Min Read

ANCHORAGE, Alaska - (12/10/04) -- A former branch manager of AlaskaAirlines Employees FCU was charged with stealing more than $627,000from the credit union over 10 years. The former employee, MarilynPeterson, 57, was charged with using members' names and funds toget loans, as well as stealing $120,000 in cash from the creditunion's vault last June. Authorities allege Peterson hid her schemeby changing address forms for members' statements, which divertedthe statements from the members.

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Regulation and compliance

Formerly 'troubled' bank reaches truce with activist investor

Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.

By Nathan Place
National Reporter

March 20
Charter conversions

UBS gets OCC approval for national bank charter

Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.

By Kate Berry
Reporter

March 20
Minimum capital requirements

Fed Basel rules offer upside for banks, but impact unclear

Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.

By Maria Volkova
Reporter

March 20
Custody banks

The case for banks to offer digital asset custody

Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.

By Melinda Huspen
Tech Reporter

March 20
Cyber attacks

Iran-linked cyberattack prompts Microsoft Intune warnings

CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.

By Carter Pape
Technology Reporter

March 20
Industry News

Piermont hires Day, ABA's fraud directory goes global

Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.

By Traci Parks
Copy editor, American Banker

March 20