WILMINGTON, Del. - (03/11/05) -- A former treasurer for U.S. SenatorJoseph Biden's reelection campaign was sentenced to three years inprison Thursday for stealing more than $412,000 from the DelawareDemocrat's campaign treasury and laundering some of it to hiscredit union account. Roger Blevins, III, 34, pleaded guilty to onecount of interstate transportation of stolen property in connectionwith last April's transfer of $80,000 of the funds to his accountat Fairwinds CU in Orlando, Fla. The former assistant campaignmanager for Biden spent the senator's money "to fund his ownpersonal fantasy," according to Assistant U.S. Attorney April Byrd.Blevins spent the money on three individuals he met through a gaypornographic web site, where visitors could watch and interact withthe performers in Florida. Blevins made 23 unauthorized transfersfrom the campaign treasury, the largest of which went to his creditunion.
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A housing bill that already passed the Senate cleared the House Monday evening, but included bipartisan community banking provisions that have already raised objections in the upper chamber.
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Fifteen banks have failed since November 2019, with the most recent one occurring on Jan. 30.
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The Government Accountability Office was tasked with investigating the Consumer Financial Protection Bureau's stop-work order, but CFPB officials refused to meet with or provide information to Congress' investigative arm.
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Federal Reserve Gov. Christopher Waller said comments from banks and fintech firms reveal sharply different priorities in the creation of the central bank's proposed "skinny" master accounts.
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Check fraud has risen 385% since the pandemic, with criminals using stolen mail and digital tools to deceive major financial institutions.
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The activist investor HoldCo Asset Management said Monday that it doesn't plan to pursue proxy battles this spring at either Key or Eastern. It had been agitating publicly over the banks' M&A strategies.
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