HONOLULU - (11/23/04) -- A local car dealer beinginvestigated for fraud by state authorities filed for Chapter 7bankruptcy earlier this month, leaving hundreds of thousands ofdollars in unpaid debts with area credit unions. Among those leftholding the bag by Jason Kim was Hickham FCU, listed on the federalbankruptcy petition as the biggest creditor of Kim's owner Dae HanAutos, with claims of $534,000, including car loans, a personalloan and credit card debt. Authorities are investigating claimsthat Kim accepted down payments and trade-ins for cars but failedto deliver the vehicles. The bankruptcy petition lists 101creditors with claims exceeding $1 million. Officials at HickhamFCU did not return phone calls seeking comment.
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Powered by younger, affluent cardholders, American Express saw a 6% increase in billed business during the first quarter, while weak growth still plagues its small-business segment.
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For the better part of the past decade, the Federal Reserve Board in Washington has played a more active role in presidential searches by regional reserve banks. The shift seems to have made the system more diverse, but some argue it's at the expense of regional bank independence.
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Beth Johnson, a self-described math geek, is driving the bank's ESG strategy and training its employees to keep pace with industry trends.
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The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
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