LOVES PARK, Ill. – The former cards services coordinator at Rock Valley FCU allegedly stole $1 million from the $75 million credit union by overstating the value of the credit card portfolio and making off with the overstated funds.
Lisa Farel allegedly conducted the scheme incrementally since 1993, according to charges filed in federal court yesterday.
Farel resigned in July, before she was suspected of wrongdoing.
As AI agents become more collaborative, creative and fast, banks need to defend themselves.
A new bill introduced by Sen. Katie Britt, R-Ala., would boost efforts to index bank regulatory thresholds in the Senate Banking Committee, where most of the focus to date has been on stablecoin and crypto.
BCB Bancorp says red ink may top $130 million in the third quarter, as its new CEO moves to address credit-quality issues.
Surveys from Fidelity and Edward Jones suggest that even clients with comprehensive plans and wealth don't always feel good about their financial future.
Nine months before the outage, the NCUA told a federal council it may no longer need the authority to examine vendors like the one that failed.
Anthropic lined up some of the biggest names in the industry for the rollout of Claude for Financial Advisors. But whether the tool is "revolutionary" or "just another integration," the hard work is just beginning for the AI firm and for its sole custody partner, Schwab Advisor Services.
