DOTHAN, Ala. – The former chief financial officer at Wiregrass FCU was sentenced last week to 15 months in prison for stealing $137,000 from the credit union.
Becky Hughes, 49, pleaded guilty March 25 to misapplying funds from the credit union between 2000 and January 2008. She admitted opening several Wiregrass Visa credit card accounts in her name and in the names of relatives.
She will turn herself in Sept. 14 to start serving her sentence.
New York's Arrow Financial and Pennsylvania's First Commonwealth Financial were seeing their insurance revenue grow before they announced agency purchases this week. Prior to 2025, banks were shedding their insurance agencies.
The AI company has debuted ChatGPT for Financial Services, an enterprise tool that may threaten the role of junior analysts at investment banks.
The USA Patriot Act passed on an overwhelming bipartisan basis in the wake of the 9/11 attacks, overhauling banks' involvement in anti-money-laundering efforts.
The institution tested USBDC in an international payment ahead of a wider rollout and amid its work on the cross-industry Open Standard stablecoin project.
The global rise of online gambling has created a range of new money-laundering risks for banks and other companies, according to the Financial Action Task Force, an international standard-setting organization.
Federal banking regulators say as many as 188 community banks may qualify for the extended exam cycle following implementation of the measure, which is required as part of the recently passed housing bill.
