SAN DIEGO - (08/30/05) -- An outside contractor for MissionFCU pleaded guilty last week to stealing more than $2 million incash he was supposed to be transferring from the credit union'svaults to its ATMs. Under a plea agreement, Jacob Johnson, a formeremployee with Advanced Networks Inc., agreed to repay the stolenfunds to the credit union. Prosecutors said Johnson stole the cashbetween December 200 and October 2004, then falsified documents tocover his tracks. He is scheduled to be sentenced on Nov.7.
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To address a budget deficit, the state of Washington has begun taxing credit unions that buy banks. Critics say there's just one problem: The tax will deter any such acquisitions from happening.
56m ago -
Kohler Credit Union, Think Bank and Communication Federal Credit Union gave their onboarding and direct deposit tech an upgrade through fintech partnerships.
56m ago -
Some distressed companies that tapped the Federal Reserve's Main Street Lending Program say they've been crushed by the agency's hardline stance on modifications.
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Threat group ShinyHunters claimed responsibility for the attack, which reportedly targeted third-party platforms rather than Betterment's own systems.
February 6 -
Artificial intelligence developments are stoking investor fears about software companies. Banks' limited exposure to the sector and general stability is proving attractive to investors.
February 6 -
Prosperity Bancshares finalizes the second of three acquisitions it's announced since July; Sumitomo Mitsui Banking Corporation appoints a new chief information security officer for its American operations; Huntington Bancshares, Third Coast Bancshares and Heritage Financial completed acquisitions; and more in this week's banking news roundup.
February 6





