BATON ROUGE, La. - (03/16/06) A local woman who was scheduledto report to prison in a matter of 10 days after being convicted ona half-million-dollar tax fraud, tried to deposit a phony $69,700IRS check using her fathers Social Security number into anaccount at Key Point FCU, authorities said. Sherrie Benson, 32,pleaded guilty Tuesday to illegal use of a Social Security number.She faces up to five years in prison on the charge, and anadditional 10 years because she committed the crime while onsupervised release. On Tuesday, Benson admitted she used herfathers Social Security number five times to get creditunion loans to but two Porsche Boxsters, a home mortgage, and aperson loan, as well as open a new business account at the creditunion.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
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St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
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The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.
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