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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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
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The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
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At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
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Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
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The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
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Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
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