SAN FRANCISCO - (03/14/05) -- A federal appeals court ruled lastweek that police officers did not violate two women's civil rightswhen they intervened in a fight over a credit union's repossessionof a car. The Ninth Circuit Court of Appeals ordered that the civilsuit be dismissed against the Redwood Police over the 2001 incidentin which a repo man was sent by San Mateo County Employees CU totake possession of a car, which caused a fight with the car owner.After police broke up the fight the car owner sued claiming her14th Amendment right against being deprived of property without dueprocess of law, and her Fourth Amendment right to be free ofillegal search and seizure, were violated. But the appeals courtruled that the fight wasn't conducted under the officers' purview;that police hadn't been alerted of the repossession in advance; andwere only asked to stand by to ensure that the repossession wentsmoothly.
-
First Northwest Bancorp in Port Angeles has selected an Everett, Washington-based competitor's president to serve as its new top executive.
September 12 -
The Charlotte-based megabank announced that it had appointed two business leaders to be co-presidents of the bank, and elevated its chief financial officer to serve as executive vice president.
September 12 -
The Massachusetts bank is being accused of aiding and abetting the operation of a Ponzi scheme centered in Hamilton, New York. The bank declined to comment on the allegations.
September 12 -
City National Bank promotes Brandon Williams to head private banking and wealth management; a former U.S. Postal Service letter carrier is sentenced to five and a half years for stealing over $10 million in checks from the mail; Lazard expands its North American investment banking franchise with two managing director hires; and more in this week's banking news roundup.
September 12 -
The government-powered network is allowing larger payments to settle instantly, a move The Clearing House has also made for its RTP network. Payment experts say more than higher limits are needed to make speedy processing ubiquitous.
September 12 -
The world's largest stablecoin issuer is preparing to launch USAT, its U.S.-regulated, dollar-backed stablecoin, by the end of the year, Tether CEO Paolo Ardoino told reporters at an event in New York. Bo Hines was also named CEO of USAT.
September 12