PHOENIX - (12/29/05) Desert Schools Federal Credit Union hascome to the resuce of several families who have been displaced hereduring the holidays by Hurricane Katrina. The credit union joinedwith the Salvation Army and its Adopt-A-Family program to bringpresents and other holiday joy to the displaced families. For some,this included a computer donated by Desert Schools, as e-mail hasbeen a primary means of contact with families either back home ordisplaced to other cities. Through the course of the project, 20families received over $4,000 worth of donated toys, clothes andother useful items. Five of those families indicated a need for acomputer and were provided one.
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Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.
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The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.
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Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.
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Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.
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A federal judge in New York has rejected Huawei's effort to toss charges alleging bank fraud, sanctions violations and trade secrets theft.
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