MENASHA, Wis. – A desperate member of Prospera CU was charged with extortion last week after he left a note at the credit union threatening to explode a bomb if the credit union didn’t pay him $3 million. The suspect was deeply troubled after losing his job a few days earlier, and his wife is terminally ill, according to police. Officers used surveillance camera footage to identify a suspect and then surrounded his home and talked him into surrendering. Police say no explosives were detected.
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There are several options for smaller banks, including working with an agent bank, according to payment experts.
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The sixth bank failure this year shows that even as the industry overall is very profitable, there are pressures on a lot of banks that aren't the biggest.
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Bankers have taken out ad buys against incumbent Republican Senator Roger Marshall of Kansas as he struggles to hold what has traditionally been a ruby-red Senate seat.
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The $736 million Orange County bank had faced a smattering of enforcement actions over the years, including for concentration risks, governance issues and questionable insider transactions.
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As the U.N. renews its call for $1.3 trillion a year in climate finance, four leaders in climate finance say the biggest question for advisors is where that money goes.
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The National Association of Insurance Commissioners responded to a query from Sen. Elizabeth Warren about risks to policyholders stemming from private-equity ownership of life insurers.
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