SALT LAKE CITY – Two men were arrested last week and charged with three armed robberies,–two at local credit unions–all three of which a robber fired a single shot into the ceiling to scare onlookers. William Harrison, 40, was arrested at a traffic stop and is accused of taking part in the three heist when around $19,000 was stolen. An alleged accomplice, Willie McNeil, was arrested earlier. The two were charged with the October hold-up at Mountain America CU in Layton, Chase Bank in Midvale in November, and a December heist at Cyprus CU.
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Senate Banking Committee Republicans, led by committee chair Tim Scott, R-S.C., introduced a bill that would raise the mandatory reporting threshold for certain currency transactions, a move meant to ease banks' anti-money laundering compliance obligations.
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Senate Banking Committee ranking member Elizabeth Warren, D-Mass., is urging the Federal Deposit Insurance Corp. not to approve new Industrial Loan Company charters until Congress passes a law subjecting ILCs to bank holding company rules.
2h ago -
Banks and credit unions are steering away from stablecoins chiefly due to lack of customer demand, per new American Banker research.
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The two companies are collaborating on making the digital asset private for payroll and other business transactions. While it's unusual, as the most well-known stablecoins are on public ledgers, tech firms are warming to the idea.
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Following a $60 million credit hit, the Salt Lake City bank said that it hasn't found any other related problem loans.
October 20 -
The parent company of Heartland Bank and Trust plans to acquire a smaller bank based in Carlinville, Illinois. The acquisition would give the buyer added heft in Central Illinois, as well as the Chicago and St. Louis metro areas.
October 20