COLORADO SPRINGS, Colo. - (10/11/05) -- A 64-year-old man was charged lastweek with using bomb threats to steal almost $50,000 during tworecent credit union robberies. A former roommate and two used carsalesmen were credited with helping nab Leonard McGraw, whoallegedly threatened to use bombs to rob Fitters Local 58 FCU ofmore than $47,000 on July 22, then to steal more than $2,000 fromthe Pentagon FCU branch on Sept. 29. Two salesmen at Perkins Dodgecalled police last week after they recognized the suspect insurveillance photos as the man who tried to trade-in his Dodgepickup, believed used as the getaway car. The suspect told thesalesmen his credit was poor so he was going to pay cash for twonew vehicles. McGraw's former roommate later told the FBI he wassure McGraw was the robber. The devices the suspect left behind atthe two credit unions are being tested to see whether they couldhave exploded.
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Chair Travis Hill said SVB showed banks can't always sell securities fast enough to cover deposit outflows, but acknowledged the "stigma problem" with discount window borrowing remains unsolved.
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At a conference in New York, Joseph Otting reflected on the difficult hiring decisions he made early in his tenure heading Flagstar Bank, which just two years ago was on the verge of collapse.
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Back-office automation fintech BILL Holdings is using JPMorgan Payments white-label digital wallet to subledger its own clients' accounts. Reconciling client payments for BILL's corporate card, the BILL Divvy Card is the company's first use case.
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Like the Olympics, the event is used to push and measure engagement and appetite for emerging checkout options.
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The Treasury's Financial Crimes Enforcement Network and federal banking and credit union agencies limited issuers' know-your-customer obligations to direct-to-consumer services, preliminarily rejecting a "global" customer due diligence requirement they say is unfeasible.
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The bank is following in the footsteps of Goldman Sachs, which made a similar move in April.
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