ROCKFORD, Ill. - (07/24/06)A former branch manager for ABDFCU in nearby Belvidere was sentenced Friday to four months infederal prison, followed by four months of home detention and threeyears supervised release, for embezzling $31, 532 from the creditunion. James Welin was also ordered to repay the funds and fined$500. Welin confessed to stealing cash from his drawer by forgingmembers names on withdrawal slips between March 1999 andAugust 2001. He attempted to conceal the embezzlement by markingsome of the customer accounts no mail to preventmonthly statements from being mailed.
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The bank asks a federal court to toss claims from five certified classes, arguing victims have been paid and that fraudsters are included in the suit.
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BNY's Carolyn Weinberg believes blockchain technology could be the key to an always-on operating system for the New York-based custody bank.
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The Richmond, Virginia-based bank expects to build 10 branches in Raleigh and Wilmington, North Carolina, over the next three years. M&A is on the back burner as the company also works to capitalize on its recent acquisition of Sandy Spring Bank in Maryland, CEO John Asbury said.
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The North Carolina bank is the latest lender impacted by the bankruptcy of U.S. auto parts maker First Brands. First Citizens executives said credit was in good shape overall.
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The agents could overcome the consumer inertia that keeps people in low-yield bank accounts, the consultants say.
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The credit card issuer added two programs with home goods retailers Raymour and Flanigan and Bed Bath and Beyond during the quarter while also increasing its stock buyback allocation and dividend payouts.
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