AMARILLO, Texas - (10/09/06) The former president ofBurlington Northern Santa Fe CU was sentenced to more than twoyears in jail Friday for lying to investigators probing allegationsthat she and a former employee covered up $127,000 in insider loansto her family. Barbara Dunn pleaded guilty in September to makingfalse statements to a federal credit union. She was charged withmaking a false report of delinquent loans. Dunn was sentenced to 27months in federal prison and ordered to pay the credit union$127,000 in restitution. Prosecutors said Dunn ordered an employeeto change due dates on outstanding loans extended to Dunn and herfamily in order to mislead NCUA investigators by showing falselythat the loan payments were up to date, when, in fact, they weredelinquent. The employee, Sarah Lockwood, pleaded guilty Thursdayto making false statements to a federal agency.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
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The Federal Reserve has banned a Wyoming bank employee from the banking industry for embezzling more than $30,000 from a charity.
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