POUGHKEEPSIE, N.Y. - (05/01/06) A former clerk at Hudson ValleyFCU pleaded guilty Friday to grand larceny for using the creditunions computer to siphon $98,000 from a membersaccount then wiring the funds online to banks in France, China andSpain. The ex-clerk, identified as 20-year-old Christopher Renzo,of nearby Pleasant Valley, then had the overseas funds convertedinto electronic money orders and deposited into his own creditunion account. In return for his guilty plea, Renzo was promised asentence of five years probation and agreed to payrestitution.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
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.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
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.
July 3 -
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.
July 3 -
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.
July 3