PHILADELPHIA - (05/09/05) -- A federal judge rejected a plea todismiss a suit by a former executive at American Heritage FCU underthe Family and Medical Leave Act whose job was eliminated in acorporate restructuring. Dennis Heron, former vice president ofmarketing, claims he was demoted the day he returned in October2001 as punishment for taking a three-month leave for depression.Lawyers for the credit unions claim Heron took the leave due towork-related stress. Heron claimed when he returned he was given 24hours to decide whether to accept the newly created position ofmarketing manager at a $20,000 pay cut, so he refused the demotion.The credit union claims the job of vice president for marketing waseliminated as part of a restructuring of the marketing department.U.S. District Court Judge Petrese Tucker said in order to succeedin an FMLA claim Herron must prove he suffered an 'adverseemployment decision'; and that the adverse decision was 'causallyrelated' to his leave.
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Sen. John Kennedy, R-La., asked acting Federal Deposit Insurance Corp. Chair Travis Hill, who has been tapped to lead the agency permanently by President Trump, for a report within 30 days about progress made in the agency's sexual harassment scandal, saying his vote is contingent on that report.
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During Thursday's earnings call, CEO Michael Miebach said the payment company is partnering with large technology firms and offering consulting for the emerging form of artificial intelligence, attempting to expand a strategy to draw revenue beyond card processing.
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In comment letters on the Consumer Financial Protection Bureau's new rulemaking on personal financial data rights, consumers begged the agency to protect their data from misuse.
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A Luxembourg court ruled against the bank in a long-running lawsuit tied to its custodial role for a fund that invested in the massive Ponzi scheme.
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The Federal Open Market Committee voted to reduce interest rates by 25 basis points Wednesday, but the emergence of dissents on the committee makes the chance of another quarter-point cut in December less certain.
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American Banker's 2025 Small Business Banking conference yielded lessons about the need for speed, simplicity and safety in small-business lending. Other key takeaways included the significance of digital payment options and the importance of continuing to process SBA loan requests during the government shutdown.
October 29





