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.
-
Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.
8h ago -
The application follows on the heels of Circle and Wise, as crypto and payment companies seek crypto custody approval and direct access to the Federal Reserve payment system.
8h ago -
The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.
9h ago -
Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.
10h ago -
Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.
11h ago -
A federal judge in New York has rejected Huawei's effort to toss charges alleging bank fraud, sanctions violations and trade secrets theft.
July 2