EDINA, Minn. - (01/11/05) -- Authorities said they are confidenta local man captured after allegedly robbing Real Financial Center(Realtors CU) last Friday is the Fishing Hat Bandit who menacedarea credit unions and banks during 23 robberies over the past 18months. The serial robber, named for his choice of headgear duringmany of the heists, was identified as John Whitrock, 56, ofBurnside, who was charged Monday with a single count of aggravatedrobbery. But authorities are expected to add additional counts,according to Paul McCabe, special agent for the FBI. "Based on theinvestigation to date, evidence has been developed that allegedlyties Mr. Whitrock to multiple bank and credit union robberies inthe Metropolitan area," McCabe told The Credit Union Journal. "Weare confident that the suspect known as the Fishing Hat Bandit isno longer a threat to the community." Whitrock was captured afterFriday's hold-up when the manager of the credit union, DeanWickstrom, chased him across the street and into a nearby parkinggarage, while calling police on his cell phone. Wickstrom saw himget into a car and police towed the car out of the garage and foundWhitrock in the trunk with $4,683 stolen from the credit union. Thebandit is also believed to have robbed: Minnesota Building TradesFCU, Minnesota's CU, Highgrove Community FCU (twice), RetailEmployees CU, Teacher FCU, Twin City Co-Op FCU, St. Paul Retail CU,Minnesota Building Trades FCU and City-County FCU (twice); withonly two of his state-record 24 robberies of non-creditunions.
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Two former members of the Federal Open Market Committee said in interviews that they expect the Federal Reserve to keep rates steady amid uncertainty over the ongoing war with Iran and the resulting upward pressure on inflation.
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Goldman Sachs Chief Legal Officer Kathryn Ruemmler received an 11% pay hike last year, bringing her total compensation to $25 million; U.S. Bank promoted Toby Clements to chief operations officer; Klarna is expanding its forward-flow and whole-loan sale deal with Elliot Investment Management to $2 billion; and more in this week's banking news roundup.
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Carter Bankshares in Martinsville, Va., sold more than $200 million of loans made to companies controlled by Sen. Jim Justice and his family, closing out a once close relationship that later descended into rancor and litigation.
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The Federal Deposit Insurance Corp.'s Office of Inspector General said in a Thursday report that staffing cuts over the past year could strain supervision and the agency's response to a crisis.
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The latest rise in property tax collections at the end of last year continued a nine-quarter streak of increases, according to the National Association of Home Builders.
March 27 -
American Banker data finds that regulatory clarity is the top ask from executives holding back on adoption planning.
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