ST. PAUL, Minn. - (05/02/05) -- The Fishing Hat Bandit, who menacedmetropolitan area credit unions for a year-and-a-half, is expectedto withdraw his plea of innocence and plead guilty to some of the22 charges pending against him later this week.Fifty-seven-year-old John Whitrock, of nearby Burnside, pleaded notguilty in February to 21 robberies and one attempted robbery--16 ofthem at credit unions--in what was the most prolific string ofbanking robberies in the state's history. Authorities believe hemay have been responsible for as many as 25 robberies during an18-month spree. He is scheduled to appear in federal court Fridayfor a change-in-plea hearing. Whitrock, nicknamed for hispreference of a floppy fishing hat and deep-water waders duringmost of the heists, was arrested Jan. 7 after robbing RealFinancial CU, when the credit union manager, Dean Wickstrom,followed him during his getaway and alerted police to his hidingplace.
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Sens. Ed Markey and Ron Wyden argue that the Small Business Administration neglected to warn small firms of the risks of merchant cash advances and closed off a key "escape route" from the resulting debts.
May 15 -
In a move seen to bolster his 2028 presidential run, California Governor Gavin Newsom named Rohit Chopra, the former director of the Consumer Financial Protection Bureau, to lead a new oversight agency; a Pine Bluff, Arkansas, bank employee was sentenced to 36 months in federal prison for bank theft; a Fairfax, Virginia, security administrator has been charged with allegedly stealing more than $6.6 million from his employer; and more in this week's banking news roundup.
May 15 -
New Federal Reserve stats show most consumers carry and store paper money, even as digital payments become mainstream.
May 15 -
The Mississippi lender's pending acquisition of OFB Bancshares, the parent company of One Florida Bank, offers an entry point into the fast-growing Orlando market.
May 15 -
At some banks, executives are overpromising results and putting tremendous pressure on tech teams, leading to a range of problems.
May 15 -
Fund managers are seeking to change the way banks think about Community Reinvestment Act investing.
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