NEW PHILADELPHIA, Ohio – The ex-president of Eastern CU admitted to embezzling more than $100,000 from the $4.5 million credit union in a phony loan scam. Dawn Smith-Wisnieski apparently siphoned the funds by creating nine fictitious loans between 2003 and 2005. The former manager used either phony names or those of non-active members. Some of the loan proceeds were used to pay personal expenses.
House Financial Services Chairman French Hill is pushing regulatory relief for banks, reforming the Consumer Financial Protection Bureau and advocating a "whole-of-government" assault on fraud.
Recurring payments for stuff like streaming content can get lost in the shuffle, creating an opportunity for the big card brands.
New survey data finds little correlation between increased AI spending and layoffs in financial services. But many executives said they expect job cuts at their companies in the next 12 months.
The stalemate over stablecoin yield leaves both sides uneasy, but ultimately favor banks.
Research, insights and data on how banks and financial institutions are using AI can now be found in a new location on American Banker.
While San Francisco had the biggest improvement in affordability for prices today versus 2019, Hartford remains in a very deep freeze, First American said.
