FAIRFIELD, Ct. - (01/17/05) -- A former branch manager for GeneralElectric Employees FCU here was led away in tears Thursday after asuperior court jury convicted her of stealing almost $22,000 fromthe branch ATM. Olga Villafane burst into tears as the jury foremanannounced a verdict of guilty to charges of first-degree larceny byembezzlement. Prosecutors said Villafane looted the machine acrossthe hall from the credit union branch at GE headquartershere.
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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.
10h 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.
10h 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.
11h 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.
July 2 -
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.
July 2 -
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