NORFOLK, Va. - (05/03/06) A former school administratorwas sentenced Tuesday to six years and six months in prison for herrole laundering money for an interstate drug ring. PamelaHoffler-Riddick was convicted of money laundering through heraccount at Virginia Educators CU, which prosecutors said she usedto help a drug dealer buy a car. Hoffler-Riddick, 43, was one of 40people charged in connection with a ring that federal agents saiddistributed $20 million in marijuana and cocaine between 1996 and2004. Before her arrest, Hoffler-Riddick was regional assistantsuperintendent in Prince George County, Md., outside of Washington,D.C.
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A federal judge ruled that acting Consumer Financial Protection Bureau director Russell Vought unlawfully refused to request agency funding from the Federal Reserve Board, dealing a procedural blow to a legal argument that the Fed can only fund the CFPB when it turns a profit.
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A White House executive order issued Friday afternoon directing regulators to ease Dodd-Frank compliance burdens comes as a bipartisan housing bill advances on Capitol Hill.
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The bank and fintech entered an agreement to expand open banking ahead of the CFPB's new 1033 rule and announced joint fraud-combatting product improvements.
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A federal judge wrote in an opinion that a "mountain of evidence" suggests the subpoenas were an effort to push Federal Reserve Chair Jerome Powell to lower interest rates or resign.
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Investors claim JPMorganChase collected fees while ignoring suspicious transfers linked to a $328 million crypto Ponzi scheme.
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Federal bank enforcement actions have dropped sharply since the start of the second Trump administration, but experts' views vary about whether less enforcement will result in a buildup of risk in the financial system.
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