PRINCETON, N.J. - (09/23/04) -- A former employee at PrincetonEmployees CU has agreed to plead guilty to stealing $675,000 fromthe credit union. The employee, Janie Allen, 45, of LibertyTownship, has been charged with aggravated theft, tampering withrecords, and forgery, and faces up to five years in prison. Theembezzlement occurred between May 2003 and January 2004, accordingto police.
The child of a slave grew up to become the first woman to open a bank in the U.S., and pioneered community banking for Black communities.
Life insurers have offloaded long-term policyholder liabilities into offshore reinsurance and captive subsidiaries, raising concerns over state oversight of opaque investment vehicles and whether insurers have adequately funded claims.
The D.C. Circuit Court of Appeals halted the Trump administration's attempt to fire nearly two-thirds of the Consumer Financial Protection Bureau's workforce, upholding a March 2025 injunction.
JPMorganChase wants to expand its digital bank offerings to three more European countries, according to a new Financial Times report; M&T Bank Corp. elects Jerry Jacobs Jr. to the board of directors of both its parent and banking subsidiary; Citizens Financial Group names Chris Emerson as head of investor relations; and more in this week's banking news roundup.
Banks that don't embrace embedded payments now risk losing out to more nimble rivals in the near future.
Anthropic's head of banking told New York Banking Summit attendees that the future is agents that operate autonomously alongside employees.
