TRENTON, N.J. - (09/05/05) -- The former president and CEO of theNew Jersey CU League was indicted Friday on charges of embezzling$275,000 from the state trade association. Thomas Shaughnessy, 44,of Red Bank, is accused of stealing the funds between March 2002and September 2004. Meantime, Shaughnessy has filed suit againstthe league claiming he should have been paid a severance packagewhen he was fired last October.
What was once a bipartisan and broadly popular housing bill has been weighed down with a pair of provisions that banks can't support. Even with those headwinds, the bill is more likely than not to pass, but not without drawn-out negotiations between the House and Senate.
Federal Reserve Gov. Michael Barr said in a speech Tuesday afternoon that he wants to see a durable and reliable reduction in consumer price inflation before he considers cutting the central bank's interest rates.
B2 Bank in Minnesota, which recently exited a regulatory action in connection with its banking-as-a-service business, announced the hires of a new CEO and two other senior executives.
The company's investment advisory subsidiary was dinged for failing to properly disclose that its allocation of certain client assets represented a conflict of interest.
Western Union CEO Devin McGranahan said at the Digital Asset Summit in New York that stablecoins were a great way to earn float revenue on money moving through its network. But the possibilities didn't end there.
The payment firm's P2P app, which has only been available in the U.S., will provide a new lane for remittances and other cross-border payments.
