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.
The Federal Reserve's new chair wants to change the way the central bank communicates with markets and the public. What those changes ultimately amount to could represent a major shift in an agency that has made transparency a guiding light for decades.
The Senate passed a bipartisan housing package, which includes certain community bank provisions, in an 85-5 vote. The House is set to vote on the package Wednesday.
The former New York governor will chair a new effort aimed at tokenizing financial products on chain and bringing 24/7 digital trading to NYSE-listed assets.
The service is an alternative to an IPO or a special-purpose vehicle, the bank says.
The company's forthcoming stablecoin, PAYO-USD, is designed to spur increased transaction volume revenue rather than interest income on reserves, a model championed by most stablecoin issuers.
The Bank of England's new guidance changes restrictions following criticisms and concerns about U.S. dominance.
