SYRACUSE, N.Y. - (11/16/04) -- The former head of lending atUpState FCU, now known as AmeriCU, was sentenced last week to 33months in prison and ordered to pay $313,000 in restitution for hisrole in a scheme that siphoned $1.2 million form the credit unionin phony loans. John Matrulli, 59, of New Hartford, was convictedin May of 17 counts of making false entries in the credit union'srecords, three counts of receiving illegal gratuities, and onecount of conspiracy to defraud a credit union. Matrulli, who servedas vice president of lending for the credit union for 10 years,until March 1999, was found guilty of falsifying credit union loanrecords to two borrowers, and accepting bribes from thoseborrowers.
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The top five bank holding companies have combined total credit card loan portfolios of more than $705 billion.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 - Yahoo Finance Feed
The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
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A panel at CBA Live explored the contract provisions banks need to consider before embarking on new banking-as-a-service relationships and what catches their eyes in consent orders from banking regulators.
March 27