ALEXANDRIA, Va. - (06/10/05) -- A former accounting clerk and loanofficer who was convicted of stealing $265,000 from Georgia PowerNorthwest FCU , was among eight individuals banned by NCUA from thecredit union industry Thursday. Kristi Brooks confessed toembezzling the funds from the Rome, Ga., credit union, in 58transactions between January 200 and June 2003. Also banned were:Vivian Gonzalez, former manager, and Danilla Swindle, former loanofficer, at Fitters Local 58 FCU, Colorado Springs, Col.; MichaelHayes, former chairman of the board at Utica Cutlery Employees FCU,Utica, N.Y.; Marc Miller, former vice president of Arrowhead CU,San Bernardino, Calif.; Rose Rodriguez, former employee of TropicalFinancial CU, Miami; David Smith, former board chairman ofPennsylvania Central FCU, Harrisburg, Pa.; and Lois Thomas, formerbranch manager at Louisiana Public Health Workers FCU, Metairie,La.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
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St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
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The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.
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