ALEXANDRIA, Va. - (01/09/06) The former manager of FairleighDickinson University FCU was banned from the credit union industryby NCUA Friday for embezzling about $2.2 million by opening a dozenaccounts under phony names, including one in the name of his cat.Daniel Doyle, Jr., 60, who confessed to using his teller code toopen accounts under several aliases, including Cocoa Tin, his cat,was sentenced in October to 46 months in prison and ordered to pay$1.7 million in restitution, the loss the credit union was able todocument. Also banned by NCUA Friday were: Marabeth Peets, formeraccounting supervisor at Sea Comm FCU, Massena, N.Y., forembezzling more than $410,000 from the credit union: KatherineWright, former manager of Texas First United FCU, for stealing$86,000 from the Forth Worth credit union; and Tracy Mayshack,former employee at Industrial CU, for theft of $60,00 from theWhatcom County, Washington, credit union. NCUA also banned: BonnieBlaising, former employee at Reliable FCU, Fort Wayne, Ind.; AmandaOlney, former teller at Syracuse Postal FCU, Syracuse, N.Y.; andJoyce Miles, former loan manager at ASHE FCU, Little Rock,Ark.
-
The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
April 18 -
The first-quarter increase involved commercial real estate loans, including some problematic multifamily loans and an office credit, but none of the criticized loans were to consumers, officials at the Dallas company say. Further CRE deterioration is anticipated.
April 18 -
The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
April 18 -
The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
April 18 -
Charge-offs and nonperforming loans rose at the Georgia bank in the first quarter. But it blamed the problem on one large client and said the matter has been resolved.
April 18 -
Amid healthy first-quarter loan growth and improving credit quality, Discover Financial Services slashed its profits by $800 million to offset remediation costs from a 16-year period when it overcharged certain merchants.
April 18