CARSON CITY, Nev. (07/25/06) -- A federal appeals court has reaffirmed an earlier ruling that a former member of Nevada FCU who spent 12 years in prison, was wrongly convicted for check fraud, and she now plans to file a civil rights case for damages. A Las Vegas attorney representing 59-year-old Joni Goldyn said the former credit union member will be seeking damages for her years in prison and her children will be seeking damages for loss of consortium. In its ruling, the 9th Circuit Court of Appeals in San Francisco said it is without question that Goldyn bounced checks on her credit union account, which she opened under an assumed name, but noted that Goldyn, a habitual gambler, also had a check guarantee card, requiring the credit union to cover her checks. The appellate court said though Goldyn was charged with writing bad checks the credit union was obligated to cover them and so “the bottom line is that the checks Goldyn wrote were not bad, and the merchants who accepted her checks were not injured; they were paid in full.” The court said the credit union could have tried to collect its money from Goldyn using debt collection procedures to recover what amounted to a loan, “but failure to repay a loan is not a crime; the days of imprisoning insolvent debtors are long gone”. Goldyn was convicted of writing five bad checks on the Las Vegas credit union and, because she had four previous fraud-related convictions, was sentenced to multiple life terms as a habitual criminal. She won a pardon in 1999 and was paroled in 2001 and placed on lifetime parole after her lawyer said she reformed herself in prison, earning two college degrees and forming a Gamblers Anonymous group behind bars.
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JPMorganChase and Bank of America raised concerns about the proposed removal of risk-weighted assets from the denominator of the short-term wholesale funding component of the GSIB surcharge — changes backed by Goldman Sachs and Morgan Stanley.
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House Speaker Mike Johnson, R-La., reportedly plans to send the recently passed housing bill to the White House on Monday, starting a 10-day clock for the president to sign the bill.
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The global payments platform, which recently expanded to the U.S., also plans to build new autonomous finance and agentic commerce products.
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A new lawsuit seeking class-action status alleges that FirstBank Puerto Rico knowingly facilitated Jeffrey Epstein's sex trafficking operation by failing to enforce basic anti-money-laundering and know-your-customer rules.
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Pinnacle Financial Partners' headquarters is moving to a new 25-story office tower in Midtown Atlanta; New Jersey-based Provident Bank appoints Adriano Duarte to succeed Thomas Lyons as chief financial officer; Binance will shut down services for customers in France, Italy, Spain and Poland after the exchange withdrew its MiCA licence application in Greece; and more in this week's banking news roundup.
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The bank is part of a trend of financial institutions trying to streamline a complicated industry that paper has dominated for years.
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