ELKHART, Ind. - (06/06/05) -- An off-duty police officer who wasworking as a security guard at Michiana CU was fired last weekafter he confessed to stealing $1,000 while he was helping thebranch manager count out cash at the end of the day. Cpl. DeanCrane and several other off-duty officers had been hired atMichiana CU because of security concerns raised by employeesfollowing a May 17 armed robbery at the credit union. "However,bank officials did not count on the fox guarding the hen house," aprosecutor said of Crane. Crane resigned from the force and wascharged with theft, after he confessed and returned the stolencash. Michiana CU operates as a subsidiary of Bayer FCU, whichacquired it in a merger three years ago.
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In this week's edition of the American Banker news quiz, gauge your understanding of topics like Trump's ongoing criminal trial, alleged misconduct within the Federal Deposit Insurance Corp., industry succession planning and more.
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Many banks got shares in the lucrative payments network when it went public in 2008. Some of them are now looking to sell in order to offset losses on their sales of underwater bonds.
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Depositors are still flocking to online-only banking platforms offered by companies such as Ally, Capital One and Discover. But overall customer satisfaction took a "statistically significant" drop, according to a new J.D. Power report.
May 9 -
Executives of Allegiant, Breeze and Spirit complained to the heads of the Consumer Financial Protection Bureau and Department of Transportation that the relationships between big banks and big airlines are anticompetitive. Consumer advocates also questioned whether large airlines are delivering on promised rewards and if consumers are racking up debt to accrue miles and points.
May 9 -
The Federal Reserve Thursday released a report on its climate stress test pilot assessing the impact of climate change on big bank portfolios and found that loan defaults could increase as a result of climate events and shifts toward a lower carbon economy.
May 9 -
Banks are turning to the same hyperscalers for cloud computing and generative AI. Some wonder what the consequences will be down the road.
May 9