LOVELAND, Colo. - (07/21/05) -- An armed assailant believed to beresponsible for as many as a dozen financial institution robberies,including three at local credit unions, was arrested at his home inLas Vegas after employees at several of the institutions heallegedly robbed identified him from newspaper photographs. AlbertVaughan, 37, was dubbed the 'Front Range Bandit,' because heallegedly hit several credit unions in Colorado's Front Range,including Big Thompson FCU on March 3,and Longs Peak in Loveland,twice in 2003. Vaughan ahs confessed to all three credit unionheists, during which he brandished a pellet gun that looked like asemi-automatic pistol. IN a separate Fort Collins robbery, Vaughanstuffed the cash down the front of his pants where the dye packexploded. He was seen by a janitor in a public restroom pouringcold water on the money and dye pack. Vaughan told the FBI hecommitted so many robberies he couldn't remember all ofthem.
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Following a $60 million credit hit, the Salt Lake City bank said that it hasn't found any other related problem loans.
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The parent company of Heartland Bank and Trust plans to acquire a smaller bank based in Carlinville, Illinois. The acquisition would give the buyer added heft in Central Illinois, as well as the Chicago and St. Louis metro areas.
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Six trade groups warned the administration layoffs and funding freezes could dampen lending, threatening the administration's goal of economic growth.
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The Boston-based bank is the second bank in three months to face pressure to sell by the activist investor group HoldCo Asset Management.
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Comptroller of the Currency Jonathan Gould said in an interview with American Banker that his agency is looking at whether its own internal guidance may have contributed to a climate where banks feel the need to "cite everything" to avoid supervisory penalties.
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AlumniFi, the digital banking arm of Michigan State University's official credit union, is now an official bank partner for the NCAA's Big East conference.
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