BERLIN, N.H. - Guardian Angel Credit Union here has filed suit against MetaBank claiming a $99,000 CD it purchased from the bank in 2005 was phony. The action follows similar suits by two Texas banks alleging the same thing. In its filing, GACU alleges that a former employee of MetaBank, identified as Charlene M. Pickhinke, sold fraudulent CDs to investors by actually depositing the funds in her own account. An earlier SEC filing by MetaBank said as much as $4.2-million may be outstanding as the result of Pickhinke’s alleged actions. (c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com http://www.sourcemedia.com
-
Business First Bancshares CEO Jude Melville and Progressive Bancorp head George Cummings are both second-generation bank CEOs — common ground that helped propel an $83 million merger deal.
9h ago -
A district court judge this week has denied allowing four groups — the American Fintech Council, Financial Data and Technology Association, Financial Health Network and Public Citizen — to file legal briefs in support of a rule on financial data rights.
10h ago -
The bank worked with Atomic to embed the digital payroll deposit manager into its mobile banking app.
10h ago -
French bank BNP Paribas is launching a U.K. fintech incubator that will host generative AI startups that have developed applications for banks.
10h ago -
Joe Heck, Zip Co.'s U.S. CEO, spoke with American Banker about recent criticisms of the BNPL industry as more consumers turn to it for purchases both big and small.
11h ago -
The parent company of Wayne Bank said it would buy PB Bankshares for $54.9 million in cash and stock.
July 8