MILWAUKEE - (12/03/04) -- A suspect in as many as a dozenkidnap-robberies was finally captured last week when Milwaukeepolice arrested him and a partner as they showed up to exchangetheir latest kidnapping victim for ransom. After his arrest,26-year-old Lamar Ray told FBI agents that he'd mastermindedsimilar crimes, beginning in 2001 when he targeted two employees ofthe Educators CU. But both attempts were botched. In one instance,an employee was shot in the shoulder. In the other, the employeewas tied up in her own garage and forced to hand over the keys, butRay told investigators he couldn't get them to work. Ray toldauthorities he learned from his mistakes in the failed credit unionincidents a year later, when he kidnapped the manager of anotherEducators CU branch, then he tied up her husband and son, beforeforcing her to open the credit union. He used the same plot insimilar robberies at Checkland and Check Cashers last year, policesaid.
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A White House executive order issued Friday afternoon directing regulators to ease Dodd-Frank compliance burdens comes as a bipartisan housing bill advances on Capitol Hill.
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The bank and fintech entered an agreement to expand open banking ahead of the CFPB's new 1033 rule and announced joint fraud-combatting product improvements.
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A federal judge wrote in an opinion that a "mountain of evidence" suggests the subpoenas were an effort to push Federal Reserve Chair Jerome Powell to lower interest rates or resign.
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Investors claim JPMorganChase collected fees while ignoring suspicious transfers linked to a $328 million crypto Ponzi scheme.
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Federal bank enforcement actions have dropped sharply since the start of the second Trump administration, but experts' views vary about whether less enforcement will result in a buildup of risk in the financial system.
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Billy Beale, who was hired to clean up Virginia-based Blue Ridge Bankshares after its failed foray with fintechs, has left the $2.4 billion-asset company. His successor is Harry Golliday, who was named interim CEO.
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