CINCINNATI - (11/30/05) -- A former loan officer at U.S.Employees Butler County FCU pleaded guilty Monday to stealing morethan $240,000 from the credit union through a phony loan schemewhich he used to sell cars to subprime customers who weren'tmembers of the credit union. Nathan Marcum, 68, used the creditunion loans to buy cars over the Internet, then recruited localbuyers who were not credit union members, and sold them the cars atgreatly inflated prices. Then he set up phony loans at the creditunion to let the buyers pay for the cars. Marcum concealed theloans from credit union officials by manipulating the monthlytreasurer's report, prosecutors said. Marcum deposited the proceedsfrom the loan directly into his own credit union account. He thenreimbursed himself for the original purchase price and pocketed theprofit, using the credit union as a financing arm of his personalbusiness.
-
While banks will likely increase near-term dividend plans, analysts and investors are more focused on the long-term outlook for capital requirements from regulators.
6h ago -
The Missouri bank surveyed consumers about what kind of financial management tools they use, then built its My Finance360 tool in response.
7h ago -
GodFather malware mimics and manipulates real financial apps on Android devices, exposing sensitive data without user suspicion.
9h ago -
As banks consider their strategies, other big names are also considering a role for digital assets.
10h ago -
The Financial Technology Association — which had been granted the right to defend the Consumer Financial Protection Bureau's open banking rule after the bureau declined to defend it — filed a motion Sunday to preserve the rule.
11h ago -
Kevin Fromer, who has headed the Financial Services Forum since 2017, announced his departure Monday. Fromer transformed the Financial Services Forum to advance the interests of the largest U.S. banks.
June 30