COLUMBUS, Ohio - (09/06/05) -- A man convicted in six kidnap-stylerobberies at credit unions, banks and check casher--including thebiggest credit union heist ever-- was sentenced Friday to 147 yearsand eight months in a federal prison. Gary Watkins, 41, wasconvicted in May, of staging a string of robberies with hisbrother, Eric Watkins, that included the kidnap-style robbery atWestern CU in July 2003, in which they stole $643,000, believed tobe the most ever robbed from a credit union. The gang was alsobelieved to be responsible for the May 2003 robbery of $145,000from Whitehall CU, and several other heists, with a total take ofmore than $1 million. Also convicted in the gang were: Frankie LeeJones, Gary Watkins' brother-in-law, and Jones' brotherDarryl.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
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St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
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The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.
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