WILSON, N.C. -- The former president of City of Wilson Employees FCU was charged with embezzling more than $14,000 form the credit union by taking out loans in other members' names without their knowledge. Elsie Taylor, 51, was president of the credit union until February 2005. After she left investigators discovered more than $500,000 in delinquent loans, many by more than a year, pushing up the credit union's delinquency ratio to 20%. Investigators discovered numerous questionable loans but only charged Taylor with two of the loans.
-
When the Trump tax cuts expire next year, the White House will ask for higher corporate taxes and a buyback tax as Congress enters one of its biggest economic fights of the decade, which will have major implications for bankers.
23m ago -
Large banks, particularly those with over $100 billion in assets, see increasing supervisory shortcomings related to interest rate and liquidity risks, governance and risk control issues, and cite cybersecurity, CRE values, and remote work trends as potential hazards in the future.
36m ago -
American Heritage Federal Credit Union in Philadelphia plans to acquire three branches and $105 million of deposits from Linkbancorp. The deal is part of a growing number of transactions involving credit unions buying whole banks or portions of their branch networks.
1h ago -
In this week's edition of the American Banker news quiz, gauge your understanding of topics like Trump's ongoing criminal trial, alleged misconduct within the Federal Deposit Insurance Corp., industry succession planning and more.
8h ago -
Many banks got shares in the lucrative payments network when it went public in 2008. Some of them are now looking to sell in order to offset losses on their sales of underwater bonds.
May 9 -
Depositors are still flocking to online-only banking platforms offered by companies such as Ally, Capital One and Discover. But overall customer satisfaction took a "statistically significant" drop, according to a new J.D. Power report.
May 9