CAMP FOSTER, Okinawa - (05/24/06) -- A Marine private was sentenced tothree years in prison and handed a bad conduct discharge Mondayafter being convicted by a Marine tribunal of larceny andintentionally writing more than $15,000 of bad checks on his NavyFCU account. The tribunal consisted of three senior enlistedMarines and two officers. Pvt. Robert Harvey, 20, who was assignedto the Marine Corps Air Station Futenma, was found to have written40 checks last July and August to purchase $15,432 worth ofcomputers, stereo equipment and other goods from the Army and AirForce Exchange at Camp Foster. An official with the credit uniontestified Thursday that Harvey wrote some of the checks after shecounseled him on the overdraft problem and informed him that hischecking account was closed. Harvey was also convicted of larcenyfor making $4,350 in purchases on a Fort Sills National Bankchecking card when he had insufficient funds.
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Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
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The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
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Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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