BEAVER, Pa. - (05/02/05) -- A member of Beaver Valley FCUpleaded guilty this week to depositing phony money orders intoaccounts at his credit union and a local bank, then withdrawing themoney. Kenneth Magestro, 53, pleaded guilty to one count of bankfraud and is scheduled to be sentenced in August. Magestrodeposited $9,000 worth of counterfeit Western Union money ordersinto the two accounts, then withdrew it as cash.
-
Earlier in the day, Fed Gov. Stephen Miran chastised the Fed for wading into politics under the Biden administration, as he currently takes unpaid leave from President Donald Trump's top advisory council.
October 16 -
CEO Chris Gorman applauded what he sees as a transformation of bank regulation since President Trump took office. He described a shift from layers of exams and documentation to a streamlined focus on liquidity, capital and earnings.
October 16 -
Zions Bancorp. is among the latest banks to report material losses due to alleged borrower fraud. Stocks of regional lenders plunged on Thursday.
October 16 -
Merchants alleged the major card networks illegally conspired to shift fraud liability onto them with the adoption of EMV chip technology.
October 16 -
The Buffalo-based bank said Thursday that the paring of its CRE loan book, which has nearly halved in volume over the last three years, may be near its inflection point.
October 16 -
The BNPL lender is launching a three-day shopping event that pushes 0% financing offers to draw more consumers into the app and increase sales volumes for merchants ahead of the holiday season.
October 16