NCUA has issued Orders of Prohibition against the following individuals: William G. Carey, Sr., former treasurer, Troy Federal Credit Union, Troy, N.Y., who pleaded guilty to one felony count of embezzlement and was sentenced to imprisonment for 24 months, followed by five years of probation; William H. Carnes, former board member, New England Teamsters FCU, Arlington, Mass., who pleaded guilty to embezzlement from an employee benefit plan and mail fraud, and was sentenced to probation for 60 months; and George W. Cashman, former board member, New England Teamsters FCU, Arlington, Mass. who pleaded guilty to extortion, embezzlement from an employee benefit plan and mail fraud, and was sentenced to imprisonment for 34 months, followed by 36 months of probation.
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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.
8h ago -
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.
11h ago -
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.
September 17 -
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.
September 17 -
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.
September 17 -
State regulator says blockchain tools are key to detecting money laundering and sanctions violations.
September 17