NCUA has issued Orders of Prohibition against: Ibell Abellon, former loan officer at Southland Credit Union, Downey, Calif.; Connie M. MacLean, former employee at Searles Lake FCU, Trona, Calif.; Martha Richardson, former employee, Haverhill Municipal Employees Credit Union, Haverhill, Mass., and April May Tippins, former loan officer, 20th Century Fox Federal Credit Union, Los Angeles, Calif. Abellon pleaded guilty to one count of bank embezzlement and was sentenced to imprisonment for not more than 24 months, supervised release for five years and ordered to pay restitution of $237,420.70. MacLean pleaded guilty to counts of misapplication of credit unions funds, and aiding and abetting, causing an act to be done. She was sentenced by the U.S. District Court for the Central District of California to one month imprisonment, three years of supervised release and ordered to pay $18,000 in restitution.
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Consumer debt aggregators such as Method, Payitoff, Spinwheel and Tally are partnering with financial institutions to embed solutions that aggregate account information and devise ways to optimize repayment — including with low-interest offers from the bank itself.
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Federal Deposit Insurance Corp. Chair Martin Gruenberg will testify next week in Congress. Those hearings — which will come after the publication of a bombshell report detailing widespread misconduct at the agency — could signal whether he has a future at the FDIC.
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Bank stocks are up this year as interest rates have leveled off and there are hopes that pressure on lenders' profits could moderate.
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National Australia Bank is adding a Pay By Bank option for near-instant payments, Italy is bringing open-loop payments to buses in Tuscany, and more.
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DCI in Hutchinson, Kansas, is giving employees unsure about retirement the option to work part-time and gradually ease into the next phase of their lives.
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McCargo will succeed Teresa Bryce Bazemore at what the former sees as a "transitional, pivotal moment" for the Federal Home Loan bank.
7h ago