SPRINGFIELD, Mass. - (02/14/06) -- NCUA said Tuesday it has filed acivil lawsuit against Carol Aranjo, the former president of defunctD. Edward Wells FCU, one of half dozen well-known CDCUs that havefailed over the past two years. The suit, filed in federal court,charges Aranjo, former chairman of the National Federation of CDCUsand a prominent figure in the community development credit unionmovement, with fraud and breach of fiduciary duty in the 2003failure of the $5 million credit union, which cost the NCUSIF $2.9million. Also named in the suit is Michael Akers, former chairmanof the credit union's supervisory committee, and several others. D.Edward Wells FCU was taken over by NCUA, then merged into WesternMassachusetts Telephone Workers CU on May 20, 2003.
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In the inaugural iteration of American Banker's news quiz, test your knowledge on top articles covering the legal battles of the Consumer Financial Protection Bureau, new technology testing at JPMorgan Chase, earnings season and more.
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To build their executive presence in meetings and on video calls, junior employees should embrace flexible schedules — and possibly media training, Michelle Young of Worldpay and Anna Greenwald of MoneyGram International said at American Banker's Payments Forum.
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Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
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The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
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The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
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Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
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