A Mexican citizen who was being deported was permitted to return to his home to retrieve $31,700 he had saved and buried in a glass jar in his yard. Over a seven-year period, Cristobal Chavez Torres saved the money in $100 bills from earnings as construction worker, during which he never earnd more than $7.25 an hour. Chavez had been carrying $10,000 in cash in his pockets before opting to store the money in the jar at the mobile home in which he was living. He said he did not open a financial institution account because he was carrying fake documents. Chavez was permitted by the Immigrant and Customs Enforcement office to retrieve the money-and a 16-year-old son, before returning home. The money was turned over to the Mexican consulate and deposited in a financial institution account so it could be transferred to Chavez in Mexico. Chavez was one of 48 workers who were arrested by U.S. authorities.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3