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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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.
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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.
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Zions Bancorp. is among the latest banks to report material losses due to alleged borrower fraud. Stocks of regional lenders plunged on Thursday.
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Merchants alleged the major card networks illegally conspired to shift fraud liability onto them with the adoption of EMV chip technology.
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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.
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