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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The bank is accusing its fintech rival of racketeering for raiding its offices across nine states and stealing an untold amount of confidential information.
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Mirroring the efforts of a number of larger institutions, Portland-based Northeast Bank plans to open a de novo branch in Bangor and renovate its seven existing branches.
September 11 -
The Brazilian digital bank is bringing its services to U.S. consumers through a partnership with Lead Bank as it awaits its own final charter approval.
September 11 -
Research from Cerulli Associates suggests that many RIAs have a long way to go with AI adoption while already finding possible ramifications for back-office staff.
September 11 -
Regulators want firms to spot where several critical functions ride on one provider, a question the department's earlier vendor guidance did not ask.
September 11 -
The digital asset and card-issuing firms are supplying the guts to enable transactions for cards and digital wallets, betting that Mastercard's ties to both firms will be attractive to banks, consumers and merchants.
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