The 52-year-old manager of Real Financial CU, who put his life on the line to chase down the Fishing Hat Bandit and locate him for police to capture, is probably out of the money when it comes to the $20,000 reward offered by the FBI for help in the arrest of the state's most prolific bank robber. FBI policy is that employees and managers of credit unions and banks are not eligible for the bounties offered in assisting the capture of criminals, according to Paul McCabe, special agent for the FBI, who added that any reward will be held in abeyance until the bandit is either convicted or found innocent. "Normal procedure is that we wait until the case has been adjudicated," McCabe told The Credit Union Journal. That probably means that Real Financial CU manager Dean Wickstrom, who police credited for the capture of the elusive serial robber, will not be receiving the reward, according to McCabe. The bandit, identified as John Whitrock, of nearby Burnside, is believed to be responsible for as many as 24 robberies over the past 18 months, all but two of them at credit unions.
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Firms like Brex and Ramp are adding new tech faster than legacy banks, according to payment experts.
October 13 -
The Office of Management and Budget issued reduction in force notices to Treasury staff working in the Community Development Financial Institution office Friday, saying that the layoffs are necessary to "implement the abolishment" of the fund.
October 10 -
Former City National CEO Kelly Coffey has a new venture in wealth management; Erin Siegfried is Northwest Bancshares' new chief legal counsel and corporate secretary; Flagstar Bank secures OCC approval to merge its holding company into the bank; and more in this week's banking news roundup.
October 10 -
The regional bank has launched a digital student banking center that's part of a broader strategy to focus on relationship-building.
October 10 -
The Consumer Financial Protection Bureau has announced job openings for attorney-advisors to represent the agency in defensive and appellate litigation.
October 10 -
An updated deposit insurance reform bill from Sens. Bill Hagerty, R-Tenn., and Angela Alsobrooks, D-Md., would raise deposit insurance for business accounts to $10 million, exclude the largest banks from coverage and insulate community banks from footing the bill.
October 10