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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First Northwest Bancorp in Port Angeles has selected an Everett, Washington-based competitor's president to serve as its new top executive.
September 12 -
The Charlotte-based megabank announced that it had appointed two business leaders to be co-presidents of the bank, and elevated its chief financial officer to serve as executive vice president.
September 12 -
The Massachusetts bank is being accused of aiding and abetting the operation of a Ponzi scheme centered in Hamilton, New York. The bank declined to comment on the allegations.
September 12 -
City National Bank promotes Brandon Williams to head private banking and wealth management; a former U.S. Postal Service letter carrier is sentenced to five and a half years for stealing over $10 million in checks from the mail; Lazard expands its North American investment banking franchise with two managing director hires; and more in this week's banking news roundup.
September 12 -
The government-powered network is allowing larger payments to settle instantly, a move The Clearing House has also made for its RTP network. Payment experts say more than higher limits are needed to make speedy processing ubiquitous.
September 12 -
The world's largest stablecoin issuer is preparing to launch USAT, its U.S.-regulated, dollar-backed stablecoin, by the end of the year, Tether CEO Paolo Ardoino told reporters at an event in New York. Bo Hines was also named CEO of USAT.
September 12