MILFORD, Ct. - (08/12/05) -- The pastor for a now-defunct parishwas charged with defrauding Parda FCU and using the proceeds toparticipate in one of many so-called Nigerian Internet scams.Police said Victor Whitworth, 52, pastor at the now-closed VictoryTemple of the Church of God in Christ, in Waterbury, forged hisname on a check for $16,245, then used the money to participate inan e-mail scam that has cost victims millions of dollars. They saidhe sent checks to New York, Canada and Nigeria. Whitworth said hewas fooled into sending money to people claiming to be Nigeriangovernment officials who promised to donate money to hischurch.
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The FDIC Board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
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The state's Comptroller of Public Accounts is one of several notable non-depositories with access to the Fed's payments system, along with the Chicago Mercantile Exchange and the Tennessee Valley Authority. So why do they have accounts while some neobanks don't?
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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
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The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
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At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
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Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
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