SAN MARCOS, Texas - (10/11/05) -- A member of Randolph-Brooks FCU wasaghast one day last week as she watched an online phishing schemedrain her credit union account of $1,800. The member, identified asErica Carpenter, reported checking her account balance online tofind several unauthorized charges, but was unable to make phonecontact with the credit union until the next day. Every time sherefreshed the page, she saw another charge against her account.Later she found out that her account and several others at thecredit union was made available through the Internet payments sitePayPal. She said she received an email from a phony site purportingto be PayPal and listing an email address it said had been added toher account, but she clicked on the button indicating she did notauthorize it. Carpenter explained she had used PayPal three yearsago to buy something off eBay, but hadn't used the service sincethen. Carpenter said she has been told she will only be responsiblefor the first $50 of the theft.
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The Federal Deposit Insurance Corp. is arguing that Colorado has the right to establish an interest rate cap that all state-chartered banks must follow. Three industry groups are suing the state in an effort to stop its attempted crackdown.
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The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.
April 26 -
The Wyoming-based digital asset bank filed paperwork to challenge last month's district court ruling, which affirmed the Federal Reserve's view about its discretion over master account applications.
April 26 -
The former head of the Consumer Financial Protection Bureau resigned Friday after the troubled rollout of the Free Application for Federal Student Aid led some House Republicans to call for his resignation.
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The San Antonio-based bank said that loan growth, fueled in part by its expansion in key Texas markets, may compensate for pressure on deposits. It slashed the number of rate cuts it expects this year from five to two.
April 26 -
Mississippi's Renasant names its next CEO; environmental fintech Aspiration Partners spins out its consumer brand; the OCC adds five weeks to comment period for Capital One-Discover merger; and more in the weekly banking news roundup.
April 26