SEATTLE - (07/11/05) -- An Auburn man known as the'Pillowcase Robber,' for the vehicle in which he carried out stolenloot, was sentenced Friday to 184 years in prison for a robberyspree police believe may have included as many as 20 credit unions,banks and check cashers. U.S. District Judge Thomas Zilly imposedthe stiff sentence on 41-year-old bank robber Ivy Gaines because oflegislatively mandated minimum terms for defendants who usefirearms during robberies, and because higher courts have upheldheavy sentences in comparable cases. Gaines was convicted on 10counts of bank robbery, including the August 4, 2003 heist atWashington Employees CU and the August 7, 2003 hold-up at AlaskaUSA FCU. Authorities dubbed him the Pillowcase Robber because heoften handed tellers a pillowcase and ordered them to fill it withcash. Gaines was arrested after a hold-up at KeyBank when policefound a pillowcase with $15,000 stuffed in it in hiscar.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
September 17 -
St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
September 17 -
The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.
September 17