GRAND RAPIDS, Mich. – The former president of Plainwell Community CU was jailed Friday for almost four years after his conviction of a $1.3 million embezzlement that killed the $15 million credit union.
Ronald Tran, 45, confessed to receiving the proceeds of dozens of loans he approved in other people’s names between 2001 and 2004.
Tran was sentenced to 46 months in prison and ordered to pay almost $1 million in restitution.
Constellation Software subsidiary CORA Group rebranded its U.S. core banking service as regulators are looking to inspect core vendor relationships.
Banks have embraced artificial intelligence for years. Now, after a week of dire warnings about the technology's risks, executives at two big banks are calling for caution and calm.
More depositories are getting involved in the securitized market and the competition is likely to add to expense management challenges of smaller balance loans.
Consumers' spending and payment behaviors were "holding very firm" despite inflationary pressures, Synchrony Chief Financial Officer Brian Wenzel said at the Barclays Global Financial Services Conference.
Sen. Elizabeth Warren sent a request for information to the National Association of Insurance Commissioners about state regulators' efforts to address private equity ownership of life insurance companies.
Advisors are still slow to plan for handing down their businesses, in part because of difficulties finding new owners they can trust.
