ATLANTA – A former CheckFree executive and his wife are headed to jail and will a fine for their scheme to defraud the electronic bill payments service provider out of almost $400,000. Lawrence Dale Roberts, 43, of Marietta, Ga., was sentenced to three years in prison, and his wife, Christina Roberts, 36, was sentenced to a year behind bars and ordered to pay CheckFree $386,000 in restitution. Authorities said Dale Roberts was a CheckFree executive who contracted with a company secretly owned by his wife, which charged CheckFree inflated prices, 100% overly regular hourly rates. The couple hid their ownership in the contractor, posing a neighbor as the owner and providing him with a cell phone owned by Dale Roberts. Christina Roberts forged the neighbor’s signature on several documents, including checks.
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The central bank extended the deadline for comments on Regulation O by one month, to Nov. 4.
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The Brazil-based digital bank, which recently launched a U.S. business, submitted an SEC filing to stop the spread of misinformation.
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The bank-owned payments company has been developing an interoperable payments network that will allow banks to clear and settle tokenized deposit transactions. It's targeting an early 2027 launch for the network, and is working toward an atomic future thanks to bank demand.
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More states are providing funding to community development financial institutions, which are contending with hostility from the Trump administration and challenges from high interest rates.
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Chicago-based Northern Trust has started its search for a new CFO as David Fox plans to retire in March; the American Fintech Council has been appointed as an observer on the Conference of State Bank Supervisors' newly formed nonbank industry advisory; Wells Fargo has hired JPMorganChase investment banker David Harkin to advise on technology deals, and more in this week's banking news roundup.
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A proposal is meant to ensure advisors can trade client assets on a discretionary basis without triggering onerous custody requirements, while also giving them a self-custody option for crypto.
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