NORFOLK, Va. - (10/17/05) -- A former assistant superintendentfor Prince George's County schools in suburban Washington, D.C.,was found guilty of five counts of money laundering Friday in amajor drug conspiracy case. Pamela Hoffler-Ridick, 44 faces up to20 years in prison after being convicted of funneling more than$16,000 in proceeds from a multi-million dollar drug ring throughher account at Virginia Educators CU. She claimed she didn't knowthat her then-boyfriend was using her to hide his drug profits.Hoffler-Riddick was one of 40 defendants charged in 'OperationBlowfish,' a ring that federal agents said distributed about $20million in marijuana and cocaine, imported mostly from Mexico tosoutheastern Virginia and other locations between 1996 and 2004.She was once a standout educator in Virginia Beach and in Norfolk,then later in Maryland, where she lost her $138,000-a-year jobafter her arrest last year.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
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