ROCHESTER, N.Y. - (03/21/06) -- Law enforcement and local officialsgathered at the Xerox FCU branch here Monday to commemorate a newlaw making it a federal crime to use the uniform or badge of lawenforcement in a misleading or deceptive way. The new law, theBadge and Uniform Security and Trustworthiness (BUST) Act, wasenacted in response to the August 2003 armed robbery at the Xeroxbranch when a man dressed in an 'FBI' jacket and wearing a U.S.Marshal's badge shot one member to death and wounded another duringthe hold-up. The assailant even announced to employees that he waswith the FBI and was quote 'staging a robbery.' The robber is stillat large. A $75,000.00 reward is still being offered for anyinformation leading to an arrest. Rep. Louise Slaughter, R-N.Y.,who sponsored the bill, said it was too easy to misappropriate lawenforcement gear and use it in crimes.
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A housing bill that already passed the Senate cleared the House Monday evening, but included bipartisan community banking provisions that have already raised objections in the upper chamber.
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Fifteen banks have failed since November 2019, with the most recent one occurring on Jan. 30.
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The Government Accountability Office was tasked with investigating the Consumer Financial Protection Bureau's stop-work order, but CFPB officials refused to meet with or provide information to Congress' investigative arm.
February 9 -
Federal Reserve Gov. Christopher Waller said comments from banks and fintech firms reveal sharply different priorities in the creation of the central bank's proposed "skinny" master accounts.
February 9 -
Check fraud has risen 385% since the pandemic, with criminals using stolen mail and digital tools to deceive major financial institutions.
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The activist investor HoldCo Asset Management said Monday that it doesn't plan to pursue proxy battles this spring at either Key or Eastern. It had been agitating publicly over the banks' M&A strategies.
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