ELLICOTT City, Md. - (06/12/06) A suspected bank and creditunion robber nicknamed Speed Racer for his fleetnessof foot, was no match for a 240-pound restaurant owner who tackledhim and held him long enough for police to arrive after a localbank robbery in the Baltimore suburb last Wednesday. Police thinkthe capture of Luvine Summers, Jr., 30, will clear as man as adozen bank robberies in three counties. The robbery suspect wasdubbed Speed Racer in May last year after a suspect bySummers description robbed a Johns Hopkins FCU branch inBaltimore, then an American bank branch in Ellicott City 15 minuteslater. Summers was collared when Joe Mannarelli, 35, and owner ofSerafinos Italian restaurant, saw a man in a constructionsuit jogging past his restaurant window with a red dye packexploding in the backpack. Mannarelli ran to the door and yelledstop, then gave chase when the suspect kept running.The 5-foot-9 Mannarelli chased the suspect a few blocks into anearby apartment complex, then jumped him when the alleged robberslowed for traffic.
-
Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
March 20 -
Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
March 20 -
Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
March 20 -
Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
March 20 -
CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.
March 20 -
Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.
March 20











