SEATTLE - (10/12/05) -- A former clerk at the statelicensing department was sentenced to 18 months in federal prisonlast Friday for selling dozens of phony drivers' licenses that wereused to defraud several area financial institutions, includingBoeing Employees CU. Peggy Lee Kendrix, 48, of Seattle, admittedshe issued at least 80 driver's licenses to applicants withoutmaking them complete tests or submit required papers, knowing theapplicants were using false names and other identificationinformation. The licenses were used to open accounts at thefinancial institutions. The losses were put at at least$42,000.
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Judge Mark T. Pittman sided with the Consumer Financial Protection Bureau in ordering the case be moved from Texas to the District of Columbia due to "forum shopping."
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Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.
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The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.
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Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.
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