RICHMOND, Va. - (08/19/05) -- Fourteen city residents wereindicted this week in an alleged stolen check ring that stolechecks from the mail, then made $180,000 in phony deposits in areainstitutions, including Richmond FCU and Virginia CU. Charged as heringleader was Marilyn Roberson, 38, of Richmond, who allegedlydirected the others to open accounts at the different credit unionsand banks for the purpose of negotiating stolen or worthlesschecks. Roberson also allegedly paid others for the use of theirexisting accounts to deposit the checks. The aim was to make quickwithdrawals before the victim credit unions and banks could detectthe fraud. The ring netted at least $75,000 from thescheme.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
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.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
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.
July 3 -
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.
July 3 -
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.
July 3