BANGOR, Me. - (09/29/04) -- A man who allegedly tied up twoemployees at Gardiner FCU with duct tape but failed to get anymoney during a failed robbery last November pleaded innocent at thestart of his trial in federal court here Monday. The defendant,Michael Mahone, 26, allegedly entered the credit union just beforeclosing wearing a ski mask and white makeup around his eye toconceal his identity, then used a knife to threaten the employees.But the robbery bid was frustrated because the vault had beenlocked and could not be opened until the next morning. Thesuspect's getaway car was found the next day near the credit union,while a ski mask and gloves, with Mahone's DNA on them, were foundin a trash container nearby.
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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
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The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
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At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
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Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
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The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
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Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
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