COVENTRY, R.I. – Four California men were arrested at a Stop & Shop supermarket Monday night in connection with a broadening scheme to tamper with point-of-sale machines at check-out lines and inserting them with skimmers to steal critical credit data. The four were arrested after they attempted to replace check-out lane keypads in order to steal credit and debit card numbers and passwords, police said. The suspects were identified as Arutyun Shatarevyan, 20, Mikael Stepanian, 28, Grevork Baltadjian, 20, who were arrested inside the store, and Arman Ter-Esayan, 22, arrested in the parking lot. New England’s largest supermarket chain said credit card information was stolen in a similar manner from as many as six of its supermarkets in Rhode Island and Massachusetts. In those incidents the thieves apparently switched the original keypad with an alternate keypad used to record card information. Then they switched the keypads back a few days later. Stop & Shop has responded by bolting down the keypads on their POS machines in all of its 385 stores.
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The central bank extended the deadline for comments on Regulation O by one month, to Nov. 4.
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The Brazil-based digital bank, which recently launched a U.S. business, submitted an SEC filing to stop the spread of misinformation.
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The bank-owned payments company has been developing an interoperable payments network that will allow banks to clear and settle tokenized deposit transactions. It's targeting an early 2027 launch for the network, and is working toward an atomic future thanks to bank demand.
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More states are providing funding to community development financial institutions, which are contending with hostility from the Trump administration and challenges from high interest rates.
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Chicago-based Northern Trust has started its search for a new CFO as David Fox plans to retire in March; the American Fintech Council has been appointed as an observer on the Conference of State Bank Supervisors' newly formed nonbank industry advisory; Wells Fargo has hired JPMorganChase investment banker David Harkin to advise on technology deals, and more in this week's banking news roundup.
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A proposal is meant to ensure advisors can trade client assets on a discretionary basis without triggering onerous custody requirements, while also giving them a self-custody option for crypto.
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