ALEXANDRIA, Va. – NCUA reported yesterday it has barred Crystal Bottomley, a 24-year-old former teller at NATCO CU, from the credit union industry for embezzling about $33,000 from the Richmond, Ind., credit union. Bottomley was convicted of embezzlement and sentenced to three months in prison, ans to pay $32,582 in restitution to the credit union’s bond insurer, Chubb & Sons, and $1,000 to the credit union. Bottomley stole the funds by accessing member accounts and withdrawing money without authorization, then forging members’ signatures to withdrawal slips.
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Research shows artificial-intelligence programs bolster bad decisions and reduce diversity of thought, posing risks to banks' culture and governance.
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RIAs that custody less than $100 million with Fidelity have several options to choose from before being forced out of the firm next year. None of them is necessarily easy.
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Federal Deposit Insurance Corp. Chair Travis Hill said Tuesday that regulatory changes to bank supervision and M&A rules are meant to improve safety and soundness rather than water down oversight.
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Attackers suspected of using AI got into Korean banks through side doors. The apparent failures were ordinary cyber hygiene, the kind U.S. regulators keep naming.
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While it isn't a household name in most U.S. wealth management circles, RQD* Clearing just drew a substantial growth investment on the basis of its international clearing business. Can that translate to more stateside RIA relationships?
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A survey of community bankers found broad concern that the emergence of stablecoins will result in deposit outflows and reduced lending capacity.
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