NEW ORLEANS – A former teller who stole more than $670,000 from inactive accounts at the McNeese FCU was sentenced Tuesday to more than four years in federal prison. Cristella Belaire, 41, of Lake Charles, was sentenced to 51 months in prison and ordered her to pay back $783,985 to the credit union for McNeese State University after she is released from prison. Belaire pleaded guilty in October to theft and embezzlement charges. Once Belaire finishes her prison term, she must pay $13,066 a month until all of the money is paid back. Authorities said Belaire targeted 16 accounts which were rarely accessed or used by the owners of the accounts, but maintained high balances. She shifted funds between the accounts to fool the auditors and NCUA during the eight-year scheme. The restitution order includes repayment of the stolen funds and interest to be paid to the credit union insurer, CUNA Mutual Group.
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The bank asks a federal court to toss claims from five certified classes, arguing victims have been paid and that fraudsters are included in the suit.
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BNY's Carolyn Weinberg believes blockchain technology could be the key to an always-on operating system for the New York-based custody bank.
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The Richmond, Virginia-based bank expects to build 10 branches in Raleigh and Wilmington, North Carolina, over the next three years. M&A is on the back burner as the company also works to capitalize on its recent acquisition of Sandy Spring Bank in Maryland, CEO John Asbury said.
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The North Carolina bank is the latest lender impacted by the bankruptcy of U.S. auto parts maker First Brands. First Citizens executives said credit was in good shape overall.
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The agents could overcome the consumer inertia that keeps people in low-yield bank accounts, the consultants say.
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The credit card issuer added two programs with home goods retailers Raymour and Flanigan and Bed Bath and Beyond during the quarter while also increasing its stock buyback allocation and dividend payouts.
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