STINNETT, Texas - (04/19/05) -- Prosecutors testified last week thata former teller at Borger 66 FCU embezzled almost $180,000 bymoving funds from accounts of members who were mostly elderly orphysically inactive who were less likely to check their balances ona regular basis. The ex-teller, Sandra Porter, 44, moved as much as$1.1 million in and out of various accounts to mask her scheme,prosecutors testified during a bail hearing in state court. Some ofthe funds, about $35,000, were deposited in an account at AmarilloNational Bank for the First Church of the Nazarene, where Porter'shusband is minister, while thousands more was deposited at nearbyPantex FCU, where her daughter has an account, they said. Porter'srequest to reduce $1 million bond was denied by the judge and shewas sent back to Hutchinson County Jail after thehearing.
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Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
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The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
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The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
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Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
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The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
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