ALEXANDRIA, Va. – NCUA said Friday it barred two tellers from the credit union industry for thievery in separate cases. Heather Maier, a former teller at KYANG FCU, was convicted of stealing more than $50,000 from the Louisville, Ky., credit union and served six months in jail. Latrell Brousseau, a former teller at Louisiana Association of Educators FCU, in New Orleans, was also banned from the credit union industry.
The Federal Reserve's recently published request for information on options for updating its check clearing apparatus has bankers fearing that it will opt to phase out paper checks entirely — an outcome that has community banks panicked.
A federal judge ruled that acting Consumer Financial Protection Bureau Director Russell Vought unlawfully refused to request agency funding from the Federal Reserve Board, dealing a procedural blow to a legal argument that the Fed can only fund the CFPB when it turns a profit.
A White House executive order issued Friday afternoon directing regulators to ease Dodd-Frank compliance burdens comes as a bipartisan housing bill advances on Capitol Hill.
The bank and fintech entered an agreement to expand open banking ahead of the CFPB's new 1033 rule and announced joint fraud-combatting product improvements.
A federal judge wrote in an opinion that a "mountain of evidence" suggests the subpoenas were an effort to push Federal Reserve Chair Jerome Powell to lower interest rates or resign.
Investors claim JPMorganChase collected fees while ignoring suspicious transfers linked to a $328 million crypto Ponzi scheme.
