GARLAND, Texas - (08/05/05) -- A routine traffic stop led police touncover thousands of confidential records and documents of membersat City CU. Police pulled over Robert Hardin for a trafficviolation and found the private information of credit union membersin the car. A search of Hardin's home uncovered even more personaldocuments from credit union members. Police believe Hardin plan touse the documents to obtain credit or checks from credit unionmembers. A credit union official said the records were old and werescheduled to be destroyed. It is unclear how Hardin obtained thedocuments.
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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
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The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
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At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
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Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
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The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
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Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
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