SEATTLE - (03/06/06) -- The FBI is hunting for awell-dressed man in suit and tie they believe is responsible for asmany as five area hold-ups in recent weeks, including two at creditunions. The thief, dubbed the 'Upscale Bandit,'for his appearance,is seen at surveillance tapes robbing Seattle Metropolitan CU inKirkland on Feb. 3, Verity VU in Lynnwood on Feb. 17, and atseparate incidents at Bank of America, Key Bank and U.S. Bancorpbranches since the end of January. Surveillance videos show a whiteman in his 40's with reddish blond hair, a neatly trimmed bearddressed in formal work clothes; a suit and tie and overcoat, andblack dress shoes. FBI agents said he has a 'generally professionalappearance'.
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Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn't foresee major cost savings from generative AI for a few more years.
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When the Trump tax cuts expire next year, the White House will ask for higher corporate taxes and a buyback tax as Congress enters one of its biggest economic fights of the decade, which will have major implications for bankers.
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Large banks, particularly those with over $100 billion in assets, see increasing supervisory shortcomings related to interest rate and liquidity risks, governance and risk control issues, and cite cybersecurity, CRE values, and remote work trends as potential hazards in the future.
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American Heritage Federal Credit Union in Philadelphia plans to acquire three branches and $105 million of deposits from Linkbancorp. The deal is part of a growing number of transactions involving credit unions buying whole banks or portions of their branch networks.
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In this week's edition of the American Banker news quiz, gauge your understanding of topics like Trump's ongoing criminal trial, alleged misconduct within the Federal Deposit Insurance Corp., industry succession planning and more.
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Many banks got shares in the lucrative payments network when it went public in 2008. Some of them are now looking to sell in order to offset losses on their sales of underwater bonds.
May 9