Women Kidnap CU Member And Force Her ToEmpty Accounts

March 15, 2006, 1:00 a.m. EST 1 Min Read

ARROYO GRANDE, Calif. - (03/15/06) Police are looking for twoyoung women they say hitched a ride with a mother and her toddler,then forced the mother to take them to her credit union andwithdraw funds. The mother agreed to give the strangers a rideafter they approached her at the local Wal-Mart, then asked her todrive them to Sesloc FCU to make a transaction. When they got tothe credit union the suspects threatened to harm victimsthree-year-old son if she did not withdraw cash to give to them.The mother then made a large withdrawal and gave it to thesuspects, who forced her to drive them back to the Wal-Mart.Neither the mother or her infant were hurt.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Community banking

Wash. bank rocked by scandal chooses new CEO

First Northwest Bancorp in Port Angeles has selected an Everett, Washington-based competitor's president to serve as its new top executive.

By John Reosti

September 12
Bank of America

BofA shuffles leadership, CEO Moynihan to stay at least five years

The Charlotte-based megabank announced that it had appointed two business leaders to be co-presidents of the bank, and elevated its chief financial officer to serve as executive vice president.

By Catherine Leffert

September 12
Fraud

Berkshire Bank accused of aiding small-town Ponzi scheme

The Massachusetts bank is being accused of aiding and abetting the operation of a Ponzi scheme centered in Hamilton, New York. The bank declined to comment on the allegations.

By Kevin Wack

September 12
Industry News

City National promotes Brandon Williams

City National Bank promotes Brandon Williams to head private banking and wealth management; a former U.S. Postal Service letter carrier is sentenced to five and a half years for stealing over $10 million in checks from the mail; Lazard expands its North American investment banking franchise with two managing director hires; and more in this week's banking news roundup.

By Editorial Staff

September 12
Payments

FedNow to raise transaction limit to $10 million

The government-powered network is allowing larger payments to settle instantly, a move The Clearing House has also made for its RTP network. Payment experts say more than higher limits are needed to make speedy processing ubiquitous.

By John Adams

September 12
Stablecoin

Tether targets December for launch of U.S.-regulated stablecoin

The world's largest stablecoin issuer is preparing to launch USAT, its U.S.-regulated, dollar-backed stablecoin, by the end of the year, Tether CEO Paolo Ardoino told reporters at an event in New York. Bo Hines was also named CEO of USAT.

By Joey Pizzolato

September 12