Executive Summary:
- To make a long article short, The American Banker believes that many of the Treasury Department’s proposals will have little support outside the Department itself. They feel the short term proposals have the best chance of passing, while most intermediate and long term proposals will not be enacted into law.
- A British economist discusses the US economic situation, believing that while Alan Greenspan set the conditions for a recession, Ben Bernanke’s rate cuts won’t have much of an effect on the outcome. Clickers be warned: While interesting, it’s also dull. In fact, it’s really dullllllll.
- In a move that has every ‘cat lady’ at Wescom CU jumping for joy, members may now have photos of their choice printed on credit and check cards. The Pasadena, California credit union is offering the service for a fee of $9.95, with a 7-10 day delivery once the photo is approved.
- Credit Union National Association (CUNA), among others will testify before a House Subcommittee today regarding the Unlawful Internet Gambling Enforcement Act (UIGEA). Testimony is expected to shine UIGEA in a poor light, as the law places the responsibility of regulating illegal internet gambling transactions on the financial institutions, with penalties for non-compliance.
Robbed:
- Tennessee Valley CU, Fort Oglethorpe, Georgia, on March 31st. The suspect provided a note stating that the credit union was being robbed. No weapon was shown, and no one was injured. It should be noted that, in the photo provided, the time and date of the robbery don’t coincide with the time stamp on the video.
- State Employees CU, Charlotte, North Carolina, on April 1st. A teller was shot during the robbery by a single gunman, who fled in a car with three other occupants. At posting, the teller remains in critical condition.
Arrested, Arraigned, Charged, or Sentenced:
- With six of eight individuals already in custody for a string of robberies in Northern Indiana, including La Porte Community FCU in , police arrested Breion Campbell and Charles Scott on Monday.
- And convicted. Jason Ray Radford of East Coventry Township, Pennsylvania, has been convicted of four robberies of financial institutions, including a King of Prussia credit union last October. He’s facing a mandatory 5-10 year sentence that will be handed down at a later date.
- A former employee of Utah First CU was charged Tuesday with embezzling more than $60,000 from 70 member accounts between August 2007 and January 2008. The member’s accounts have been reimbursed by the credit union.
Posted by christianmullins
