Category: banking
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Bradley Man Sentenced for Bank Fraud and Identity Theft
Darren Deorsey, 51, of Bradley, Maine, received a 13-month prison sentence for bank fraud and aggravated identity theft. He conspired to impersonate bank customers, stealing $16,900 using fake IDs in a scheme between July and October 2024.
Law EnforcementBusinessPolitics and GovernmentLegalBankingFinancial MarketsFederal Government Darren DeorseyBradleyMaineBank FraudIdentity TheftSentencingFBI
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Edison Man Sentenced to 51 Months for Laundering Internet Fraud Proceeds
Edison, New Jersey man Kenny Osas Okuonghae received a 51-month prison sentence and $1.2 million restitution for laundering over $500,000 from internet scams, including romance and 'pig butchering' schemes.
Law EnforcementBusinessScience & TechnologyLegalComputers and InternetBankingSocial Issues Kenny Osas OkuonghaeEdisonNew Jerseymoney launderinginternet fraudromance scamspig butcheringFBI
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Federal Reserve Publishes Latest Z.1 Financial Accounts Data
The Federal Reserve has released its latest Z.1 data, "Financial Accounts of the United States," which is now available for public access on the Federal Reserve's official website.
BusinessPolitics and GovernmentEconomyBankingFederal Government Federal ReserveZ.1Financial AccountsEconomic DataData ReleaseU.S. Federal Reserve
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Federal Agencies Issue Joint Rule for Financial Data Transparency
Nine federal agencies, led by the OCC, have issued a joint final rule to implement the Financial Data Transparency Act of 2022. This initiative establishes common data standards to improve interoperability of financial regulatory data across the sector.
BusinessPolitics and GovernmentFederal GovernmentEconomyBankingLegal Financial Data Transparency ActFinancial RegulationData StandardsOCCFederal AgenciesInteroperabilityFinancial Stability Oversight CouncilOffice of the Comptroller of the Currency (OCC)
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Federal Reserve Board Finalizes Data Standards Rule
The Federal Reserve Board has announced a final rule to establish data standards for specific information collections, aiming to enhance consistency and clarity in financial reporting.
BusinessPolitics and GovernmentFederal GovernmentEconomyBankingFinancial Markets Federal Reserve BoardData StandardsFinal RuleInformation CollectionsFinancial ReportingRegulationGovernmentU.S. Federal Reserve
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OCC Proposes New Reporting Requirements for Stablecoin Issuers Under GENIUS Act
The OCC is proposing new weekly and quarterly reporting forms for payment stablecoin issuers under the GENIUS Act. Comments are invited on these forms, which aim to implement regulatory requirements for stablecoin activities.
BusinessPolitics and GovernmentScience & TechnologyEconomyFederal GovernmentBankingFinancial MarketsLegal OCCGENIUS ActPayment StablecoinFinancial RegulationDigital AssetsReporting FormsFederal RegisterOffice of the Comptroller of the Currency (OCC)
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New Jersey Social Security Offices Update Operational Status, Promote Online Services
The Social Security Administration has updated the operational status of its New Jersey offices. Many services are now available online, encouraging residents to manage benefits, applications, and account information digitally.
Politics and GovernmentBusinessHealthFederal GovernmentEmployment and LaborSocial IssuesBanking Social Security AdministrationNew JerseyOffice OperationsOnline ServicesRetirement BenefitsDisability BenefitsMedicare Benefits
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Final Defendant Sentenced in $3 Million Morris Bank Fraud Conspiracy
The final defendant in a $3 million bank fraud conspiracy, James Kevin Meyers, was sentenced for filing false currency transaction reports. This concludes an FBI investigation involving Morris Bank, two other defendants, and significant restitution orders.
Law EnforcementBusinessPolitics and GovernmentLegalEconomyFederal GovernmentBankingGeneral Politics Bank FraudFinancial CrimeCurrency Transaction ReportsMorris BankJames Kevin MeyersRonnie AtkinsonGeorgiaFBI
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New York Attorney Pleads Guilty to Embezzling Over $500K from Trust
New York attorney Edward W. Miller pleaded guilty to wire fraud, admitting to embezzling over $500,000 from a trust he managed. He made unauthorized transactions and false representations, now facing up to 20 years in prison.
Law EnforcementBusinessPolitics and GovernmentLegalFederal GovernmentEconomyBanking Edward W. Millerwire fraudembezzlementtrustNew YorkConnecticutFBIFinancial Fraud
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Rochester Man Sentenced for $168,000 Financial Institution Fraud
Michael Torres, 38, of Rochester, received a prison sentence for defrauding his employer, Financial Institution 1, of $168,000 through 19 unauthorized loans. He faces prison, home detention, and restitution.
Law EnforcementPolitics and GovernmentBusinessFederal GovernmentLegalEconomyBanking Michael TorresRochesterFinancial FraudSentencingFBIWestern District of New YorkBank Fraud
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New Jersey Social Security Offices Update Operational Status, Promote Online Services
The Social Security Administration has updated the operational status of its New Jersey offices. Many services are now available online, encouraging residents to manage benefits, applications, and account information digitally.
Politics and GovernmentBusinessHealthFederal GovernmentEmployment and LaborSocial IssuesBanking Social Security AdministrationNew JerseyOffice OperationsOnline ServicesRetirement BenefitsDisability BenefitsMedicare Benefits
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Alabama Social Security Offices Update Operational Status, Promote Online Services
The Social Security Administration has updated the operational status of its Alabama offices. The agency encourages residents to utilize its comprehensive online services for various tasks, including benefit applications, account management, and information review, to avoid in-person visits.
Politics and GovernmentBusinessHealthFederal GovernmentEconomySocial IssuesLegalBanking Social Security AdministrationAlabamaOffice StatusOnline ServicesRetirement BenefitsDisability BenefitsMedicare
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New Jersey Social Security Offices Update Operational Status, Promote Online Services
The Social Security Administration has updated the operational status of its New Jersey offices. Many services are now available online, encouraging residents to manage benefits, applications, and account information digitally.
Politics and GovernmentBusinessHealthFederal GovernmentEmployment and LaborSocial IssuesBanking Social Security AdministrationNew JerseyOffice OperationsOnline ServicesRetirement BenefitsDisability BenefitsMedicare Benefits
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New Jersey Social Security Offices Update Operational Status, Promote Online Services
The Social Security Administration has updated the operational status of its New Jersey offices. Many services are now available online, encouraging residents to manage benefits, applications, and account information digitally.
Politics and GovernmentBusinessHealthFederal GovernmentEmployment and LaborSocial IssuesBanking Social Security AdministrationNew JerseyOffice OperationsOnline ServicesRetirement BenefitsDisability BenefitsMedicare Benefits
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CFTC Establishes Joint Data Standards Under Financial Data Transparency Act
The CFTC has established joint data standards as mandated by the Financial Data Transparency Act of 2022. This final rule sets technical standards for data submitted to financial regulatory agencies, with eight other federal agencies expected to follow suit.
Politics and GovernmentBusinessFederal GovernmentEconomyBankingFinancial Markets CFTCFinancial Data Transparency ActData StandardsFinancial RegulationTechnical StandardsRegulatory Agencies
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Federal Reserve Governor Barr Speaks on Supervision and Regulation
Federal Reserve Governor Barr delivered a speech on supervision and regulation at American University in Washington, D.C. The address, released by the Board of Governors, focused on financial oversight and regulatory frameworks.
BusinessPolitics and GovernmentFederal GovernmentBankingEconomy Governor BarrFederal ReserveSupervisionRegulationAmerican UniversityWashington D.C.Financial OversightU.S. Federal Reserve
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Federal Reserve Releases Latest G.19 Consumer Credit Data
The Federal Reserve has released its latest G.19 Consumer Credit data, offering updated insights into consumer borrowing. The report is now publicly available for review.
BusinessPolitics and GovernmentEconomyBankingFederal Government Federal ReserveConsumer CreditG.19 dataEconomic DataFinancial ServicesU.S. Federal Reserve
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U.S. Treasury Sanctions Iranian LPG Smuggling and Shadow Banking Networks
The U.S. Treasury has designated a network of individuals, entities, and vessels involved in illicitly shipping Iranian liquid petroleum gas disguised as Omani, and a shadow banking network moving hundreds of millions for sanctioned Iranian banks, under "Economic Fury."
Politics and GovernmentBusinessConflictFederal GovernmentEconomyBankingTradeMiddle EastAsia IranSanctionsUS TreasuryOFACLiquid Petroleum GasShadow BankingSmugglingEconomic Fury
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FinCEN Urges Financial Institutions to Combat Illicit Finance from Unlawful Employment
FinCEN issued an advisory today, calling on financial institutions to increase vigilance against financial risks associated with the unlawful employment of illegal aliens, aiming to protect the integrity of the U.S. financial system.
BusinessPolitics and GovernmentLaw EnforcementBankingEmployment and LaborFederal GovernmentSocial IssuesLegal FinCENFinancial Crimes Enforcement NetworkFinancial institutionsUnlawful employmentIllegal aliensIllicit activityU.S. financial system
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FinCEN Urges Financial Institutions to Combat Illicit Activity by Illegal Aliens
FinCEN issued an advisory urging financial institutions to detect and report illicit activity related to the unlawful employment of illegal aliens, aiming to secure the U.S. financial system and prevent financial exploitation.
Politics and GovernmentBusinessLaw EnforcementFederal GovernmentBankingEmployment and LaborLegal FinCENFinancial InstitutionsIllegal AliensIllicit ActivityPayroll FraudIdentity TheftTreasury DepartmentUS Treasury
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Second Suspect Charged in Massachusetts Armed Bank Robberies
A West Yarmouth man, Angel Gonzalez, faces armed bank robbery charges for two incidents in Massachusetts on April 28, 2026. He allegedly brandished a firearm and threatened employees, with a co-defendant also charged.
Law EnforcementPolitics and GovernmentLegalFederal GovernmentState GovernmentsBanking Angel GonzalezArmed Bank RobberyBostonMassachusettsFBISantander BankTD Bank
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OCC Shifts Focus to Risk Management, Innovation, and Bank Growth
Comptroller Jonathan V. Gould outlined the OCC's new direction to Congress, emphasizing a shift from risk elimination to management, boosting de novo bank formation, and promoting responsible innovation while addressing debanking concerns.
Politics and GovernmentBusinessFederal GovernmentCongressBankingFinancial MarketsSocial Issues OCCJonathan V. GouldFinancial Services Committeefinancial regulationde novo banksstablecoinOffice of the Comptroller of the Currency (OCC)
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Romanian Nationals Sentenced for Card Skimmer Conspiracy in Virginia
Two Romanian nationals received over three years in prison for a card skimmer conspiracy in Virginia. They used fake IDs, skimmers, and stolen data to defraud victims, leading to the seizure of cash and thousands of stolen card numbers.
Law EnforcementBusinessPolitics and GovernmentLegalFederal GovernmentBankingEconomy Adrian Vasile MarinSorin PostolacheCard SkimmingIdentity TheftAccess Device FraudAlexandria, VirginiaFBI
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Former PTA Treasurer Pleads Guilty to Embezzling Over $100,000
Holly Mikkelsen, former treasurer for Summit Pointe Elementary School PTA, pleaded guilty to nine counts of bank and wire fraud, admitting to stealing over $100,000. She faces up to 30 years in prison.
Law EnforcementBusinessPolitics and GovernmentEducationLegalFederal GovernmentBankingGeneral Politics Holly MikkelsenSummit Pointe Elementary School PTAEmbezzlementBank FraudWire FraudKansas CityFinancial CrimeFBI
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South L.A. Man Sentenced to Over 25 Years for Valentine's Day Armored Truck Heist
A South Los Angeles man received over 25 years in federal prison for a 2022 St. Valentine's Day armed armored truck robbery in Hawthorne, stealing over $166,000 and discharging a firearm.
Law EnforcementPolitics and GovernmentBusinessFederal GovernmentLegalBanking Deneyvous Jayan HobsonHawthorneArmored Truck RobberyFederal PrisonLos AngelesViolent CrimeFirearms OffensesFBI
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Federal Reserve Vice Chair Bowman Testifies on Supervision and Regulation
Federal Reserve Vice Chair Michael S. Bowman testified before the U.S. House of Representatives Committee on Financial Services on June 4, 2026, addressing key issues related to financial supervision and regulation.
Politics and GovernmentBusinessFederal GovernmentCongressBankingFinancial Markets Federal ReserveMichael S. BowmanFinancial ServicesSupervisionRegulationU.S. House of RepresentativesWashington D.C.U.S. Federal Reserve
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Aspiration Co-Founder Joseph Sanberg Sentenced to 14 Years for $248 Million Fraud
Joseph Neal Sanberg, co-founder of Aspiration Partners Inc., received a 14-year federal prison sentence for defrauding investors and lenders of over $248 million through a scheme involving fake clients and inflated assets.
BusinessLaw EnforcementPolitics and GovernmentEconomyBankingFinancial MarketsLegalFederal Government Joseph Neal SanbergAspiration Partners Inc.Financial FraudWire FraudFederal PrisonOrange CountyInvestor FraudFBI
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Federal Reserve Points to Beige Book and Digital Platforms
The Federal Reserve Board is directing the public to its "Beige Book" publication and its extensive online presence, including its official website and various social media channels.
BusinessPolitics and GovernmentEconomyBankingFederal GovernmentFinancial Markets Federal ReserveBeige BookDigital PlatformsSocial MediaWashington DCPublicationsEconomicsU.S. Federal Reserve
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Federal Reserve Releases New Supervision and Regulation Report
The US Federal Reserve has published its new Supervision and Regulation Report. This document offers details on the Federal Reserve's oversight activities and is now accessible to the public on its official website, providing transparency into regulatory functions.
BusinessPolitics and GovernmentMediaEconomyBankingFederal GovernmentFinancial Markets Federal ReserveSupervision and Regulation ReportUSFinancial RegulationU.S. Federal Reserve
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Media Monitor: Bakersfield Bank Standoff Ends with Suspect Dead, Hostages Safe
USA TODAY reports a bank standoff in Bakersfield, California, concluded with a police shooting, leaving the suspect dead and all hostages unharmed.
BusinessLaw EnforcementBanking BakersfieldCaliforniaBank standoffHostagesPolice shootingSuspectCrimeUSA TODAY