Aug. 14, 2025
| Today’s news and insights for banking industry leaders
An Alabama banker made roughly 273 fraudulent ACH transactions totaling over $2.3 million, the DOJ said. Last week, the Fed banned an ex-First Horizon banker over embezzlement charges.
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Richard Kim told investors his company was developing a cryptocurrency-enabled gaming app, then “gambled away substantially all of the company’s money,” prosecutors said.
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The treasury secretary is delayed in complying with a conflict-of-interest agreement to divest certain investments, including farmland. He received an extension and pledged to comply, but that’s not enough for some.
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Credit unions are centering on people plus tech instead of profits, and that will define the future of financial services.
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Nathan Reis, the fintech’s co-founder, is scheduled to be sentenced Nov. 21 and faces up to 20 years in prison.
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The crypto firm’s renewed application for a national trust charter comes shortly after being fined by the NYDFS, connected to its past relationship with Binance.
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Prosecutors plan to recommend a sentence of 12 years, and $19 million in penalties, as long as Kwon doesn’t commit any more crimes.
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As digital costs rise and privacy rules tighten, banks need new ways to connect. This infographic breaks down 5 steps to win customer trust.
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