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CU System Briefs (10/22/2013)
  • CLEVELAND, Ohio (10/22/13)--Fugitive credit-union executiveAlex Spirikaitis, former CEO the defunct Cleveland-area credit union, Taupa Lithuanian CU, which regulators shuttered on July 15, has been arrested in Collinwood by FBI agents, reported the Oct. 21 online version of The Plain Dealer. The FBI declined to describe the arrest or to say how they tracked Spirikaitis to the Collinwood area, but did report that the arrest was about 3:15 p.m. local time and that it occurred as the former fugitive walked down a street. The article reported that FBI agent Vicki Anderson said Spirikaitis had significantly changed his appearance by shaving his goatee, losing weight and allowing his formerly shaved hair to grow out. The former credit union exec is wanted for "false credit institution entries" related to the collapse of the $23.6 million-asset credit union ...
  • WASHINGTON (10/22/13)--Consumer Financial Protection Bureau staffers answered frequently asked questions about a variety of rules in a Mortgage Bankers Association webinar last week. Their answers focused on routine queries about mortgage servicing and loan origination rules. Topics included ARMs, prompt crediting, periodic statements, error resolution and information requests, force-placed insurance, general servicing policies, procedures and requirements, early intervention, loss mitigation, the Truth in Lending Act, the Equal Credit Opportunity Act and the Real Estate Settlement Procedures Act...
  • NORTH COUNTY, Calif. (10/22/13)--A former employee of Pacific Marine CU, who used to process fraud claims, stands accused of defrauding members herself (San Diego Union-Tribune Oct. 20). Prosecutors have alleged that Schrelle Lachae Malone, 35, secretly activated members' ATM cards to steal approximately $20,000. Pacific Marine sends new ATM cards to members as their current one approaches expiration--they're sent back if the member is serving in the military and on active duty. Malone, a fraud claims clerk at an Oceanside branch, is accused of using 14 of the stored cards to carry out the theft. She worked on the claims of three of her alleged victims, including one case in which she allegedly altered a report to hide an ATM withdrawal. Malone pleaded not guilty last week to 18 charges, and faces a sentence of more than 14 years, if convicted. Pacific Marine CU is based in Oceanside, Calif., and has more than $675 million in assets...
  • WASHINGTON (10/22/13)--The U.S. Department of Treasury has released new educational material for credit unions and others through the Community Development Financial Institution Fund. The information, published in conjunction with the "Stengthening Small and Emerging CDFIs" series, includes training curriculum for organizational growth, effective business models, community development advice, and organizational change management...


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