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Banking Business News

First National Bank to move headquarters to former Civic Arena site

First National Bank (FNB) will be moving its corporate headquarters to the former Civic Arena site in Pittsburgh’s Lower Hill District.

Source: First National Bank to move headquarters to former Civic Arena site

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Banking crime Robbery

Couple faces charges after $120K accidentally deposited in account

A Pennsylvania couple is accused of theft after going on a shopping spree with $120,000 that was mistakenly deposited into their bank account.

Robert Williams and his wife, Tiffany Williams, appeared in court Tuesday after they spent two and a half weeks blowing through most of their accidental windfall on expenses such as cars, bills and a camper, news station WNEP reported.

Both Robert, 36, and his 35-year-old wife were arraigned on charges for theft and receiving stolen property.

Source: Couple faces charges after $120K accidentally deposited in account

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arrest Banking crime News Opinion

1MDB: Malaysia Files Criminal Charges Against Goldman Directors – Bloomberg

Malaysia expanded efforts to prosecute Goldman Sachs Group Inc. employees it alleges were involved in the 1MDB fraud, filing criminal charges against more than a dozen current and former senior executives based around the world.

Vice Chairman Richard J. Gnodde, who heads the Wall Street firm’s international business in London, and J. Michael Evans, a former partner at the U.S. bank who’s now president of Alibaba Group Holding Ltd., were among those named. Other high-profile people charged include a former adviser to Margaret Thatcher and the bank’s chief risk officer.

The 17 current and former employees were directors of three Goldman Sachs units that Malaysia has accused of misleading investors when arranging $6.5 billion in bond sales for the state investment fund, whose full name is 1Malaysia Development Bhd., in 2012 and 2013.

Source: 1MDB: Malaysia Files Criminal Charges Against Goldman Directors – Bloomberg

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Banking Business News Opinion

The Fed cut rates for the first time since 2008 – CNN

Washington (CNN Business)The Federal Reserve on Wednesday lowered interest rates for the first time since the Great Recession in 2008 to help stave off the possibility of an economic downturn.

Policymakers led by Fed Chairman Jerome Powell voted 8-2 in favor of a small cut in the federal funds rate, and recommitted to their promise to “act as appropriate” to sustain the country’s longest economic expansion in history.

Source: The Fed cut rates for the first time since 2008 – CNN

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Banking Business Legal News Opinion

Equifax Data Breach Settlement Totals Up To $700 Million : NPR

The credit reporting agency will pay up to $700 million in fines and monetary relief to consumers over a massive 2017 data breach that affected more than 148 million people.

The proposed settlement, which is subject to approval by a federal court, was announced Monday by the company, the Federal Trade Commission, the Consumer Financial Protection Bureau and 50 states and territories.

The consumer data exposed in the breach included Social Security numbers, birthdates and addresses and, in some cases, driver’s license numbers.

Source: Equifax Data Breach Settlement Totals Up To $700 Million : NPR

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Banking crime Robbery

PITTSBURGH BANK ROBBERY: 1 arrested after bank robbery in downtown Pittsburgh | WPXI

The PNC Bank on Fifth Avenue in downtown Pittsburgh was robbed Tuesday.

Source: PITTSBURGH BANK ROBBERY: 1 arrested after bank robbery in downtown Pittsburgh | WPXI

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Banking Food Opinion Politics

Gov. Tom Wolf signs bills to help agriculture marketing, foster young farmers in Pennsylvania

Legislation to help Pennsylvania agriculture was signed into law Monday, including measures to foster younger farmers, help clean water going into Chesapeake Bay and expand butchering services for small farmers.

Source: Gov. Tom Wolf signs bills to help agriculture marketing, foster young farmers in Pennsylvania