Tag: Banking News

Houston Woman Pleads Guilty To Wire Fraud

CHARLOTTE AMALIE — Marvelous Eghage, 39, of Houston, Texas pleaded guilty to one count of wire fraud before U.S. Magistrate Judge Ruth Miller on Monday. According to court documents, between February 26, 2018, and March 13, 2018, Eghage devised a scheme to fraudulently obtain money and property by means of materially false and fraudulent pretenses […]

Banco Popular Is The First Virgin Islands Bank To Offer ‘Cities for Financial Empowerment Fund’

CHARLOTTE AMALIE — Banco Popular’s commitment to its customers and its community was recently recognized when its Popular Checking Account, available for Virgin Islands clients, received a certification from the prestigious non-profit entity Cities for Financial Empowerment Fund. This certification was granted after complying with the Bank On National Account Standards (2021 – 2022) for […]

Mastercard, Trinidad & Tobago Fast Track Its Digital Transformation

PORT OF SPAIN — Mastercard and Trinidad & Tobago International Financial Center (TTIFC) announced their partnership to develop and implement strategic solutions that advance digital and financial inclusion by supporting fintech companies on the island. This agreement between Mastercard and TTIFC will accelerate digitalization. Through this partnership, Mastercard will leverage its global technology platforms, insights, […]

Biggs Taps 2 Women For Top Posts At VIEDA’s Economic Development Bank

CHARLOTTE AMALIE — Kelly Thompson Webbe and Monique Samuel were recently appointed as Chief Financial Officer and Managing Director of the Economic Development Bank (EDB), respectively, at the Virgin Islands Economic Development Authority (VIEDA) in July 2021, according to an announcement from Wayne L. Biggs, Jr., VIEDA chief executive officer.  Each woman served previously in […]

Cryptocurrencies, Central Banks and the Caribbean: OP-ED By David Jessop

In less than three months’ time, El Salvador intends becoming the first country in the world to make Bitcoin its official currency alongside the U.S. Dollar. The country’s president, Nayib Bukele, a populist and media savvy disruptor, says that his decision will generate employment, enable the financial inclusion of tens of thousands of the country’s […]

Eastern Caribbean Dollar Goes Digital, A Help For Unbanked

SAN JUAN — The Eastern Caribbean has created its own form of digital currency meant to help speed transactions and serve people without bank accounts. The Eastern Caribbean Central Bank said its “DCash” is the first such blockchain-based currency introduced by any of the world’s currency unions, though some individual nations have similar existing systems. […]

V.I. Department of Labor Bounces Checks To Unemployment Insurance Recipients This Week

CHARLOTTE AMALIE — Local residents who received an NSF Unemployment Insurance check from the Virgin Islands Department of Labor this week are being asked to redeposit those checks into their bank accounts, the Department said. VIDOL said a “timing issue” affecting all UI recipients who don’t bank with Popular Bank left the Department with egg […]

The Difference Between Online And Bank Loan Applications

If there is one thing that most people share, it is the concern about financial security and money in general. Sooner or later, most people find themselves in debt –– whether that is credit card payments, mortgages, or anything. There are those that try to think of innovative solutions to their financial woes, so they […]

2nd St. Croix Woman Charged In Theft $4K From Old Woman’s Credit Card

FREDERIKSTED — The second of two St. Croix women charged with stealing $4,000 from an elderly woman’s credit card was arrested recently, authorities said. Detectives of the VIPD Economic Crimes Unit arrested Marjorie Harry, 46, on a bench warrant for aggravated identity theft, forgery, obtaining money by false pretense, grand larceny, and fraudulent use of […]