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HONOLULU— The former manager of a now-shuttered credit union on the small Hawaiian island of Molokai has been sentenced to seven years in prison after being found guilty of conspiring with another employee to steal more than $1 million–one third of its assets.

NEW YORK—The digital wallet woes continue.

BATON ROUGE, La.–Campus Federal Credit Union has named a successor for its retiring CEO.

SAN FRANCISCO—Wells Fargo is retreating from the Midwest.

WASHINGTON—Acting Director Mick Mulvaney will seek a 20% cut in funding for the Bureau of Consumer Financial Protection, to bring funding back to the 2015 level.

WASHINGTON–The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) said it is pausing acceptance of new applications for certification as a Community Development Financial Institution (CDFI).

MADISON, Wis.–The 14 credit unions that have acquired 16 banks since 2012 all had higher capital ratios, greater returns on both assets and equity and lower loan net charge-off ratios than peer group credit unions by the end of 2017, according to an analysis released by the Filene Research Institute.

WASHINGTON—A congressional committee has voted to reject a measure to protect financial institutions that open accounts for marijuana businesses from being punished by federal financial regulators.

NEW YORK—American Express AXP is closer to becoming the first U.S. card network to offer services in China.

GLENDALE, Ariz.–Credit Union West has earned a “Top Companies to Work For” award for the sixth year in a row.