Latest news with #UMBBank
CBS News
17-07-2025
- CBS News
Fourth victim shares photo of Colorado bank fraud suspect's ID, police ask for public's help
A woman believed to be targeting banks in Denver and Longmont may have struck again. A fourth victim with an account at a fourth bank has reached out to CBS Colorado with a possible photo of the suspect's fake ID. CBS Colorado has been following this identity theft scheme for weeks. On Monday, Longmont Police asked for the public's help identifying the suspect. Each victim has shared a similar story of an unknown woman walking into their bank with a fake ID that had their information on it. Victims say the suspect had names, addresses, answered personal security questions, and even closely matched the account holder's signature. A fourth victim reached out to us on Wednesday but said this time, bank staff noticed the ID may have been fake and confiscated it. On June 30, the suspect can be seen on a security photo at a bank in Denver successfully taking out more than $80,000 from what the victim says was their line of credit. On July 2, she can be seen in another security photo trying the scheme again in Longmont, but Longmont Police say the suspect was turned away when the teller recognized she wasn't their regular customer. On the 9th, victim documents show the suspect went to another bank in Longmont and took out more than $100,000 in their line of credit. The latest victim sent us a photo of what she says is a fake ID from the suspect last Thursday when she got turned away at another Denver bank. The banks that local police have confirmed to us so far are UMB Bank in Denver, Adams Bank and Trust and First National Bank of Omaha in Longmont. Police say they don't have a report for that fourth bank yet, so we are not sharing the bank's name yet, but the victim says the fake ID has been turned over to police. CBS Colorado is continuing to work to verify these new details. In total, victim records show the suspect has now successfully taken more than $200,000 from two regional banks, with two other failed attempts. Local police are now asking for the public's help to figure out who this woman is as they also investigate how she got enough information about the victims to do this. Many of the victims are trying to figure out anything they may have in common. So far, no arrests have been made. To protect their funds, victims say they're working with their individual banks to add a safe word or passkey to their accounts. When it comes to identity theft or fraud, the Justice Department also recommends that everyone put fraud alerts on their credit cards and monitor their bank accounts. Denver and Longmont Police asked anyone with information to call in.
Bloomberg
13-06-2025
- Business
- Bloomberg
Chicken Fat-to-Fuel Project Is the Latest Green Muni Bond to Default
A Mississippi facility that raised $22 million in securities to help convert poultry waste into biodiesel has defaulted. That marks at least the second green bond default to hit the muni market this month. The tax-exempt bonds with an 8% coupon were sold by the Mississippi Business Finance Corp. in December 2022 on behalf of Alden Group Renewable Energy. UMB Bank, which is the trustee for bondholders, said the borrower failed to make a June 2 interest payment. Earlier this month, about $40 million of green municipal bonds issued to build a cow manure-to-natural gas facility on a Wisconsin farm also defaulted.
Yahoo
27-05-2025
- General
- Yahoo
FBI searching for man who robbed bank near Country Club Plaza
KANSAS CITY, Mo. — A search is underway after FBI Kansas City investigators said a man robbed a bank Tuesday morning near the Country Club Plaza. Just after 9:30 a.m., the FBI Kansas City office said a white man entered the UMB Bank — located at 4920 Main Street — and presented a note to the employees that demanded money. 21-year-old KC man hospitalized after Memorial Day rollover crash The man then fled the scene, leaving with an undisclosed amount of cash. Luckily, no injuries were reported. According to the FBI Kansas City office, the man was described as 5'5″ to 5'9″, slender and wearing a brown-hooded sweatshirt. He was also wearing a black T-shirt under this sweatshirt, brown pants and multi-color tennis shoes. KHP searching for family of victim who died in I-35 crash Saturday morning If you or anyone you know has information about the robbery suspect, FBI Kansas City asks that you call (816) 512-8200 or the TIPS Hotline anonymously at (816) 474-8477. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
CBS News
08-04-2025
- Business
- CBS News
How much would a $175,000 HELOC cost monthly in 2025?
If you're a homeowner with a big financial expense on the horizon or have plans for projects around the house, a home equity line of credit (HELOC) is a popular way to fund your endeavors. Now is an excellent time to consider opening a HELOC, as the average homeowner has $313,000 of home equity built up in their home and HELOC rates have dipped under 8% . A HELOC is a line of credit you can borrow from whenever you need it, up to your account limit. It's a flexible source of funding that requires interest-only repayments for what you borrow during your draw period . So, if you open a $175,000 HELOC to fund home renovations and repairs , you could pull money from your line of credit incrementally as your projects progress and pay back only the interest on what you take out. Home equity loans and cash-out refinances are two other ways to tap your home equity but neither offers the flexibility a HELOC does. So, if you're ready to get a $175,000 HELOC, it helps to know how much it would cost you per month to have a HELOC of that size. We've done the calculations for you, noting your monthly costs for two different HELOC repayment terms. Find out how low your HELOC rate could be here . As you calculate the cost of having a HELOC, it's important to know that HELOC rates are variable . Whereas a home equity loan has a fixed rate that doesn't change, HELOC rates can change regularly based on a variety of factors. Right now, a variable rate is an advantage because HELOC rates are low and have been consistently declining. However, rates could rise as easily as they fall, so be prepared for shifts in your monthly payments over time. That being said, here's how much a $175,000 HELOC would cost monthly in 2025 at today's rates if rates remain the same: Knowing that HELOC rates can change, here's what your monthly payment for a $175,000 HELOC would look like if rates fell 0.5%: Here's what your rates for a $175,000 HELOC would look like if rates rose 0.5% compared to today's rates: A 0.5% increase or decrease in rates could change the monthly payment on a 10- or 15-year $175,000 HELOC by around $50 a month. Take your first step in securing a HELOC today . HELOC rates have steadily declined this year, hitting 18-month and two-year lows. For context, HELOC rates were above 10% in January 2024 and exceeded 9.80% in May and September last year, according to Bankrate data . On December 31, rates were 8.36% and have dropped by more than 0.40 percentage points since. Here's a monthly overview of how far rates have fallen to date in 2025, according to Bankrate: Low HELOC rates right now make them an attractive way to access your home equity. However, the downward trend in rates doesn't guarantee that rates will continue to fall . There's always a chance rates can creep up just as they've done in the past. Keep this in mind as you incorporate your HELOC payment in your monthly spending, says Tom Holtam, vice president, senior regional delivery manager at UMB Bank. "Most HELOCs have a variable interest rate, meaning your rate, and therefore your minimum payment requirement, are subject to change, which can make it trickier to budget over the repayment period," Holtam says. With an average rate of 7.90% right now, a HELOC is an affordable way to get access to $175,000 for homeowners with sufficient equity. With such a big sum of money at play, though it's important to remember a few basic principles of responsible HELOC borrowing. Primarily, only borrow what you need, make sure you have a clear purpose for the line of credit and remember that your home is used as collateral for your line of credit, says Michael Branson, CEO of All Reverse Mortgage. "A HELOC can be a great tool, but since your home is the collateral, you don't want to borrow more than you actually need or take it out without a solid plan," Branson says. "Before applying, make sure you have a clear reason — whether it's home renovations, debt consolidation or another major expense — and figure out how you'll pay it back. The flexibility of a HELOC is great, but it's easy to overspend if you're not careful."
Bloomberg
25-03-2025
- Business
- Bloomberg
Struggling College Gives Bondholders Rights to President's House
La Roche University, a private Catholic university in Pennsylvania, is giving bondholders a mortgage on the college president's home as extra protection. The provision was included as part of a forbearance agreement that the college reached this month with UMB Bank, the trustee for bondholders, according to a regulatory filing. The five-bed, 3 1/2-bath residence, which is similar to others in the neighborhood, is worth an estimated $682,000, according to Zillow.
