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Groups want to close a loophole and put industrial loan companies under the same regulations as banks.

Mike Akeen Obed is sentenced to 18 months in federal prison for stealing more than $200,000.

The proposed class action lawsuit argues creditors face the prospect of seeing millions of dollars "eradicated" under the new law.

Prosecutors say Helen Godfrey-Smith did not disclose that Shreveport FCU was financially troubled and failing.

At least three others are also likely to have exceeded $4 billion in the first quarter, following 13 in 2021.

Thirty-year CEO John Faust will retire after the transition process.