Sun coverage: Check cashers under scrutiny

Coverage of regulatory concerns linked to the money-service industry following check-kiting allegations against A&B Check Cashing.

August 13, 2006

Where cash is king

At Three Brothers shopping plaza in West Baltimore, residents buy groceries, tools, wine, bus passes, socks, cherry slushes and wedding rings. They get their cars washed, or wash their laundry. They cash Social Security checks, pay utility bills and get their license plates.

August 2, 2006

Carrollton ties profit fall to check kiting

Carrollton Bancorp reported yesterday that its second-quarter earnings were practically wiped out by a $1.2 million after-tax loss from an alleged check-kiting scheme by one of its commercial customers.

July 20, 2006

Satisky says kin ran A&B finances

Local businessman Brian Satisky, whose A&B Check Cashing has been accused of costing two banks and a money-order firm $10 million in an alleged check-kiting scheme, testified at a bankruptcy hearing yesterday that he didn't know about several financial matters at the company. He said his brother, Alec, handled the cash-flow bookkeeping.

July 18, 2006

Laundering laws, terror policy hurt check-cashers

Some national and regional banks are dropping as customers check-cashing operations and other money-service businesses over concerns the firms aren't following federal guidelines meant to thwart money laundering and terrorist financing.

July 8, 2006

Bank a victim of check kiting

Carrollton Bancorp said yesterday that it suffered $1.2 million in losses, which nearly wiped out second-quarter profits at the Baltimore-based community bank, from a check-kiting scheme that might have victimized another area bank and a money-order business.

July 6, 2006

Carrollton Bancorp is looking into check kiting

Carrollton Bancorp, a Baltimore-based community bank, is investigating whether it was duped in an alleged check-kiting scheme that may have cost several area financial institutions millions of dollars.

July 4, 2006

State closes check casher

The state ordered a chain of Baltimore check cashing stores to cease operations last week because of debts owed to a money order business and three Maryland banks, according to a document obtained yesterday by The Sun.