ORLANDO, Fla. – CFE FCU announced yesterday a new partnership with The City of Life Foundation to offer savings accounts for children in foster care by waiving the requirement for an adult co-signer. The deal will provide kids 13 through 18 a place to track their savings and provide access to ATMs around Central Florida. After the kids turn 18, they will be able to open full-service checking accounts. CFE FCU is one of the biggest credit unions in Central Florida, with 113,000 members and more than $1 billion in assets.
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A critical U.S. cybersecurity law sunsets Sept. 30, and banks say losing it would weaken defenses against hackers.
September 6 -
The megabank will continue its international retail strategy by opening business in Germany next year, starting by offering savings accounts to consumers.
September 5 -
The Consumer Financial Protection Bureau has released a packed agenda centered on rewriting rules ranging from small business lending to open banking while rescinding several rules finalized under the Biden Administration last year.
September 5 -
A cohort of U.K.-based fintech founders are fundraising to launch a digital bank for high net worth individuals, known internally as "Project Arnaud."
September 5 -
Equity Bancshares is expanding into Nebraska with the proposed acquisition of Omaha-based Frontier Holdings; Valley National Bancorp taps Patrick Smith as its new president of consumer banking; Northern Trust in Chicago promoted Michael Hunstad to president of asset management; and more in this week's banking news roundup.
September 5 -
Jeffrey Stanley and Mark Paverman have been charged with mismanaging Synapse Brokerage accounts and failing to preserve emails and instant messages, among other things.
September 5