HARRISBURG, Pa. - (09/09/04) -- The state has unveiled a pilotprogram that will allow divorced parents to receive theirchild-support payments via ATM-style debit cards, instead of paperchecks. The pilot will be operated in Dauphin County for about6,300 child-support recipients, with plans to expand the programstatewide. The change is expected to save the state, but also thoseunbanked recipients who must often pay high fees to cash theirchild-support payments. Under the program, conducted in conjunctionwith MasterCard International, parents will be able to use a debitcard to make purchases and get cash back with no fee. They can alsogo to credit unions and banks that accept MasterCard and withdrawmoney form their account for no fee. The cards can also be used atATMs that accept MasterCard, although there is a 95-centfee.
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Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
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The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
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The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
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Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
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The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
April 25