ALBANY, N.Y. - (03/27/06) Disabled individuals, thehomeless and disadvantaged children will receive free financialliteracy training under an innovative new program launched hereFriday by State Employees CU. The program, geared towardsdisadvantaged residents, will provide lessons in householdbudgeting, understanding credit reports, repaying debts, holding achecking account, payday loans, homeownership options, and othercritical financial skills. SEFCU has partnered with the New YorkState Office of Temporary and Disability Assistance and the AlbanyDepartment of Social Services to deliver the program, which isscheduled to start April 7. The program is specifically targetingchildren aging out of foster care, people evicted from their homes,Medicaid and Food Stamp recipients, grandparents caring for theirgrandchildren, and others lacking in basic bankingskills.
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The president and his allies have stepped up their verbal attacks on the Federal Reserve and its chairman in recent weeks, and while the tough talk has not changed policy, it has sent a clear message to the financial sector.
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Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.
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The application follows on the heels of Circle and Wise, as crypto and payment companies seek crypto custody approval and direct access to the Federal Reserve payment system.
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The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.
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Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.
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Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.
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