LAKELAND, Fla. - (10/13/05) -- Community First CU said it isfunding a club in the local high school that has one mainmembership requirement: to submit to random drug testing. Thecredit union said it donated $12,000 to the Polk County SchoolDistrict to be sued to start the Voluntary Student Drug Testingprogram, similar to clubs in schools in Wisconsin and Louisiana.Club members would be tested by a nurse on a biweekly basis forrecreational drug use, and would be eligible for prizes like giftcertificates. Student athletes in the district already are testedfor drugs, but some parents and teachers in the district wanted thetesting program to be broader. Students who test positive would besuspended from the club and receive counseling, and their parentswill be informed of the test results.
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In its latest financial stability report, the Federal Reserve found that asset valuations continue to be elevated and leverage levels remain high, especially among nonbanks like hedge funds and insurance firms.
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Federal Reserve Board Gov. Stephen Miran said the growth of stablecoins and cryptocurrencies will likely impact monetary policy and could lead to lower interest rates.
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The Spanish bank says it can connect small and medium-size U.S. businesses with local market experts on its newly launched digital platform Navigator Global.
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The Pittsburgh-based bank said Friday that it will focus on building 300 branches in high-growth markets by 2030. It also minimized the prospects for another acquisition on the heels of its recent deal for Colorado-based FirstBank.
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Consumers' and merchants' penchant for 0% loans are boosting the buy now/pay later lender in its first fiscal quarter ended Sept. 30, as gross merchandise volume hit a record.
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HoldCo Asset Management drops its pursuit of proxy battles with Columbia Banking System and First Interstate; Cape Cod's Mutual Bancorp prepares to acquire Bluestone Bank; Servbank HoldCo announces plans to acquire IF Bancorp; and more in this week's banking news roundup.
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