JACKSON, Miss. – HOPE Community CU said yesterday it awarded a $7,100 grant to Mississippi Council on Economic Education to train teachers for its Financial Fitness for Life program. The Council will train 30 economics teachers with research-based lessons on financial literacy and provide financial incentives for students who achieve a high level of financial competency. Up to 50 students will earn $100 for scoring the highest on student assessments. Pilot testing for the program in Jackson, Poplarville, Rankin and Hinds counties schools last year showed a vast improvement in students financial literacy.
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The central bank extended the deadline for comments on Regulation O by one month, to Nov. 4.
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The Brazil-based digital bank, which recently launched a U.S. business, submitted an SEC filing to stop the spread of misinformation.
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The bank-owned payments company has been developing an interoperable payments network that will allow banks to clear and settle tokenized deposit transactions. It's targeting an early 2027 launch for the network, and is working toward an atomic future thanks to bank demand.
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More states are providing funding to community development financial institutions, which are contending with hostility from the Trump administration and challenges from high interest rates.
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Chicago-based Northern Trust has started its search for a new CFO as David Fox plans to retire in March; the American Fintech Council has been appointed as an observer on the Conference of State Bank Supervisors' newly formed nonbank industry advisory; Wells Fargo has hired JPMorganChase investment banker David Harkin to advise on technology deals, and more in this week's banking news roundup.
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A proposal is meant to ensure advisors can trade client assets on a discretionary basis without triggering onerous custody requirements, while also giving them a self-custody option for crypto.
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