BAKERSFIELD, Calif. – Kern Schools FCU’s year-old headquarters is Kern County’s first building to become officially ‘green’. The environmentally-friendly building was certified by the U.S. Green Building Council, as ‘green’ for a number of aids that help minimize environmental impact, reduce energy consumption and ensure a safe environment for employees. Among them are: limited artificial lighting; large windows for natural light; showers and bike racks to encourage employees to bike to work; a super-efficient duct system that performs 1% leakage; and landscaping and irrigation that use 50% less water. Managers of the twin three-story buildings, opened in December 2005, say it has achieved a 50% reduction in energy consumption in the first year. Cost for the 70,000 square-foot headquarters project was $27 million.
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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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