DETROIT – Michigan First CU, the one-time teachers credit union, awarded $1,000 scholarships to 82 graduating high school seniors during its annual student scholarship reception on June 24.
The scholarship program honors college-bound high school seniors who are members of Michigan First and attending one of the participating high schools within the communities it serves.
In the past seven years, the credit union has awarded nearly $400,000 in scholarships.
Regulators want firms to spot where several critical functions ride on one provider, a question the department's earlier vendor guidance did not ask.
The digital asset and card-issuing firms are supplying the guts to enable transactions for cards and digital wallets, betting that Mastercard's ties to both firms will be attractive to banks, consumers and merchants.
North Carolina-based First Citizens BancShares completes its acquisition of 138 branches across 11 states; City National Bank appoints Chad Lloyd senior vice president and head of RBC U.S. Mortgage; London-based payments processor Checkout.com launches its U.S. subsidiary in Georgia; and more in this week's banking news roundup.
Advisors can leverage the updated opportunity zone program, starting in January, to help ultrahigh net worth clients defer capital gains.
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Bank and credit union regulators proposed a rule that would apply more supervisory oversight to core service providers, saying the firms sometimes provide little transparency to banks and can disrupt due diligence processes.
