RALEIGH, N.C. – State Employees’ CU Foundation yesterday announced the renewal of its ‘People Helping People’ program, the largest credit union scholarship program in the nation. The three-year-old program provides a $10,000, four-year college scholarship to a graduating senior form every one of the state’s traditional public high schools and two charter high schools to help pay tuition at school in the University of North Carolina System. The program has already provided $7 million in scholarships since its 2004 inception, and will top $10 million in the latest round. The scholarships are funded solely by SECU members, who have agreed to route their $1 monthly checking fee to the $14 million credit union’s charitable Foundation.
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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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