ALBURQUEQUE, N.M. – The CU Association of New Mexico said yesterday it has signed a co-branding deal with PAYjr for the company’s youth financial education program. Under the deal, the state league will offer a PAYjr CU Succeed Prepaid Card that allows parents to program allowances and rewards for their teenagers. The card allows parents to track and manage their teenagers’ expenses and spending. The PAYjr system also allows text messaging and email notifications to keep parents and teens aware of card activity, including balances and loads to the card. Parents can also use the PAYjr program to assign, manage and track household activities and to track money earned by their children.
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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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