HOUSTON—Smart Financial Credit Union is urging other credit unions to join it in a program that seeks to help teachers who come to the U.S. from abroad and who are in need of financial assistance. Several representatives of Smart Financial’s business development team have just returned from Monterrey, Nuevo Leon, Mexico to offer financial assistance to Mexican citizens hoping to become bilingual teachers in the United States. Smart Financial’s International Teacher Program helps educators from Mexico and Spain get settled in the United States by offering up to $3,000 in Signature and/or CreditLine loans. “With the number of Texas students requiring bilingual education at an all-time high, school districts in the state continue to increase their effort.
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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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