HERNDON, Va. - (06/02/06) More than 400 seniors atHerndon High School participated with employees of Northwest FCU ina role-playing Reality Store to help teach themfinancial aspects of every day life. The credit union sent 30 ofits employees to lead student groups and guide them through variousfinancial scenarios of everyday life, like budgeting, home buying,paying taxes and taking out student loans. At the start of the gameeach student was give a this is your life scenario,which included their marital status, gross annual income and numberof children. Students then had to complete worksheets to determinetheir net income and design a budget to cover basic monthlyexpenses while leaving enough for clothing, entertainment andunexpected expenses.
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The payments fintech recently introduced AI agents to its lineup of products banks and credit unions can pick from and add to their existing technology stacks.
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Haiqu's new encoding technique allows quantum computers to process high-dimensional financial data, showing improved performance in spotting anomalies.
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The Virginia-based bank had been an example of what can go wrong when banks partner with fintechs. After being released from an OCC enforcement action, Blue Ridge is now focused on operating as a traditional community bank, said CEO Billy Beale.
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The payments company is expanding the transfer app in an effort to entice more consumers to use the service as their primary banking relationship
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Customers of fintechs like Yotta and Juno, who in some cases lost their life savings, may start to get reimbursed out of the agency's Civil Penalty Fund, but no timeline has been announced for repaying them.
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MetroCity Bankshares in Doraville, Georgia, plans to finalize its acquisition of First IC Corp; Rockefeller Capital Management's Brian D. Riley will join BNY Wealth as global head; Blackstone appoints former Morgan Stanley rainmaker Franck Petitgas to a top role in Europe; and more in this week's banking news roundup.
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