TAMPA, Fla. – The senior prom will go on at Chamberlain High, thanks to Suncoast Schools FCU–even after the class advisor was charged with looting the funds saved for the annual coming-of-age pageant. Florida’s largest credit union pledged Friday to replace the $9,701 police say was embezzled through a Suncoast Schools account by class advisor Cheryl Foster-Lawrentz; funds that hundreds of seniors helped raise by washing cars, picking up trash and serving refreshments during the school’s sporting events. The 32-year-old teacher was suspended last week after she was charged with grand theft and fraud in the case. She allegedly deposited 21 checks made out to Chamberlain High School into her personal credit union account between November 2005 and December 2006. Most of the money is gone, according to police. School officials began investigating Foster-Lawrentz, who has taught special education for the past 10 years and also served as senior advisor, after a tip from a suspicious credit union official.
-
The central bank extended the deadline for comments on Regulation O by one month, to Nov. 4.
October 2 -
The Brazil-based digital bank, which recently launched a U.S. business, submitted an SEC filing to stop the spread of misinformation.
October 2 -
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.
October 2 -
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.
October 2 -
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.
October 2 -
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.
October 2









