LENEXA, Kan. - (06/21/06) For ever so briefly24hoursone 17-year-old member of the Credit Union of JohnsonCity was a millionaire. As a member of the credit unionsSolid Saver Program, Alyssa Corcoran won possession of a 12-month$1 million CD and got to feel what it was like to beMillionaire for a Day. Even though themillion-dollars was taken away, the teenager got to keep thedays interest on the 4.5% certificate, which came out to$123, and was rounded up by the credit union to $125. Butthats not all. When she was announced as the winner,Corcoran was interviewed at the credit union by the DJs live onlocal FM radio station STAR 102, who told her she also won fourtickets to see American Idol star Kelly Clarkson perform live inKansas City later this summer. Then she was taken to pick up hertickets in a chauffeur-driven limousine. There could nothave been a more fitting winner of our Savers contest. Shetypifies what this promotion is all about, Kathy Saunders,business development officer for the credit union, told The CreditUnion Journal. Corcoran in is one of four daughters of long-timemembers of the credit union.
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BNY, Huntington Bank, U.S. Bank, American Express, Visa, Mastercard, Stripe, and Coinbase are just a few of the companies that have signed on to use the dollar-backed stablecoin issued by technology firm Open Standard.
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Securities and Exchange Commission Chair Paul Atkins said tokenized bank deposits are likely to be a reality in 2027, and added that he is working with banking agencies on digital assets and capital requirements.
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After two different community bank M&A deals, Flagstar Bank consolidated its data centers from six facilities to two as part of its tech integration strategy.
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The bank deepened its relationship with Circle Internet Group, letting institutions store, transfer, mint and burn USDC.
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As a subsidiary of Bank of America, Merrill uses a BofA software program to monitor and report suspicious activity. For years, the Securities and Exchange Commission says, that program fell short.
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The Federal Deposit Insurance Corp. says executives "gambled" with depositor funds, while the former parent company argues regulators are using hindsight to second-guess what were reasonable business decisions at the time.
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