WESTERLY, R.I. - (01/23/06) Westerly Community CU isrecruiting new members at a new venuethe local elementaryschoolthanks to a new promotion. Bank Day,sponsored by the credit union, provides financial education to theyoung students, while allowing them to join the credit union. Usinga curriculum provided by Save for America, the credit union teachesthe kids savings skills and signed up new members. The credit unioneven provided the first dollar for each new account and the kidswere allowed to deposit as little as one cent. Plans call for thecredit union to introduce the program in seven more elementaryschools.
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JPMorganChase and Bank of America raised concerns about the proposed removal of risk-weighted assets from the denominator of the short-term wholesale funding component of the GSIB surcharge — changes backed by Goldman Sachs and Morgan Stanley.
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House Speaker Mike Johnson, R-La., reportedly plans to send the recently passed housing bill to the White House on Monday, starting a 10-day clock for the president to sign the bill.
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The global payments platform, which recently expanded to the U.S., also plans to build new autonomous finance and agentic commerce products.
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A new lawsuit seeking class-action status alleges that FirstBank Puerto Rico knowingly facilitated Jeffrey Epstein's sex trafficking operation by failing to enforce basic anti-money-laundering and know-your-customer rules.
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Pinnacle Financial Partners' headquarters is moving to a new 25-story office tower in Midtown Atlanta; New Jersey-based Provident Bank appoints Adriano Duarte to succeed Thomas Lyons as chief financial officer; Binance will shut down services for customers in France, Italy, Spain and Poland after the exchange withdrew its MiCA licence application in Greece; and more in this week's banking news roundup.
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The bank is part of a trend of financial institutions trying to streamline a complicated industry that paper has dominated for years.
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