Shares of Regions Financial Corp (NYSE:RF) ended Monday session in green amid volatile trading. The shares closed up +.10 points or 1.05% at $9.66 with 13.22 million shares getting traded. Post opening the session at $9.62, the shares hit an intraday low of $9.62 and an intraday high of $9.79 and the price vacillated in this range throughout the day. The company has a market cap of $12.04 billion and the numbers of outstanding shares have been calculated to be 1.26 billion shares.
On September 14, 2016 Regions Bank, together with Fundation Group LLC, a digitally-enabled small business lender, and TruFund, a Community Development Financial Institution (CDFI), jointly announced a first-of-its-kind agreement to provide small dollar loans to underserved small businesses.
Through this unique and collaborative agreement among a regional bank, a digitally-enabled lender and a CDFI, underserved small businesses that may not be eligible for traditional bank loans will have the opportunity to apply for small dollar loans for working capital and expansion activities.
This agreement allows more small businesses to benefit from TruFund’s hands-on approach to helping small businesses. Using the online lending expertise of Fundation, small business clients will have increased availability and access to funding, in as fast as 48 hours from application. Regions has also pledged to provide capital, assisting both TruFund and small business customers.
“Regions has worked with both TruFund and Fundation in the past, and bringing these two organizations together is a natural fit. It expands both of their abilities to meet client needs and provides more access to credit for small businesses,” said Joe DiNicolantonio, Executive Vice President, Commercial Banking at Regions Bank.
Sam Graziano, CEO of Fundation Group LLC, said, “This program is exactly what Fundation is built for, combining our technology and small business lending expertise with the capabilities of our partners to expand access to capital for small businesses.”
Shares of Citigroup Inc (NYSE:C) ended Monday session in green amid volatile trading. The shares closed up +0.18 points or 0.39% at $46.59 with 12.76 million shares getting traded. Post opening the session at $46.62, the shares hit an intraday low of $46.51 and an intraday high of $47.24 and the price vacillated in this range throughout the day. The company has a market cap of $133.44 billion and the numbers of outstanding shares have been calculated to be 2.91 billion shares.
On September 13, 2016 Citi and Po Leung Kuk have once again partnered to launch the Agent Penny and Will Power Series for the new academic year 2016/17. This year, for the first time, the program will transform primary schools into Financial Campuses to promote financial education and literacy among students.
To inculcate proper financial knowledge and skills in students, on top of formal classroom teaching, activities that encourage students to actively apply financial knowledge can also be very effective. In this respect, the role and participation of the schools and teachers is indispensable.
According to an evaluation report on the previous year’s Agent Penny and Will Power series1, only 30% of the interviewed teacher group felt confident about teaching financial literacy before the start of the program. However, this number soared to over 80% after they attended the training workshops. The results indicate both a demand for teacher training in financial education, and the effectiveness of the activities offered by the series in boosting their abilities to teach financial literacy.
In light of these encouraging findings, the Agent Penny and Will Power Series will place even more focus on enhancing the teaching methodologies in the 2016/17 academic year. The aim is to create a financial learning atmosphere in schools and equip teachers with the proper teaching resources. This all-round approach makes financial education more fun and interactive, and motivates students to develop the right attitude and healthy habits towards money management from an early age.
A new program feature titled “Financial Education Game Booths” will be introduced to instill financial concepts through practical experience, and encourage active learning and real life application of financial knowledge. To enhance teachers’ knowledge and skills in teaching financial literacy, there will be training resources and more teacher workshops to empower them with the skills to incorporate financial education across different academic subjects. In addition, a series of activities will take place in the coming school year, including the financial comic book, drama shows and the “Financial Cadets” initiative, which encourages students to record their expenses regularly. All these initiatives aim to create a sustainable atmosphere for learning financial knowledge, and transform primary schools into Financial Campuses.
Mr. Wayne Fong, Head of Corporate Affairs, Citi Hong Kong, said: “Citi has been partnering with Po Leung Kuk for many years to promote financial literacy in primary schools, with the support and participation of the Education Bureau as well as numerous schools across Hong Kong. We look forward to building upon our success and bringing to schools a more diverse array of activities and support materials this academic year. Through these initiatives, we hope to create a positive learning environment that will help motivate students to learn about money management and provide an opportunity for them to put into practice proper financial concepts, which will benefit them for life.”