CNote, an Oakland-based fintech, announced that Apple will use the CNote platform to deploy $25 million into underserved communities across the country. Apple's $25 million commitment is part of its broader Racial Equity and Justice Initiative, an effort to address systemic racism in America and expand opportunities for communities of color. The new funding builds on Apple's previously announced commitments to expand economic empowerment and support entrepreneurs of color. CNote has deployed an initial round of Apple deposits to mission-driven financial institutions, including ANECA Federal Credit Union in Louisiana; Bank of Cherokee County in Oklahoma; Carver State Bank in Georgia; Education Credit Union in Texas; First Southwest Bank in Colorado; Hope Credit Union, which serves Alabama, Arkansas, Louisiana, Mississippi and Tennessee; Kaua'i Federal Credit Union in Hawai'i; Latino Community Credit Union in North Carolina; Legacy Bank in Missouri; Optus Bank in South Carolina; Self-Help Federal Credit Union, with locations in California, Illinois, Washington and Wisconsin; and VCC Bank in Virginia.

Anguilla banker Kit McCoy has been elected to the Executive Council of the Mississippi Young Bankers, a section of the Mississippi Bankers Association. McCoy serves as compliance officer and senior mortgage lender for Bank of Anguilla. McCoy started in banking as a part-time teller 22 years ago while she was a college freshman. She earned her BSE from Delta State University, and she is a graduate of the Mississippi School of Banking at the University of Mississippi and the Graduate School of Banking Louisiana State University. McCoy also earned the designation as a Certified Regulatory Compliance Manager in 2020.

"The SBA's Equity Action Plan reaffirms our agency-wide commitment to breaking down longstanding barriers to ensure underserved entrepreneurs can access the capital, networks, resources, and opportunity they need to realize their American dream of business ownership," said Administrator Guzman. "Alongside plans from over 90 other federal agencies, the SBA's Equity Action Plan aims to level the playing field for all small businesses and startups, a priority of the Biden-Harris Administration, and empower them to compete in an increasingly global economy and navigate new opportunities presented by transformational legislation, such as President Biden's Infrastructure and Investment Jobs Act (Bipartisan Infrastructure Law)."

On Monday, Quontic Bank began offering customers an unassuming black band embedded with contactless payment technology that they can use at point-of-sale terminals. Such devices exist in other countries. Visa introduced near field communication-enabled rings for Olympic athletes in 2016; the London-based Kerv emerged in 2017 from a Kickstarter campaign; a bank in Australia rolled out the Halo ring in 2018. Some ring-makers advertise availability in the U.S. But Quontic, a $916 million-asset community development financial institution in New York City, says it is the first financial institution to offer one in this country. Will consumers take to a debit card disguised as jewelry when they can already pay by hovering their cards, smartphones, fitness trackers or smartwatches above a contactless terminal?