WASHINGTON (CN) – If a state bank that is not a member of the Federal Deposit Insurance Corporation follows certain rules, it may participate in financial education programs at schools in which it receives deposits, pays checks, or lends money, without receiving prior approval from the FDIC.

      The conditions are that the services are provided at the school and at the discretion of the school, the program must be primarily for financial education and not profit-making and must use safe and sound banking practices and comply with applicable laws.
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