Finance
California high schools will require personal finance course for graduation under new bill
Beginning with the graduating class of 2031, high school students in California will be required to complete one semester of a personal finance course before receiving their diplomas.
On Thursday, Gov. Gavin Newsom signed legislation to require personal finance education for high school graduates after the state Senate and Assembly passed Assembly Bill 2927. This makes California the 26th state to require finance-related instruction for graduating high school seniors.
The standalone course, which would teach students to expand their financial literacy through topics like minimizing bank fees and managing credit scores, would be offered early as the 2027-28 school year.
“Our young people need and deserve a clear understanding of personal finance so that they can make educated financial choices and build stable, successful futures for themselves and their future families,” State Superintendent Tony Thurmond said in a press release. “By adding personal finance to our high school graduation requirements, we acknowledge that managing household finances and building financial stability are essential life skills.”
Superintendent Thurmond, who sponsored the bill, said that “every child should have the opportunity to build these essential skills before navigating adult financial choices.” The content considered for the personal finance curriculum would also include budgeting principles, investment options and consumer protection awareness.
High schoolers may be able to substitute the new personal finance course for their semester-long economics course, which is currently required for graduation throughout the state. School districts and charter schools may also provide students the option to complete a yearlong course to further expand their financial literacy.
In order to enhance the creation of this curriculum, State Superintendent Thurmond announced efforts in March to build a personal finance task force that would support the implementation of these required courses for K-12 students throughout California.
Superintendent Thurmond and the California Department of Education plan to work with education experts from the Instructional Quality Commission to develop a curriculum guide and resources, expected to be adopted in 2026.
Finance
Low-income Chinese girl aces gaokao, inspires live-streamers offering help
A girl from a disadvantaged rural family in central China topped this year’s gaokao, attracting numerous live-streamers eager to finance her education, which she declined.
The home of 18-year-old secondary school graduate Han Yaping in a Henan province village was recently bustling with live-streamers.
This attention came after Han achieved an impressive score of 699 out of 750 in the gaokao, China’s national college entrance exam.
She has received offers from China’s two leading universities, Tsinghua University and Peking University.
Han’s accomplishment is particularly remarkable given her family’s impoverished circumstances.
Her mother suffers from ankylosing spondylitis, an inflammatory arthritis affecting the spine, preventing her from working. Her father, who earns a living through farming and odd jobs, serves as the family’s sole provider. Han also has a younger sister.
Finance
UK financial regulator publishes landmark AI review
The UK’s Financial Conduct Authority (FCA) published a landmark review on Monday that proposes recommendations to regulate the impact of artificial intelligence (AI) on the financial decisions made by consumers.
The review, titled the Mills Review, anticipates that both consumers and firms will start delegating “more financial decision-making to AI systems,” including for agreements, initiating transactions, and executing decisions “within agreed parameters.” One of the key findings of the review outlined that while AI can help bridge advice gaps and “support growth,” there remain risks “associated with fraud, cyber security, and consumer harm.” Conducting the review, Sheldon Mills highlighted that “AI can also amplify risks: bias, discrimination, exclusion, opaque decision-making (particularly when multiple AI models interact), misleading or hallucinatory advice and erosion of consumer trust.”
The review stated that presently, one in five adults in the UK are “already open to AI making decisions for them,” particularly when decisions feel “complex or high stakes.” It found that roughly 26 percent of the population “trust general-purpose tools such as ChatGPT, Claude or Gemini for financial advice” with little awareness that such platforms provide no “formal routes to recourse” or protections.
Overall, the Mills Review identified four areas that it anticipates will be impacted by AI in the financial sector: “the transformation of firms,” “new consumer journeys,” “a reshaped competition landscape,” and “amplified financial crime and cyber risk.” The FCA projected the shift in how consumers and firms consult AI to take place by 2030.
The Mills Review put forth seven “priority” recommendations to be considered by the FCA Board. It recommended that any transitions to autonomous AI models be monitored and that regulatory frameworks and perimeters be adapted and secured. The review called for the strengthening of “system-wide coordination and oversight,” the scaling up of the FCA’s AI Lab to enable it to support AI models and innovation for agentic finance, and an “AI-enabled agentic supervisory model” to be built and adopted. Finally, it recommended that a trusted “public-interest AI-enabled financial capability service” be developed.
The FCA announced, in the press release, that it will launch an AI “good and poor practice publication” in late 2026.
Finance
Fayette County Public Schools Board of Education approves audit contract, new finance director position
LEXINGTON, Ky. (WKYT) – The Fayette County Public Schools Board of Education approved a one-year audit contract capped at $131,750 plus $225 per hour during a virtual meeting Monday, along with a new finance director job description.
The contract is with Mauldin & Jenkins Certified Public Accountants, an Atlanta-based firm, and covers the 2025-26 fiscal year and the restatement of the 2024-25 fiscal year and ancillary services through FY 2029-2030. The work is set to be completed by Nov. 15.
The board approved the contract in a 5-0 vote.
Audit contract details
Interim Chief Financial Officer Kyna Koch said the cost is already accounted for in the district’s budget.
“And is actually less than we expected given our current situation — we were thrilled with the bid,” Koch said.
Koch said she believes this is Mauldin & Jenkins’ first school district audit in Kentucky, but that the firm works with school districts of more than 100,000 students throughout the Southeast.
“Quite frankly when I spoke to the folks at KDE they were thrilled because we’re running kind of short of auditors who want to do school district audits — so all around I think this was a win-win for everyone,” Koch said.
New finance director position
The board also approved a new job description for the position of Director of Finance. Acting Superintendent Dr. Bill Bradford said the title will replace two associate director positions.
“Which will not only save the school district money but it’s also going to streamline our work and align internal controls to make room for a more efficient unit,” Bradford said.
Koch said the position will be posted as soon as possible following the board’s approval.
Closed session
The board went into closed session for more than an hour to discuss pending investigations that could lead to employee discipline. When the board returned, it took no action and adjourned the meeting.
Copyright 2026 WKYT. All rights reserved.
-
Louisiana34 seconds agoHeart of Louisiana: Lafitte Wetlands
-
Maine6 minutes agoMaine’s 10 most expensive home sales from June
-
Maryland13 minutes agoMaryland Lottery Mega Millions, Pick 3 results for July 7, 2026
-
Michigan16 minutes agoMichigan Supreme Court rules rape admission invalid due to LSD use
-
Massachusetts21 minutes agoMassachusetts man dies in Fiji after becoming critically ill on sailing trip
-
Minnesota28 minutes agoGiordano’s deep dish pizza bringing second location to Minnesota
-
Mississippi31 minutes agoPolice investigating video of Nolan Wells’ alleged argument on Horn Island before Mississippi teen went missing
-
Missouri36 minutes ago
Missouri Lottery Mega Millions, Pick 3 winning numbers for July 7, 2026