Core Insights - Camden National Bank has launched Family Wallet, a free youth banking platform aimed at instilling healthy financial habits in children aged 5 to 17 [1][2][3] - The platform allows children to earn, save, and spend money in a secure, parent-controlled environment, reflecting the bank's commitment to innovation and financial education [4][5] Company Overview - Camden National Bank, founded in 1875, is Northern New England's largest publicly traded bank holding company with over $7 billion in assets and 72 banking centers [6] - The bank has a long history of supporting youth education and financial literacy, which is further emphasized by the launch of Family Wallet [2][5] Market Context - Children aged 5 to 17 are estimated to have over $360 billion in spending power, with a significant shift towards debit cards and mobile apps [3] - Family Wallet is designed to meet this trend by providing a secure debit card and a mobile app that empowers children to manage their finances [3] Partnership and Compliance - Camden National Bank partnered with Rego Payment Architectures, Inc. to deliver the Family Wallet platform, ensuring compliance with the Children's Online Privacy Protection Act (COPPA) [4][8] - REGO is recognized for its commitment to child data privacy and offers financial literacy tools for families [8]

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