Americas

Brim Financial contends there's an innovation gap for installment lending that favors larger lenders.

Two banking bills signed by Gov. J.B. Pritzker carry implications for payday lenders, auto title lenders, credit unions and nonbank mortgage lenders. Pritzker, a Democrat, said the bills will address racial-equity gaps in the state.

Paul Marsh resigned as president and CEO of the South Bend, Ind., credit union on Tuesday after 30 years there. An interim chief has been named and the board is searching for a permanent successor.

The fintech, which has applied for a California banking license and federal deposit insurance, aims to become a full-service online bank for 1 million Americans by year-end, says Ron Oliveira, its U.S. chief executive.

Timothy Collia will step down from the Portsmouth, N.H.-based institution later this year. A search for his successor is already underway.

The Rhode Island institution's next CEO has led lending operations at nearby Navigant Credit Union since 2017.

Longtime leader John Young plans to retire at the end of 2021, and the credit union has hired Humanidei to find a replacement.

After digging deep into member data, Randolph-Brooks FCU in Texas developed a marketing campaign aimed at persuading JPMorgan Chase clients to switch to the credit union's own card. It's an effort its peers could imitate.

The nation's second-largest credit union is thanking all full-time employees for their work since COVID hit. But even as vaccinations ramp up, remote work will be the norm for several more months.

Until regulatory reforms are introduced, nonbanks won’t have direct access to Payments Canada's Real-Time Rail, a situation that risks stifling innovation.