Demographics

Verizon Family Money is an app and prepaid debit card where children can spend under the limits set by their parents.

With a big assist from M&T Bank, the software developer Magnusmode has added step-by-step instructions for conducting essential banking activities to its mobile service that caters to consumers on the autism spectrum.

The average American’s financial picture is bleaker than government data suggests, according to the former comptroller of the currency. Research from his new organization, the Ludwig Institute for Shared Economic Prosperity, has found that unemployment is higher and household wages are lower than reported by the Bureau of Labor Statistics.

High-tech videoconferencing is no replacement for high-touch in-person meetings. Yet some bank directors who are vaccinated remain hesitant to return to boardrooms.

Sarah Dahlgren, who joined the scandal-plagued company in 2018, is departing of her own accord, according to a spokesman.

The former Fed vice chairman is the fourth new appointee to Klarna’s board since December. The Swedish buy now/pay later company has been enjoying rapid growth in the United States.

Sherry Cornell, who has led the Ashtabula, Ohio, credit union since 2002, is stepping down next month.

In a pandemic-scarred year, boards and compensation committees at 60 large and regional banks relied less on the normal performance metrics and more on qualitative criteria to determine bonus payments.

Charlotte Cash will step down from CommonWealth One Federal Credit Union in Alexandria, Virginia, and Glenna Jarvis plans to leave her position at Missouri Central Credit Union in Lees Summit.

Regulators must urgently usher the unbanked or underbanked individuals into the wider financial ecosystem as they continue to craft open banking rules, says FISPAN's Clayton Weir.

The top executives at Bank of America, Citigroup and Wells Fargo all received less compensation during a year shaped by the pandemic, while several regional bank CEOs got large pay hikes.

The Springfield, Virginia, credit union named Scott Benson, its chief operating officer, to succeed Lynette Smith as chief executive.

The consumer and community banking unit of the nation's largest bank will be run by Jennifer Piepszak and Marianne Lake, two would-be contenders for the CEO role when Jamie Dimon retires. The company also named a new chief financial officer.

Dean Marchessault will be succeeded by Senior Vice President Howard Brady at the East Hartford, Connecticut, credit union.

JPMorgan Chase has named two executives to key technology posts, including the first Black chief information officer of a company unit; Ally Financial's chief digital officer has bolted for Live Oak Bancshares; and Amalgamated Bank has landed a veteran Australian banking executive as its new CEO.

Lindy Andry has been Ascentra Credit Union's interim president and CEO since November.

Many younger people are looking for financing and are averse to traditional credit cards, says Four's Chaim Lever.

The 13-year company veteran will succeed Johannes “Johs” Worsoe on June 1. He will report to the firm’s newly named CEO in the Americas.

The National Association of State Credit Union Supervisors has started a national search to replace President and CEO Lucy Ito.

The Charlotte, N.C., company and the nonprofit Operation HOPE already partner to provide coaching at nearly two dozen counseling centers within Truist’s branches. They plan to add 26 more counseling hubs, serving 1,000 Truist branches, by 2025.