Demographics

The Virginia-based credit union has appointed Executive Vice President Lisa Lambrecht as a temporary successor to former President and CEO Delbert Lee Morgan, following his move to Pen Air FCU.

The St. Louis-based institution is the latest in the industry to create an executive-level position focused on diversity, equity and inclusion.

Six startups that seek to cater to Black and Hispanic consumers outside the financial mainstream are attracting heavy interest from investors. However, the new banks will vie with megabanks eyeing those same customers and with established minority-owned institutions suddenly brimming with new capital.

Michael Corbat’s departure comes as Citigroup is facing fresh scrutiny from regulators about its underlying technology and internal controls, work that will continue on incoming CEO Jane Fraser’s watch.

The CEO of Chase Consumer Banking and a member of JPMorgan’s leadership team, Thasunda Brown Duckett has been tapped to replace Roger Ferguson as CEO of the retirement services provider.

The founder of Commerce Bank in New Jersey and Metro Bank in the United Kingdom has served as Republic First's chairman since 2016.

Several large and midsize banks are investing millions of dollars in Black-run banks, while four community banks have started a fund to make interest-free commercial loans in underserved communities.

Some in the industry are beefing up online educational offerings and enlisting social media ambassadors on college campuses to help recruit younger consumers.

Norwegian browser Opera Limited has launched Dify, a wallet that will support payments and cash-back rewards through a virtual Mastercard debit card.

Harris Simmons, the chairman and CEO of Zions Bancorp., updated investors Wednesday on his cancer diagnosis, saying a CAT scan last week did not detect the rare form of non-Hodgkin’s lymphoma with which he was diagnosed in November.