Demographics

The Ohio Democrat and chairman of the Senate Banking Committee told a virtual gathering of the American Bankers Association that FedAccounts, a plan opposed by industry trade groups, will lead to more bank customers.

Organizers of the proposed Our Community Bank still need to raise $18 million before opening.

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

Since late last year, a number of large and regional banks have either replaced their CEOs or announced plans to do so in the coming weeks. Here's an introduction.

Harmening, set to take the helm of Associated Banc-Corp next month, is being asked to replicate the digital transformation he led at Huntington Bancshares. His career path is a signal to the industry’s rising stars that the road to the corner office includes hands-on technology work.

Chris Hendry has served on the credit union's board but has spent his career in health care and philanthropy. He said many of his skills are easily transferable, including a focus on marketing and community engagement.

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.