Demographics

Renee Christoffer will take over leading the institution when Monte Berg, the current president and CEO, steps down at the end of July.

As the market deals with the short-term challenge of getting stimulus payments into the hands of citizens, the country has a unique opportunity to put the unbanked and underbanked on a long-term path to electronic payment methods, Jim Johnson of FIS says.

As the market deals with the short-term challenge of getting trillions of dollars of relief and stimulus payments into the hands of citizens in the coming weeks and months, we as a country have a unique opportunity to put our unbanked and underbanked citizens on a long-term path to electronic payment methods, says FIS' Jim Johnson.

Community advocates would like to see changes to the 1977 Community Reinvestment Act, but say regulators should suspend such efforts until the coronavirus pandemic has passed.

Analytical technology will be key for firms looking to appeal to the next generation of customers. Having come of age in the midst of the 2008 financial crisis, secure personal finance is extremely important to this generation, says Axis Communications' Stephen Joseph.

In supporting the economic recovery from the coronavirus pandemic, lenders have a chance to restore public trust damaged in the last financial crisis. But they face tough decisions on dividend cuts, executive pay, furloughs and deeper changes to their business model in the process.

The Somerville, Mass.-based credit union appointed its VP of lending to serve as temporary CEO following the departure of its longtime leader for another institution.

Tom Meyer, CEO of 1st Capital since 2015, decided to step down because shelter-in-place orders are keeping him from family hundreds of miles from the bank.

Jonathan Dowst will become president in July and CEO a year later.

The addition of Maria Renz shows how much emphasis the San Francisco fintech is putting on operations and customer experience.

Blair Korschun, who has led CU Direct Connect since 2011, will take the helm at Christian Community Credit Union later this month.

Young consumers are demanding for new ways to pay, expecting more features and transactions to happen at a much faster pace, which means that companies need to keep up with the pace to adapt and offer the payment experience that this generation looks for, says EBANX's Henrik Nilsmo.

Tammy Heikkinen, who has led the institution since 2008, will stay on until her successor joins the credit union.

The company disclosed that an internal review of a now-discontinued loan program found that employees engaged in misconduct tied to income verification and requirements, among other things.

The House Financial Services Committee is expected to question two of the bank's former board members, raising public scrutiny to a new level for bank directors.

Rui Domingos, who was named as the Lexington, Mass.-based institution's president and CEO, has worked in the industry for almost three decades, most recently at Naveo CU in Somerville, Mass.

Potential replacements for the bank's longtime CEO include consumer banking chief Gordon Smith, investment banking head Daniel Pinto, Chief Financial Officer Jennifer Piepszak and consumer lending CEO Marianne Lake.

The maturity of "super apps" in China shows how to reach a digital generation, says EBANX's Henrik Nilsmo.

Joe Nowland will be succeeded by COO Mary Svoboda, who will lead the Jacksonville, Fla.-based credit union on an interim basis.

In underbanked markets, app-based firms can't live on digital alone, says dLocal's Michel Golffed.