Retirement

The country's second-largest bank has unveiled a digital platform for retirement decisions — not on how to save, but how to disburse those savings in a steady, sustainable way.

A government database banks rely on to find out about deaths suddenly grew dramatically last month. Now, live immigrants are also getting added to it.

It's time to drag sclerotic, paper-based U.S. federal payment operations into the digital future. The technology exists, and America's global competitors are already putting it to use.

John Watt, 65, will step down in May after more than seven years as president and CEO of NBT Bancorp in Norwich, New York. The plethora of internal candidates to succeed him made the decision a no-brainer, Watt says.

Greg Wilson of the Wall Street giant's Asset & Wealth Management unit wants to provide employees with tailored plans using a blend of technology and personal financial coaching.

Banks and fintechs are coming together to help older customers with a variety of needs, from avoiding financial exploitation to planning for the future.

While academics and supporters of the "retirement security rule" proposal say the administration's numbers are valid, critics reject them. Here's what we know.

Employees are still struggling with their financial obligations, and less than half feel good about their financial situation.

Curt Farmer, CEO of the Dallas company, defends its management of a Treasury Department program that provides federal benefits on prepaid cards. He says a recent American Banker investigative article "ignores the fact that Comerica took steps to protect Direct Express users when it became aware that a third-party vendor had not followed program protocols for reviewing customer inquiries."

Comerica's shoddy handling of its Treasury contract to manage Social Security and veterans benefits — including outsourcing fraud claims to a vendor in Pakistan — is emblematic of how the banking industry treats the poor.

A Comerica Bank executive admitted to major failures in its handling of the Treasury Department's Direct Express program, including data and resolved fraud disputes sent to a vendor's office in Lahore, Pakistan, a "serious" contract violation.

The Chinese government has forced banks to deny Chinese emigrants access to their retirement savings. What Beijing will demand next is anybody's guess.

Charlie, a digital banking service, will advance users their Social Security benefits and will try to act like a "smart, kind and trusted nephew."

Ultraconservatives in the House have dominated the public discussion on the U.S. debt ceiling, but Speaker Kevin McCarthy can't afford to ignore GOP centrists if the country is to avoid a catastrophic payments default later this year.

Blair will succeed longtime executive Kessel Stelling as chairperson of the bank's board of directors after joining Synovus in 2016 and moving into the CEO position last April.

SCU Federal Credit Union in Brockton, Massachusetts, named Glenn Parsons its new president and CEO. He succeeds James Carlson, who is stepping down after 22 years in the position.

Sandia Area Federal Credit Union in Albuquerque has named Kevin Todd as its next CEO. He will replace Paula Peknik, who will retire after a 38-year career with the $1.1 billion-asset credit union.

Gulf Winds Credit Union in Pensacola has hired Daniel Souers as its next president and CEO, effective Oct. 1. He will succeed Chris Rutledge, who is retiring.

Brad Warner will retire as president and CEO of the Chambersburg, Pennsylvania, credit union in early 2023. Patriot has formed a committee and hired Modern Executive Solutions to conduct the search for Warner's successor.

Chris Conway will step down as president and CEO of Educational Systems Federal Credit Union early next year. He will be replaced by Chief Financial Officer Girado Smith.