Retirement

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.

Kent Oram will step down on Dec. 31 after more than 15 years as president and chief executive of ICCU.

Gary Furtado will retire from his position as president and CEO of Navigant Credit Union, a position he has held since 1987, by the end of the year.

The credit union has promoted Daniel Wolford to be its president and CEO. He succeeds Jeffery Trickett, who recently retired.

Pete Gates, president and CEO of Michigan Schools and Government Credit Union in Clinton Township, Michigan, will retire at the end of 2022. The search has begun for his successor.

Rick Schmidt, who has been the credit union's chief executive since 2010, plans to step down in January.

The aging of the American workforce is expected to hit the financial industry especially hard. So banks are considering nontraditional job candidates, finding bigger roles for young employees and moving those planning their departures into advisory roles.

There is little doubt that growing and protecting wealth is a critical pillar in everyone's financial plan. But what about maintaining and improving your health?