Sarah Canepa Bang will serve as a senior advisor to the agency's vice chairman. Separately, a 27-year veteran of the regulator announced plans to retire.
The pandemic has altered a variety of consumer behaviors, and that could make a difference in what sort of interchange and interest revenue financial institutions see in their credit and debit portfolios as they close out 2020.
The payments company reported a substantial increase in both credit and debit card usage for the annual shopping event as the pandemic has made consumers even more comfortable with online purchases.
New analysis from CO-OP Financial Services showed credit union members veering closer to traditional card usage, but the lack of additional pandemic relief could hamper interchange growth this fall.
CO-OP, a credit union payments firm, has teamed with the fintech to expand usage of digital payments offerings. But it's unclear to what extent members want those services.
A new report finds credit unions' edge in satisfaction rates has all but been wiped out, while a separate study finds negative interactions with CU staff could have a big impact on the bottom line.
