In today’s top news in digital-first banking, a former Citigroup executive has joined J.P. Morgan Chase to lead Channels, while results from the Survey of Consumer Expectations (SCE) Credit Access Survey were released. Plus, Plastiq has grown its platform with an offering that will let U.S. cash be used on its platform.
Citi Exec Joins JPMorgan Chase As Head Of Channels
Lisa Davis, who served as a Citigroup executive in the past, has come on board to J.P. Morgan Chase as the firm’s new head of Channels. Davis spent more than two decades at Citigroup and most recently headed up the global venture incubation efforts for the company’s Institutional Client Group. She served as Citi’s Treasury and Trade Solutions (TTS) data governance officer before that time.
NY Fed: Credit Applications, Acceptances Plunge During Pandemic
The Center for Microeconomic Data of the Federal Reserve Bank of New York unveiled results from the Survey of Consumer Expectations (SCE) Credit Access Survey. The poll indicated that most credit applications and acceptance rates plunged following February 2020. The most sizable decreases were from credit card and credit limit requests. Auto loans took second place.
Plastiq Expands Services With Cash Payments Offering
Plastiq, the intelligence payment services company, has announced that it will let U.S. cash be utilized on its payment infrastructure, not only credit card payments. The new service will allow users to pay via their connected bank account, and they can immediately make payments without the trouble of worrying about writing a check.
Americans Could Get $600 Stimulus Checks Early Next Week, Says Mnuchin
U.S. Treasury Secretary Steven Mnuchin told CNBC that Americans should see $600 personal stimulus checks as early as next week. “This is a very, very fast way of getting money into the economy. Let me emphasize: People are going to see this money at the beginning of next week,” Mnuchin told the news outlet in an interview.