March 13, 2023
Via: FinTech FuturesIn a joint statement, Treasury secretary Janet Yellen, Federal Reserve board chair Jerome Powell, and Federal Deposit Insurance Corporation (FDIC) chair Martin Gruenberg outlined how they are taking “decisive action” to strengthen confidence in the banking system. As well as […]
Capital and Risk, Credit, Regulations
January 4, 2023
Via: American BankerThe Consumer Financial Protection Bureau and New York’s attorney general sued subprime auto lender Credit Acceptance Corp. Wednesday for deceiving borrowers about the true cost of car loans, violating state usury laws and failing to disclose charges and terms to […]
Capital and Risk, Operational, Regulations
June 6, 2022
Via: JD SupraThe New York State Department of Financial Services (NYDFS) recently issued guidance on the use of blockchain analytics for all virtual currency businesses that either have a BitLicense or are chartered as limited purpose trust companies under the New York […]
March 14, 2022
Via: American BankerLake Shore Savings Bank in Dunkirk, New York, disclosed in a financial statement to investors that it had suffered a data breach after hackers gained access to customers’ personal information. The bank, which recently reported it has just under $600 […]
June 21, 2021
Via: FinTech FuturesThe financing round was led by Valar Ventures with participation from Crosslink Capital, Rainfall Ventures, Red Sea Ventures and BoxGroup. The start-up aims to use the investment to scale its platform and “more than double” the number of staff by […]
December 15, 2020
Via: Banking DiveThe prospect of moving teams to lower-cost areas isn’t new. Goldman Sachs, for example, has based staff in Salt Lake City since 2000. Dallas, too. And last week, it reportedly was considering moving its asset-management arm to South Florida. Executives […]
July 9, 2020
Via: Banking TechnologyNew York state regulators says the bank had suffered “significant compliance failures”, processing hundreds of transactions for the late financier. Those included payments to Russian models and $800,000 in “suspicious” cash withdrawals. Deutsche Bank says it “deeply” regretted its relationship […]
June 26, 2020
Via: Banking TechnologyUnder the proposed framework, crypto hopefuls can collaborate with authorised companies. These companies include existing BitLicense holders or firms with trust charters in the state. DFS expects firms that apply for the conditional licence to eventually make an application for […]
Capital and Risk, Macroeconomic
June 15, 2020
Via: CNBCManufacturing activity snapped back to life in the New York area this month as optimism for future activity hit its highest in almost 11 years. The Empire State Manufacturing Survey posted a reading of -0.2 in June after hitting record […]
February 14, 2019
Via: Insurance JournalA high-profile insurance fraud case on appeal in New York is being closely watched by fraud fighters across the country for the impact the decision will have on no-fault law. The case, Andrew Carothers, M.D., P.C. v. Progressive Insurance Company, […]
January 29, 2019
Via: ABF JournalBankUnited promoted three members of its leadership team: Cristina di Mauro to senior executive vice president, commercial line of business executive, Lisa Shim to executive vice president, head of consumer and small business banking and Jaclyn Coffin to senior vice […]
October 18, 2017
Via: Insurance JournalThe New York Department of Financial Services (DFS) has finalized two new regulations to protect New Yorkers and crack down on unscrupulous practices in the title insurance industry. These regulations, which are the culmination of efforts by DFS to reform […]