Tag: New York


US regulators shutter New York’s Signature Bank following SVB collapse

March 13, 2023

Via: FinTech Futures

In 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

CFPB, New York AG sue auto lender Credit Acceptance for deceiving borrowers

January 4, 2023

Via: American Banker

The 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

NY Department of Financial Services Releases Guidance for Use of Blockchain Analytics by Virtual Currency Entities

June 6, 2022

Via: JD Supra

The 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 […]

Capital and Risk, Operational

Small New York bank reports data breach

March 14, 2022

Via: American Banker

Lake 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 […]

Activity, Investment Banking

US banking start-up Novo lands $40m in Series A round

June 21, 2021

Via: FinTech Futures

The 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 […]

Activity, Investment Banking

Deutsche could scatter half of its New York staff within 5 years, exec says

December 15, 2020

Via: Banking Dive

The 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 […]


Deutsche Bank faces $150m fine for Jeffrey Epstein ties

July 9, 2020

Via: Banking Technology

New 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 […]


New York regulator plans to ease cryptocurrency rules

June 26, 2020

Via: Banking Technology

Under 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

New York region manufacturers are the most optimistic since coming out of the financial crisis

June 15, 2020


Manufacturing 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 […]

Activity, Insurance

Insurance Fraud Case in New York May Impact First Party No-Fault Benefits

February 14, 2019

Via: Insurance Journal

A 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, […]

Activity, Corporate Banking

BankUnited Promotes Three Executives in Florida and New York

January 29, 2019

Via: ABF Journal

BankUnited 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 […]

Activity, Insurance

New York Finalizes Regulations to Crack Down on Title Insurance Industry

October 18, 2017

Via: Insurance Journal

The 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 […]