NEW YORK STATES OF MIND: "It's just more lucrative to build luxury housing" if affordable-housing requirements become too strict, says Deborah Wright, CEO of Carver Bancorp. But Investors Bancorp executives "want to be lenders in New York City," even if it gets more costly, says Joseph Orefice, its head of CRE lending.

Banks Try to Fend Off Affordable-Housing Mandate in New York

A movement to jump-start affordable-housing development is gathering momentum in New York and elsewhere, and bankers are concerned that new mandates would cut into their profits on loans for such projects.

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