New York

KeyCorp hit fresh political resistance in New York to its $4.1 billion acquisition of First Niagara Financial Group Inc., with Governor Andrew Cuomo pushing federal regulators on Wednesday to block the deal. Shares of both companies fell.

Former JPMorgan Chase executive Achilles Macris was fined $1.1 million for failing to tell authorities about concerns he had with the bank's activities in the "London Whale" case.

Fantasy sports sites FanDuel and DraftKings, already facing mounting legal and regulatory scrutiny, ran into more trouble when Citigroup said it was blocking transactions by New York state residents.

First Niagara Financial Group in Buffalo, N.Y., which is being sold to KeyCorp, cited restructuring and merger-related charges in reporting a 30% profit decline.

Fourth-quarter profit tanked at CIT Group in New York, as the costs to dismiss former OneWest Bank executives, and losses tied to the sale of Brazilian businesses weighed on results.

New York Community Bancorp in Westbury, N.Y., posted a fourth-quarter loss after incurring a large charge from prepaying $10.4 billion in wholesale borrowings.

JPMorgan Chase agreed to pay $995 million to resolve claims by Ambac Financial Group that it was duped into insuring mortgage bonds backed by shoddy loans, paving the way for approval of a much larger settlement between the bank and institutional investors stemming from the global financial crisis.

American International Group announced $3.6 billion in new costs to fill a reserve shortfall and said it will hold an initial public offering for its mortgage insurer and sell an adviser network as Chief Executive Peter Hancock seeks to boost returns and protect his job after criticism from activist investor Carl Icahn.

A JPMorgan Chase unit has reached an agreement to pay $1.42 billion to resolve claims it took advantage of its status as Lehman Brothers Holdings' primary lender to unfairly extract cash and position itself ahead of other creditors in Lehman's bankruptcy.

Signature Bank in New York has filed a plan to sell about $299 million in common stock.