New York

Transit has pushed contactless payments in the U.K., and it will happen in the U.S. too, according to Daniel Kornitzer, chief business development officer for Paysafe Group.

Less than a month after Municipal was placed into conservatorship, former CEO Kam Wong received a 66-month prison sentence along with an order to repay millions he embezzled from the credit union.

A planned merger between Van Cortlandt Cooperative FCU and USAlliance FCU was called off despite approval from regulators.

Grasshopper Bancorp will target the innovation economy in New York City and other markets across the country.

The parent of Ponce Bank has agreed to acquire Mortgage World Bankers.

While regulation and nonbank competition are spooking some banks and credit unions, others believe low funding costs and the right relationships can help them succeed.

All-electric, zero-emission vehicles make up less than 2% of the market, but a handful of credit unions see an opportunity despite some unusual variables.

While regulation and nonbank competition are spooking some banks, others believe low funding costs and the right relationships can help them succeed.

Regulators placed the $3 billion-asset institution into conservatorship less than a year after the New York City-based CU fired President and CEO Kam Wong in the wake of embezzlement charges.

Undeterred by setbacks in other cities, a broad coalition of community groups is seizing on popular mistrust of traditional banks to press the case for a city-owned bank.

The moves are part of a plan CEO Rajinder Singh discussed in a conversation with American Banker.

Housing advocates and Democratic lawmakers want to create more protections for tenants of rent-controlled apartments, but they are facing stiff opposition from property owners and the banks that lend to them.

The company said it could use proceeds from selling common and preferred stock to increase lending and add branches.

Hudson Valley Federal Credit Union wants to eventually add eight counties to the four it currently serves.

It just got harder for banks in Georgia to enforce noncompete agreements in employee contracts. For employees of two merging banks, BB&T and SunTrust, the timing couldn’t be better.

The Department of Financial Services has created a statewide financial protection division focused on corporate compliance and consumer issues, in line with steps taken by New Jersey and Pennsylvania.

The good times continue to roll for two New York City marshals whose work collecting debts for predatory lenders is making them millionaires.

"If you gathered the U.S.-based senior counsels of the major Chinese banks operating in the United States," said Joseph Loffredo, assistant general manager and chief financial officer at the New York branch of China Merchants Bank, "you'd find one outlier, a lady about half the age of most of the others."

In a strategy that other CUs could follow, Concord Federal Credit Union is working with a local nonprofit to provide better access to financial products in central Brooklyn.

A successor to Robert Allen, who has led the $7.3 billion-asset institution for more than three decades, should be named soon.