New York

New York legislators are pledging to change laws that have allowed predatory lenders to use the state court system to seize the assets of thousands of small businesses across the country.

James Reynolds will become the president and CEO of the New York institution after James Doig retires.

Attorney General Barbara Underwood’s office is looking into whether merchant cash-advance companies engaged in fraud or abused the state court system.

The New York-based credit union has returned more than $7.6 million to members since 2003.

In a plea agreement, Kam Wong consented to forfeit and repay more than $9.8 million embezzled from the New York credit union. He is scheduled to be sentenced in April 2019.

Challenges will likely increase as interest rates rise and investors grow more concerned about a downward turn in the economic cycle.

The move allows the New York multifamily lender to make more loans without having to raise capital.

Tepid loan and deposit growth has been a persistent theme in 2018, but that could soon change for community and regional banks in the New York and Washington markets.

The mutual holding company received regulatory approval to form a limited-purpose commercial bank, allowing it to work around a state law barring mutuals from working with municipalities.

Amazon’s transit-friendly posture should provide momentum for digital ticketing and other subway improvements in Queens, N.Y., and northern Virginia — and if recent history is any indication, Amazon may take an active role in improving that infrastructure.