New York

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.

Paul Aguggia, a lawyer before leading Clifton Bancorp, has become a partner at Holland & Knight in New York.

The Poughkeepsie, N.Y.-based credit union agreed to pay $95,000 to settle claims that it incorrectly repossessed vehicles of service members.

Strong growth in the bank's core business of multifamily lending was offset by higher rates it paid on CDs and borrowed funds.

New York's new AML rules clarify how institutions should monitor transactions and screen sanctions lists issued by the US Office of Foreign Assets Control (OFAC). But critically, it goes a lot further, writes Sophie Lagouanelle, Head of Solutions at Accuity.

Kam Wong has been accused of submitting requests for fake expense reimbursements when he ran Municipal Credit Union.

The company will record a quarterly charge after reporting potential fraud tied to commercial deposit accounts.

NCUA liquidated LOMTO Federal Credit Union following years of significant losses due to poorly performing taxi medallion loans.

The $1.1 billion-asset credit union will move to Fiserv's DNA platform while implementing other services from the technology provider.

The resulting institution will hold more than $1.6 billion in assets and serve nealry 50,000 members.

Bennett Bradley, BB&T's chief digital officer, discusses how an investment in Enigma, which helps companies leverage data, fits within the regional bank's fintech strategy.

Kanas, who returned to the banking industry as part of the recapitalization of the failed BankUnited, will relinquish the company's chairmanship at the end of this year.

After months of negative headlines, including administrative charges against a former CEO, regulators shuttered the NYC-based credit union.