New York

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.

American Express is entering the arena of wearable payments in offering the Amex Band to cardholders attending the US Open tennis tournament in New York.

Ratings firms and mutual funds are seeing greater value in community banks because of their simplicity and local connections.

Organizers of Piermont Bank said in their application with the FDIC that they want to raise $100 million and eventually operate in several urban coastal communities.

Keith Mestrich, who runs the union-founded bank, plans to use a more liquid stock to pursue acquisitions in cities such as Boston, Seattle and Los Angeles.

Northern Credit Union in New York has shed its federal charter, while Gale CU in Illinois has converted to a community charter.

The proposed Piermont Bank would be based in Midtown Manhattan. It is the second de novo being planned in New York.

In alleging former CEO Alan Kaufman breached his fiduciary duties to the NYC-based credit union, NCUA is seeking penalties of $4.5 million.

Tiny Long Island Community Federal Credit Union has merged into $1.1 billion-asset Suffolk FCU.