New York

WorldRemit has launched international remittance services in New York, one of the last big U.S. markets where it lacked a money transmitter license, positioning the company for a growth surge this year.

The company will still use the building for its main office, but it will move its administrative staff to another building.

Former banker Eric Hepkins will take over from Ann Hood Feb. 28, the $422 million credit union reported.

The company, which has been actively curbing growth to avoid becoming a systemically important financial institution, reported lower loan balances and reduced fee income after exiting the residential wholesale mortgage business.

The results included a $222 million goodwill impairment charge and other one-time items.

Meta Financial expects to originate $500 million to $1 billion in personal loans as part of a three-year partnership with Liberty Lending in New York.

The online vehicle-buying program has added 250 credit union partners since 2015.

The New York company recorded more than $130 million of expenses tied to its October purchase of Astoria Financial.

The New York multifamily lender is making steady progress in a multiyear effort to reduce its dependency on commercial real estate.

While Starbucks is making a tentative move into cash refusal at one location, it's unlikely any retailer would widely refuse cash payments in the near term.

BNY Mellon plowed some of its tax law savings into restructuring efforts.

Lower East Side People's Federal Credit Union's case against the appointment of Mick Mulvaney as head of the CFPB turns on whether it has standing to sue.

Leonard Stekol, Ridgewood's president, succeeded Peter Boger, who ran the bank for 18 years.

The company, which sold about $3 million in stock through a private placement, also plans to add branches on Staten Island.

PHH Corp. agreed to a $45 million settlement to resolve allegations from 49 states and the District of Columbia that it engaged in "foreclosure process abuses" involving "inconsistent signatures" in its servicing business from 2009 to 2012. The settlement comes as the nonbank mortgage company continues its legal challenge to a separate regulatory action by the CFPB.

Kevin Stein, who runs a private equity firm, has also supervised banking groups at Barclays and FBR Capital Markets.

Amalgamated in New York wants to enter several left-leaning cities across the country, but it might be tough to find more like-minded banks to buy.

Bankers remember Bob Wilmers not only for spearheading the growth of M&T, but also embracing his role as the industry's voice in turbulent times.

The purchase will significantly increase Hancock's assets under management and administration.

A representative from Basswood Capital will become a director in May.