New York

The bill, backed by the New York Credit Union Association, has cleared the Senate, but a companion bill is stuck in committee in the Assembly.

Similar to a law passed two years ago in California, legislation headed to the New York governor’s desk would require fintech and other nonbank lenders to uniformly disclose total cost of capital, APR and other metrics to potential borrowers.

Combining the two Southern California-based institutions will create the state's eighth-largest credit union. The deal is also a homecoming of sorts of Xceed CEO Teresa Freeborn, who was previously an executive at Kinecta.

Paycheck Protection Program loans were out of reach for the myriad of cash-based enterprises or underfunded businesses that are key to economic growth in the country. This could change the very fabric of New York City, with businesses that were part of people's everyday life disappearing.

The New York-area companies' $489 million agreement runs counter to recent merger pacts built around branch cuts and more tech spending.

The deal will create an $11 billion-asset banking company with operations in a number of markets around New York City.

Michele Dean takes the helm from Ralph Spencer, Jr., who will retire later this month.

The Department of Financial Services is going live with DFS FastForward, which aims to help innovators in finance, healthcare and insurance consult directly with regulators on specific compliance issues.

One criticism of the CARES Act is that it provides relief only to borrowers with government-backed loans. Bills in New York and California would cover the remaining 30% of homeowners.

One criticism of the CARES Act is that it provides relief only to borrowers with government-backed loans. Bills in New York and California would cover the remaining 30% of homeowners.