New York

Chemung Financial in Elmira, N.Y., is set to form an insurance unit.

Banks have rushed to the exits when it comes to Fannie Mae and Freddie Mac debt securities. Federal liquidity rules seem to be prompting big banks to do so, but why small banks are unloading the bonds, too, is more of a puzzler.

Cattaraugus County Bank in Little Valley, N.Y., has named Salvatore Marranca chairman less than two years after he retired as its chief executive.

At a recent hearing in Harlem, community leaders and others expressed their desire for the United States Postal Service to offer financial services.

The Securities and Exchange Commission has filed fraud charges against two attorneys it says stole money from small-business owners seeking commercial loans.

Truxton Trust's approach is just one strategy banks are using attract more wealthy clients. But whether they are exploring out-of-market opportunities, staying local or employing robo-advisers, banks all have the same goals: to generate more fee income at a time when margins from lending continue to shrink.

Maria Vullo, still stuck in limbo as acting superintendent of the New York State Department of Financial Services, is hindered from putting her mark on the agency until she gets confirmed. So a quiet guessing game is going on about how her supervisory philosophy will compare with her predecessor Benjamin Lawsky.

Cameron and Tyler Winklevoss's Gemini Trust Company LLC has gotten a New York State regulator's blessing to trade another kind of cryptocurrency on its bitcoin exchange.

Signature Bank in New York has added former New York state banking supervisor Derrick Cephas to its board.

Serving on a bank board is a tough gig, and the fact that a number of bank directors sit on the boards of four or more public companies is raising questions about whether they are too busy to be good watchdogs.