New York

Fantasy sports sites FanDuel and DraftKings, already facing mounting legal and regulatory scrutiny, ran into more trouble when Citigroup said it was blocking transactions by New York state residents.

First Niagara Financial Group in Buffalo, N.Y., which is being sold to KeyCorp, cited restructuring and merger-related charges in reporting a 30% profit decline.

Fourth-quarter profit tanked at CIT Group in New York, as the costs to dismiss former OneWest Bank executives, and losses tied to the sale of Brazilian businesses weighed on results.

New York Community Bancorp in Westbury, N.Y., posted a fourth-quarter loss after incurring a large charge from prepaying $10.4 billion in wholesale borrowings.

JPMorgan Chase agreed to pay $995 million to resolve claims by Ambac Financial Group that it was duped into insuring mortgage bonds backed by shoddy loans, paving the way for approval of a much larger settlement between the bank and institutional investors stemming from the global financial crisis.

American International Group announced $3.6 billion in new costs to fill a reserve shortfall and said it will hold an initial public offering for its mortgage insurer and sell an adviser network as Chief Executive Peter Hancock seeks to boost returns and protect his job after criticism from activist investor Carl Icahn.

A JPMorgan Chase unit has reached an agreement to pay $1.42 billion to resolve claims it took advantage of its status as Lehman Brothers Holdings' primary lender to unfairly extract cash and position itself ahead of other creditors in Lehman's bankruptcy.

Signature Bank in New York has filed a plan to sell about $299 million in common stock.

BankUnited in Miami Lakes, Fla., reported a double-digit percentage increase in fourth-quarter profit, citing growth in loans and fee income.

The financial technology accelerator Startupbootcamp FinTech in New York has formed partnerships with Deutsche Bank, a law firm and a venture capital firm to advise its participants.

At least five regional banks on Thursday discarded concerns about the global economy, stocks, interest rates and credit quality, forecasting loan growth for the rest of this year.

KeyCorp believes it can surpass cost-cutting projections tied to its purchase of First Niagara Financial, while BB&T believes market duress could present it with more acquisition opportunities.

Bank of New York Mellon, under pressure from activist investors to boost its share price, reported fourth-quarter earnings that beat analysts' estimates as higher rates lifted revenue and non-interest expenses fell.

Signature Bank in New York reported a record profit in the fourth quarter as strong loan growth more than offset continuing weakness in its portfolio of taxi medallion loans.

JPMorgan Chase will provide $75 million for the creation of a career and technical education program to address youth unemployment.

Costs associated with M&T Bank's successful but prolonged effort to buy Hudson City Bancorp pushed the Buffalo, N.Y., company's fourth-quarter profit lower.

Fundation Group, an online small-business lender, has hired an industry veteran as its first chief operating officer.

Tompkins Financial in Ithaca, N.Y., said that its Tompkins Insurance Agencies unit bought Shepard, Maxwell & Hale Insurance.

Several small banks are beginning to offer employer-based loans, a payday loan alternative for under-banked consumers.

Banks have made changes to overdrafts, such as lowering fees offering clearer explanations. They better, as the CFPB will soon offer new rules for overdrafts. Plus, overdraft revenue has declined at many banks. Still unanswered is the question of how to offer short-term credit, if overdrafts disappear.