New York

Hanover Bancorp is facing a proxy battle after its CFO and two other bankers bolted to a rival.

The company agreed to acquire Alliance Benefit Group of Illinois, which has more than 600 clients and 40,000 plan participants.

Luis Massiani has been the company's chief financial officer since 2012.

As more consumers order in using such services as Uber Eats and Grubhub, restaurants are selling fewer desserts, drinks and other high-margin items, said CEO Rajinder Singh.

The city would join San Francisco and Philadelphia among cities that prohibit stores and restaurants from only accepting electronic payments.

While the New York bank has a handle on deposit pricing, Joseph DePaolo said a new accounting standard will play tricks with how it addresses credit quality.

U.S. Rep. Carolyn Maloney (D-N.Y.) has called on the National Credit Union Administration to halt all sales and foreclosures of taxi medallion loans it obtained following the liquidation of several New York-area credit unions with high concentrations of delinquent medallion loans.

Federal legislation introduced this week by Rep. Gregory Meeks, D-N.Y., would ensure that taxi drivers don't get taxed on medallion debt that gets forgiven. The bill dovetails with a debt forgiveness plan under development in New York, where hundreds of drivers have filed for bankruptcy.

People's United in Connecticut is letting the loans run off its books as it invests in higher-yielding commercial loans.

In another sign of state officials trying to outdo the Consumer Financial Protection Bureau, governors in California and New York want greater authority to license and oversee the debt collection industry.