New York

The New York Credit Union Association (NYCUA) announced that it has signed a letter of intent to sell its card services subsidiary Covera Solutions Inc., to CO-OP Financial Services.

NEW YORK — The National Federation of Community Development Credit Unions (Federation) released a report that delves into the financial struggles faced by very poor individuals, those with annual household incomes below $20,000.

Wells Fargo has agreed to pay $4 million to settle charges that it made secured credit card loans in violation of New York law.

Flushing Financial in Lake Success, N.Y., has expanded its business banking operations to Manhattan.

Hudson Valley Holding in Yonkers, N.Y., swung to a profit as it prepares to sell itself to Sterling Bancorp in Montebello, N.Y.

SALT LAKE CITY — The "Credit Union Difference" is on display in Times Square thanks to Children's Miracle Network Hospitals, which is running an enormous electronic billboard there to thank Credit Unions for Kids and COO-OP Financial Services for all they do to benefit kids.

New York Community Bancorp wants Washington to raise the asset size for systemically important financial institutions, but in the meanwhile its asset sales to stay under the threshold helped to boost profits and its CEO is pursuing possible M&A deals.

Predictions for a massive winter storm in the Northeast have prompted banks in the region to close branches and delay earnings calls.

Signature Bank in New York reported higher fourth-quarter profits on growth in commercial loans.

Cathay General Bancorp in Los Angeles has agreed to buy Asia Bancshares in New York.

Regional banks M&T and Regions Financial continue to see healthy loan growth, but low interest rates (combined with their own special problems) are preventing them from translating it into higher profits.

M&T Bank in Buffalo, N.Y., reported a higher quarterly profit as lower expenses offset tighter margins.

CMS Bancorp in White Plains, N.Y., is working through a material weakness unearthed by a recent audit.

Ten financial institutions, including four banks, will accept the new IDNYC card as a primary form of identification for new accounts. Community advocates hope the move will help more immigrants and unbanked individuals use banking products.

American Capital Partners has recruited two Raymond James analysts to launch a research unit focused on small and mid-cap banks in the New York area.

Former Rep. Bill Owens has been named a director of Arrow Financial in Glen Falls, N.Y.

Numerous banks are expected to say they trimmed expenses yet again when they report fourth-quarter results in the coming weeks. But that trend may ebb soon as many executives are forced to spend on technology and to expand their businesses.

Nationwide the number of bank branches fell by about 1.7% last year. But some cities and states were hit harder than others, according to data from the Federal Deposit Insurance Corp. and research firm BankRegData.

Government investigations of auto lending are beginning to pile up, and they are weighing on investors' perceptions of the fast-growing industry.

A San Diego-based debt collector has agreed to pay $675,000 in civil penalties and give up $18 million won in court fights against 4,500 consumers, New York Attorney General Eric Schneiderman said Friday.