New York

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.

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.

The San Francisco bank is also bulking up in Florida and Wyoming, no-tax states where many of its affluent clients have retired or have second homes.

The Pennsylvania company will pay $80 million for the parent of USNY Bank.

So far this year, Lloyds and Clydesdale and Yorkshire Banks have had payment failures in the U.K. And in the U.S., a software glitch at parking technology vendor Parkeon halted digital payments at meters in New York and other cities.

Facebook’s Libra cryptocurrency project has drawn vast political pushback, but also more tangible government action as nations globally consider central bank supported digital currencies. It’s also sparking a potential bottom-up approach in New York.

Laurie Baker, a 25-year veteran of the credit union, will take the helm next month after longtime CEO Mike Vadala retires

Both institutions will see an expanded field of membership as a result of the charter change.

Ticonderoga Federal Credit Union will become TrailNorth Federal Credit Union starting on Jan. 1.

The New Jersey company will pay $63 million for the parent of Victory State Bank.

Industrial Bank CEO Doyle Mitchell has spent countless hours in New York since his bank bought the failed City National in November, meeting with existing customers and plotting his growth plans.

The upstate New York company will gain branches in Rochester as part of its $35 million purchase of FSB Bancorp.

The Pennsylvania company will pay $65 million for six branches that will join its Buffalo, N.Y., division.

New York is the latest state to change its statutes regarding public deposits and credit unions as more institutions seek out strategies to boost liquidity.

Going contactless has been a bigger challenge in New York because of the size and complexity of its transit systems.

Those yard-long paper receipts that spew from cash registers may be following plastic bags and foie gras into the dustbin of New York City history.

The Albany-based credit union has picked up tiny City of Schenectady Employees FCU, which has struggled with profitability issues for years.