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Deborah Wright, who is set to retire as Carver's CEO at year-end, says the New York bank is preparing new products to reach underserved parts of the city. While she says community development banks should merge, Carver has no immediately plans to roll them up.
December 9 -
The bank unit of Carver Bancorp in New York has been released from a cease-and-desist order by federal regulators.
November 4 -
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.
January 16
The Federal Reserve Bank of Philadelphia has lifted a cease-and-desist order for Carver Bancorp of New York that was issued in February 2011.
Carver Bancorp chief executive and president Michael Pugh said in an Oct. 1 news release that the lifting of the order represented a milestone in the company's efforts to become stronger financially. The move follows the lifting of a similar C&D order for the company's subsidiary, Carver Federal Savings Bank,
"We are pleased to put this chapter in our organization's history behind us, and we are extremely thankful for the ongoing commitment of our stockholders, customers, and community partners," Pugh said in the release.
As of June 30, the company maintained a Tier 1 capital ratio of 10.41% and a total risk-based capital ratio of 16.34% and its nonperforming loan ratios have been improving.
The now-defunct Office of Thrift Supervision
Carver is one of the largest minority-owned banks in the country. In 2011, when it initially fell on hard times, the lender received an influx of $55 million in capital in 2011
