State of New York

Amendments to New York's cyber rules — and a focus on privacy in California — mean banks must enhance risk controls, encryption and customer protections.

After doing "some really intensive thinking," the Buffalo-area lender said it found the partner it was looking for in the Norwich, New York-based NBT Bancorp.

The new rules also expand the use of "proven protections," such as multifactor authentication, according to Adrienne Harris, superintendent of the New York State Department of Financial Services.

The New York State Department of Financial Services found that the community bank's policies led to minority borrowers paying more for auto loans. Though it did not find evidence of intentional discrimination, the bank agreed to pay a $950,000 fine and restitution.

Consumer advocates have long wanted to restrict banks' ability to collect overdraft fees. The Empire State's new law represents a small but consequential breakthrough as they push for nationwide reform.

The agreement will allow the state-backed investment fund to meet surging financing demand for renewable energy projects. It is the largest-ever private fundraising deal by a green bank in the U.S.

The state's department of financial services is asking firms that it supervises to report information about the composition of their boards and senior leadership. It expects to publish aggregate findings in early 2022.

The company is under law enforcement scrutiny for loans that helped propel a boom and bust in the taxi medallion market in New York City.

State and federal authorities say the network of firms in upstate New York sought debts that consumers weren't obligated to pay and impersonated government officials, among other things.

In a state where laws are unusually favorable to high-cost business lenders, taxi drivers are not the only small-business people getting trapped in loans they can't afford to pay back. The question is, what are policymakers going to do about it?