Americas

The New York multifamily lender is making steady progress in a multiyear effort to reduce its dependency on commercial real estate.

The company sold common stock to employees, existing shareholders and new investors.

EVP Ron Neumann has been named as her successor of the $1.6 billion credit union.

Regions also saw significant increases in its point-of-sale consumer lending, even though overall loans were slightly down from 2016.

The new tax law helped boost fourth-quarter results at SunTrust Banks in Atlanta, while the recent rate hikes led to gains in spread income.

Attorney General Jeff Sessions did not keep the rest of Washington apprised of his plan to rescind an Obama-era memo on pot. Now Fincen and other federal banking agencies are dealing with the backlash from that decision.

Organizers of Sterling Bank have filed an application with the FDIC and have set a $20 million capital target.

The company will pay $62 million in cash for a bank with four branches and $337 million in assets.

The Arkansas company has spent two years trying to reassure nervous investors and analysts that it can rapidly book real estate loans using conservative practices.

While Starbucks is making a tentative move into cash refusal at one location, it's unlikely any retailer would widely refuse cash payments in the near term.