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New York Community Bank shares plummet after $2.4bn earnings hit

TheGuardian

Chief executive of embattled bank steps down after company reports ‘material weaknesses’ in internal controls New York Community Bancorp (NYCB) came under fresh pressure on Wall Street after reporting “material weaknesses” in its internal controls, booking a $2.4bn hit to earnings and replacing its chief executive.

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New York Department of Financial Services settles enforcement action with community bank over auto dealer fair lending allegations

CFPB Monitor

Following up on a threat it made back in 2018 , the New York State Department of Financial Services (DFS) announced on October 6, 2022 that it entered into a consent order with Rhinebeck Bank (“Rhinebeck”) to settle discrimination claims involving discretionary dealer markups on retail installment contracts with minority borrowers.

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Community Bank CEO Outlook 2022: Your priorities for the new year

Independent Banker

Independent Banker ’s annual Community Bank CEO Outlook survey reveals how community bank leaders plan to leverage today’s deposit-laden banking environment to grow this year. Janet Silveria, Community Bank of Santa Maria. So, what’s at the top of community bank leaders’ to-do lists?

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Dime in New York launches national deposits group

American Banker

The new team at Dime Community Bancshares intends to attract funding from an array of niche business segments, including medical billing, so-called death care services and hedge funds.

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New York regulator offers incentives for climate-friendly loans

American Banker

The department of financial services will grant credit under the state's community reinvestment law to New York-chartered banks and credit unions that finance projects aimed at helping low-income communities better adapt to a warming world.

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When a Community Bank Expands Beyond Its Community

ABA Community Banking

Have you heard about the community bank that’s been chugging along for over 150 years, took on “Community Bank” as its name—and “bank happy” as its motto? Meet Community Bank, N.A., based in DeWitt, New York.

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New York bank settles wage dispute with a $5.8 million payout

American Banker

Community Bank System in Syracuse faced claims it failed to properly pay some branch-level employees, making it one of a growing number of banks forced to confront compensation-related disputes in recent months.