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Valley National Bank, heavy on CRE, is confident despite investor worry

American Banker

Investors have hammered the New Jersey-based lender following the turmoil at New York Community Bancorp. But Valley executives say there are key differences between the two real estate-focused banks, and they express confidence that the bank's underwriting will hold up again this cycle.

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DOJ announces settlement of redlining lawsuit

CFPB Monitor

The Justice Department announced that it has entered into an agreement with Lakeland Bank to settle the DOJ’s claims that Lakeland engaged in unlawful redlining in the Newark, New Jersey metropolitan area. According to the DOJ , the settlement represents the third-largest redlining settlement in the DOJ’s history.

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First Bankcard, Provident Bank Team For Commercial Payments

PYMNTS

First Bankcard , a division of First National Bank of Omaha , has formed a strategic partnership with Provident Bank , First Bankcard announced Wednesday (Jan. Provident Bank, a New Jersey-based financial institution (FI), will issue a comprehensive suite of commercial payment solutions in conjunction with First Bankcard.

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Jobless Claims Rise To 1.4M After 15 Straight Weeks Of Declines

PYMNTS

Just as it has been heartbreaking to see the nation still struggling with the devastating and all too often deadly health aspects of the COVID-19 pandemic, the persistence of elevated new unemployment claims shows the toll the virus continues to take on the economy,” he said in a statement.

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Bitcoin Daily: NJ Assembles Blockchain Initiative Task Force; IBM Eyes Blockchain Browser

PYMNTS

New Jersey ’s governor has signed a bill to implement a Blockchain Initiative Task Force. FATF would manage the project, while the 15 nations, including the G7 members, Australia and Singapore, would develop the system, according to Nikkei Asian Review.

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Macy’s Continues Testing Of Lockers

PYMNTS

The retailer is continuing to test the lockers through an installation at a New Jersey store per a tweet from a Fortune writer, industry news source Chain Store Age reported. Shoppers can find the lockers adjacent to the retailer’s “At Your Service” counter at the New Jersey location.

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Today In B2B: Small PPP Loans Cause Controversy; Bank Profits Sink

PYMNTS

Judith Less, who runs a thrift shop in New Jersey, got $27,” the paper reported. With the new COVID-19 stimulus package signing, many small business owners can apply for another round of Paycheck Protection Program loans,” said Senior Vice President National Sales Manager John Cox Miller in the release. “In

Arkansas 152