Luxury Brand Barneys New York Seeks Bankruptcy Protection

PYMNTS

Struggling to compete with online brands, famed Big Apple luxury retailer Barneys New York has put itself up for sale and filed for bankruptcy protection, according to a report by Reuters. . Retail bankruptcy Barneys New York luxury brands News What's Hot

New York Times Posts Blockchain Job

PYMNTS

The New York Times newspaper posted a job called “Lead, Blockchain Exploration” on Wednesday (March 13), and later took it down, according to reports. Blockchain job posting New York Times News What's Hot

New York City Mulls Fur Sales Ban

PYMNTS

Following the lead of other municipalities, New York City could be going fur-free with a proposed law on the horizon. In a progressive and modern city like New York, banning the sale of fur clothing and accessories is long overdue,” Johnson said in a statement, according to the outlet. In the case of New York City, under the proposed law, a fine would range from $500 to $1,500 for businesses selling fur.

Amazon Rethinks New York City HQ2 Campus

PYMNTS

After facing resistance from politicians and protestors, Amazon is reportedly rethinking its planned New York City campus. While Virginia officials provided the company with an incentive package, the state of New York is not projected to provide final approval for another year.

Uber Eats Will Now Deliver Recess, A CBD Drink, In New York

PYMNTS

Recess, a CBD-infused sparkling water company, has announced that it will be available on Uber Eats for delivery to customers in New York City, according to a report by Adweek. Delivery CBD delivery New York News Recess Uber Eats What's Hot

Credit Card Surcharges OK’ed In New York

PYMNTS

New York has banned the ban. In the wake of court filings this week that effectively ended a challenge to surcharges on credit card transactions in New York, merchants in the Empire State can indeed embrace those fees, contingent upon stating those costs to consumers up front. The merchant plaintiffs and the state of New York filed motions on Jan.

New York Ramps Up Fight Against Predatory SMB Lending

PYMNTS

Just days after New York Attorney General (AG) Barbara Underwood announced an investigation into possible misconduct among merchant cash-advance (MCA) firms against small business (SMB) borrowers, The Washington Post reported that state legislators are vowing to push for change in the industry.

IBM hosting two day Sales Performance Management Summit in New York City

Insights on Business

IBM is excited to be hosting the 2019 Sales Performance Management Summit, being held in New York City for sales executives and compensation leaders. Featured Carousel Featured Homepage Sales Performance Management events ICM Incentive Compensation Management New York NYC

New York State Of (Cybersecurity) Mind

PYMNTS

As the Sinatra tune goes (a bit paraphrased) … New York: If you can make it there in cybersecurity, you can make it anywhere. The financial services industry is girding for the new regulations by the New York State Department of Financial Services (DFS), which take effect as of Aug. Yes, the rules apply to a single state, but as some sources, including New York Law Journal , report, the regulations could have a global impact.

New York Grand Jury Looking Into Facebook’s Data Sharing Agreements

PYMNTS

Facebook is the subject of a criminal investigation by federal prosecutors over the data deals it inked with some of the biggest technology companies, reported The New York Times. attorney’s office for the Eastern District of New York.

Visa Highlights Contactless Payments At New York Fashion Week

PYMNTS

To help consumers experience new ways to pay, Visa has announced a new relationship with New York Fashion Week: The Shows. We are constantly exploring sponsorship opportunities to help us diversify our brand and reach new audiences, while delivering experiences that drive business priorities,” Mary Ann Reilly, senior vice president for North America marketing at Visa, said in the announcement. “We

Fraudsters ‘Flourishing’ On Zelle, New York Times Reports

Bank Innovation

Bank P2P service Zelle is having some issues with fraud, with some customers reporting that hackers, exploiting weaknesses in the platform, had cleaned out their bank accounts: even if those customers had never used, or head of Zelle, according to a New York Times report this weekend.

New York’s DFS Flexes Its Muscles

New York's State of Mind

Recently the New York Law Journal described the New York State Department of Financial Services as “arguably among the most powerful financial regulatory government bodies in the country-if not the world…” After yesterday, it’s not even arguable. Legal Watch Mortgage Lending New York State Regulatory CFPB Inc. New York State Dep't of Fin. Servs New York State Land Title Ass'n title insurance

New York State Regulations for Online Lenders to ‘Level Playing Field’ for Banks

Bank Innovation

In New York State, perhaps anticipating a […]. Compliance Exclusive Lending Online Premium Alternative Lending Continuity New York StateOnline lenders may own more than half of the personal lending market, but they face serious headwinds. For one thing, rising interest rates will increase their cost of funds, and perhaps make their offerings less attractive, and for another, regulations may arrive that make operating their businesses more expensive.

Taxi loan abuses part of a broader pattern in New York

BankThink

Small business lending Medallion loans State regulators State of New York 649791 NYDFS City of New York, NY 64966M FTC

New York Regulator Fines Pakistani Bank $630M

PYMNTS

The New York State Department of Financial Services (DFS) is looking to fine Habib Bank Ltd (HBL) nearly $630 million for failing to comply with state and federal laws at its only U.S. The New York State Department of Financial Services could not immediately be reached for comment. Habib Bank has submitted an application to DFS to shut its New York operations. That bank still has a New York branch.

OceanFirst to enter New York, near $10B in assets with two acquisitions

BankThink

The New Jersey company will pay $284 million for Two River Bancorp and Country Bank Holding. Community banking M&A Capital New Jersey New York

Will New York's new rental laws suppress multifamily lending?

BankThink

Bankers are downplaying such concerns, but others say a sharp decline in values on rent-regulated buildings means landlords will have less cash flow to acquire new properties. Multifamily Commercial real estate lending New York

Uber Sues City Of New York To Get Driver Cap Lifted

PYMNTS

Uber , the ride-hailing startup, filed a lawsuit against the city of New York last week seeking to overturn a rule that puts a cap on the number of drivers that work for ride-hailing companies that can operate in the city.

New York & Co. Rebrands To RTW Retailwinds

PYMNTS

To highlight its ability to grow into new markets and categories, New York & Co. Along with the name change, New York & Co. Retail Fashion To Figure Greg Scott New York and Company News retail brands RTW Retailwinds What's Hotis changing its name to RTW Retailwinds. The move comes as the retailer seeks to top the $1 billion mark in sales, Chain Store Age reported. “We

New York Makes It Easier To Prove Harassment Claims

New York's State of Mind

If, as appears likely, the Governor approves the legislation, one of the biggest impacts of the recently concluded legislative session on New York employers will be big changes to New York’s anti-harassment laws which will make it easier for employees bringing harassment claims to successfully sue their employers. HR Legal Watch New York State Sexual Harassment legsilation Title VII Zembrowski

Latest New York de novo will court middle-market firms

BankThink

Piermont Bank, set to open this week, will be the city's second new bank this year. Community banking De novo institutions Capital New York

Capital One Adding Innovation Staff in New York

Bank Innovation

but it’s adding significant innovation staff to its New York office. Innovations Mobile Operations Retail Technology Capital One data scientist digital digital management hiring HR New York quantitative data staffingCapital One Financial Corp.

New York de novo debuts after raising $131 million

BankThink

Grasshopper Bancorp will target the innovation economy in New York City and other markets across the country. Community banking Capital Branch network New York

New York launches its own 'mini CFPB'

BankThink

The Department of Financial Services has created a statewide financial protection division focused on corporate compliance and consumer issues, in line with steps taken by New Jersey and Pennsylvania. Enforcement actions Enforcement Compliance CFPB NYDFS New York

WorldRemit Opens International Money Transfers in New York

Bank Innovation

Global money transfer service WorldRemit is launching in New York, providing state users the ability to transfer funds to nearly 150 countries, the company announced yesterday.

New York Just Told the OCC to Stick It

Bank Innovation

The New York State Department of Financial Services submitted a formal comment letter to the OCC today, saying that the latter, frankly, isn’t going to do the job of regulating fintechs — and isn’t Read More.

PDL Community in New York to buy mortgage lender

BankThink

Community banking M&A Mortgages New YorkThe parent of Ponce Bank has agreed to acquire Mortgage World Bankers.

New York State Finalizes Sexual Harassment Requirements

New York's State of Mind

First, in the better-late-than-never category, New York State released the final version of its much anticipated guidance and model policies to implement comprehensive sexual harassment training requirements imposed by the State Legislature last session. HR New York State guidance model policy New York State sexual harassment policyWell, a guy doesn’t blog for a day and all hell breaks loose.

Barneys New York Looks To VR To Carry Spring Collection

PYMNTS

While some see it as a fad or a gimmick, Barneys New York has become the latest to take the tech very, very seriously and turn it into a force for good. The virtual reality short film reportedly marries fashion, tech and contemporary dance, premiering exclusive designer looks to Barneys New York customers straight from the runway via the Oculus Gear VR, Samsung’s VR app and Barneys’ website.

In New York, growing support for a public bank

BankThink

Consumer banking Affordable housing Cash management Law and regulation New YorkUndeterred by setbacks in other cities, a broad coalition of community groups is seizing on popular mistrust of traditional banks to press the case for a city-owned bank.

New York Banks Should Get Into Online Lending

PYMNTS

Online lending may be dominated by startup companies based outside of New York, but the New York State Department of Financial Services (NYDFS) wants New York banks to get into the business as well. “Your competitors are, and will, be embracing FinTech in all of its various forms,” said Maria Vullo, NYDFS superintendent, referring to new types of financial services technology, according to a report by Reuters.

The New York Subway’s Better Digital Ticket To Ride

PYMNTS

New York City commuters – arguably the most on-the-go demographic in the United States – do not want to wait for anything. ” It’s an inefficiency that the New York Metropolitan Transportation Authority (MTA) has not only acknowledged, but committed to doing something about. Last week, they officially tasked long-term Mastercard partner Cubic Transportation Systems to implement a new fare payment system across the city’s entire subway (and bus) system.

New York Flexes its Regulatory Muscle

New York's State of Mind

Hardly a day goes by lately without New York flexing its regulatory muscle. Yesterday, the Department of Financial Services and the Attorney General sued Vision Property Management for alleged violations of federal lending laws, illegally evading state licensing requirements, and engaging in unfair and deceptive practices. The actions of the Attorney General and Superintendent Lacewell […].

Manafort pleads not guilty to New York mortgage fraud charges

BankThink

Former Trump campaign chairman Paul Manafort pleaded not guilty in a New York mortgage fraud case — state charges that are beyond the reach of a presidential pardon. Financial crimes Mortgage fraud State regulators Enforcement actions Sailthru NMN origination no display New York

Chef’d Meal Kits Coming To New York Area Drugstores

PYMNTS

Chef’d , the maker of meal kits that can be purchased in grocery stores, has inked a deal to sell the kits in Walgreens and Duane Reade stores in the New York area. CNBC , citing the company, reported Chef’d meal kits will be sold in 30 Walgreens and Duane Reade stores in New York as part of a deal with Smithfield Foods. Our goal is to give more shoppers more meals in more places to help them eat better, save time and explore new flavors.”.

New York On Verge of Historic Power Shift…Again

New York's State of Mind

Legal Watch New York State Mulvaney New York State Senate UNFCUThis headline might be a tad premature but it appears that the State Senate Democratic Caucus headed by Andrea Stewart-Cousins and the 8 member Independent Democratic Caucus by Senator Jeff Klein have reached a preliminary agreement to unify, potentially paving the way for cutting Republicans out of holding any power in the state legislature. How […].

New York & Co. Shows Off Digital Makeover

PYMNTS

Internet Retailer reported that New York & Co. This new kiosk will provide a virtual endless aisle, offering customers access to all sizes, colors and assortments,” he told analysts during the company’s third quarter 2016 earnings call, according to a transcript from Seeking Alpha. Worthington told analysts that New York & Co. Retail ecommerce Mobile shopping New York & Co

TRENDING: How ‘The New York Times’ Built A Winning Subscription Formula

PYMNTS

The August Subscription Commerce Tracker looks at how companies are stepping up their efforts to win over subscribers by offering new tiers of subscription plans. In the automotive space, carmakers are turning to new subscription tiers to win the attention and business of drivers.

Amazon Go Coming To New York

PYMNTS

Amazon has announced plans to open an Amazon Go location in New York. It recently opened two more locations in the city, which will make New York its first foray outside of Seattle. “We We plan to open Amazon Go in New York,” an Amazon spokesperson said, according to Reuters , though it was not revealed when the company plans to open the location. Earlier this year, the eCommerce giant launched its first checkout-free convenience store market in Seattle.

New York AG Wants More Info From Crypto Traders

PYMNTS

New York Attorney General Eric Schneiderman has announced the launch of the Virtual Markets Integrity Initiative, a fact-finding inquiry into the policies and practices of cryptocurrency trading platforms. With cryptocurrency on the rise, consumers in New York and across the country have a right to transparency and accountability when they invest their money. Regulation AML bitcoin cryptocurrency exchange investments New York News regulation What's Hot

Are New York Foreclosure Laws About To Become Even More Burdensome?

New York's State of Mind

By many measures New York has the most complicated, time consuming foreclosure process in the country with the possible exception of California but believe it or not, bills passed by the New York State Legislature in the closing hours of the legislative session will, if they are approved by the Governor, actually make the process […]. Mortgage Lending New York State AB5615 S.4182 S.5079A

Tech Center: New York City Takes on Tech Full Force

PYMNTS

For years, New York City has been at the epicenter of United States’ culture with the fashion and entertainment industries leading the way. With the top modeling agencies, MTV and the home of American broadway plays, there’s no denying New York City is bustling with creativity. With a big focus on technology in Silicon Valley and Boston, New York City slowly made its way to becoming a powerhouse tech player.