Artificial Intelligence Startups Make a Splash in New York

Bank Innovation

Artificial intelligence is set to challenge traditional technologies in financial services, if the startups that demoed at BBVA Open Talent in New York today are any indication. Today’s event is one of three regional finals, from which a few Read More.

Regulators lift CRE concentration cap at New York Community

BankThink

The move allows the New York multifamily lender to make more loans without having to raise capital. CRE Commercial real estate lending Regulatory guidance Enforcement Regional banks FDIC Federal Reserve New York

Regulatory Environment Looking Brighter for New York Community

American Banker

The regulatory environment could be looking brighter for New York Community Bancorp as it is poised to cross an important regulatory threshold. dealmaking-strategy law-regulation breaking_news earnings-national-regional-banks performance consolidation m-a ny national-regional

New York Community, Astoria Terminate $2B Merger

American Banker

New York Community Bancorp in Westbury and Astoria Financial in Lake Success, N.Y., breaking_news national-regional dealmaking-strategyhave terminated their merger.

Astoria deal to turn Sterling into regional power in New York

BankThink

The New York bank will double in size while gaining greater access to Long Island and low-cost deposits that should come in handy as interest rates rise. M&A Integrations Capital Deposits Commercial lending New York

Delay for New York Community-Astoria Deal

American Banker

New York Community's acquisition of Astoria Financial will not get the necessary regulatory OK this year, but both parties “remain committed to the transaction,” the CRE-heavy acquirer said. breaking_news national-regional community-banking m-a consolidation dealmaking-strategy

New York Community reins in costs while staying below SIFI threshold

BankThink

Earnings Revenue and expenses Lending Regional banks New YorkThe company, which reported a slight decline in loans, lowered its expenses during the first quarter.

New York MTA Puts Wells Fargo Business on Hold

American Banker

New York MTA has put business with Wells Fargo Securities and approval as a senior manager for bond transactions on hold pending its review of the bank’s practices, following revelations that Wells Fargo bank employees secretly created accounts without clients’ approval.

How Tough Will New York's Bank Regulator Be?

American Banker

Maria Vullo, still stuck in limbo as acting superintendent of the New York State Department of Financial Services, is hindered from putting her mark on the agency until she gets confirmed. community-banking law-regulation enforcement cyber-security ny national-regional

MUFG Launches Aviation Finance Business in New York

American Banker

The Japanese banking giant Mitsubishi UFJ Financial Group has launched a new aviation finance business in the Americas and has named aircraft finance veteran Olivier Trauchessec managing director of the unit. breaking_news people commercial-lending national-regional

Citizens to buy wealth management firm in New York

BankThink

Wealth management High net worth M&A Regional banks Rhode IslandClarfeld Financial Advisors will become a division of Citizens Bank Wealth Management.

New York Community Scores Naming-Rights Deal at Nassau Coliseum

American Banker

New York Community Bank in Westbury will have its name attached to the Nassau Veterans Memorial Coliseum, former home of the New York Islanders hockey team, when the renovated arena reopens next spring. breaking_news dealmaking-strategy national-regional

Debt Move Pays Off for New York Community

American Banker

New York Community Bancorp in Westbury, N.Y., dealmaking-strategy breaking_news performance earnings-national-regional-banks ny m-a consolidation national-regionalreported higher third-quarter earnings after a debt repositioning last year helped its net interest income.

Piper Jaffray to buy Sandler O'Neill for nearly $500 million

BankThink

M&A Community banking Regional banks Growth strategies Fixed income Minnesota New YorkThe merger will create an firm with heft in financial services M&A, fixed income and equity research.

New York Community joins bank exodus from home mortgages

BankThink

Seeking to stay below $50 billion, the regional is selling its origination and servicing businesses. Originations Servicing Regional banks

Amazon Makes Bid For All Of The 22 Regional Sports Networks Disney Is Unloading

PYMNTS

Amazon.com, the eCommerce giant, is reportedly making a bid for all of the 22 regional sports networks that Disney purchased as part of its Twenty-First Century Fox deal. YES, the New York network could be sold separately from the other networks, reported CNBC.

SizeUp, Token, and Pendo Systems Win at Innotribe 2015 New York

Fintech Labs Insights

Three Finovate alums, SizeUp , Token , and Pendo Systems won in their respective categories at the Innotribe 2015 New York showcase today in Manhattan. The three will join fellow New York showcase winners, Payfirma and Hyperledger, and 15 other finalists from showcases in London, Singapore, and Capetown, at the final competition at the Sibos conference in Singapore in October.

Fizzle Of The Week: The NYC Amazon HQ That Will Never Be

PYMNTS

Amazon and the city of New York managed to pull off one of history’s more spectacular break-ups this week, with the Valentine’s Day announcement that the city and the nation’s largest eCommerce firm would not be joining forces to build half of Amazon’s HQ2 in Long Island City.

What’s Next For Real Estate In Amazon’s HQ2 Cities?

PYMNTS

13) on its new headquarters. and in Long Island City, a neighborhood in Queens, New York City. In New York City, Amazon’s $1.2 Build it and they will come — in this case, times two.

New York Community profits fall 18% as taxi lending woes persist

BankThink

Earnings Medallion loans Regional banksProvision costs surged to $44.5 million from $1.2 million. The company attributed that increase to higher chargeoffs in its taxi book.

Morning Scan: To Catch a Money Launderer; Promontory vs. New York Regulators

BankThink

Bad Day for Promontory: Get ready for a battle of the titans: New York's banking regulator versus financial consulting heavyweight Promontory Financial Group. New York's Department of Financial Services on Monday suspended Promontory from consulting with banks licensed in the state, accusing the firm of covering up the extent of Standard Chartered's sanctions violations in a 2011 report. national-regionalReceiving Wide Coverage.

BB&T makes first fintech foray in bid to boost digital banking

BankThink

Bennett Bradley, BB&T's chief digital officer, discusses how an investment in Enigma, which helps companies leverage data, fits within the regional bank's fintech strategy. Fintech Regional banks Regtech Growth strategies M&A North Carolina New York

Amazon Reportedly Ready To Buy YES Sports Network

PYMNTS

A group of investors led by the eCommerce operator is reportedly “ready to sign a deal to buy YES Network — one of New York’s most prominent cable sports channels.”. Amazon fox New York Yankees News sports broadcasting Streaming TV network What's Hot YES

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Bright Spots: VC-Backed Deals And Funding Up In New York, Texas, And Canada

CB Insights

However, there were a few regional exceptions where both deal … Continued. Following a sharp drop-off in global venture capital activity at the close of 2015, the pullback deepened in Q1’16, as investors dialed back both deals and funding for a second-straight quarter. Funding & Dealflow Venture Capital

Bright Spots: VC-Backed Deals And Funding Up In New York, Texas, And Canada

CB Insights

However, there were a few regional exceptions where both deal … Continued. Following a sharp drop-off in global venture capital activity at the close of 2015, the pullback deepened in Q1’16, as investors dialed back both deals and funding for a second-straight quarter. Funding & Dealflow Venture Capital

Morning Scan: New York Fed's Ties to Banks Examined; Insurance Deal

BankThink

The paper takes a somewhat lengthy look at the New York Fed as the institution struggles with the fallout from secretly recorded internal conversations that show it might be too cozy with the banks it regulates. 18 event at the New York Fed''s headquarters, which was held to celebrate the Fed''s 100th anniversary, and which came a few days before Fed officials were excoriated in. national-regional Financial Times.

Morning Scan: New York AG Urges Banks to Limit Tellers' Data Access; GE Preps Sale

BankThink

New York Attorney General Eric Schneiderman sent that advice to banks in a letter on Friday; the AG's office has been investigating tellers for stealing customer data and money, an unnamed source said. national-regionalWall Street Journal. Time to crack down on the tellers. Banks were advised to limit tellers' access to customer data and also do more to detect signs of misbehavior.

Consumer lenders could feel most pain from CECL

BankThink

Credit card issuers would have to set aside more in reserves because of higher loss histories, according to research by Keefe, Bruyette & Woods on the impact of the new loan-loss standard. CECL Regional banks Commercial lending New York

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Sterling reports 4Q loss on long list of merger expenses

BankThink

The New York company recorded more than $130 million of expenses tied to its October purchase of Astoria Financial. Earnings Regional banks M&A Consolidations New York

KeyCorp Picks Buffalo as Regional Headquarters

American Banker

KeyCorp in Cleveland will open a regional headquarters in western New York as part of its acquisition of First Niagara Financial Group. dealmaking-strategy strategic-alternatives breaking_news national-regional

M&T Bank buys large MSR portfolio

BankThink

Regional banks M&A MSR Sailthru NMN servicing no display New YorkThe company disclosed that it paid $146 million for servicing rights associated with to $13 billion in mortgages.

Sterling in N.Y. to buy equipment finance business from Macquarie

BankThink

Regional banks M&A Capital Equipment lease ABS Commercial lending New YorkSterling would gain $458 million in loans and an origination platform by acquiring Advantage Funding Management.

Morning Scan: Restricting Credit Union Membership; New York Fed's Top Bank Regulator to Depart

BankThink

In response to complaints credit unions have expanded beyond their original mission to serve specific population groups, the top regulator of federal credit unions approved new rules limiting CU membership qualifications. Credit unions will no longer be allowed to set up charities and other associations, under their so-called Field of Membership rules, for the sole purpose of attracting new members. national-regionalWall Street Journal. Now, not everyone can join.

2018 Most Powerful Women in Banking cocktails

BankThink

The 2018 Most Powerful Women in Banking festivities kicked off Wednesday night with cocktails and conversation at the Alley Cat Amateur Theater in New York's Financial District. Women in Banking National banks Regional banks Community banks PNC Citigroup New York Life Fifth Third BNY Mellon

Morning Scan: Banks Don't Want Big Corporate Deposits; New York DFS's Secret Weapon

BankThink

national-regional Wall Street Journal. It''s not often you hear about banks turning away deposits, but the paper reports that a number of banks are suggesting corporate clients take their money elsewhere in light of impending liquidity rules that make holding their cash less profitable. JPMorgan Chase, Bank of America, Citigroup, HSBC and Deutsche Bank are among the lenders that have held this unusual conversation over the past few months, according to the paper. The change upends one.

Will new Amazon HQs be a boon for local banks?

BankThink

Tepid loan and deposit growth has been a persistent theme in 2018, but that could soon change for community and regional banks in the New York and Washington markets. CRE Commercial real estate lending Commercial lending Mortgages Multifamily Community banking Citigroup Amazon New York Virginia Washington DC

Red Flags Raised Over Potential NY Fed Appointment

PYMNTS

Williams, the president of the Federal Reserve Bank of San Francisco, is reportedly being tapped to replace the retiring president of the New York Fed, but at least one watchdog has problem with that. It doesn’t help that the New York Fed branch is massive, accounting for around $2.5 Personnel federal reserve financial regulation New York News personnel San Francisco wells fargo What's HotJohn C.

And Then There Were 20 — The Amazon HQ2 Finalists

PYMNTS

Austin, Boston, New York and D.C. Amazon first solicited proposals for its new HQ2 in September 2017. Newark, New Jersey. New York City, New York. Through this process, we learned about many new communities across North America that we will consider as locations for future infrastructure investment and job creation.”. Amazon boston Finalists Houston HQ2 New York News Retail second headquarters What's Hot

LA vs. NY vs. Boston: Deals And Dollars Showdown

CB Insights

While Silicon Valley remains the top area for VC-backed startup funding, activity has long since defused to New York and beyond, with LA and Boston seeing a large number of deals and dollars flowing to startups in the region. Financing & Exits Geographies Los Angeles Massachusetts New York Venture Capital

Tax benefit overshadows higher funding costs at N.Y. Community

BankThink

Earnings Tax breaks Regional banks New YorkThe company, which has been actively curbing growth to avoid becoming a systemically important financial institution, reported lower loan balances and reduced fee income after exiting the residential wholesale mortgage business.

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Berkshire Hills in Mass. to Open Regional Headquarters in Albany

American Banker

plans to accelerate its growth in upstate New York by opening regional headquarters in Albany. Berkshire Hills Bancorp in Pittsfield, Mass., breaking_news dealmaking-strategy retail-branch-strategies ny ma community-banking

Sterling in N.Y. bucks trend with expanded muni reach

BankThink

Regional banks Munis Public finance New York New JerseyThe company has created a municipal group that will focus on nonpublic financing services at a time when loans to bond issuers are declining.

Hancock in Miss. to buy Capital One's trust and asset management business

BankThink

M&A Regional banks Trusts Asset management Louisiana Texas New YorkThe purchase will significantly increase Hancock's assets under management and administration.