new york

Nonbanks face new disclosure rules on small-business loans in N.Y.


Similar to a law passed two years ago in California, legislation headed to the New York governor’s desk would require fintech and other nonbank lenders to uniformly disclose total cost of capital, APR and other metrics to potential borrowers.


Carnegie Hall got rescue aid, but not your favorite food cart


Paycheck Protection Program loans were out of reach for the myriad of cash-based enterprises or underfunded businesses that are key to economic growth in the country. This could change the very fabric of New York City, with businesses that were part of people's everyday life disappearing.


Dime-Bridge a conventional deal in unconventional times


The New York-area companies' $489 million agreement runs counter to recent merger pacts built around branch cuts and more tech spending.


Dime, Bridge Bancorp combining in $489 million merger


The deal will create an $11 billion-asset banking company with operations in a number of markets around New York City.


New York state expands feedback program for fintech startups


The Department of Financial Services is going live with DFS FastForward, which aims to help innovators in finance, healthcare and insurance consult directly with regulators on specific compliance issues.


States try to help borrowers left out of federal forbearance plans


One criticism of the CARES Act is that it provides relief only to borrowers with government-backed loans. Bills in New York and California would cover the remaining 30% of homeowners.


Dime Community taps insider as its new president


Stu Lubow, who succeeded Kenneth Mahon, gained more responsibilities. Mahon remains Dime's CEO.


New York banking regulator orders emergency relief on mortgages, card fees


The regulation issued late on Tuesday directs state-regulated financial institutions to give mortgage borrowers at least 90 days of forbearance if they can show financial hardship resulting from the coronavirus pandemic. It also requires banks and credit unions to provide relief on ATM fees and credit card late payment fees.


Provident in N.J. to surpass $10B in assets with SB One acquisition


The company will enter an affluent New Jersey county and a key New York market with the $209 million deal.


State privacy bills try to cut banks a break, but not completely


Recent proposals considered or passed by legislatures around the country grant banks certain exemptions, but they differ from state to state and may pose new compliance headaches.