BCB Bancorp will pay $20 million for Indus American Bank, a New Jersey institution that focuses on the South Asian-American business community. Indus American lost a total of $2.5 million in 2015 and 2016.
Lending and managing money for recording artists and labels can be a profitable niche. But volatile income streams, intellectual property challenges and business model upheaval can trip up the inexperienced.
New York Mayor Bill de Blasio and Comptroller Scott Stringer are pushing to prevent the city from hiring Wells Fargo to lead bond sales or handle other banking business until it improves its track record of lending in poor communities.
The OCC recently gave Sterling a 'satisfactory' rating and said the New York bank had addressed some concerns by the Fed that had leaked to the public and raised questions about its pending M&A deal.
Amid all the bad news this year among taxi-medallion lenders, banks are trying to renegotiate loan terms behind the scenes, and regulatory changes could prop up collateral values and the competitiveness of taxis.
Online lenders are evading New York regulations by claiming their loans are “made” by federally chartered or out-of-state partner banks, Department of Financial Services Superintendent Maria Vullo told lawmakers Monday.
The former New Jersey mutual is stepping up efforts to court bigger commercial clients. The move will help Investors diversify its loan book and deploy capital while it is barred from buying banks.
