new york

KeyCorp’s deal for student lender raises eyebrows


Executives at Key pushed back against doubts over a deal for Laurel Road Bank’s digital lending platform so late in the credit cycle, arguing that its customers are prime borrowers with high incomes.


Sterling Jewelers fined by CFPB for unauthorized credit card accounts


The company owning brands such as Kay Jewelers and Jared the Galleria of Jewelry will pay $11 million under a settlement with the consumer bureau and New York's attorney general.


Stock market volatility takes bite out of BNY Mellon profit


The company's fourth-quarter results were also stymied by costs tied to severance and litigation, along with investments in technology.


Alternative lenders try to fill void left by shutdown


The tricky part: raising awareness without appearing to take advantage of borrowers at a time when agencies like the SBA are out of commission.


Merchants accept Supreme Court stipulation on New York surcharging


The number of states not allowing surcharging on credit card purchases continues to dwindle, as New York now gives merchants the option to charge fees as long as they make the costs clear to consumers.


Sterling in N.Y. is making tweaks to its balance sheet


Selling $1.6 billion in mortgages, and paying off a similar amount of wholesale borrowings, will allow the company to expand its net interest margin in 2019.


New York lawmakers say state must stop enabling predatory loans


New York legislators are pledging to change laws that have allowed predatory lenders to use the state court system to seize the assets of thousands of small businesses across the country.


New York state is said to probe abuses in small-business lending


Attorney General Barbara Underwood’s office is looking into whether merchant cash-advance companies engaged in fraud or abused the state court system.


Lenders reliant on CRE face tough road


Challenges will likely increase as interest rates rise and investors grow more concerned about a downward turn in the economic cycle.


Regulators lift CRE concentration cap at New York Community


The move allows the New York multifamily lender to make more loans without having to raise capital.