Daily business news in the Great State of New York!
NEW YORK — Chimney, a provider of interactive financial tools for banks and credit unions, now features over 30 banks across the country on the client roster. Using Chimney’s interactive financial tools, these banks offer personalized digital experiences that generate deposits, and drive new customer acquisition and expanded wallet share. Among the newest banks to […]
HAUPPAUGE, NY — Dime Community Bancshares, Inc., the parent company of Dime Community Bank announced the launch of Zelle for Business for the bank’s customers. Commenting on the launch of Zelle for Business, Michael Fegan, Chief Technology and Operations Officer at Dime said “We are very excited to launch Zelle for business today. It reinforces Dime’s […]
HICKSVILLE, NY — New York Community Bancorp has completed $1.05 billion of investments in the Company by Liberty Strategic Capital (“Liberty”), funds managed by Hudson Bay Capital Management, funds managed by Reverence Capital Partners, and other investors. Executive Chairman, President and Chief Executive Officer, Sandro DiNello stated, “The completion of this major equity raise demonstrates […]
WASHINGTON—The Office of the Comptroller of the Currency (OCC) announced a $250 million civil money penalty against JPMorgan Chase Bank, N.A. (JPMC) related to deficiencies in its trade surveillance program. The Federal Reserve Board also issued an enforcement action against JPMorgan Chase & Co. and fined the firm approximately $98.2 million for an inadequate program […]
Berkshire Hills Bancorp — a Boston-based financial company — announced that its subsidiary Berkshire Bank has entered into agreements with three buyers to sell 10 of its upstate and eastern New York branches, consisting of eight offices in Albany, Saratoga, Schenectady and Columbia counties, one office in Whitehall and one office in East Syracuse. The […]
Citigroup is cutting at least 286 jobs in New York City at its global headquarters according to WARN notices filed with the NYS Department of Labor. Reports in January said the company was planning to cut 20,000 jobs over the next two years. Citigroup employed 239,000 full-time workers at the end of December 31, 2023. […]
HICKSVILLE — New York Community Bancorp, Inc. and its subsidiary, Flagstar Bank, N.A., announced it has completed the operational conversion of its systems and national rebranding to Flagstar—further integrating the Company as one bank and one team. Clients are now unified under a single platform, which includes access to enhanced online and mobile banking tools, […]
BUFFALO — The M&T Charitable Foundation, the philanthropic arm of M&T Bank, has awarded $8.2 million in donations to 68 nonprofit organizations across New England and Long Island and Rockland County New York. The announcement is the second round of giving as part of the company’s Amplify Fund grant, a commitment by M&T Bank to […]
NEW YORK — JPMorgan Chase, the nation’s largest bank, announced new and increased responsibilities for a number of key executives. Jennifer Piepszak, Co-Chief Executive Officer of Consumer and Community Banking (CCB), and Troy Rohrbaugh, Co-head of Markets and Securities Services, will become Co-CEOs of the expanded Commercial & Investment Bank, which will bring together our major wholesale businesses […]
NEW YORK — Financial services firm Morgan Stanley has announced the appointment of 155 Managing Directors for 2024. This number is down from 184 promoted to Managing Director last year. Morgan Stanley provides a wide range of investment banking, securities, wealth management and investment management services. The new Managing Directors at the company for 2024 […]
TARRYTOWN, NY — KeyBank is making 20 charitable donations through its KeyBank Foundation, the bank’s charitable foundation to nonprofit organizations throughout the Hudson Valley and Metro New York area. The gifts focus support to address homelessness, financial literacy, education, workforce development, minority small business development, and more. The charitable donations total $385,000 and are part of KeyBank’s community […]
NEW YORK — Morgan Stanley Investment Management (“MSIM”) announced it has closed on approximately $1.2 billion of total equity capital commitments for North Haven Expansion Equity IX and North Haven Expansion Credit II to fund later-stage growth equity and credit investments in the technology, healthcare, consumer, digital media and other high-growth sectors. The funds, managed […]
NEW YORK — J.P. Morgan Private Bank has launched the Fund Banking Group, a division of the U.S. Private Bank’s business focused on the banking, lending and investing needs of private equity and venture capital funds and their principals. This new division combines the experience of First Republic’s historical fund business with the Private Bank’s […]
NEW YORK – Following the first-ever public hearing held by the New York City Banking Commission this week, all three members voted to limit deposits at Capital One and KeyBank after the banks failed to submit required plans demonstrating their efforts to root out discrimination. New York City Comptroller Brad Lander, one of three members […]
The Federal Deposit Insurance Corporation (FDIC) Board of Directors wants to implement a special assessment on the nation’s largest banks to recover the cost associated with protecting uninsured depositors following the closures of Silicon Valley Bank and Signature Bank earlier this year. The Federal Deposit Insurance Act (FDI Act) requires the FDIC to take this action in […]