NYC-area banks’ to-do lists: Deposit growth, CRE reduction
Valley National Bank and Dime Community Bancshares expect a better balance of deposit costs to help boost their net interest margins in 2025.
NYDFS penalizes PayPal $2M over 2022 data breach
The settlement detailed the missteps PayPal took in the lead-up to the attack and highlighted common risks — both on compliance and security — banks face.
How Fiserv’s new CEO shakes up succession at two firms
The technology vendor is going outside the company to hire PNC vet Michael Lyons to replace Trump Administration-bound Frank Bisignano, leaving the Pittsburgh-bank without its heir apparent for the top role.
Eagle optimistic on strategy despite credit-quality issues
The Bethesda, Maryland, company projects increases in loans and deposits as its C&I lending strategy gears up. Criticized and past-due loans appear to be declining even with a jump in nonperforming assets.
New York AG settles for $1B with merchant cash advance firm
The case against Yellowstone Capital, which state officials alleged deceived small business borrowers, has brought attention to the industry.
Trump ditched Biden’s executive order on AI. What changes?
Banks’ AI deployments will now be supervised by states and the companies themselves, experts say.
GAO: post-SVB emergency actions ‘likely’ prevented crisis
A Government Accountability Office report Thursday said emergency actions taken by federal regulators in the wake of Silicon Valley Bank’s failure were justified and appear to have stemmed further disruption, but noted those actions could contribute to moral hazard.
Senate Banking Committee approves Trump HUD nominee
Scott Turner, President Trump’s pick to head the U.S. Department of Housing and Urban Development, faced opposition from Democrats on the Senate Banking Committee, but his nomination was nonetheless approved by a vote of 13-11.
Atlantic Union says $1.6 billion deal on track to close ahead of schedule
The Virginia-based bank said the Federal Reserve signed off on its acquisition of Sandy Spring Bancorp in Maryland. The transaction was the third-largest bank deal announced in 2024. It could be finalized as soon as April.
Auto repos by third parties spiked after pandemic: CFPB
The Consumer Financial Protection Bureau found that auto lenders’ use of reposession agents spiked to nearly 70% in 2022, up from 31% in 2018, resulting in higher costs for consumers.