A cash infusion for NYCB; State of the Union vs. junk fees
American Banker
In-depth analysis, perspective and commentary on key issues affecting the banking industry.
New York Community lands $1B capital infusion led by Mnuchin, Otting: The troubled bank saw its stock rebound on Wednesday after former Trump administration officials Steven Mnuchin and Joseph Otting announced a major investment. Otting is expected to serve as CEO, and Mnuchin will have a board seat.
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Biden will highlight fight against 'junk fees' in State of the Union: President Joe Biden is expected to lean in on banking issues such as credit card late fees and overdraft fees Thursday evening in his annual address to Congress. However, he likely will avoid the topic of financial-sector stability, even amid a private-sector rescue of New York Community Bancorp.
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Powell: 'Broad and material changes' coming to Basel III proposal: In congressional testimony, the Federal Reserve Board chair said the Board of Governors is processing the comments on its capital reform proposal. Putting forth an entirely new proposal is "very plausible."
How PNC's Deborah Guild works to protect the bank and its customers: The Climb. As the head of enterprise technology and security at PNC , Most Powerful Women in Banking honoree Deborah Guild tries to stay ahead of fraudsters and other bad actors.
Pro football veteran helps small bank tackle new sports niche: Orlando-based Cogent Bank 's Brandon Ghee , a former National Football League (NFL) player, has launched a business line focused on providing banking services to professional athletes and the growing number of college standouts earning six- and seven-figure incomes.
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Quantitative Chemical Fluids Engineer
1 年NYCB was the soundest bank during the 2007-09 crisis. The problem was that during the pandemic rent moratoria should have been accompanied by prop tax moratoria and bank support. NYCB lends primarily to middle tier multifamily real estate and was exposed but was still very frugal.