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New York Venture Bank Seeks National Bank Charter

PYMNTS

New York Venture Bank, a new financial institution (FI) created by big names in the financial services industry, has applied for a national bank charter. The new FI is looking to provide commercial banking products and services to businesses in New York and other markets in the U.S.

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City National Bank, Extend Team On Virtual Corporate Cards

PYMNTS

City National Bank has enlisted New York City FinTech Extend to enable the bank’s clients to offer virtual corporate cards to employees, vendors and other business partners, the companies announced in a press release. With Extend, City National is the first issuer in the U.S. to launch this competitive solution.”.

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New York delays effective date of law requiring credit card rewards points grace period

CFPB Monitor

Earlier this year, New York delayed the effective date of its new law requiring card issuers to provide a grace period for using credit card rewards points that was slated to be effective later this week. The delay means that the effective date of the new law is now December 10, 2023.

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Dime to tap equity markets for growth capital

American Banker

The New York bank's planned $125 million public offering comes less than a week after Valley National raised more than $400 million with a similar transaction.

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New York DFS enters into two dealer finance charge consent orders

CFPB Monitor

For readers who followed the CFPB’s efforts in this area, the allegations in these consent orders will be very familiar. We will be watching for more developments from NYDFS on this issue.

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NY Mag To Open Pop-Up Shop; Amazon Go Plans New York Store

PYMNTS

Magazines have been testing the waters of brick-and-mortar retail by opening temporary stores in major cities, and New York Magazine is no exception. The company is opening a pop-up shop in time for the holidays in the SoHo neighborhood of New York City for the company’s popular product recommendation vertical called The Strategist.

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Patriot National Hits Regulatory Snag In SBA Platform Plans

PYMNTS

Community bank Patriot National has hit a regulatory roadblock in its plans to launch a Small Business Administrative platform, but reports in American Banker on Thursday (March 13) said the financial institution remains undeterred by the challenge. Hana is one of the largest SBA lenders, facilitating $96.6

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