Items Tagged with 'New York'

ARTICLES

  • New York launches its own CFPB

    NYDFS creates new division for consumer protection and enforcement
    Following through on a pledge made more than a year ago, the New York Department of Financial Services is launching its own version of the Consumer Financial Protection Bureau, seeking to fill the consumer protection gaps that are beginning to appear as the Trump administration puts more of its stamp on the CFPB.
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  • Ouch! New tax code hit Wall Street where it hurts: Hamptons home prices

    Sales tumbled 18% in Wall Street’s summer playground
    Home sales and prices tumbled in 2019’s first quarter in the Hamptons, the summer playground for Wall Street bankers and Hollywood glitterati. Wall Street bonuses are down and the new federal tax code is making it more expensive to own luxury properties in states that have high property taxes.
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  • [Pulse] Did Amazon's about-face on its NY HQ2 plans turn the Long Island City real estate market upside down?

    Real estate in the Queens neighborhood was hot even before the tech giant set its sights on the area
    Well before Amazon announced its plans to pursue a second headquarters in Long Island City, the Queens neighborhood was among the fast-growing real estate markets of NYC. Major players in the real estate industry set their foot on the once-crumbling industrial neighborhood and secured millions of dollars to finance massive commercial and industrial projects. Yet, Amazon’s snafu announced last week still stunned the LIC real estate market.
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  • Amazon pulls plug on New York HQ2

    Opts not to proceed without support from local officials
    The rumors are true – Amazon has officially canceled plans to build a headquarters in Long Island City, New York, after facing significant opposition from local politicians who protested tax breaks for one of the world's more powerful companies. Amazon announced Thursday that is has opted to withdraw its plans for a Queens headquarters, saying it will not launch a search for a new location.
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  • Third Vanguard Funding exec admits guilt in $8.9 million embezzlement scheme

    Former President of Sales Edward Bohm will likely join the CFO and COO in jail
    The saga of the New York-based Vanguard Funding's embezzlement scheme isn't over just yet. On Tuesday, former President of Sales Edward Bohm became the third exec to admit his role in the crime, pleading guilty to conspiring to commit wire fraud and bank fraud in connection with a scheme to embezzle $8.9 million in warehouse loans that were supposed to fund mortgage loans.
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  • New York using $9 million from RBS settlement to fight zombie homes

    “Zombie 2.0” initiative will give cities more money to fight blight
    Continuing a fight that stretches all the way back to 2014, the state of New York is set to give its cities millions more in funding to address the glut of “zombie homes” that still blight many communities throughout the state. According to the office of New York Attorney General Letitia James, the money for these latest grants comes from the state’s $500 million settlement with RBS for the bank’s "deceptive mortgage bond practices."
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  • Senior execs at Vanguard Funding sent to jail for embezzling $8.9 million

    CFO and COO previously admitted to using warehouse loans for personal expenses
    The former chief operating officer and chief financial officer of New York-based lender Vanguard Funding will spend between 18 and 24 months in prison after admitting to embezzling more than $8.9 million from warehouse lines of credit that were meant to fund mortgages.
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  • New York foreclosure firm admits to cheating Fannie Mae, VA out of millions

    Rosicki, Rosicki & Associates accused of "systematically" overbilling expenses
    The U.S. Attorney’s Office for the Southern District of New York announced Tuesday that it reached a settlement with Rosicki, Rosicki & Associates, in which the law firm admitted to using its wholly owned affiliates, Enterprise Process Service and Paramount Land, to overcharge Fannie Mae and the VA for millions of dollars in foreclosure and eviction-related expenses.
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