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[1/2] A BNY Mellon sign is seen on their headquarters in New York's financial district, January 19, 2011. A lawyer for BNY Mellon also declined to comment. They have long said their contracts shielded them from liability for RMBS losses, and that particularly sophisticated investors should have known the risks. In its December 2015 complaint, Commerzbank accused BNY Mellon of sitting "idly" as losses piled up, rather than force lenders to buy back and servicers to address troubled loans. The case is Commerzbank AG v. The Bank of New York Mellon et al, U.S. District Court, Southern District of New York, No.

Persons: Brendan McDermid, Germany's, George Daniels, Commerzbank's, Dave Wollmuth, BNY Mellon, Commerzbank, Daniels, The Bank of New York Mellon, Jonathan Stempel, Grant McCool Organizations: REUTERS, Bank of New York Mellon, District, BNY Mellon, Countrywide, NovaStar, BNY, New York, CDO, Commerzbank, The Bank of New York, Court, Southern District of, Thomson Locations: New, U.S, Manhattan, Barrington, Southern District, Southern District of New York, New York

☆ These states will pay you to build a tiny home in your backyard
▼ + stars: | 2023-08-21 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +5 min

Building backyard tiny homes can be expensive. There are three states that will help with the cost, by providing homeowners with grant money. These backyard homes, called accessory dwelling units, or ADUs, are small housing units that homeowners can build on their property. In California, where most backyard homes are being built, ADU building permits cost anywhere from $450 to $15,000 — even before construction starts, according to Backyard Unlimited, a company that builds ADUs. Insider reached out to all 50 states to learn which pay homeowners to build ADUs.

Persons: you've, there's, Joyce Higashi's ADU, Kelsey Neubauer, Vermonters Organizations: Service, Backyard, Department, California Housing Finance, California Housing Finance Agency New, AMI, York State's Homes, York State Homes, Community Renewal, Champlain Housing Trust, Community Development, Windsor Housing Trust, Vermont Housing, of Housing, Community Locations: Wall, Silicon, California, California Housing Finance Agency New York, Monroe , New York, Hudson, New York City, Onondaga County, Syracuse, York, Community Renewal Vermont, Burlington , Vermont, Vermont, Champlain, Western Vermont, Windham, Windsor

☆ A 77-year-old talks to an AI-companion robot called ElliQ over a dozen times daily to combat her loneliness: 'It really is like having somebody else in here'
▼ + stars: | 2023-08-18 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Priscilla O'Kesson uses AI-powered robot ElliQ to combat her loneliness, Spectrum News reported. The 77-year-old is one of 257 New Yorkers who received the ElliQ at no cost through New York State. The 77-year-old told Spectrum News that she talks to the robot about 12 to 15 times per day. "I enjoy her," O'Kesson told Spectrum News regarding the robot. In March 2023, aging departments in California and Washington announced new programs with Intuition Robotics that aims to provide elders across select counties in each state with the ElliQ robot.

Persons: Priscilla O'Kesson, O'Kesson, William Holmes, Greg Olsen, Olsen Organizations: Spectrum News, Yorkers, Morning, Yorker, Spectrum, Robotics, Intuition Robotics, NYS Aging Office, Washington Locations: New York State, Greene County, Catskill, California, she's, New York, York, Florida

☆ Donald Trump raped E. Jean Carroll even though he was found liable only for 'sexual abuse,' judge rules
▼ + stars: | 2023-07-19 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

A jury found that Donald Trump sexually abused E. Jean Carroll but not that he raped her. The judge says Trump "raped" Carroll "as many people commonly understand the word 'rape.'" The jury did not, Trump's lawyers trumpeted at the time, find that Trump "raped" Carroll — the central part of her allegations. Caroll's lawsuit alleged that, in the mid-1990s, Trump raped her in the Bergdorf Goodman department store in Manhattan. Carroll is taking Trump to court — againIn his opinion upholding the jury verdict, Kaplan took issue with the denials that Trump "raped" Carroll.

Persons: Donald Trump, Jean Carroll, Trump, Carroll, trumpeted, Lewis Kaplan, Kaplan, Goodman, Carrol, Ms, —, Carroll I, E Jean Carroll, Carroll II, Roberta Kaplan, Carrol I Organizations: Service, Carroll, US, New York Penal, FBI, American Psychological Association, Trump, Justice Department Locations: Wall, Silicon, Manhattan, New York, Trump

☆ U.S. Virgin Islands seeks at least $190 million from JPMorgan Chase in Jeffrey Epstein case
▼ + stars: | 2023-07-14 | by ( Dan Mangan | ) www.cnbc.com time to read: +6 min

The government of the U.S. Virgin Islands in a court filing Friday estimated that it will seek damages of at least $190 million from JPMorgan Chase in a lawsuit accusing the big bank of facilitating sex trafficking by its former long-time customer Jeffrey Epstein. The Virgin Islands also said it wants an order requiring JPMorgan to take a series of steps to protect young women and girls from other predators in the future. The filing says the Virgin Islands wants at least $150 million in civil penalties alone. JPMorgan in its own court filings has accused the Virgin Islands itself of being "complicit in the crimes of Jeffrey Epstein." Last month in the same court where the Virgin Islands is suing the bank JPMorgan agreed, without admitting wrongdoing, to pay $290 million to victims of Epstein to settle a suit by one of his accusers.

Persons: Jeffrey Epstein, Epstein, Jed Rakoff, Jeffrey Epstein's, JPMorgan Chase, Ariel Smith, Smith, Patricia Wexler, JPM, Virgin, Sergey Brin, Bill Gates, Lex Wexner, Glenn Dubin, Donald Trump, Bill Clinton, Prince Andrew of Great Organizations: New York State Division, Criminal, Services, Reuters, U.S . Virgin, JPMorgan Chase, Virgin, JPMorgan, Virgin Islands, Google, Microsoft, Limited Brands, Deutsche Bank, New York state's Department of Financial Services Locations: U.S, Manhattan, United States, Virgin, Eastern, Prince Andrew of Great Britain, Florida, New York

July 13 (Reuters) - Alex Mashinsky, the founder and former CEO of bankrupt cryptocurrency lender Celsius Network, was arrested and charged with fraud, a U.S. prosecutor in New York said Thursday, while three federal regulatory agencies sued him and his company. Mashinsky, 57, was charged with seven criminal counts - including securities fraud, commodities fraud and wire fraud - while Celsius' former chief revenue officer, Roni Cohen-Pavon, was charged with four criminal counts, according to the indictment, which was unsealed on Thursday. Its founder Sam Bankman-Fried was charged with fraud last year, and has pleaded not guilty. Crypto lenders such as Celsius grew rapidly as crypto prices surged during the COVID-19 pandemic. The U.S. Commodity Futures Trading Commission and the Federal Trade Commission also sued Celsius and Mashinsky.

Persons: Alex Mashinsky, Roni Cohen, Pavon, Cohen, Sam Bankman, Fried, Mashinsky, Niket, Hannah Lang, Elizabeth Howcroft, Chris Prentice, Shinjini Ganguli, Chizu Nomiyama, Jonathan Oatis Organizations: Mashinsky, Attorney's, Prosecutors, U.S . Securities, Exchange Commission, SEC, Arrows Capital, U.S . Commodity Futures Trading Commission, Federal Trade Commission, FTC, Network, Coinbase, Arbinet, Transit Wireless, Thomson Locations: U.S, New York, Manhattan, New Jersey, cryptocurrency, Singapore, Bengaluru, Washington, London

The court's conservative majority has taken an expansive view of Second Amendment rights in a nation facing persistent gun violence including mass shootings. The court has widened gun rights in three major rulings since 2008. "The stakes are high for those experiencing domestic violence if violent partners can legally possess firearms," Lungwitz said. The National Rifle Association, an influential gun rights group, did not respond to a request for comment. "By removing those kinds of considerations, it makes constitutional law - and Second Amendment law, in particular - even more removed from the way that ordinary citizens think about constitutional protections."

Persons: Joe Biden's, Zackey Rahimi, Rahimi, Janet Carter, Bruen, James Ho, Donald Trump, Elizabeth Prelogar, Lungwitz, Jacob Charles, Charles, John Kruzel, Will Dunham, Scott Malone Organizations: U.S, Supreme, New York, Circuit, Appeals, Republican, University of Texas School, Law's, Violence, Democratic, National Rifle Association, Pepperdine University Caruso School of, Thomson Locations: WASHINGTON, Texas, New York, New Orleans

☆ US Supreme Court to weigh legality of domestic-violence gun curbs
▼ + stars: | 2023-06-30 | by ( John Kruzel | Industry Insight | Corporate Attorneys Don T Want To Pay Law Firms For Chatgpt When They Could Use It Themselves | ) www.reuters.com time to read: +4 min

The case involves a Texas man charged with illegal gun possession while subject to a domestic violence restraining order after assaulting his girlfriend. The 1994 law at issue in the current case prohibited a person subject to a domestic violence restraining order from possessing a firearm. Circuit Court of Appeals in February declaring the law unconstitutional in a ruling that applied to Texas, Louisiana and Mississippi. Solicitor General Elizabeth Prelogar told the Supreme Court on behalf of Biden's administration that the 5th Circuit's ruling was "profoundly mistaken." Twenty-three states, mostly Democratic-led, urged the Supreme Court to hear the dispute, as did groups advocating for the prevention of gun violence and domestic abuse.

Persons: Joe Biden's, Zackey, Rahimi, Elizabeth Prelogar, Prelogar, John Kruzel, Will Dunham Organizations: U.S, Supreme, New York, New, Circuit, Appeals, Democratic, Thomson Locations: Texas, United States, New York, Kennedale, Arlington , Texas, New Orleans, Texas , Louisiana, Mississippi

NEW YORK/LONDON, June 1 (Reuters) - A bill backed by debt justice campaigners and civil society groups advocating on behalf of economically distressed countries could alter past and future sovereign debt restructurings covered by New York state law - and Wall Street is watching. Senate Bill S4747, the NY Taxpayer and International Debt Crises Protection Act, "relates to New York state's support of international debt relief initiatives for certain developing countries." The initiative has so far failed to accelerate debt relief talks, while private creditors are not even formally included in this initiative. It would "bring badly needed improvements to the framework for resolving unsustainable sovereign debt burdens," according to Nobel Prize-winning U.S. economist Joseph Stiglitz. If this bill passes, "I would recommend issuers not go through New York law, (but) through London or any other jurisdiction," said Rodrigo Olivares-Caminal, professor of banking and finance law at Queen Mary University of London.

Persons: Bill S4747, Alexander Flood, Patricia Fahy, Kathy Hochul, Joseph Stiglitz, Rishikesh Ram Bhandary, THE BILL, Rodrigo Olivares, Caminal, Rodrigo Campos, Jorgelina, Karin Strohecker, Aurora Ellis Organizations: NY Taxpayer, Senate, Institute of International Finance, Paris Club, China, WHO, Economic, Initiative, Boston, Global, Policy, THE, Queen Mary University of London, Thomson Locations: New York, United States, Ukraine, Sri Lanka, Zambia, Rishikesh, London, Paris, Brazil, Argentina, Rosario

That was the promise of a digital library of movies and TV shows. "Warner Bros. That's why NBCUniversal had to pay itself $500 million to stream Universal TV's "The Office" on Peacock and Warner Bros. Rafael Henrique | Lightrocket | Getty ImagesBy removing the content specifically made for streaming rather than licensed shows and movies, Warner Bros. Warner Bros.

☆ Events leading up to Donald Trump sexual abuse verdict
▼ + stars: | 2023-05-09 | by ( Jonathan Stempel | ) www.reuters.com time to read: +4 min

2021-September 2022 - Carroll's lawsuit is largely on hold while Trump appeals Kaplan's decision. Oct. 12, 2022 - Trump repeats his denials of Carroll's claims. Oct. 19, 2022 - Trump is deposed in Carroll's first lawsuit. March 28, 2023 - Kaplan rejects Trump's request to throw out the defamation claim in Carroll's second lawsuit. April 25, 2023 - Trial gets under way.

☆ Signature Bank failure due to 'poor management,' US FDIC report says
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +4 min

April 28 (Reuters) - Last month's failure of New York-based Signature Bank was caused by "poor management" and a pursuit of "rapid, unrestrained growth" with little regard for risk management, the Federal Deposit Insurance Corporation said on Friday in a report detailing its supervision and regulation of the regional bank. Bank management and its board chased growth and deposits without "developing and maintaining adequate risk management practices and controls appropriate for the size, complexity and risk profile of the institution," according to the 63-page report. The same day SVB failed, Signature lost 20% of its total deposits in a matter of hours, FDIC Chair Martin Gruenberg has said. Similar to SVB, Signature examiners reported weak corporate governance practices and failures by bank management to address shortcomings identified by supervisors, including the firm's reliance on uninsured deposits. Like SVB, Signature relied heavily on uninsured deposits and experienced a boom in growth between 2019 and 2020, when its assets grew 64%, according to Gruenberg.

☆ Up in smoke: New York State set to ban natural gas in new buildings
▼ + stars: | 2023-04-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUp in smoke: New York State set to ban natural gas in new buildingsHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. State Sen. Jabari Brisport (D-N.Y.) and State Sen. Thomas O’Mara (R-N.Y.) discuss New York State's move to ban natural gas in new buildings.

☆ 'New York hates you': Protesters chant as Trump arrives at AG's office
▼ + stars: | 2023-04-13 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

Politics'New York hates you': Protesters chant as Trump arrives at AG's officePostedFormer President Donald Trump was seen holding up his fist as he left Trump Tower Thursday (April 13) morning before making his way downtown for the New York state's attorney general's office, where protesters chanted outside.

☆ Trump lawyers oppose cameras at arraignment, warn of 'circus-like atmosphere'
▼ + stars: | 2023-04-03 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Former US President Donald Trump waves as he boards his plane at Palm Beach International Airport in West Palm Beach, Florida, on April 3, 2023. Lawyers for former President Donald Trump urged a judge to deny a request by media outlets for cameras in a Manhattan courtroom where Trump is set to be arraigned on criminal charges Tuesday. "We submit that the media request should be denied because it will create a circus-like atmosphere at the arraignment, raise unique security concerns, and is inconsistent with President Trump's presumption of innocence," Trump's lawyers said in their letter to Judge Juan Merchan. The letter was made public as Trump was flying from his home in Florida to New York City in anticipation of his court appearance. And Colangelo added that "even if cameras are not categorically barred," judges have the discretion to "control the conduct of judicial proceedings."

☆ Trump attorney promises 'smooth surrender' after indictment as authorities make preparations for arraignment
▼ + stars: | 2023-03-31 | by ( Laura Italiano | Charles R. Davis | ) www.businessinsider.com time to read: +3 min

An attorney for former President Trump told Insider that he will not resist attempts to arrest him. Trump is due to present himself to the Manhattan Criminal Court on Tuesday. "It will be a smooth surrender," attorney Susan Necheles promised. On Friday, Bragg's office fired back at congressional critics, who have demanded the district attorney provide documents and testimony related to the investigation into Trump. "What neither Mr. Trump nor Congress may do is interfere with the ordinary course of proceedings in New York State," the letter added.

☆ Manhattan DA office blasts House Republicans for collaborating with Trump's efforts to paint his indictment as 'politically motivated'
▼ + stars: | 2023-03-31 | by ( Jacob Shamsian | Oma Seddiq | ) www.businessinsider.com time to read: +5 min

The Manhattan district attorney's office blasted House Republicans in a letter dated Friday. Three committee chairmen have subpoenaed DA Bragg over the office's investigation into Trump. "What neither Mr. Trump nor Congress may do is interfere with the ordinary course of proceedings in New York State," the DA's general counsel, Leslie Dubeck, added. In the aftermath of the indictment, he rallied his congressional Republican allies, who had been trying to investigate the Manhattan district attorney's office, for support, according to CNN. Friday's letter says any interference in an ongoing criminal investigation would be "unprecedented and illegitimate," and jeopardize Trump's privacy rights.

March 12 (Reuters) - State regulators closed New York-based Signature Bank (SBNY.O) on Sunday, the third largest failure in U.S. banking history, two days after authorities shuttered Silicon Valley Bank (SIVB.O) in a collapse that stranded billions in deposits. All of the depositors of Signature Bank and Silicon Valley Bank will be made whole, and "no losses will be borne by the taxpayer," the U.S. Treasury Department and other bank regulators said in a joint statement. Signature's failure followed Silicon Valley Bank's Friday shutdown, the second largest in U.S. history behind Washington Mutual, which collapsed during the 2008 financial crisis. Signature Bank's depositors and borrowers will automatically become customers of the bridge bank, the FDIC said. Signature Bank cut ties with Trump in 2021 following the deadly Jan. 6 riots on Capitol Hill, and urged Trump to resign.

The U.S. Treasury Department and other bank regulators said in a joint statement on Sunday that all depositors of Signature Bank will be made whole, and "no losses will be borne by the taxpayer." Signature Bank reported deposit balances totaling $89.17 billion as of March 8. Representatives for Signature Bank did not immediately respond to a request for comment. The FDIC on Sunday established a "bridge" successor bank to Signature Bank, which will enable customers to access their funds on Monday. Signature Bank's depositors and borrowers will automatically become customers of the bridge bank, the FDIC said.

☆ The SEC has a stablecoin firm in its sights — and it could shake up the whole $137 billion market
▼ + stars: | 2023-02-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

Paxos has been ordered by New York regulators to stop issuing the Binance USD (BUSD) stablecoin. The move will have major implications for the $137 billion market, experts told CNBC. Are stablecoins securities? Renato Mariotti partner, BCLPIf BUSD is deemed a security by the SEC then the regulator would have oversight over the stablecoin. "Absent a successful fight, it is most likely BUSD will no longer be sold into the U.S. or be available on U.S.-based digital asset exchanges," Lansing said.

☆ The crypto comeback: Here's what's driving it, according to Bernstein
▼ + stars: | 2023-02-16 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

A flurry of factors have come together recently to spark a big comeback for crypto . Those gains come after a difficult 2022 for the crypto market. Bernstein analyst Gautam Chhugani said that recent regulatory actions may not be as bad as people think, helping push crypto prices upwards. Short covering occurs when a short seller buys back shares in order to close out an open short position — returning borrowed shares — in an attempt to limit losses. But there's more than just short covering — there's fresh buying going on which is forcing prices to squeeze up, the firm said.

☆ Paxos ordered to cease minting Binance stablecoin by New York regulator
▼ + stars: | 2023-02-13 | by ( Rohan Goswami | ) www.cnbc.com time to read: +3 min

Cryptocurrency firm Paxos will cease issuing new Binance USD, or BUSD , stablecoins under the direction of New York state's financial regulator, Binance founder Changpeng Zhao said Monday. "We were informed by Paxos they have been directed to cease minting new BUSD by the New York Department of Financial Services," Zhao said on Twitter. Paxos' BUSD product is related to, but separate from, Binance's self-issued Binance-pegged BUSD. "The Department has not authorized Binance-Peg BUSD on any blockchain, and Binance-Peg BUSD is not issued by Paxos," NYDFS said. Last week, the Securities and Exchange Commission settled with crypto exchange Kraken over allegations of unregistered offering and sale, in connection with Kraken's crypto staking platform.

☆ Getir lays off 100 employees in the latest sign of trouble for the rapid-delivery startup
▼ + stars: | 2023-02-02 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Getir laid off roughly 100 US corporate employees this week, Insider has learned. Getir's US arm has struggled to pay store employees properly and held them to strict time goals. Before the layoffs, Getir's Slack channel for US employees contained roughly 260 corporate employees. In 2022, Insider reported on the conditions that Getir employees faced filling and delivering orders at the company's US stores. Getir also struggled to pay store employees in full and on-time, several told Insider.

☆ Donald Trump ends another legal challenge to N.Y. attorney general probe
▼ + stars: | 2023-01-24 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

A stipulation of voluntary dismissal signed by Trump's lawyer Alina Habba and a lawyer for state Attorney General Letitia James was filed on Tuesday with the federal appeals court in Manhattan. On Jan. 6, New York state judge Arthur Engoron rejected Trump's bid to dismiss the case. He declined to impose sanctions against Trump for arguments including that James was pursuing a political "witch hunt," but said "sophisticated defense counsel should have known better." Trump's adult children Donald Jr., Eric and Ivanka are also defendants in James' lawsuit. Reporting by Jonathan Stempel in New York; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ New York state comptroller asks Southwest Air about plans to avoid future meltdowns
▼ + stars: | 2023-01-09 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +2 min

CHICAGO, Jan 9 (Reuters) - New York State's comptroller has written to Southwest Airlines Co (LUV.N), asking the carrier to explain how it plans to prevent an operational collapse like the one at the end of last year which stranded thousands of passengers. The comptroller's office oversees the state's pension system, which held 1.35 million shares of the Dallas-based company at the end of March 2022. DiNapoli asked the company to share its plan to "correct these failures - not just in the immediate term, but for the coming years." A Southwest spokesperson told Reuters earlier that the airline is focusing on improving its technology for scheduling crews. Reporting by Rajesh Kumar Singh in Chicago Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

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