Articles by Zeke Faux and Zachary R. Mider

Cuomo Criticizes Predatory Lending Approach Involving New York Courts

New York Governor Andrew Cuomo is seeking to end his state’s role as the nation’s collections department for predatory loans to small businesses. Cuomo plans to submit legislation to curtail the use of confessions of judgment, he said Tuesday in …

New York Lawmakers Pledge to Change Laws That Enable Predatory Lending

New York legislators are pledging to change laws that have allowed predatory lenders to use the state court system to seize the assets of thousands of small businesses across the country. Brad Hoylman, incoming chairman of the Senate Judiciary Committee, …

New York Said to Open Investigation into Potential Small-Business Lending Abuse

New York’s attorney general has opened an investigation into potential abuses by finance firms that offer quick money to small businesses nationwide, according to a person familiar with the probe. Attorney General Barbara Underwood’s office is looking into whether merchant …

Senators Seek Ban on ‘Confessions’ Tactic Used by Predatory Small Business Lenders

Two U.S. senators are seeking to outlaw a legal tactic that predatory lenders have frequently used to seize money from small businesses. Senators Sherrod Brown, the top Democrat on the Senate Banking Committee, and Marco Rubio, a Florida Republican, said …

Wells Fargo Settles Brokers’ Claims of Racial Bias

Wells Fargo & Co. settled a dispute with a group of black brokers claiming the bank failed to give them the same career opportunities as their white colleagues. The bank will pay $35 million to more than 500 financial advisers …

Updated: China’s Fosun to Buy Remaining Shares in Ironshore for $1.84B

Fosun International Ltd., the investment arm of China’s biggest closely held conglomerate, is planning a $1.84 billion merger with Ironshore Inc. after buying the shares it doesn’t already own in the Bermuda-based insurer. Fosun’s unit Mettlesome Investment 2 will combine …