From Crain's:
LibertyPointe Bank, an institution co-founded four years ago by developer Shaya Boymelgreen, has been ordered by federal regulators to cease and desist from excessively risky lending.
The bank, which is headquartered in lower Manhattan, was deemed to operating with excessive levels of delinquent loans, setting aside inadequate allowances for loan losses, and overly concentrating its portfolio in commercial real estate lending, according to the order dated July 16 but Source: Queens Crap RSS Feed
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