Investments and Business

A year ago, the government and America’s largest banks joined forces in a rare moment of comity.They were forced into action after Silicon Valley Bank collapsed on March 10, 2023, quickly followed by two other lenders, First Republic and Signature Bank. Faced with the threat of a billowing crisis that could threaten the banking industry — the worst one since 2008 — rivals and regulators put together a huge bailout fund. Eventually all three ailing banks were declared insolvent by the government and sold off.The biggest banks emerged from the period even larger, after picking up accounts from their smaller…

For years, the Yimbytown conference was an ideologically safe space where liberal young professionals could talk to other liberal young professionals about the particular problems of cities with a lot of liberal young professionals: not enough bike lanes and transit, too many restrictive zoning laws.The event began in 2016 in Boulder, Colo., and has ever since revolved around a coalition of left and center Democrats who want to make America’s neighborhoods less exclusive and its housing more dense. (YIMBY, a pro-housing movement that is increasingly an identity, stands for “Yes in my backyard.”)But the vibes and crowd were surprisingly different…

The chairmen of five key Senate committees on Thursday warned the chief executives of major convenience stores and wholesalers to stop sales of illicit flavored vaping products that they called “widespread violations of federal law.”The senators voiced their concerns in letters to the companies, amplifying the frustration among some lawmakers in Congress over the continued availability of e-cigarettes in vivid colors and candy flavors that attract young people who could become addicted to nicotine. The unchecked sales, they wrote, “pose a tremendous public health threat.”“F.D.A. and the industry must do more to address the youth vaping epidemic and remove unauthorized…

New York Community Bank, the midsize lender under pressure over its real estate loans and internal management, announced an overhaul on Wednesday that included more than $1 billion in emergency cash, the addition of former Treasury Secretary Steven Mnuchin to its board and the appointment of its third chief executive in a month.The deal was an attempt to shore up a bank that has lurched from shock to shock this year, and attracted the attention of regulators in Washington eager to avoid another banking crisis close to the one-year anniversary of the collapse of Silicon Valley Bank.The investment of more…