Daily News Digest

 

April 19, 2019


Politico

  • The Department of Housing and Urban Development is moving to bar illegal immigrants from receiving housing aid, saying it is acting on behalf of the millions of American citizens and legal residents who are waiting for public housing.
  • The number of Americans filing applications for unemployment benefits dropped to the lowest in nearly 50 years last week.

New York Post

  • Canopy Growth is hoping to acquire one of the U.S.’ largest marijuana growers, Acreage Holdings, for $3.4 billion. The deal is contingent upon federal action to legalize the production and sale of cannabis. Acreage’s Board of Directors include former House Speaker John Boehner and Republican Presidential candidate William Weld.
  • U.S. sanctions on Venezuela have led the New York Fed to crack down on Puerto Rico’s offshore banking industry. Some of the banks in question are owned by Venezuelan citizens and will be prohibited from opening accounts with the Fed.

The New York Times

  • There are 81 historic bank buildings in New York City that are considered landmarks. Developers believe these opulent spaces can provide the foundations for new construction. Most notable of such recent projects is the 1908 Dime Savings Bank building in South Williamsburg, Brooklyn.

The Wall Street Journal

  • Retail sales rebounded in March with the largest monthly gain since 2017, helping to boost GDP estimates for the first half of the year. Spending on cars, auto parts, clothing, and furniture led the increase. Spending on sporting goods, books, and hobbies was down.
  • The New York City Council passed climate change-related legislation aimed at reducing the carbon emissions of large buildings (25,000+ square feet). The costs of retro-fitting commercial and residential buildings by the staggered compliance dates in 2024, 2030, and 2050 are estimated to top $4 billion in total. Mayor DeBlasio says he intends to sign the bill.

American Banker

  • Credit quality metrics at four banks that specialize in consumer lending were generally better than expected during the first quarter, subduing concerns about the short-term outlook for U.S. households. Recent disclosures suggest U.S. consumers are largely still able to meet their financial obligations, despite the long run-up in household debt.




Questions?

Karen Armstrong, Senior Vice President, Communications and Political Action
karmstrong@nyba.com


Duncan McCausland
, Marketing and Communications
dmccausland@nyba.com