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Banking & Finance

Three new tenants headed to 3 City Center (access required)

A new restaurant and two commercial businesses will be moving into 3 City Center, the former Frontier Communications building at 180 S. Clinton Ave. The Mueller Restaurant Group will open a first-floor lunch and dinner restaurant in early 2018 that will include outdoor patio seating and "grab-unnamedand-go" service. The new eatery will occupy 6,835 square feet. The Mueller Restaurant Group also owns Label 7 in Pittsford. High Falls Advisors Inc. will move its financial services firm into nearly 8,200 square feet of third-floor space on Dec. 1.

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Misconceptions about our complex foreign trade abound

During the 2016 presidential campaign, Democratic candidate Bernie Sanders said the following about the Export-Import Bank of the United States: “We should not be providing corporate welfare to multinational corporations.” The problem with Sanders’s characterization is that EXIM’s transactions directly ...

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Community Bank eyes Rochester market

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An Onondaga County-based commercial bank will expand its reach with the opening of a business office in Victor. Ranked third in the nation for financial performance by Forbes magazine, Community Bank N.A.’s newest location will focus on commercial banking products ...

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U.S. awards $9 million to whistleblower

The U.S. Department of Justice announced Tuesday PHH Mortgage Corp. has agreed to pay the United States over $74 million to settle claims that loans originated by PHH that were insured by the U.S. Department of Housing and Urban Development’s ...

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KeyBank Foundation gives $24M to JumpStart

KeyCorp.’s KeyBank Foundation has awarded JumpStart Inc. a $24 million grant to  support the KeyBank Business Boost & Build Program in its Ohio and New York markets, officials said Monday. The gift is the single largest philanthropic commitment of the ...

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Merger boosts KeyBank

A lot has changed since KeyCorp. closed on the $4.1 billion acquisition of First Niagara Financial Group Inc. on July 29, 2016. KeyBank is not only bigger but a stronger bank in Rochester, said James Barger, president of KeyBank’s Rochester ...

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ESL launches trust unit

ESL Federal Credit Union is filling an investment gap locally with the launch of ESL Trust Services LLC. It is the first credit union in New York to create a trust company subsidiary, officials said. As part of ESL’s Wealth ...

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Citizens targets market

Emboldened by double-digit growth in first-quarter revenue, Citizens Bank N.A. is playing offense in the Rochester market by becoming more efficient and improving the experience of customers. Citizens Bank, a subsidiary of Citizens Financial Group Inc., has roughly 1,100 employees ...

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Large majority backs the arbitration ban

This week the Consumer Financial Protection Bureau decided to ban most types of mandatory arbitration clauses, which require credit card or bank customers to use a mediator when they have a dispute—often giving up their right to sue in court. Respondents to this week’s Rochester Business Journal Snap Poll strongly support the decision to ban the clauses.

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