LibertyPointe Bank First NYC Bank To Fail In 11 Years

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Real estate developer Shaya Boymelgreen's Web site proclaims his finance business is "built on a solid foundation." He might wish to revisit that statement after federal regulators seized LibertyPointe Bank, an institution that he helped start and served as chairman.

LibertyPointe late Thursday became the first New York City bank to fail in 11 years. For Mr. Boymelgreen, it was just the latest turn of the screw.

Read the whole story at Crain's New York Business