the high cost of banking

One of the character-stripping branches. (DNAinfo)

Could There Be Hope for the Bank-Glutted UWS?

In recent years, the Upper West Side has been besieged by bank branches, with countless TD Banks and Citibanks, Chase Banks and Banks of America gobbling up once-vibrant street corners, the dull gleam of their ATM screens casting an eerie glow on the empty sidewalks late at night.

There has been hand-wringing, there have been outcries, there is even a zoning ordinance that prohibits banks from having storefronts wider than 25 feet. And unlike the cancerous spread of Duane Reades across every corner of our fair city, which for all their colonial tendencies offer a certain languorous refuge for the stressed city dweller, no one can quite understand what is driving the bank branches’ spread. Aren’t we always told that people are doing more and more banking online? Other than withdrawing cash from the ATM, how often do most of us really visit the bank? Read More

Manhattan Transfers

At the new place, the view is more expansive and so is the apartment.

Edward Skyler Trades Up For Love Nest Worth Twice the Price

Edward Skyler never hesitated to jettison a good opportunity for a better one. After rapidly rising through the ranks of the Bloomberg administration to become the city’s youngest Deputy Mayor, Mr. Skyler did not hang on to the hard-won post, but, rather, jumped at the chance to become an executive vice president for global public affairs at Citigroup in New York.

Thus, it should surprise no one to learn that Mr. Skyler has swapped his one-bedroom SoHo condo for a sleeker two-bedroom pad just down the block. Read More

power broker

Meyer Last

Last But Not Least

Is he the most prolific attorney in the city you’ve never heard about?

Probably not.

Still, it’s possible to lose track of just how many deals Fried Frank partner Meyer Last inked in 2011. Call it the Jon Mechanic effect. Read More

Occupy Wall Street

Video

Help us identify this undercover officer

New Footage of Citibank Arrests: Undercover Cop Shoves Elderly Woman, Protesters Dragged Inside [Video]

Last weekend’s arrests at Citibank have been thoroughly documented. The demonstrators have their side of the story (as they are told by the white shirt officer who arrives on the scene), and the police/Citibank have theirs. But before now we had not seen the footage of the undercover detective that Marshal Garrett, one of the men arrested that day, had spoke of. This officer infiltrated the protesters’ group, made the largest scene out of the whole occupation, and then barred protesters from leaving.

Well, now we do. (H/t @NewYorkist) Read More

Occupy Wall Street

Cops arrest protesters inside Citibank

Update: Citibank Protester Talks About Undercover Infiltration In Occupy Wall Street

Updated at bottom

Well, this is sort of a scary story: Marshall Garrett, one of the protesters who was arrested during Saturday’s Occupy Wall Street march for trying to hold a General Assembly in Citibank, told the Village Voice what went down that day. Apparently a plainclothed cop had been very well informed of the situation ahead of time and hidden himself in the crowd.

Read More

Occupy Wall Street

(twitter.com/celakabat)

Occupy Wall Street Run on Citibank Ends in Arrests [VIDEO]

Around 2:30 p.m. on Saturday, the Occupy Wall Street Livestream captured about 20 people being arrested outside a Citibank at La Guardia Place in New York. A protester announced via human mic that people had gone inside Citibank to close their accounts. They were asked to leave and complied, he said, but the bank’s security guards locked them in until the N.Y.P.D. arrived.

“Some wanted to close their accounts with Citibank,” he read from a cell phone. “When asked to leave, they began to exit but were locked in by security. When cops arrived, Citibank security came outside and dragged two individuals back inside to hold them under arrest.”

The protesters were loaded into the back of a police van as the crowd shouted, “Let them go! Let them go!” as 10,000-some people watched the scene on Livestream. “Liberate the unlawfully arrested!” one man shouted.

Citibank CEO Vikram Pandit, who was on a list of tycoons the protesters identified for a home visit last week, recently said he’d be happy to talk to protesters if they’d like to come by the office. Their sentiments are “completely understandable,” he said at a recent breakfast hosted by Fortune.

Video was taken by a witness, Logan Price:

By now accustomed to such interruptions, the protesters continued their march after the arrests with the customary chants. “The people, united, will never be defeated,” and so on. “OBVIOUSLY THEY NEED TO GO BACK AND RESCUE THE PEOPLE IN THE TRUCK!!!” one viewer said in the Livestream chatroom.

OccupyWallSt.org says 22 arrested, as of 3:43 p.m. Other protesters marched from Zuccotti Park, the protest’s headquarters in the Financial District, to the Citibank at 555 La Guardia Place in solidarity with the arrestees, the website said.

Update, 5:04 p.m. Another video, uploaded to the #OccupyWallStreet TwitVid account, more clearly shows a woman being arrested after telling the police that she was a Citibank customer.

The Future

Citi Opens Space Bank in Union Square

Citibank is taking the free lollipops to the next level.

Citibank opened The Bank of the Future in Union Square today, a flagship branch featuring technology from Singapore and Hong Kong that makes simple financial transactinos look  like something out of Minority Report.

Customers can browse banking products at one of six touchscreen “sales walls” Read More