'Oversight issues' at NY's Home Loan bank; new tool IDs 'CDFI deserts'

The Federal Home Loan Bank of New York said in a filing with the Securities and Exchange Commission that it has paid $561,600 to Edwin Artuz, its chief administrative officer, director of diversity and inclusion and senior vice president of the bank, who stopped working at the bank on July 1.

Jose Gonzalez, the district's president, said in an internal memo to employees obtained by American Banker that Artuz left the district after "oversight issues" were uncovered by an external review.

"An external review of our Human Resources Department identified oversight issues that need to be addressed, necessitating a restructuring of the group," Gonzalez wrote to employees earlier this year announcing staff changes.

In addition to Artuz, Mildred Tse-Gonzalez, director of human resources and corporate real estate, also has left the bank. 

A spokesman for the bank said that a review of the human resources department had "identified opportunities for restructuring and modernization." —Kate Berry

This week, Philadelphia-based CDFI Friendly America announced the launch of its CDFI Market Map, a free, online mapping system built around the concept of "CDFI deserts." 

The tool — intended for CDFIs, bankers, regulators, philanthropists, impact investors and local officials — makes it easy to spot the market potential for CDFIs anywhere in the U.S. "What's most noteworthy is that until now, everyone knew that CDFIs (and banks) were not reaching some places. Now we know there are 1,292 CDFI deserts across the U.S. and we show you where they are, down to the census tract level," said CDFI Friendly America's president, Mark Pinsky.

The map will also help CDFIs and communities seeking to participate in the Greenhouse Gas Reduction Fund, the $27 billion program created by the Inflation Reduction Act, by identifying "Justice40" areas which are key to the program. —Traci Parks

Global law firm A&O Shearman — formed in 2024 via the merger of historic firms Allen & Overy and Shearman & Sterling — announced on Monday the hiring of Alyssa Simon as a partner in its U.S. debt finance practice based in the firm's New York office. 

"Alyssa's expertise in high-yield financings bolsters our newly combined firm's position as a one-stop shop for all forms of leveraged financings in the market," said Jake Mincemoyer, the firm's global co-head of debt finance, in a press release.

Simon began her career at a major global law firm before moving to a leading investment bank, where she held a variety of roles. "I am very happy to be joining the outstanding team at A&O Shearman," Simon said in the release. "The firm's global reach, its talented team and its top tier client roster is a great fit for my practice." —Traci Parks