New York City’s banking commission voted Thursday to freeze new deposits at Capital One Bank and KeyBank, saying that the banks failed to submit a plan detailing steps they’re taking to “root out discrimination” in their operation.
The 3-0 vote by the commission, consisting of New York Mayor Eric Adams, Comptroller Brad Lander, and Commissioner of Finance Preston Niblack, means that Capital One and KeyBank won’t receive new deposits from the Big Apple’s public agencies for up to two years.
