The company's attorneys had previously managed to successfully decertify the class in the seven-year long case, but the decision was reversed last year.
Banks and other financial market participants have been keyed into the central bank's communications around monetary policy expectations. But in an unpredictable economy, the guidance doesn't always hit the mark.
Only tangible, high-value works of art or collectible items will be allowed in the Sotheby's ArtFi Master Trust asset pool, and Sotheby's Financial Services eschews originating loans funded by NFTs or other intangible assets.
As banks retreat from the residential mortgage loan market, more private credit investors are embracing non-agency, non-QM financing to provide liquidity—and reap rewards.
The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.
Known for subprime financing, the sponsor has been making inroads lending to near-prime customers in the last couple of years.
