Company Information

Get to know Sterling Bancorp

Sterling Bancorp, Inc. operated as the holding company for Sterling Bank and Trust, FSB, a community bank headquartered in Southfield, Michigan. The bank was primarily engaged in originating residential mortgage loans and providing personal and business banking services through its branches in California, New York, Michigan, and Washington. The company's history is marked by a significant scandal involving its "Advantage Loan Program," which led to a U.S. Department of Justice investigation, a guilty plea from the bank for bank and mortgage fraud, substantial fines, and the eventual bankruptcy and dissolution of the holding company in 2022.

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Sterling Bancorp

United States

Founded in

1888 (138 Years)

Founded

Last online: No recent activity

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Markets.com

(327 reviews)

United States

2008

(18 years)

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.