Former N.Y. superintendent Vullo joins Emigrant Bank board
Maria Vullo, the former superintendent of the New York State Department of Financial Services, has joined the boards of Emigrant Bank and its holding company, New York Private Bank & Trust.
Vullo left her post at the New York banking regulator in February after serving in the job for three years.
During her time as New York’s top banking regulator, Vullo often called for more oversight of fintech firms that made loans or served as money transmitters. She joined a Conference of State Bank Supervisors’ lawsuit against the Office of the Comptroller of the Currency over its proposed special charter for fintech firms and filed her own suit against the agency.
She also implemented rules requiring banks to keep their cybersecurity defenses up to date.
Before serving as banking superintendent, Vullo was a partner with the law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP.
In April, Vullo joined the FinTech Innovation Lab, a 12-week program where bank executives coach fintech startups, as an adviser. That program is run by the Partnership Fund for New York City and Accenture. Vullo is essentially its regulator-in-residence, coaching fintech firms on how to take regulators’ concerns into account when dealing with banks and insurance companies.
Howard Milstein, chairman, president and CEO of both the $5.7 billion-asset Emigrant Bank and its holding company, said he is “thrilled” to be bringing Vullo aboard.
“Her depth of experience in financial services regulation and operations will greatly enhance our ability to provide innovative services to a range of customers in the markets we serve,” he said.