New York banking regulator Benjamin Lawsky has spent the summer expanding his office's already weighty influence. Now he's taking a break from his rapid-fire filing of new actions. Instead, Lawsky takes stock of the potential consequences for banks and their customers of the actions he's already put in progress.

What's your overall view of the financial industry right now? Is it mostly sound with fixes needed around the edges, or does it still need a systemic overhaul? BENJAMIN LAWSKY: [Long pause.] I think we are in an incredibly dynamic environment right now, and I think there is an incredible amount of potential upside in the years to come. But when you have incredible dynamism, if you don't have guardrails and active oversight by regulators, you can run a real risk of having new, unexpected and sometimes quite serious problems and issues.

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