New York Gov. George E. Pataki last week nominated Elizabeth McCaul to be the state's top banking regulator. Ms. McCaul has been acting superintendent since 1997 and was previously the department's first deputy.

In a speech last week, Ms. McCaul offered double Community Reinvestment Act credit to state banks making "multi-year, multi-faceted commitments to programs for low- and moderate-income youths."

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