NYDFS

New York Department of Financial Services' guidance advising banks and insurers to avoid doing business with the NRA was ruled as likely to be unconstitutional by the Supreme Court. Why is it still on the department's website?

Agencies including the SEC, Justice Department and CFTC have been trying to clean up crypto, recently targeting exchanges Binance, Kraken and Coinbase Global. 

The New York financial regulator said the move would help the agency ensure customer protections are in place in the volatile crypto market.

Adrienne Harris, who did stints at the Treasury Department and National Economic Council during the Obama administration, would succeed Linda Lacewell as superintendent of the state's Department of Financial Services.

Financial Services Superintendent Linda Lacewell said she will step down Aug. 24, the same day Gov. Andrew Cuomo plans to leave following a sexual harassment investigation. The state’s attorney general found that Lacewell helped with the governor’s public relations response to the allegations.

State regulators had notched a victory in 2019 when a judge sided with the New York State Department of Financial Services in a case challenging the Office of the Comptroller of the Currency's charter. But an appeals court panel overturned that decision.

The New York State Department of Financial Services says banks and credit unions under its supervision should limit loan concentrations in vulnerable geographic areas, avoid overexposure to fossil fuel and other legacy businesses and develop financial disclosures detailing climate-related risk.

The financial industry has praised the measured approach taken in a pending regulation on permitted communications with consumers. But two recent complaints by the bureau against debt collectors reflect a potentially aggressive enforcement stance.

Acting Comptroller of the Currency Brian Brooks and Department of Financial Services Superintendent Linda Lacewell stuck to opposing scripts on whether federal or state regulators are best equipped to protect consumers and supervise new entrants into the banking system.

In a sharp escalation of the battle over the future of the dual banking system, the acting chief of the Office of the Comptroller of the Currency suggested that states should defer to federal authority in supervising global money transmitters.