New York Bank Regulator To Examine Compliance Consultants

Law360, New York (April 18, 2013, 9:20 PM EDT) -- New York is set to increase its scrutiny of potential conflicts of interest between banks and the independent consultants and monitoring firms that are supposed to help them come into compliance with regulatory settlements, the state’s top banking and insurance regulator said Thursday.

New York Superintendent of Financial Services Benjamin M. Lawsky said that his agency would look into whether the relationships between banks and the consultants was appropriate and hurt, rather than help, the cause of bringing bank practices in line with the law....
To view the full article, register now.