NY Approves Merger Of Insurance, Bank Regulators

Law360 (March 31, 2011, 12:34 PM EDT) -- With the passage of the 2011-2012 budget by New York lawmakers late Wednesday, the state is moving forward with Gov. Andrew Cuomo's plan to combine insurance and banking regulators into a single office with new fraud-fighting authority.

The newly minted Department of Financial Services merges the New York Department of Insurance and the Department of Banking under the authority of a single superintendent, creating new consumer protection and fraud fighting units aimed to modernize and streamline regulation, cast a wider net to catch unscrupulous activity, and...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.