Leadership Void Threatens To Weaken NY Financial Watchdog

By Evan Weinberger (October 28, 2015, 7:20 PM EDT) -- With the acting head of the New York Department of Financial Services preparing to step down and no new leader in sight, New York Gov. Andrew Cuomo is facing increased pressure to find a replacement or risk seeing his aggressive agency become less of a force, experts say.

The Department of Financial Services has become one of the most forceful financial regulators in the world since its creation in 2011, first under the leadership of former Superintendent of Financial Services Benjamin M. Lawsky and then from his successor, acting Superintendent Anthony J. Albanese. The agency has managed to rake in billions...

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