Gov. Cuomo proposes plan to ban bankers with ‘unacceptable behavior’ in New York

admin

The state would be able to ban bad actors from the financial services industry under a proposal Gov. Cuomo announced Sunday.

The plan, which Cuomo will discuss in his State of the State speeches this week, is meant to beef up New York’s powers to crack down on shady bankers like those at Wells Fargo, which was fined for opening up bogus accounts for customers without their knowledge.

Cuomo plans to pursue legislation which would allow the superintendent of the Department of Financial Services to bar individuals from working in the banking or insurance industries if he finds after a hearing that the person has engaged in misconduct severe enough to have a direct bearing on their fitness to participate in the industry.

“New York is the financial center of the world and we have zero tolerance for those who seek to defraud customers and undermine the system,” Cuomo said. “The excesses and systematic abuse at the center of the Wells Fargo scandal is unacceptable and New York, in its role as a regulator, is seeking to take bold steps to crack down on this unacceptable behavior.”(nydailynews)…[+]

Next Post

Minister Algoe spreekt personeel LVV en Coronie toe

NICKERIE – Minister Soeresh Algoe van Landbouw Veeteelt en Visserij (LVV) heeft dinsdag op het terrein van het ministerie in Nieuw-Nickerie het personeel van de districten Coronie en Nickerie toegesproken. Hij heeft zijn medewerkers een hart onder de riem gestoken. De ontmoeting was volgens de bewindsman niet alleen bedoeld om […]

Gov. Cuomo proposes plan to ban bankers with ‘unacceptable behavior’ in New York

admin

The state would be able to ban bad actors from the financial services industry under a proposal Gov. Cuomo announced Sunday.

The plan, which Cuomo will discuss in his State of the State speeches this week, is meant to beef up New York’s powers to crack down on shady bankers like those at Wells Fargo, which was fined for opening up bogus accounts for customers without their knowledge.

Cuomo plans to pursue legislation which would allow the superintendent of the Department of Financial Services to bar individuals from working in the banking or insurance industries if he finds after a hearing that the person has engaged in misconduct severe enough to have a direct bearing on their fitness to participate in the industry.

“New York is the financial center of the world and we have zero tolerance for those who seek to defraud customers and undermine the system,” Cuomo said. “The excesses and systematic abuse at the center of the Wells Fargo scandal is unacceptable and New York, in its role as a regulator, is seeking to take bold steps to crack down on this unacceptable behavior.”(nydailynews)…[+]

Next Post

Minister Algoe spreekt personeel LVV en Coronie toe

NICKERIE – Minister Soeresh Algoe van Landbouw Veeteelt en Visserij (LVV) heeft dinsdag op het terrein van het ministerie in Nieuw-Nickerie het personeel van de districten Coronie en Nickerie toegesproken. Hij heeft zijn medewerkers een hart onder de riem gestoken. De ontmoeting was volgens de bewindsman niet alleen bedoeld om […]