New York State Creates New Consumer Protection and Enforcement Division
On April 29, 2019, the New York State Department of Financial Services announced a newly created Consumer Protection and Financial Enforcement Division. The new division is responsible for protecting and educating consumers and fighting consumer fraud. It is tasked with ensuring that regulated entities comply with New York and federal law in relation to their activities serving the public. In addition, it will develop investigative leads and intelligence to enforce banking and financial services laws. Katherine A. Lemire, a former assistant United States attorney and prosecutor, was appointed as executive deputy superintendent of the new division.
CLA’s financial institution regulatory compliance team assists banks and credit unions nationwide in establishing regulatory compliance programs, conducting compliance testing, and training staff on regulations. Justin Robinson is a member of CLA’s regulatory compliance team and can be reached at justin.robinson@CLAconnect.com.
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