Power Vacuum at N.Y. Bank Regulator as Lawsky's Bulldog Quits
- Cuomo's search for new DFS chief has dragged on for months
- Agency has clashed with governor over independence on cases
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New York’s oversight of the financial services industry is in disarray following news that the acting head of the state’s Department of Financial Services will leave by year’s end, with no replacement in sight.
The four-year-old agency, which Governor Andrew Cuomo created in the aftermath of the financial crisis, lost its first leader when Benjamin Lawsky stepped down in June. Now it’s losing Anthony Albanese, Lawsky’s right-hand man, who shared his boss’s aggressive enforcement vision.