Skip to comments.NY regulator has friends, foes after bank deal
Posted on 08/19/2012 12:10:56 PM PDT by Olog-hai
New York financial regulator Benjamin Lawsky, an Ivy League ex-prosecutor and top lieutenant to Gov. Andrew Cuomo, shook a record $340 million settlement this week from a major British bank accused of money-laundering for Iran, earning both praise for his aggressive approach and criticism from those who saw it as a publicity grab.
Despite the sniping from banks, other regulators and the financial press, ex-colleagues said the 42-year-old married father of two is unlikely to back off. Like others in the Cuomo administration, he's a team player who works in concert with the popular Democratic governor who appointed him.
The Wall Street Journal said in an editorial that other U.S. investigations have been under way for a long time, and Lawsky's "main contribution seems to have been to jump the queue so he could get a big publicity score."
Lawsky declined several requests for interviews.
(Excerpt) Read more at hosted2.ap.org ...
[Despite the sniping from banks, other regulators and the financial press, ex-colleagues said the 42-year-old married father of two is unlikely to back off.]
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I love happy endings!
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