Benjamin Lawsky will step down as superintendent of the state Department of Financial Services in late June, after four years in the position.
Lawksy was the first person to lead the agency, which oversees banks and insurance companies in New York state. “I am deeply proud of the work our team has done building this new agency and helping strengthen oversight of the financial markets,” he said in a statement. “We have assembled a great team at (the agency) and I have full confidence that the critical work of this agency will continue seamlessly moving forward.”
Lawsky recently had proposed tougher measures for banks in New York state to verify their anti-money laundering systems were working properly. Lawsky’s agency also brought together 11 major mortgage lenders who agreed to monitor and maintain properties across the state that are the subject of delinquent loans.