Richard Neiman Stepping Down As State Banking Superintendent

Written by City & State on . Posted in Banking/Insurance, Profiles

Richard Neiman announced last week that he would be stepping down as banking superintendent for New YorkState, a position he has held since 2007. Neiman made his comments at an April 26 board meeting of the Empire State Development Corporation, on which he serves as an ex-officio member. His resignation will come in advance of the merging of the state Banking and Insurance departments to form the new Department of Financial Services, which was approved as part of Gov. Andrew Cuomo’s… [More]

Cuomo Consideration: Cautions About Banking On The Infrastructure Bank

Written by Laura Nahmias on . Posted in Banking/Insurance, Other News, Real Estate/Construction, Transportation

Cuomo intends for the bank to create a pool of available funds for the state to use for economic development or transportation infrastructure projects. It would also incentivize private investment in public infrastructure, and spread out the costs created by project delays or setbacks. The proposal suggests the bank is an efficient way to finance small local projects that are necessary but too expensive for local governments to fund.… [More]

In Prosecution Of Early Financial Fraud Case As ADA, Dinallo Discovered The Martin Act

Written by City & State on . Posted in Banking/Insurance, Campaigns/Elections, News & Features, Other News, Profiles, Public Safety

Today, financial fraud cases are standard issue for every office with jurisdiction in New York. But then, the A.R. Baron case was something new: the defendants felt they were being made examples of, and the prosecution was faced with making the jury, as well as the public at large, understand a different kind of crime.… [More]

Worried About Financial Reform Loopholes, Dinallo Will Tell DC To Follow New York

Written by City & State on . Posted in Banking/Insurance, Campaigns/Elections, Other News

If he had resisted, Congress would have probably subpoenaed him. But Eric Dinallo is headed to Washington willingly on Thursday to urge the federal government to follow the model he oversaw while running the Insurance Department as it finalizes the financial regulations overhaul legislation that took a giant step toward passage in a deal struck late last week.… [More]

In Wake Of Goldman Scandal, Unions Push For Expansion Of Martin Act

Written by City & State on . Posted in Banking/Insurance, Labor/Unions, Spotlight

When thousands of union members marched on Wall Street to rail against alleged abuses by Goldman Sachs and other Wall Street firms at the end of April, their primary focus was spurring the passage of the financial reform bill currently in Congress. But at the same time, local union leaders are also pushing to change state laws in New York that they say would make the financial sector pay for the damage caused by the collapse of the country’s financial… [More]