Debevoise & Plimpton Expects More New York Regulatory Enforcement of Banking and Financial Services

As American businesses, including financial institutions, adjust their operations in the wake of the coronavirus pandemic (COVID-19), the need to work closely with state regulators has become increasingly apparent. As anticipated, under the current federal administration we have seen state regulatory agencies react in the wake of perceived reduction in federal enforcement.[1] State attorneys general and regulatory agencies are well staffed with enforcement and industry professionals. Two leaders in these efforts to fill in the regulatory gap in the banking and financial services industry have been the New York Attorney General and the New York State Department of Financial … Read more