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New York’s Acting Superintendent Albanese Announces His Departure

www.insurereinsure.com
October 28, 2015

New York’s Department of Financial Services is once again changing personnel ; Acting Superintendent Anthony Albanese gave notice that he will be leaving the agency.

Albanese has been Acting Superintendent of Financial Services — which was created in 2011 after the merger of the state’s banking and insurance departments — since Superintendent Lawsky stepped down in June. Gov. Andrew Cuomo and his aides have been searching for a permanent successor to Lawsky.

In his short tenure, Albanese issued the first licenses for virtual currency firms. Mr. Albanese had been the main negotiator for all the bank enforcement actions under Mr. Lawsky.

In addition, key career staff personnel have recently retired and have not been replaced.

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