“It’s not common to have a combined regulatory and enforcement function,” he said, adding, “It’s effectively very competitive with the attorney general’s jurisdiction.”
The two agencies are publicly cordial, but behind the scenes they are much like two boxers feeling each other out in an opening round. Already, turfs are overlapping.
But one could be forgiven for being confused. Since Gov. Andrew M. Cuomo installed him as superintendent of a new state agency, the Department of Financial Services, which became active in October, Mr. Lawsky has been making headlines normally associated with attorneys general.
He has forced insurers to turn over more than $100 million in unpaid death benefits to surviving family members, dispatched rafts of subpoenas to banks, and pressed lenders to curb abusive foreclosure practices.
I’ve watched several of Chris’s videos and he has a way of explaining foreclosure fraud very well & always asks the right questions. This is a great video for those who are just in the beginning stages.
Must watch in its entirety…
New York Attorney General and co-chair of President Obama’s new mortgage crisis unit Eric Schneiderman talks with Chris about his expectations for the new mortgage crisis investigations.
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