New York Launches Own Version Of CFPB
New York has created a statewide financial protection division that will focus solely on corporate compliance and consumer issues, following similar efforts by New Jersey and Pennsylvania.
The New York State Department of Financial Services on Monday named Katherine A. Lemire, a former assistant U.S. attorney, to be executive deputy superintendent of the agency’s newly created Consumer Protection and Financial Enforcement division.
Lemire had been a partner at StoneTurn, a New York consulting firm, and before that founded a risk and compliance business that merged with StoneTurn. She also spent four years as counsel and principal adviser to former New York Police Commissioner Raymond Kelly.
Acting DFS Superintendent Linda A. Lacewell called Lemire “a highly respected and experienced prosecutor” and said the division “will be a powerhouse” that will guard against financial crises and protect consumers and markets from fraud.
New York’s new consumer financial protection division will address corporate compliance and consumer issues.
