The New York State Banking Department was created by the New York Legislature on April 15, 1851, with a chief officer to be known as the Superintendent. The New York State Banking Department was the oldest bank regulatory agency in the United States.
The Department was the primary regulator for state-licensed and state-chartered financial entities, including domestic banks, foreign agencies, branches and representative offices, savings institutions and trust companies, credit unions and other financial institutions operating in New York including mortgage bankers and brokers, check cashers, money transmitters, and licensed lenders, among others. Total assets of the institutions regulated were nearly $2.2 trillion.
Effective October 3, 2011, Governor Andrew M. Cuomo and the New York State Legislature consolidated the New York State Banking Department and the New York State Insurance Department and created the New York State Department of Financial Services.
Read more about New York State Banking Department: Mission, Employees, The Banking Board, Unique Undertakings of The Banking Department, Other Activities, Nature of State Regulation, Scope, State Regulator Associations, External Links
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