Gov seeks law to ban bank-biz baddies
THE STATE would be able to ban bad actors from the financial services industry under a proposal Gov. Cuomo announced Sunday.
The plan, which Cuomo will discuss in his State of the State speech this week, is meant to beef up New York’s powers to crack down on shady bankers like those at Wells Fargo, which was fined for opening up bogus accounts for customers without their knowledge last year.
Cuomo plans to pursue legislation that would allow the superintendent of the Department of Financial Services to bar individuals from working in the banking or insurance industries if it’s found after a hearing that the person has engaged in misconduct severe enough to have a direct bearing on their fitness to participate in the industry.
“New York is the financial center of the world, and we have zero tolerance for those who seek to defraud customers and undermine the system,” Cuomo said.
In speeches in Manhattan on Monday and around the state over several days, Cuomo will also propose an overhaul of the state’s voting system — making it easier to cast ballots by allowing early voting, automatic voter registration, and same-day registration.
Cuomo is pushing to let New Yorkers cast their ballots up to 12 days before an election.
New York is one of 13 states that do not allow early voting.