Items Tagged with 'Andrew Cuomo'

ARTICLES

  • New York sues federal government over fintech bank charter plan

    NYDFS is taking the government to task over decision to offer bank charters to fintech companies
    New York state’s top banking regulator sued the federal government to void its decision to begin offering national bank charters to online lenders and payment companies, saying the decision was unconstitutional and posed a threat to consumers. According to Reuters, Maria Vullo, NYDFS superintendent called the Office of the Comptroller of Currency’s decision to allow fintech companies to obtain bank charters, “lawless, ill-conceived and destabilizing of financial markets.”
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  • New York suing HUD, Ben Carson to enforce Obama fair housing rule

    State joins fair housing advocates lawsuit against Trump administration
    The state of New York is moving to join a lawsuit against the Department of Housing and Urban Development and HUD Secretary Ben Carson over Trump administration recently moving to delay a controversial Obama-era fair housing rule meant to address segregation in housing.
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  • New York moves to outlaw income discrimination in housing

    Gov. Andrew Cuomo introduces bill to prevent discrimination based on income
    While the Republicans leading the Department of Housing and Urban Development are pushing to increase the rents on those who use Section 8 vouchers to afford housing, the Democratic governor of New York is moving to ensure that wanting to use a Section 8 voucher cannot be used as a means to discriminate against a prospective resident.
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  • New York, New Jersey, Connecticut plan to sue federal government over GOP tax bill

    Take issue with elimination of state and local tax deductions
    The states of New York, New Jersey, and Connecticut are planning to sue the federal government over the Republican-led tax reform bill, which President Donald Trump signed into law late last year. Each of the three states’ governors say that their residents will be harmed by the tax plan’s cap on state and local tax deductions.
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  • New York enacts new rules for credit reporting agencies in wake of Equifax breach

    New regulations bring additional consumer protections
    After Equifax revealed that it had been the victim of a data breach that exposed the personal information of 145.5 million U.S. consumers, the state of New York began moving to increase its oversight of credit reporting agencies. But those new rules don’t go far enough, according to New York Gov. Andrew Cuomo. So, Cuomo is immediately enacting new rules for credit reporting agencies that will bring additional consumer protections.
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  • New York wants NYDFS oversight of credit reporting agencies in wake of Equifax data breach

    NYDFS could prohibit agencies from doing business with New York businesses
    In the wake of its massive data breach that exposed the personal information of 143 million U.S. consumers to hackers, Equifax is already facing inquiries from the CFPB, the FTC, the HFSC, the SFC, the office of New York AGl Eric Schneiderman, and a lawsuit from the state of Massachusetts. While all those inquiries cover the breach itself, Equifax’s mistakes could lead to a significant new regulatory overhang for all of the credit reporting agencies.
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  • New York unveils $20 billion plan to fight homelessness, boost affordable housing

    First phase includes $2.5 billion for new construction, development
    New York is taking homelessness and the state’s lack of affordable housing head-on with an ambitious new program announced Thursday by the state’s governor, Andrew Cuomo. According to Cuomo’s office, the state is launching a $20 billion, five-year plan to combat homelessness and advance the construction of affordable housing throughout the state.
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  • New York proposes new rules for reverse mortgages

    Legislation would add protections for state’s senior citizens
    In addition to unveiling new legislation that would grant the New York Department of Financial Services the authority to ban individuals from working in the financial services industry, New York Gov. Andrew Cuomo also announced on Monday a series of new laws that would add financial protections for the state’s senior citizens. Included among those proposals are new rules for reverse mortgages.
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  • New York unveils proposal to ban "bad actors" from working in financial services

    Would empower NYDFS to boot individuals
    The New York of Department of Financial Services could soon have the power to ban individuals from working in the financial services industry for “egregious conduct,” New York Gov. Andrew Cuomo announced Monday. In announcing the proposal, Cuomo cited the recent fake account scandal at Wells Fargo as the kind of action that could get a person banned from working in financial services under the new rule.
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  • New York boosts community redevelopment program

    Pledges $8 million for construction, rehab, or repair of 295 homes
    New York Gov. Andrew Cuomo announced Tuesday that the state plans to provide $8 million for the construction, rehabilitation, or repair of nearly 300 homes as part of New York’s Homes and Community Renewal Affordable Home Ownership Development Program.
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