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New York Scrutinizes Consultants.
The New York State Banking Department is holding its licensees and registrants responsible for the consultants that they use.
According to officials from the department speaking at a New York regulatory session held at the Northeast Regional Conference of Mortgage Bankers Associations here, there had been instances of licensees hiring convicted felons and calling them consultants.
Barbara Kent, director of consumer affairs and financial products for the Banking Department, said, "We don't want mortgage banking to become the industry of choice for felons."
A new state law has provided a definition of consultant. According to the department's website, "The term consultant shall mean an individual or entity involved in advising or directing management, performing management functions, or providing services to management of a licensed mortgage banker or registered mortgage broker on matters relating to the operation of the company, or an individual or entity that receives compensation, either directly or indirectly, from the ...
- NEW YORK BANKING DEPARTMENT, REALTYTRAC COMMENT ON SECOND QUARTER NEW YORK...
- News wire article from: US Fed News Service, Including US State News July 31, 2008 700+ words
The New York State Banking Department issued the following news release: The New York State Banking Department and RealtyTrac commented...of the problem." The New York State Banking Department analyzed the RealtyTrac...
- N.Y. banks lose in ruling on annuity sales. (court disallows New York Banking...
- Magazine article from: American Banker Kantrow, Yvette D. July 15, 1992 700+ words
...broader powers, a New York court has overruled a state Banking Department decision to let...the assistant New York attorney general who argued the Banking Department's case, said...As it stands, New York state-chartered...
- OCC and New York Banking Department Agree to Share Consumer Complaints.
- Press release article from: PR Newswire November 30, 2006 700+ words
...John C. Dugan and New York State Banking Department Superintendent Diana...step between the New York Banking Department and a federal bank...listserv.htm. The New York State Banking Department is the regulator for...
- Societe Generale Asks Federal Reserve to Withhold Exemption for BNP Offer and...
- Press release article from: Business Wire July 29, 1999 700+ words
...Reserve System and the New York State Banking Department regarding Banque Nationale...under Section 145 of the New York Banking Law. The only...prohibition applies if the New York State Banking Department determines that the relevant...
- PAYPAL CLEARS MAJOR HURDLE.(New York Banking Department rules PayPal not...
- Newspaper article from: Cardline June 17, 2002 700+ words
...obstacle to its growth when the New York Banking Department ruled June 7 that PayPal...also told PayPal to obtain a New York money- transmitter license...Representatives of PayPal and the New York Banking Department were unavailable for comment...
- N.Y. to weigh Clinton CRA plan before revising its own rules. (New York Banking...
- Magazine article from: American Banker Zahodiakin, Phil December 16, 1993 700+ words
It' too early to tell if New York State, which has proposed to...administration. In October, the New York Banking Department proposed a formula that would...Claire Sykes, speaking for the New York banking agency, said it's premature...
- N.Y. countering push by OCC to lure banks. (New York Banking Department...
- Magazine article from: American Banker Meredith, Robyn December 6, 1994 700+ words
...and federal regulators, the New York Banking Department is asking Empire State banks...corporate applications. Last week, New York acting superintendent of banks...charters," a spokeswoman for the New York regulator said. "Our feeling...
- NY creates fraud video.(New York Banking Department produces educational video...
- Magazine article from: Origination News February 1, 2001 700+ words
The New York Banking Department has produced an educational video on predatory lending. The video...based on incidents of abuses in the subprime mortgage market in New York City. The case scenarios covered in the video reflect abuse practices...
