According to numerous media reports, Linda Lacewell, Superintendent of New York’s Department of Financial Services, has announced her resignation.
Her last day as Superintendent is expected to be August 24, the same day that Governor Andrew Cuomo’s resignation becomes effective. Her interim successor has not yet been named. Ms. Lacewell was nominated in 2019 by Governor Cuomo, having previously served as his Chief of Staff.
Ms. Lacewell’s departure paves the way for Lt. Governor Kathy Hochul to appoint a replacement. While we have not seen reports about potential appointees yet, we expect the new Superintendent to maintain NYDFS’s Consumer Protection Task Force, Student Debt Advisory Board, and, most importantly, reliance on enforcement as the agency’s preferred regulatory tool.