- Former Paul, Weiss attorney has been in the job since February
- New DFS chief replaces Lawsky as bank and insurance overseer
New York’s state senate confirmed Maria Vullo as the Superintendent of New York’s Department of Financial Services, a position in which she has been serving in a temporary capacity since February.
With Wednesday’s confirmation, Vullo, 52, becomes the second person to occupy the position, created in 2011 when Governor Andrew Cuomo combined the state insurance department with the state banking department. The DFS supervises more than 1,500 insurance companies and nearly 1,600 banks and other financial institutions.
Vullo’s predecessor, Benjamin Lawsky, the first DFS superintendent, stepped down from the agency a year ago. During his four-year tenure, Lawsky extracted nearly $6 billion in fines and penalties from financial institutions licensed by the state.