June 21, 2019 / 4:29 PM / 3 months ago

NY state Senate confirms Linda Lacewell as new chief of financial regulator

(Reuters) - New York State Department of Financial Services on Friday said on.ny.gov/2Y6m3rM the state's Senate has confirmed Linda Lacewell as the financial regulator's new superintendent.

New York Governor Andrew Cuomo, in January, nominated Lacewell, his former chief of staff, to head the regulator, which oversees banking and insurance in the state. Lacewell has served as acting superintendent since February.

Since stepping into the role Lacewell has raised concerns about the impact of technology on finance.

In April, Lacewell said she is concerned that the complex technology used by banks and insurers to make business decisions could inadvertently discriminate against some consumers. [reut.rs/2JcujQT]

Lacewell replaces Maria Vullo, who had been the superintendent since January 2016.

Reporting by Bharath Manjesh in Bengaluru; Editing by Shailesh Kuber

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