This week, after months of chatter in the business press and on Wall Street, Benjamin Lawsky finally confirmed that he’s stepping down as head of the New York State Department of Financial Services. But Lawsky won’t pass through the revolving door and join an established law firm. Instead, after four headline-making years at DFS, the former prosecutor will launch a legal and consulting business and begin a stint as a visiting scholar at Stanford University next fall.
During his tenure as the top bank regulator in New York State, the 45-year-old Lawsky reined in big banks and other financial institutions, often taking a more aggressive stance than—and sometimes butting heads with—his federal counterparts. He held top individuals accountable at financial institutions, and levied $6 billion in penalties and fees. The New Republic praised him as “The Toughest Cop on Wall Street”.
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