NU Online News Service, Oct. 3, 2:10 p.m. EDT
New York's new Superintendent of Financial Services Benjamin M. Lawsky announces the launch of the state's Department of Financial Services, which merges the insurance and banking departments.
The plan to merge the departments was finalized in March when the state passed its budget. At that time, the state said the department would oversee any financial product, service or entity that isn't already clearly regulated by another New York agency.
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