Last week, the New York Department of Financial Services (NYDFS) issued final guidance on how banks and other financial institutions in New York State should review the character and fitness of their directors and executives.
"New York consumers and businesses should feel confident that their money is being managed by ethical and law-abiding individuals," said Superintendent Adrienne A. Harris. "Entities have a responsibility to assess the character and fitness of executives not just upon hiring, but on an ongoing basis to protect consumers and ensure the safety and soundness of the institution."
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