NY Groups Call on New DFS Supt. Maria T. Vullo to Speak Out Against Check Casher Industry Bill

New Economy Project
Lower East Side People’s Federal Credit Union
MFY Legal Services, Inc.
Westchester Residential Opportunities, Inc.
Western New York Law Center

The above groups issued the following statement today, regarding the NYS Senate’s confirmation yesterday of Maria T. Vullo as Superintendent of Financial Services, the state’s top financial regulator:

“We congratulate Maria T. Vullo on her appointment as New York’s new Superintendent of Financial Services. With her confirmation now official, we call on Superintendent Vullo immediately to speak out in opposition to S.6985-B (Savino)/A.9634-B (Rodriguez), a dangerously misguided bill that would allow check cashers to become lenders. Since its inception in 2011, New York’s Department of Financial Services has led tremendous, successful efforts to keep predatory lending out of our state. With New York’s strong anti-predatory lending protections under continued threat, New York’s top financial regulator should take this opportunity to firmly establish that New York puts the public interest first.”