On May 9, the New York State Department of Financial Services (NYDFS) issued proposed guidance to New York State-regulated banking organizations and regulated non-depository financial institutions to notify them of NYDFS’s expectation that they update their framework for the assessment of the character and fitness of their directors, senior officers, and
NYDFS tells banks to make character assessment of senior officials a priority
NYDFS issues proposed guidance, expecting covered businesses to update their framework for assessing the fitness of directors, senior officers and managers.