New York State DFS Superintendent Adrienne A. Harris and NYLIB President Edward T. Lutz

On January 12, 2023, New York State Department of Financial Services (DFS) Superintendent Adrienne A. Harris joined NYLIB for Q&A at Pryor Cashman’s offices in Times Square. The event was sponsored by K2 Integrity and Mazars.

HAB BANK President & CEO Saleem Iqbal Asks SUPERINTENDENT HARRIS A QUESTION

Superintendent Harris answered a number of questions posed on behalf of NYLIB member banks by NYLIB President Ed Lutz. She spoke regarding her accomplishments during her first year as Superintendent, as well as the DFS’s supervisory priorities for 2023. She relayed her thoughts on safety and soundness concerns given the current macro environment, third-party risk management of fintechs, cybersecurity, expectations for regulated banks that wish to engage in virtual currency-related activity, DFS’s efforts to support the future of community banking, and why community and foreign banks should embrace DFS supervision. She also took audience questions on a variety of topics, including the viability of charging non-sufficient funds (NSF) fees, the potential future role of central bank digital currencies, best practices for promoting diversity and inclusion, and the implications of DFS’s proposed guidance relating to managing the financial risks posed by climate change for foreign banking organizations with home country regulators.

EVENT ATTENDEES: SERGE SONDAK, JOSEPH PISTILLI, RAFIQ BENGALI, AND PINCHUS RAICE

NYLIB President Ed Lutz commented: “NYLIB is grateful to the Superintendent for providing insightful and timely comments on supervisory priorities and issues of importance to NYLIB member banks and friends. The Superintendent’s willingness to engage directly with the bank community and to answer questions is remarkable, and feedback from attendees has been uniformly positive. Many thanks to our friends at K2 Integrity and Mazars for making this event possible.”

Memorable Moments

Please enjoy more memorable moments from our evening here. We encourage you to download your favorite moments and share them on LinkedIn. Don’t forget to tag the New York League of Independent Bankers (NYLIB)!