Regulator bats back over proposed new powers

Albany -- The war of words between the state Department of Financial Services and state Attorney General Eric Schneiderman continues.

Maria Vullo, superintendent of the state's insurance and banking regulator, on Wednesday sent a letter to legislative leaders disputing claims made by Schneiderman, who in his own earlier letter had complained that Gov. Andrew Cuomo's proposals to expand the powers of DFS represented "a wholly unnecessary overreach by the Executive (that) ... should be rejected by the Legislature."

Cuomo is seeking to give the agency — which he controls — more power to among other things conduct its own civil litigation instead of having to make referrals to the AG's office.

Vullo wrote that Schneiderman's objections are "premised on unnecessary rhetoric and a series of factual and legal errors."

Read more: http://www.timesunion.com/local/article/Regulator-bats-back-over-proposed-new-powers-10939285.php