NY DFS’ Maria Vullo: We Oppose Proposed Fintech Charter

The video features an interview with Beulah, the Superintendent of the New York State Department of Financial Services. She discusses her role, priorities, and challenges in regulating the financial sector. Key topics include the use of fines for enforcement, the regulation of financial technology, and the impact of regulatory uncertainty. Beulah also addresses the role of the Consumer Financial Protection Bureau and the implications of insider trading on market transparency.

What is Beulah's primary concern in her role as Superintendent?

• Expanding international trade

• Reducing taxes for financial institutions

• Protecting New York's markets and consumers

• Increasing profits for banks

What is one of the mechanisms Beulah uses to regulate financial institutions?

• Tax incentives

• Fines

• Subsidies

• Grants

How does Beulah view the regulation of Fintech?

• As irrelevant to consumer protection

• As something that should be federally controlled

• As a new and unregulated field

• As an area that has been regulated for decades by states

What is Beulah's stance on the proposed Fintech charter?

• She is undecided

• She opposes it

• She supports it

• She is indifferent

What challenge does Beulah mention regarding the new administration's approach to regulation?

• Higher consumer costs

• Increased predictability

• Decreased market competition

• Unpredictability in regulatory changes

What role does the CFPB play according to Beulah?

• It focuses on international trade

• It primarily supports financial institutions

• It is a great protector of consumers

• It is a minor agency with little impact

How does Beulah view the impact of insider trading regulations?

• They have no impact on the market

• They only affect large corporations

• They are irrelevant to consumer protection

• They enhance market transparency and safety