On September 29, New York State Governor Kathy Hochul announced that NYDFS Superintendent Adrienne A. Harris has decided to leave her post, so the governor appointed Kaitlin Asrow as Acting Superintendent of NYDFS, effective October 18. Asrow previously served as Executive Deputy Superintendent of the Research & Innovation division, where she oversaw the regulation of virtual currency companies and purportedly built one of the largest virtual currency regulatory teams globally. She joined NYDFS from the Fed, where she was a senior policy advisor for both the Federal Reserve Bank of San Francisco and the Fed itself.
According to the announcement, and during the Hochul administration, NYDFS expanded banking development districts, changed the way check cashing fees are calculated to better reflect consumer needs, and set clear guardrails around the use of AI in insurance underwriting and pricing. NYDFS also built its virtual currency unit into a global leader in digital asset regulation and supervision. A list of select accomplishments during Superintendent Harris’s tenure can be found here.
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