Maria Vullo, the superintendent of the state Department of Financial Services, will leave the department Feb. 1.
Vullo has led the DFS since June 2016, and has overseen a number of major regulatory initiatives at the state level. Most notably, under Vullo’s leadership, the DFS finalized the state’s strict cybersecurity rules.
The New York Credit Union Association maintained a strong working relationship with Vullo, who was responsive and receptive to credit union feedback.
Association President/CEO William J. Mellin issued the following statement on Vullo’s departure:
Maria Vullo has been a fair and responsive regulator during her time with the DFS. Superintendent Vullo understands the critical role credit unions play in the financial system, and she has worked closely with the New York credit union movement to create a competitive state charter. Just as importantly, she has aggressively pursued negative actors in the financial industry while taking an even-handed approach to regulating the state’s not-for-profit financial cooperatives. Superintendent Vullo’s thoughtfulness, legal acumen and extensive regulatory knowledge will be missed at the department. On behalf of the state’s credit unions, I thank her for her service and wish her the best going forward.
Gov. Andrew Cuomo has not yet nominated a replacement superintendent. The eventual nominee will need to be confirmed by the New York Senate.