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New York banking regulator Benjamin Lawsky to resign

Superintendent of financial services in New York state, Benjamin M. Lawsky, seen here on May 5, 2015, said Wednesday he will resign next monthPowerful New York financial regulator Benjamin Lawsky, who played a key role in penalizing the world’s largest banks billions of dollars for market and sanctions abuses, said Wednesday he will resign next month. The announcement came hours after Lawsky, the superintendent of financial services in New York state, announced a $485 million fine against British bank Barclays for conspiring with other large banks to rig the foreign exchange market. Lawsky plans to step down in late June after serving as the first chief of an agency created in 2011 by New York Governor Andrew Cuomo in the wake of the financial crisis, which devastated one of the state’s leading industries.

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