begin quote from:
ALBANY
— State Attorney General Eric Schneiderman said Thursday he is “deeply
troubled” President-elect Donald Trump is reportedly considering
weakening laws that allow states to go after banking and financial
fraud. The so …
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New York Attorney General Eric Schneiderman urges Donald Trump to preserve state's bank fraud law
New York Attorney General Eric Schneiderman is "deeply troubled" that President-elect Donald Trump is considering plans to weaken the state’s banking and financial fraud laws.
(Anthony DelMundo/New York Daily News)The so-called blue sky laws give states like New York the power to aggressively investigate separately from federal regulators.
Fox Business has reported that Trump’s transition team is discussing developing legislation to supercede state laws like New York’s powerful Martin Act.
Schneiderman warned that “any attempt to gut these consumer and investor protections would severely undercut state police powers and only embolden those who seek to defraud and exploit everyday Americans.”
Donald Trump attempting to delay Trump University fraud trial
Fox Business has reported that Donald Trump is considering plans to adjust New York’s powerful Martin Act.
(Evan Vucci/AP)“At a time of regulatory uncertainty at the federal level, it is essential that we maintain the very laws that have helped state and local law enforcement keep consumers and investors safe for over 100 years,” he said.
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