Florida’s Financial Regulation Commissioner is Fired – NMP Skip to main content

Florida’s Financial Regulation Commissioner is Fired

Jul 26, 2019
Photo credit: Getty Images/Allexxandar

The Florida Cabinet has fired Financial Regulation Commissioner Ronald Rubin following the issuance of a report stating he misused his public office and subjected women to sexual harassment.
 
According to an Associated Press report, Rubin was appointed in February and was responsible for the oversight of Florida’s financial services sector. He was suspended from his job in May and was accused of inappropriate behavior aimed at female employees and inappropriate comments on gays and Muslims. Last week, a report was released by the Office of Financial Regulation’s inspector general that detailed the accusations against Rubin.
 
In the period leading up to his dismissal, Rubin had been in a public feud Florida’s Chief Financial Officer Jimmy Patronis, with Rubin accusing Patronis of blackmail, “pay-to-play” corruption and using the “Me Too” movement for his political gain. However, Gov. Ron DeSantis, who voted for Rubin’s ouster, defending the termination of his job.
 
“The bottom line is, I think there was clearly poor conduct and below the standards that we should expect,” DeSantis said.

 
About the author
Published
Jul 26, 2019
UAD 3.6 Deadline Nears; First American Earns Verification

First American's ACI Sky Workbench gains verification ahead of the Nov. 2 implementation date for the GSEs' updated appraisal reporting requirements

MISMO Introduces New Loan Boarding Standard

Wrapper Files support standardized data transfers between origination and servicing systems, with potential savings of $60 to $160 per loan

The GLBA Compliance Gap Your AI Deployment Just Opened

Old statutes, new models, and the vendor contract you signed before machine learning became operational

FHA Keeps Tri-Merge Credit Reports While Expanding Approved Scoring Models

HUD says FHA lenders will continue using three-bureau credit reports even as the agency adopts newer scoring models aimed at increasing competition and modernizing mortgage underwriting

House Passes Amended 21st Century Road To Housing Act

The House version softens a controversial provision aimed at large institutional investors

New York Cash-Home Tax Proposal Could Push Wealthy Buyers Back Into Mortgages

As all-cash deals surge nationwide, a proposed 1% levy on $1M+ purchases in NY may reshape jumbo lending, borrower strategy, and origination opportunities