City Councilmember David Weprin, a candidate for New York City Comptroller, detailed his qualifications for the position while addressing North Shore Towers residents on Tuesday, August 18.
“Not everyone necessarily knows my background and how suited I am specifically for the office of comptroller,” said Weprin, whose mother lives at the Towers.
Weprin said that he served in Governor Mario Cuomo’s administration as the Deputy Superintendent of Banking for New York State. In that position, he was involved in getting new consumer regulations adopted. He also regulated commercial banks, savings banks, savings and loans, credit unions, licensed lenders, credit unions and assets.
In addition, Weprin spent 20 years working in investment banking in public finance, where he underwrote municipal bonds for healthcare institutions, colleges and universities and public housing.
Weprin was elected to the City Council in 2001 and was selected to chair the Finance Committee.
“You can add it all together and it makes me even more well-qualified to be comptroller,” Weprin said. “But that’s not enough. What I’d like to do is do a couple of new things that haven’t been done before.”
Weprin said that he wants to “bring the comptroller’s office to the people” by opening a consumer office in each borough. Currently there is only one in Manhattan. He said that these offices would be consumer-oriented and would deal with financial literacy, consumer banking, predatory lending, mortgage foreclosures, pensions and contract issues.
If elected comptroller, Weprin said that he would do more outside audits of outside contracting, which accounts for $6 billion of the city’s budget.
While talking about the relationship he has had with North Shore Towers, Weprin pointed out that, when the Towers was charged more than a million dollars for back electricity taxes, he helped negotiate it down to less than $100,000 and also passed a bill to eliminate the tax going forward.
Before the question and answer period began, Board President Bob Ricken explained that Weprin also recently helped the Towers with a problem they were having with their taxes and was able to get it reduced. Ricken said that this “will have a significant effect on our maintenance next year.”
One resident questioned Weprin about North Shore Towers being underserved by mass transit. Weprin said that he would look into the situation and speak with the MTA and Department of Transportation to see if express bus service could be expanded.
“When you take that express bus you’re helping the economy. You’re spending money, you’re going place, you’re basically an economic engine,” Weprin said. “There’s no question we need the express buses. They’re our lifeline to the mainland, so to speak.”
Another resident asked about individuals “double-dipping,” where they retire and begin to draw a pension but then go back to work.
“I think we have to look at that,” Weprin said. “I think there are a lot of abuses.”
