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Promontory Group, the prominent Washington, DC, bank adviser that agreed Tuesday to pay $15 million to settle breach-of-ethics allegations by New York state regulators, is known to be staffed with bigwig regulators, writes The Post’s Michelle Celarier.

First and foremost, it was founded by Gene Ludwig, the Comptroller of the Currency under President Clinton.

But one bigwig being overlooked is Elizabeth McCaul, the partner in charge of its New York office. McCaul is the former superintendent of banks of the New York State Banking Department — the precursor of the regulator that went after Promontory.

McCaul, appointed in 1999 by then-Gov. George Pataki after a decade at Goldman Sachs, ran the department until 2003. Following the financial crash, DFS was created by merging the banking and insurance regulators. One might think McCaul would know how to follow the rules of what was essentially her former employer.

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