Posted: 03.08.2011 at 11:45 AM

ALBANY -- The Governor’s executive budget calls for the consolidation of two major areas of State Government.

Paul Francis, who also heads up the Governor’s SAGE Commission on "rightsizing state government", took center stage at a Senate hearing on Agency mergers that are supposed to save taxpayers millions of dollars.

The merger making the big headlines is one that combines the Departments of Banking and Insurance with the Consumer Protection Board. The new super agency will be called the Department of Financial Regulation, which Francis says will save the State $1.5 million in its first year… and he's not expecting any layoffs…

Read more »