New York State Department of Financial Services

In the two years since Superintendent Adrienne A. Harris was confirmed by the Legislature, NYDFS has achieved record milestones for the people of New York. NYDFS has implemented 100 new amendments to the #insurance, #banking, and financial services laws; issued more than 60 pieces of guidance; and promulgated 31 new data-driven regulations. During this time, the Department has also secured $344.4 million in restitution for New York State consumers and health care providers.   Under the direction of Superintendent Harris, the team at DFS has amended nation-leading #cybersecurity regulations, advanced policies to protect health insurance policyholders, create fairer check-cashing regulations, combat life insurance discrimination, strengthen virtual currency oversight, and address #climate risk in financial services. These milestones, among many more, are representative of DFS’s commitment to create a more equitable financial system for all New Yorkers. None of these accomplishments would be made possible without DFS’s dedicated staff, which is why the Superintendent is committed to attracting, retaining, and supporting expert talent. Since January 2022, the Department has hired and promoted more than 600 teammates. If you are interested in joining our team, click here: www.dfs.ny.gov/careers #careers #hiring

#DidYouKnow: New York State-regulated banking institutions are required to offer low-fee bank accounts that meet specific criteria, called “basic banking” accounts. Discover more about low-fee options, including products available in communities across the state, at https://lnkd.in/exrUNNng and share this post with your network to spread the word.

DFS is hiring Financial Services Examiner Trainees for divisions across the Department, including in Banking, Insurance, Virtual Currency, and Cybersecurity. These traineeships are part of the NYS HELPS Program, which means no Civil Service examination is required for qualified candidates. Under Superintendent Adrienne A. Harris, DFS has hired 139 Financial Services Examiners, including the first class since 2018. Take the first step toward starting a career as a Financial Services Examiner at DFS: https://lnkd.in/eeWZuVPZ

The newly released 2024 Starling Compendium features an "In Focus" interview with DFS Superintendent Adrienne A. Harris.   In this comprehensive piece, Superintendent Harris discusses the Department's commitment to innovation, both internally with the adoption of supervisory technology and externally with DFS's work to ensure regulated entities can utilize the value of AI while minimizing the inherent risks. Read the feature at https://lnkd.in/eWnQEkYM.

After many years, the New York State Department of Financial Services was granted the authority to oversee PBMs thanks to Governor Hochul and the Legislature. We got right to work licensing and examining PBMs, and working on robust market conduct regulations. Our oversight is essential to ensuring fairer prescription drug pricing and transparency in the industry. With this authority, we can protect consumers and prevent anti-competitive practices within the pharmaceutical industry. #financialregulation #consumerprotection #prescriptiondrugs #healthcare

DFS is seeking candidates for the Assistant Director, Financial Services Frauds Bureau, within the Consumer Protection and Financial Enforcement Division (CPFED). Find out more about this opportunity and apply today at www.dfs.ny.gov/careers. #JoinDFS

Last week, DFS issued new guidance prohibiting insurers from making coverage decisions based on a property’s status as an affordable housing development or based on the level or source of a tenant’s income within the building. This is a pivotal step towards establishing fairness in the housing market and ensuring New York’s affordable housing providers are not discriminated against. The guidance builds on the New York State Department of Financial Services’ work to advance our mission of creating a more equitable financial services system. https://on.ny.gov/3VYLKek #financialregulation #consumerprotection #insurance #affordablehousing

National Insurance Awareness Day serves as an opportunity for everyone to review their insurance policies, assess their current coverage needs, and ensure they have the appropriate protections in place against unforeseen events and losses. DFS has information on auto, life, and home insurance on our site: https://lnkd.in/ed7zt6Fz

Under Superintendent Adrienne A. Harris, DFS remains committed to ongoing engagement with regulated entities. This week, Rajesh Bhandula, Polly Klyce Pennoyer, Samantha Darche, and Steven Spalten attended New York Credit Union Association's Supervision and Compliance Seminar to connect with New York State's credit unions on important policy guidance and initiatives, including DFS's climate guidance, character and fitness guidance, Banking Developing District program, and modernization initiative. 

June is recognized as National Homeownership Month, a time to celebrate the benefits that homeownership brings to families, neighborhoods, and communities across America. DFS has educational resources to help individuals and families make informed decisions when purchasing a home. More here: https://lnkd.in/ecMfUUSC