NEW YORK, NYPosted a month ago

Company overview

The New York State Department of Financial Services (NYDFS) is a regulatory body that supervises and regulates financial services and products in New York State, including insurance companies, banks, and other financial institutions. Established in 2011 through the merger of the New York State Banking Department and the New York State Insurance Department, NYDFS aims to ensure the safety and soundness of these institutions, protect consumers, and promote the stability of the financial system. The department generates revenue through licensing fees, assessments on regulated entities, and fines for regulatory violations. Key initiatives include cybersecurity regulations, financial inclusion, and consumer protection measures.