News & Analysis as of

NYDFS Enforcement Authority

Goodwin

New York Seeks to Expand Consumer Protections by Proposing New Legislation and by Increasing Recruitment at its Department of...

Goodwin on

As we recently reported, there have been rollbacks of consumer protections on the federal level, including the curtailing of enforcement activity at the CFPB. ...more

Carlton Fields

New Enforcement Powers for NYDFS? More Sanctions and More Defendants

Carlton Fields on

Legislation proposed as part of Gov. Andrew Cuomo’s executive budget for 2021 would substantially expand the enforcement powers of the superintendent of the New York State Department of Financial Services, as well as the...more

ArentFox Schiff

California’s ‘Mini-CFPB’—Gov. Newsom’s Budget Proposal Forecasts Significant Expansion of Consumer Financial Services Oversight...

ArentFox Schiff on

California is poised to join the growing cadre of states enhancing their consumer financial protection functions in response to perceived decreasing federal oversight and enforcement under the Trump administration. Following...more

WilmerHale

Governor Cuomo Proposes Significant Expansion of Powers of New York Department of Financial Services

WilmerHale on

In legislative language accompanying his proposed budget, New York Governor Andrew M. Cuomo proposes to significantly expand the powers of the New York Department of Financial Services (DFS), the state’s banking and insurance...more

Eversheds Sutherland (US) LLP

New York Governor Cuomo’s proposed budget bill bolsters DFS Superintendent’s fining authority

On January 21, New York Governor Andrew Cuomo released his Fiscal Year 2021 executive budget proposal for the State of New York. The budget includes proposed legislative that would increase the authority of the Superintendent...more

Goodwin

California and New York Propose to Expand Consumer Protections

Goodwin on

At the start of the new year, both California’s Governor Newson and New York’s Governor Cuomo proposed expansions to their respective state’s regulatory oversight of consumer financial services. Of particular note,...more

Ballard Spahr LLP

NYDFS announces creation of new Consumer Protection Task Force

Ballard Spahr LLP on

The New York Department of Financial Services has announced the creation of a new Consumer Protection Task Force within the NYDFS. ...more

Ballard Spahr LLP

NYDFS Creates New “Powerhouse” Consumer Protection and Financial Enforcement Division

Ballard Spahr LLP on

The New York Department of Financial Services has announced the creation of a new “powerhouse” Consumer Protection and Financial Enforcement Division. ...more

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