NYDFS Launches New “Powerhouse” Consumer Protection and Enforcement Division

On Monday, the New York Department of Financial Services (NYDFS) announced its newly created Consumer Protection and Financial Enforcement Division. NYDFS’s Acting Superintendent Linda Lacewell describes the new division as “a powerhouse.”

The new division is described as follows:

DFS’s Consumer Protection and Financial Enforcement Division is responsible for protecting and educating consumers and fighting consumer fraud, as well as ensuring that regulated entities comply with New York and federal law in relation to their activities serving the public. It is also responsible for developing investigative leads and intelligence in furtherance of the Department’s efforts to enforce the Banking, Insurance and Financial Services laws, with particular focus on the review and response to cybersecurity events and the development of supervisory, regulatory and enforcement policy and direction in the area of financial crimes. Consumer Protection and Financial Enforcement encompasses the Enforcement Division; Investigations and Intelligence Division; Civil Investigations Unit; the Producers Unit; the Consumer Examinations Unit; the Student Protection Unit; and the Holocaust Claims Processing Office. 

View this content by subscribing

Please register to unlock this content

I already have an account. Log in