The Department of Financial Services
The New York State Department of Financial Services was created by transferring the functions of the New York State Banking Department and the New York State Insurance Department into a new department. This tranfer of functions became official on October 3, 2011.
Mission & Leadership
Read our mission statement, our mandate and learn more about the leadership of the Department.
History
Learn more about the history of the DFS and its roots in the history of financial regulation in New York.
News Room
Visit the News Room to read the latest speeches, testimony and press releases, or learn about public hearings and events.
Who We Supervise
Learn about the types of institutions that we supervise and learn how to search for a particular entity, location or branch.
Careers with DFS
Learn about the positions that we currently have open at DFS and the jobs for which we continually accept applications.
Contact Us
Learn how to contact us with a general inquiry or a FOIL request, file a complaint, submit a media request, etc.
Unique Undertakings of the Department of Financial Services
Banking Development District (BDD) Program
The Banking Development District program was created to encourage the establishment of bank branches in areas with a demonstrated need for banking services, with the goals of stimulating local economies and helping more New Yorkers enter the financial mainstream. In the program, banks partner with local governments to establish a BDD in an under-banked neighborhood, and, once approved by the Department, are eligible to receive municipal deposits from the State and pay below-market interest rates .
Captive Insurance
In New York State, Captive legislation further encourages business development by allowing companies greater options to safely manage risk. The DFS provides a fully dedicated Captive Group, providing legal, financial and capital market expertise for companies and streamlined licensing procedures within the Department to ensure efficient incorporation and licensing of captives.
Holocaust Claims Processing Office
The HCPO is the only government entity in the world that provides assistance free of charge to Holocaust victims and their heirs, regardless of their residence, to recover assets deposited in banks, monies that insurance companies failed to pay policy beneficiaries, and artwork that was lost, stolen, or sold under duress between 1933 and 1945.
Liquidation Bureau
The New York Liquidation Bureau, located in New York City, a separate office under the jurisdiction of the Superintendent of Financial Services, is charged with rehabilitating or liquidating insurance companies.
