Orgs with Common People
Leadership and staff of NYS Department of Financial Services also have positions in these orgs
created in 2011 through merger of NYS Banking & Insurance Depts.
The legislation that created the Department of Financial Services, known as the Financial Services Law, was introduced as part of Governor Andrew M. Cuomo’s 2011 budget. The Governor's purpose in consolidating these two agencies and creating the Department of Financial Services or DFS is to modernize regulation by allowing the agency to oversee a broader array of financial products and services, rather than the previous system of limiting regulation to services provided by only certain types of institutions. As of October 3, 2011 the New York State Banking Department and the New York State Insurance Department are abolished and the functions and authority of both former agencies transferred to the New York State Department of Financial Services.
Updated about 1 year ago
Basic Info
| Types | Organization, Government Body |
| Aliases | NYS DFS, New York State Banking Department, New York State Insurance Department |