Latest Department of Financial Services Headlines
All the headlines from our Department of Financial Services Topic Page, ordered by recency.
Albanese to Exit as New York’s Financial Regulator Before End of Year
Oct 27 2015 // The acting head of New York’s Department of Financial Services will step down before the end of the year, giving New York Governor Andrew Cuomo a run at reshaping a regulator that has levied billions of dollars of...
Former New York DFS General Counsel Alter Joins itBit for Compliance Role
Sep 3 2015 // Bitcoin exchange itBit has hired Daniel Alter as the company’s new general counsel and chief compliance officer, the firm announced on Wednesday. Alter, who spent three years as general counsel to the New York State...
Florida Updates Neutral Evaluation Rules for Sinkhole Claim Disputes
Aug 6 2015 // Powered by InsuranceJournal.tv New rules changing the way disputed sinkhole claims are handled in Florida as part of the state’s Sinkhole Neutral Evaluation Program have been approved and took effect July 27. The...
Florida Governor Signs State Insurance Licensing, Workforce Development Bill
Jun 18 2015 // The Florida Association of Insurance Agents (FAIA) is celebrating the passage of House Bill 1133, a bill it sponsored in cooperation with the Florida Department of Financial Services. Passed overwhelmingly by Florida...
NYDFS Names Lawsky’s Chief of Staff Albanese as Acting Superintendent
Jun 15 2015 // Outgoing New York Superintendent of Financial Services Benjamin Lawsky said in a memo to his staff last Friday that his chief of staff, Anthony Albanese, will serve as acting superintendent while the Governor’s...
Florida Will Not Appeal Decision Favoring Deloitte in Poe Financial Collapse
Jun 1 2015 // The Florida Department of Financial Services (DFS) will not appeal the recent jury decision that found Deloitte & Touche not liable in the insolvency of Tampa-based Poe Financial Group following the unprecedented...
Florida Will Not Appeal Decision Favoring Deloitte in Poe Financial Collapse
May 12 2015 // The Florida Department of Financial Services (DFS) will not appeal the recent jury decision that found Deloitte & Touche not liable in the insolvency of Tampa-based Poe Financial Group following the unprecedented...
N.Y. DFS Eyes Insurers’ Cybersecurity, Price Optimization
Apr 6 2015 // New York state regulators recently sent a letter to insurers operating in the state, seeking detailed information on their cybersecurity measures. Benjamin Lawsky, superintendent of the New York Department of Financial...
New York DFS Opens Inquiry Into Price Optimization
Mar 20 2015 // The New York Department of Financial Services (DFS) on March 18 sent out letters to hundreds of property/casualty insurers operating in the state, seeking information concerning price optimization. New York joins a growing...
N.Y.’s Lawsky: Cybersecurity Likely Most Important Issue DFS Will Face in 2015
Feb 26 2015 // Cybersecurity is likely the most important issue that the New York Department of Financial Services (DFS) will face in 2015, and perhaps for many years to come after that, New York Financial Services Superintendent...
N.Y. Announces New, Targeted Cybersecurity Assessments for Insurers
Feb 9 2015 // New York State Department of Financial Services (DFS) today released a report on cybersecurity in the New York insurance industry and announced a series of measures that DFS will take to help strengthen cyber hacking...
New York DFS Requires Ocwen Reforms, $150M Homeowner Help
Dec 23 2014 // New York financial regulators have reached a settlement with Ocwen Financial Corp. requiring the nation’s largest subprime mortgage servicer to reform its practices and provide $150 million to help struggling New...
New York DFS Announces New Cybersecurity Assessment Process for Banks
Dec 10 2014 // New York’s Financial Services Superintendent Benjamin Lawsky today issued an industry guidance letter to all New York Department of Financial Services (DFS)-regulated banks announcing the department’s new,...
New York DFS Superintendent Lawsky Leaving After $3B in Fines Makes Mark
Nov 19 2014 // When Ocwen Financial Corp. shares soared on the news that regulator Benjamin Lawsky, who’s probing the company, will step down, Bill Miller shrugged. The next head of New York’s Department of Financial Services...
New York DFS Superintendent Lawsky Considering 2015 Exit Plan
Nov 11 2014 // New York’s top banking regulator Benjamin Lawsky, who used his leverage to stiffen penalties against some of the world’s largest financial institutions, will probably step down next year to take a job in the...
AIG Pays $35M Penalty to Resolve Probe of Units Sold to MetLife
Nov 2 2014 // American International Group Inc. agreed to pay a $35 million penalty to resolve a New York State probe into unlicensed insurance sales by former units. The subsidiaries, American Life Insurance Co. and Delaware American...
N.Y. DFS Disapproves NYCIRB’s +6.8% Loss Cost Level Change Filing
Jul 17 2014 // The New York Compensation Insurance Rating Board (NYCIRB) announced in a bulletin yesterday that the New York Department of Financial Services (DFS) issued an opinion and decision letter disapproving the +6.8 percent...
N.Y. Encourages Auto Insurers to Adopt Telematics Programs
Jun 16 2014 // New York’s Department of Financial Services (DFS) issued a bulletin on May 27 to all New York auto insurers encouraging them to adopt “usage-based insurance” (UBI) programs. Under these voluntary...
N.Y. Seeks More Rules for Investment Firms’ Buys of Insurers
Jun 2 2014 // The New York Department of Financial Services (DFS) has proposed new regulations to oversee private equity and investment firms’ acquisitions of insurance companies, especially acquisitions of annuity companies, in...
N.Y. Orders Narragansett Bay Insurance to Pay $327,400 Fine
May 29 2014 // New York Gov. Andrew Cuomo’s administration announced today that Narragansett Bay Insurance Company will pay a $327,400 penalty for failing to perform timely inspections of Superstorm Sandy damage claims as required...
