Annual Report to the Governor and Legislature
The Annual Report, as required by Article 2, Section 207 of the Financial Services Law is a review of the department's activities as well as developments in the financial services industry regulated by the department in the previous year.
- DFS Annual Report - 2019 (PDF)
Previous Years' Reports (including Banking Department and Insurance Department Annual Reports)
Annual Consumer Protection and Financial Enforcement Division Reports
As required by Section 409 (b) of the Financial Services Law, a report on the activities of the Department in the areas of Financial Fraud and Consumer Protection undertaken to more thoroughly uncover, investigate and eliminate financial fraud in New York state.
- Annual Consumer Protection and Financial Enforcement Division Report 2020 (PDF)
- Annual Consumer Protection and Financial Enforcement Division Report 2019 (PDF)
As required by Section 409 (c) of the Financial Services Law, a report summarizing the Department’s activities to investigate and combat health insurance fraud, including no-fault fraud, which totaled 85 percent of health insurance fraud reports and more than half of reports of fraud of all types.
Certain consumer reports are required to be compiled and made available to consumers annually. The Consumer Guide to Health Insurers is required under Insurance Law section 210 and the Automobile Complaint Ranking is required under Insurance Law 337.
Holocaust Claims Processing Office Report
Section 37-a of the Banking Law requires the Superintendent report annually to the Governor and Legislature on the condition and activities of the Department's Holocaust Claims Processing Office (HCPO). The report includes information on the operations and accomplishments of the HCPO as well as a schedule of expenses related to the recovery of properties belonging to Holocaust victim survivors.
Insurance Agent Licensing Exam Data and Demographics
Insurance Law section 214, requires that the Superintendent collect and report certain information from persons taking insurance agent licensing examinations. This information includes full name, address, gender, age, education level, race or ethnicity, and native language. The Department uses the information to produce a study including the total number of examinees, passing rate, and mean scores and examines the correlation between these items.
Long-Term Care Insurance
The Superintendent of Financial Services is required to make a biennial report to the Governor and the Legislature on the implementation of Chapter 245 of the Laws of 1986 regarding long term care insurance, including a description of the plans authorized to issue long term care insurance, factors contributing to or impeding the development of the enrollment in such plans, adequacy of consumer information in relation to long term care insurance coverage, and any other recommendations the Superintendent finds appropriate.
Wild Card Report
Section 12-a of the Banking Law, commonly referred to as the “Wild Card” section, is intended to maintain and enhance the appeal of the New York State banking charter. It authorizes the Superintendent of Financial Services to permit state-chartered banking organizations to exercise powers available to corresponding federally-chartered institutions, but not expressly authorized by the Banking Law.
- Wild Card Report 2019 (PDF)
Visit the Wild Card Activities page to see recent actions DFS has taken under Section 12-a of the Banking Law.