March 8, 2023
SUPERINTENDENT ADRIENNE A. HARRIS ANNOUNCES DFS SECURES MORE THAN $157.4 MILLION TO CONSUMERS & HEALTH PROVIDERS IN 2022
New Yorkers can get free assistance with their financial services issues at www.dfs.ny.gov/complaint
Marking National Consumer Protection Week this year, Superintendent of Financial Services Adrienne A. Harris announced the New York State Department of Financial Services (DFS) recovered more than $124.5 million in 2022 for consumers and healthcare providers who filed complaints with the Department, as well as $32.9 million in restitution in addition to penalties collected from DFS enforcement and supervisory actions against financial institutions and service providers. DFS processed more than 43,000 complaints against insurance companies, banks, and other financial institutions for issues such as student loan servicing, debt collection, and property foreclosure. New Yorkers can seek help regarding financial issues and disputes in 11 languages at www.dfs.ny.gov/complaint or by calling (800) 342-3736.
“DFS works tirelessly to help hard working New Yorkers get the justice they deserve, and I am proud that last year we put $157.4 million back in their pockets,” said Superintendent Harris. “As we mark National Consumer Protection Week, New Yorkers should know that DFS is here to help them and will work for them every day to forge a fairer and more resilient financial system.”
DFS’s Consumer Assistance Unit (CAU) receives and helps to resolve consumer complaints and works with industry and the Department’s enforcement team to investigate and help correct patterns of abuse and fraud.
In 2022, CAU received more than 43,000 insurance and non-mortgage related banking complaints recovering $124.5 million for consumers and health providers.
This is in addition to $32.9 million put back in New Yorkers’ pockets as a result of DFS enforcement and supervisory actions against financial institutions and service providers for violating laws and regulations or committing fraud.
On the DFS website, New Yorkers can find resources on a number of topics including disaster recovery; fraud and cyber protection; student loans; and COVID-19-related health insurance information. For assistance regarding disputes with banks, insurance companies, and other financial service providers, visit www.dfs.ny.gov/complaint or by calling (800) 342-3736.