January 25, 2018

Statement by DFS Superintendent Maria T. Vullo Regarding CFPB's Troublesome Policy Shift Away from Consumer Protection

"Since its founding, the CFPB has been a strong and vital partner with the New York State Department of Financial Services (DFS) and state regulators nationwide on many important consumer protection issues. I am disappointed by the new administration’s sudden policy shift, which is clearly intended to undermine necessary national financial services regulation and enforcement.  DFS remains committed to its mission to safeguard the financial services industry and protect New York consumers, and will continue to lead and take action to fill the increasing number of regulatory voids created by the federal government."