Skip to Content

NY.gov Portal State Agency Listing

Translate | Disclaimer

Annual Reports to the Governor and Legislature

Annual Report of the Department of Financial Services

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.

Annual Report - 2012 (PDF)

Annual Report - 2011 (PDF)

Annual Reports Archive

Banking Department Annual Reports Archive

Insurance Department Annual Reports Archive

Wild Card

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 that are available to the corresponding federally-chartered institutions, but not expressly authorized by the Banking Law.

Wild Card Report 2012 (PDF)

Wild Card Report 2011 (PDF)

Fraud

As required by Section 409 (b) of the Financial Services Law on the activities of the Financial Frauds and Consumer Protection Division (FFCPD), a division of the DFS created to more thoroughly uncover, investigate and eliminate the myriad financial frauds that may be perpetrated in New York state by consolidating the responsibilities of the insurance frauds bureau and the criminal investigations bureau that were previously administered by the former Departments of Insurance and Banking.

Annual Financial Fraud and Consumer Protection Division Report 2012 (PDF)

As required by Section 409 (c) of the Financial Services Law 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.

Holocaust Claims Processing Office

Section 37-a of the Banking Law requires the Superintendent report annually to the Governor and Legislature on the condition and activities of the 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 Demographics

Pursuant to Insurance Law section 214, the Superintendent collects 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.

Consumer Reports & Publications

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 and Consumer Guide to Automobile Insurance are required under Insurance Law 337.