In June of 1997, Governor George E. Pataki acted on the suggestions of former Superintendent of Banks Neil Levin and created an office with the sole purpose of assisting Holocaust survivors and their heirs in recovering assets wrongfully held by Swiss banks. The result was the establishment of the Holocaust Claims Processing Office (HCPO). Never before had a government office existed solely to assist Holocaust survivors and their heirs recover assets. The mission of the Office expanded quickly to include accepting Holocaust-era claims against European banks, claims against insurance companies on unpaid policies and claims seeking the recovery of lost or looted art. The Office accepts claims from anywhere in the world, and there are no fees for its services.

Since the Office's inception, it has responded to approximately 9,400 inquiries resulting in 4,720 claims from 45 states and 34 countries. As of 2001, 2,300 are bank claims, 2,300 are insurance claims, and 120 are art claims.

The HCPO staff are experts in banking, law, economics, finance, political science, archives, history, and art history. In addition, the staff is fluent in multiple languages to better serve their international claimants.

In the year 2001 alone, the Office helped recover approximately $3.5 million in offers to claimants seeking proceeds from Holocaust-era insurance policies. It also approached a $1 million mark in offers to claimants seeking return of Holocaust-era bank accounts.

Perhaps one of its most notable accomplishments for 2001 was the recovery and return of three paintings to the Littman heirs, one of the very first claimants to file a claim with the HCPO shortly after it opened.