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To reform the regulation of financial services in New York to keep pace with the rapid and dynamic evolution of these industries, to guard against financial crises and to protect consumers and markets from fraud.


The Superintendent, in order to better supervise financial products and services, including those subject to the provisions of the Insurance Law and the Banking Law may take any actions necessary to:


Maria T. Vullo, Superintendent of Financial Services

The State Charter Advisory Board

The State Charter Advisory Board works with the Superintendent in retaining state chartered banking institutions, encouraging federally chartered institutions to convert to a state charter and promoting the state banking system. There are nine members of the advisory board, consisting of one representative of credit unions, one representative of consumers, one representative of foreign banks; and representatives of banks reflecting a range of assets, size and geographical location.

The superintendent governs the method by which state chartered institutions may nominate persons to the board and the process for selecting such members, provided that the representative of consumers is selected by the Superintendent.

The State Insurance Advisory Board

The State Insurance Advisory Board is charged with working with the Superintendent to further DFS’s goals as they relate to the insurance industry, There are 10 members of the advisory board, including seven representatives of domestic insurance companies, one insurance producer, and two consumer representatives. The board’s members, each appointed by the Superintendent to a three-year term, serve without compensation.

The following individuals will serve on the State Insurance Advisory Board for three-year terms, beginning in 2018:

Updated 12/12/2017

Department of Financial Services


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