The Department is proud to support the Governor and Legislature in advancing a budget that empowers New Yorkers and protects them from financial harm. This year’s budget expands the Department’s oversight of pharmacy benefit managers, middlemen that raise medical costs, and grants the Department new authority to regulate ‘Buy Now, Pay Later’ loans, ensuring consumers are protected in this growing space.  

Recognizing the challenges within New York's livery insurance market, the budget also includes initiatives aimed at stabilizing the for-hire vehicle insurance market so that drivers have more choices for quality, dependable coverage.  

The Department looks forward to implementing these proposals in service of our mission to build a more equitable, resilient, and inclusive financial system for all New Yorkers.