NYDFS

NY Hopes to Offset Trump’s ‘Aggressive Regulatory Reduction’
NY Hopes to Offset Trump’s ‘Aggressive Regulatory Reduction’
December 26, 2024  |  Bank Regulation

New York is reportedly tightening its financial scrutiny as Donald Trump returns to office.  With the incoming President Trump planning to roll back financial regulations,...

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Geico and Travelers Fined $11.3 Million for NY Data Breaches 
Geico and Travelers Fined $11.3 Million for NY Data Breaches 
November 25, 2024  |  News

New York state has penalized two auto insurance giants for failing to secure customer data. Geico and Travelers will pay a combined $11.3 million in...

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NYDFS Issues Guidance for Insurance Companies’ Use of AI
NYDFS Issues Guidance for Insurance Companies’ Use of AI
July 11, 2024  |  Insurance

Insurers’ use of artificial intelligence (AI) must not discriminate against consumers, New York State Department of Financial Services (DFS) Superintendent Adrienne A. Harris said Thursday...

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Stablecoin Issuer Paxos Lays Off 65 Employees
Stablecoin Issuer Paxos Lays Off 65 Employees
June 12, 2024  |  Cryptocurrency

Stablecoin issuer Paxos has laid off 65 people, amounting to about 20% of its workforce. These cuts come at a time when the company is...

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NYDFS Superintendent Harris Hails Court Approval of Check Cashing Regulation
NYDFS Superintendent Harris Hails Court Approval of Check Cashing Regulation
December 07, 2023  |  Regulation

New York Department of Financial Services (NYDFS) Superintendent Adrienne A. Harris has hailed a Thursday (Dec. 7) court decision that upholds the state’s new check cashing regulation announced in January....

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NYDFS Issues Rules for Virtual Currency Listing and Delisting
NYDFS Issues Rules for Virtual Currency Listing and Delisting
November 15, 2023  |  Cryptocurrency

New York State’s financial watchdog has updated its rules for listing/delisting virtual currency.  The New York State Department of Financial Services (NYDFS) on Wednesday (Nov. 15)...

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NY Regulator Wants to Rein in ‘Abusive’ Prescription Drug Pricing
NY Regulator Wants to Rein in ‘Abusive’ Prescription Drug Pricing
August 16, 2023  |  Regulation

New York’s financial regulator wants to regulate the companies that help set prescription drug costs. The New York Department of Financial Services (NYDFS) announced Wednesday...

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US Lawmakers Debate Dueling Stablecoin Bill Drafts
US Lawmakers Debate Dueling Stablecoin Bill Drafts
May 18, 2023  |  Regulation

U.S. lawmakers faced off Thursday (May 18) over two proposed stablecoin bills. Both bills under consideration would allow both banks and non-banks to issue stablecoins. It was...

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SEC and NYDFS Heat Puts Binance-Branded Paxos Stablecoin on Ice 
SEC and NYDFS Heat Puts Binance-Branded Paxos Stablecoin on Ice 
February 13, 2023  |  Cryptocurrency

The U.S. Securities and Exchange Commission (SEC) is doubling down on its regulation-by-enforcement approach. It is also getting a little local help from the New...

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