NYDFS

The New York State Department of Financial Services says banks and credit unions under its supervision should limit loan concentrations in vulnerable geographic areas, avoid overexposure to fossil fuel and other legacy businesses and develop financial disclosures detailing climate-related risk.

The financial industry has praised the measured approach taken in a pending regulation on permitted communications with consumers. But two recent complaints by the bureau against debt collectors reflect a potentially aggressive enforcement stance.

Acting Comptroller of the Currency Brian Brooks and Department of Financial Services Superintendent Linda Lacewell stuck to opposing scripts on whether federal or state regulators are best equipped to protect consumers and supervise new entrants into the banking system.

In a sharp escalation of the battle over the future of the dual banking system, the acting chief of the Office of the Comptroller of the Currency suggested that states should defer to federal authority in supervising global money transmitters.

The Conference of State Bank Supervisors, banking law scholars and consumer advocacy organizations filed amicus briefs siding with the New York State Department of Financial Services in its court battle with the federal regulator.

The New York State Department of Financial Services issued a letter Tuesday reminding lenders of amendments to the state's Community Reinvestment Act, under which banks are evaluated on how they meet the credit needs of businesses owned by women and minorities.

The Department of Financial Services is going live with DFS FastForward, which aims to help innovators in finance, healthcare and insurance consult directly with regulators on specific compliance issues.

Popular’s branch in a Brooklyn neighborhood faced an uncertain future until it was designated as a bank development district. Now it’s eligible to receive millions of dollars in municipal deposits.

In another sign of state officials trying to outdo the Consumer Financial Protection Bureau, governors in California and New York want greater authority to license and oversee the debt collection industry.

In another sign of state officials trying to outdo the Consumer Financial Protection Bureau, governors in California and New York want greater authority to license and oversee the debt collection industry.

With fintech firms seemingly stuck in neutral in their efforts to gain banking charters, alternative state licensing options could get another look in 2020.

With fintech firms appearing stuck in neutral in their efforts to seek bank charters from federal regulatory agencies, observers say state licensing options could be in vogue again in 2020.

In October, U.S. District Judge Victor Marrero ruled against the OCC in a case brought by the New York State Department of Financial Services.

The online lender, which has received state approval to establish a virtual currency business, can now offer a full range of investment services — including trading in digital assets — in New York.

Former Comptroller Thomas Curry, who initially proposed the special charter now blocked by a judge, calls on policymakers to find another way to regulate financial tech startups.

Former Comptroller Thomas Curry, who initially proposed the special charter now blocked by a judge, calls on policymakers to find another way to regulate financial tech startups.

The New York State Department of Financial Services is opening a probe into Goldman Sachs' credit card practices after a viral tweet from a tech entrepreneur alleged gender discrimination in the new Apple Card's algorithms.

The judge sided with the New York State Department of Financial Services, which had sued the OCC over the proposed charter.

Linda Lacewell, New York’s superintendent of financial services, said the CFPB's debt collection proposal does not go far enough to protect consumers.

New York and 10 other states are looking into whether companies in the fast-growing sector are violating payday lending laws.