09/11/2026
August was another active month for DFS — protecting consumers, strengthening enforcement, and advancing strong, responsive oversight across New York’s financial system.
Here are some highlights you may have missed:
→ Cracked down on staged crashes, working alongside law enforcement partners on an investigation that resulted in sentences for fraud on NYC highways — advancing efforts to hold bad actors accountable and drive down auto insurance costs for New Yorkers.
→ Held institutions accountable through strong enforcement, securing a $250,000 cybersecurity penalty against Order Express and more than $15 million from NewRez to remediate the wrongful issuance of insurance.
→ Protected Holocaust survivors and their families, coordinating across state and federal agencies to address potential fraud and financial exploitation and connect consumers with trusted information and assistance.
→ Engaged with regulators from across the country, with Acting Superintendent Asrow and DFS leaders participating in the NAIC Summer Meeting to advance shared priorities around financial stability, market oversight, and emerging risks.
→ Shared DFS expertise at key industry forums, with Department leadership joining Chainalysis’ Trace DC to discuss New York’s nation-leading virtual currency framework and the role of modern oversight in combating illicit activity.
→ Invested in the next generation by welcoming Scholars for an inside look at financial regulation, careers in government, and the many ways public service can shape the future of financial services.
→ Preserved access to critical financial services, securing commitments from Western Union to maintain services for communities across New York following its acquisition of International Money Express.
→ Strengthened protections against surprise medical bills, introducing guidance and proposed regulations to improve New York’s Independent Dispute Resolution process and ensure it continues working effectively for consumers.
