The New York State Department of Financial Services (DFS), in a statewide consumer-protection enforcement update announced by Governor Kathy Hochul, reported that New York State agencies secured more than USD 237.7 million in consumer recoveries and restitution in 2025. DFS highlighted a record 51,000 consumer complaints resolved involving banks, insurance companies and other financial service providers. Complaint handling at DFS included direct work with consumers to resolve disputes, investigate claim denials and pursue accountability for financial institutions. The update also cited recoveries and penalties by other agencies, including USD 22.8 million returned to utility customers through complaint cases, USD 28.9 million in penalties against five utilities for failing to meet 2024 customer service standards, and USD 14.3 million secured from utility shareholders in enforcement proceedings. The New York State Department of Labor reported recovering more than USD 35 million in lost wages and collecting USD 2.2 million in penalties from wage theft-related cases involving more than 5,000 employers, supported by expanded powers in the enacted Fiscal Year 2025–2026 budget to issue warrants and seize financial assets to enforce unpaid wage theft orders. The New York Department of State’s Division of Consumer Protection returned nearly USD 2.7 million through its Consumer Assistance Program and collected more than USD 1.8 million in Do Not Call enforcement fines from settlements with 18 telemarketing companies, while the Governor’s Fiscal Year 2026–2027 proposed budget includes USD 5 million in new annual funding to support rural district attorneys in criminal wage theft investigations.
New York State Department of Financial Services 2026-04-23
New York State Department of Financial Services reports record 51,000 complaints resolved as New York agencies secure USD 237.7 million in 2025 consumer recoveries
The New York State Department of Financial Services reported that state agencies secured more than USD 237.7 million in consumer recoveries and restitution in 2025, including a record 51,000 consumer complaints resolved involving banks, insurers and other financial service providers. The update also highlighted enforcement actions by other agencies, including wage theft recoveries, penalties and expanded powers for the New York State Department of Labor, as well as consumer refunds and telemarketing enforcement by the New York Department of State’s Division of Consumer Protection.