
Department of Financial Services Returned $228 million to Consumers and Health Care Providers
Department of Public Service and Department of State Helped More Than 71,000 New Yorkers With Complaints in 2024, Collecting an Additional $17.3 Million for Consumers
State Agencies Detail How They Directly Assist Consumers; Release Top Five Categories of Consumer Protection Complaints Received in 2024
Builds on Governor Hochul’s Ongoing Efforts To Strengthen Consumer Protections, Including Suite of Proposals in FY26 Executive Budget
New Yorkers Can File a Complaint on the DFS Website
In honor of National Consumer Protection Week, Governor Kathy Hochul today announced that the New York State Department of Financial Services, Department of Public Service and the New York Department of State’s Division of Consumer Protection secured more than $245 million in recoveries and restitution for New Yorkers in 2024. This builds on efforts by the Department of Public Service and the New York Department of State’s Division of Consumer Protection, which assisted 71,000 New York households with a variety of consumer protection matters, returning $17.3 million to consumers in 2024, up more than 78 percent from $9.7 million in 2023. These efforts reflect the Governor’s ongoing commitment to consumer protection and affordability, including strengthening oversight of financial products, cracking down on predatory fees and ensuring transparency in emerging lending models. Governor Hochul also proposed a suite of consumer protection items in her State of the State and FY26 Executive Budget that seek to protect consumers shopping online, crack down on exploitative practices and regulate emerging industries.
“The federal government may be taking aim at consumer protection regulations, but New York State is doubling down — recovering more than $245 million in 2024,” Governor Hochul said. “I’m fighting to put more money in New Yorkers’ pockets, and that means taking a hard line against fraud, deception and predatory pricing practices that make it harder for families to get by.”
New York State Department of Financial Services (DFS)
DFS’s Consumer Assistance Unit (CAU) plays a critical role in protecting New Yorkers, addressing more than 46,000 complaints in 2024 alone. The CAU works directly with consumers to resolve disputes, investigate claim denials and hold financial institutions accountable. New Yorkers who need assistance with disputes involving banks, insurance companies or other financial service providers can visit dfs.ny.gov/complaint or call (800) 342-3736.
As financial services rapidly change, Governor Hochul is ensuring consumer protections keep pace with innovation. This includes addressing emerging risks in Buy Now, Pay Later (BNPL) programs and unfair overdraft fees, both of which are key priorities of her FY26 Executive Budget.
BNPL services have surged in popularity, with U.S. consumers spending $18.2 billion through these programs during the 2024 holiday season. While they offer flexibility, they often lack clear repayment terms and consumer protections found in traditional credit products. To close these gaps, Governor Hochul’s FY26 Executive Budget advances measures to bring BNPL providers under proper oversight by DFS, ensuring transparency and fair lending practices.
At the same time, DFS recently proposed new regulations to curb unfair overdraft fees. These regulations, which align with the Governor’s broader consumer protection agenda, would ensure that consumers aren’t charged for minor transactions and receive timely notifications to improve transparency and fairness in banking.
New York State Department of State (DOS)
The New York State Division of Consumer Protection provides education, advocacy and mediation services to help consumers make informed decisions and protect themselves from fraud and unfair business practices.
DOS assisted nearly 29,000 New York households with a variety of marketplace disputes, returning more than $2.3 million to consumers. In addition, DOS’s Do Not Call investigation and enforcement work resulted in settlements with seven telemarketing companies and the collection of nearly $1.2 million in fines in 2024, and it advanced cost effective and quality electric, gas, telephone and cable service by representing consumers at 23 utility rate and policy proceedings before State and federal regulators.
The top five categories of consumer complaints received by DOS in 2024:
- Refunds/Store Policy: Complaints related to refunds and store policies, including return policies, restocking fees and refunds for damaged goods.
- Orders/Deliveries: Complaints related to the order and delivery of goods purchased, including missing items, incorrect items received, late or delayed delivery or items never shipped.
- Merchandise/Product: Complaints related to merchandise or products that did not meet consumers' expectations.
- Credit Cards: Complaints related to erroneous charges, billing, card benefits and illegal surcharges.
- Travel: Complaints related to travel and tour reservations, travel agents, accommodations and lodging, and transportation including airlines, cruises and rental cars.
As part of this year's State of the State, Governor Hochul proposed legislation to require retail sellers to offer a minimum 30-day return window for various products unless otherwise specified. Additionally, Governor Hochul proposed first-in-the-nation legislation that requires businesses to notify online shoppers when prices are set based on their personal data. To further protect consumers, Governor Hochul proposed additional legislation to ensure cancellation processes are simple, transparent and fair, ensuring that it is just as easy to cancel a subscription as it was to sign up.
The DOS Division of Consumer Protection's mission is to assist, protect, educate and represent consumers in an ever-changing economy. The Division of Consumer Protection works hard to assist individuals aggrieved in the marketplace through its complaint mediation efforts, along with educating the public on marketplace scams, and advocating consumers' interest before legislative and regulatory bodies.
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