New York State Department of Financial Services

Regulators Blame Signature for Own Failure and Themselves for SVB’s
Regulators Blame Signature for Own Failure and Themselves for SVB’s
April 28, 2023  |  Banking

In a scathing self-assessment, the Federal Reserve’s autopsy on Silicon Valley Bank’s failure puts blame partially on its own doorstep, as regulator reports on Signature...

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Circle’s Troubles Could Stoke Demand for Regulation of Stablecoins
Circle’s Troubles Could Stoke Demand for Regulation of Stablecoins
March 13, 2023  |  Cryptocurrency

There could be greater demand for regulation of stablecoins after USDC briefly lost its dollar peg. Regulators had already been looking at stablecoins, and the...

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NYDFS Secures $157.4 Million in Recoveries and Penalties in 2022
NYDFS Secures $157.4 Million in Recoveries and Penalties in 2022
March 08, 2023  |  Regulation

The New York State Department of Financial Services (DFS) secured $157.4 million in 2022. That total includes $124.5 million recovered for consumers and healthcare providers...

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PayPal Pauses Stablecoin Project Amid Paxos Regulatory Scrutiny
PayPal Pauses Stablecoin Project Amid Paxos Regulatory Scrutiny
February 12, 2023  |  Cryptocurrency

PayPal is reportedly pausing its stablecoin project amid heightened scrutiny around the cryptocurrency industry. The payments company had wanted to unveil the stablecoin in the...

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Report: NYDFS Investigating Stablecoin Issuer Paxos Trust
Report: NYDFS Investigating Stablecoin Issuer Paxos Trust
February 10, 2023  |  Regulation

Paxos Trust is reportedly being investigated by the New York State Department of Financial Services (NYDFS). It is not known why the issuer of the...

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NY Regulator Warns Firms to Keep Customer Crypto Assets Separated
NY Regulator Warns Firms to Keep Customer Crypto Assets Separated
January 23, 2023  |  Regulation

New York’s financial watchdog is cautioning firms to segregate customers’ cryptocurrency assets from their own. The New York State Department of Financial Services (NYDFS) issued that warning Monday (Jan....

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NY Financial Services Superintendent Adrienne Harris Named to FSOC
NY Financial Services Superintendent Adrienne Harris Named to FSOC
December 13, 2022  |  Personnel

A new state banking representative will be serving on the Financial Stability Oversight Council (FSOC).  Adrienne A. Harris, superintendent of the New York State Department...

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In US First, NY Requires Stablecoins to Be Backed by Cash
In US First, NY Requires Stablecoins to Be Backed by Cash
June 08, 2022  |  Cryptocurrency

New York was the first state to put a regulatory framework in place for cryptocurrencies with its Bitlicense, and now it is doing the same...

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First American Title Accused Of Exposing Millions Of Customers’ Personal Data
First American Title Accused Of Exposing Millions Of Customers’ Personal Data
July 22, 2020  |  Security & Fraud

First American Title, one of the largest providers of title insurance in the U.S., is facing allegations that it exposed the personal data of millions...

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