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 on Mar 3rd, 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 Financial Services Superintendent Adrienne A. Harris said, “At DFS, protecting consumers is at the core of what we do. Recovering record amounts for New Yorkers each year reflects our commitment to ensuring fairness, transparency, and accountability in financial services.”

New York State Department of Public Service (DPS)

DPS fielded more than 42,000 consumer complaint calls, handled approximately 20,000 consumer inquiries and complaints, and returned nearly $13 million in utility consumer refunds, an increase of 75 percent from 2023.

In 2024, the Public Service Commission levied $23.5 million in financial penalties against five utilities for failing to meet 2023 customer service standards. The Commission also secured $115 million cumulatively from utility shareholders in enforcement proceedings against utilities that violated the Public Service Law, or regulations.

In this year’s State of the State, the Governor has proposed closing a loophole that does not obligate Energy Service Companies to return unclaimed funds to New Yorkers. Once enacted, this proposal will ensure New Yorkers are able to receive every penny owed to them.

The DPS Office of Consumer Services monitors the number and types of complaints received against all utilities operating in New York State to ensure that utilities fulfill their obligation to provide effective customer service in compliance with the laws, rules, regulations and policies. Each month, the Office makes public a detailed overview of complaint activity and utility responsiveness that is informative to both consumers and utility companies (visit dps.ny.gov and search for matter no. 19-00950).

New York State Public Service Commission Chair Rory M. Christian said, “The PSC and Department of Public Service are committed to protecting New Yorkers by ensuring all industries we regulate are in full compliance with consumer protection laws and regulations. Inaccurate utility billing can lead to significant customer overcharges, which the Department works to get refunded back to affected customers.”

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:

1. Refunds/Store Policy: Complaints related to refunds and store policies, including return policies, restocking fees and refunds for damaged goods.
2. 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.
3. Merchandise/Product: Complaints related to merchandise or products that did not meet consumers' expectations.
4. Credit Cards: Complaints related to erroneous charges, billing, card benefits and illegal surcharges.
5. 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.

New York State Secretary of State Walter T. Mosley said, “The Department of State’s Division of Consumer Protection is proud to have helped return over $2.3 million to New Yorkers and will continue to protect consumers from deceptive and dangerous business practices in goods and services. We’re working every day to educate the public about the latest scams, how to shop smart to protect their money and stay informed of their rights in order to create a more economically affordable and equitable New York.”

Through these initiatives, Governor Hochul reaffirms her commitment to empowering and protecting New Yorkers, ensuring a fair, transparent and secure financial marketplace for all.

For free consumer assistance, visit dos.ny.gov/consumer-protection or call the Consumer Assistance Helpline at (800) 697-1220.

State Senator Rachel May said, “Our Department of Financial Services has recovered millions of dollars for consumers, demonstrating our commitment to protecting New Yorkers from scams. I want to thank Governor Hochul for her dedication to preventing exploitation in the marketplace. As chair of the Consumer Protection Committee, I share this commitment and will work to promote a fair economy where consumers get what they pay for and where bad actors are held accountable.”

Assemblymember Nily Rozic said, “Returning over $245 million to consumers and health care providers is a critical step in protecting New Yorkers from financial harm. Unfair fees and predatory practices create real barriers to financial stability, making it harder for people to get ahead or even stay afloat. By ensuring fairness and transparency, these efforts will help ease that burden and build a stronger, more equitable financial system.”