DFS creates task force to implement Cuomo’s consumer protection proposals


The creation of a Consumer Protection Task Force to assist with the implementation of consumer protection proposals outlined during Gov. Andrew Cuomo’s 2020 State of the State address last week was announced by the Department of Financial Services on Jan. 9.

DFS Superintendent Linda A. Lacewell said in a press release that task force priorities will include strengthening regulatory oversight of debt collectors, cracking down on elder financial abuse, increasing access to affordable banking services and strengthening the state’s consumer protection laws to guard New Yorkers against “unfair, deceptive, and abusive” practices.

“Consumers are at the center of all that we do, and this task force will ensure that consumers always come first as the Department develops policies and regulates the financial services industry,” stated Lacewell in the release.

Task force members were selected based on their experience and expertise in the areas of economic justice, housing, health and debt collection and advocacy on behalf of communities throughout New York, according to the release. The members were appointed to three-year terms by Lacewell and do not receive compensation.

The full press release can be viewed on the Department of Financial Services website.

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