2012 New York Consolidated Laws
FIS - Financial Services Law
Article 1 - (101 - 104) GENERAL PROVISIONS
102 - Department of financial services.

 
    §  102.  Department  of  financial  services.  The  legislature hereby
  declares that  the  purpose  of  this  chapter  is  to  consolidate  the
  departments of insurance and banking, and provide for the enforcement of
  the  insurance,  banking and financial services laws, under the auspices
  of a single state agency to be known as  the  "department  of  financial
  services" and to accomplish goals including the following:
    (a)  To  encourage,  promote  and  assist banking, insurance and other
  financial services institutions to effectively and productively  locate,
  operate, employ, grow, remain, and expand in New York state;
    (b)  To  establish  a  modern  system  of  regulation, rule making and
  adjudication that  is  responsive  to  the  needs  of  the  banking  and
  insurance  industries  and  to  the  needs  of the state's consumers and
  residents;
    (c) To provide for the effective  and  efficient  enforcement  of  the
  banking and insurance laws;
    (d)  To  expand  the  attractiveness  and competitiveness of the state
  charter for banking institutions and to promote the conversion of  banks
  to such status;
    (e)  To  promote  and  provide  for  the  continued,  effective  state
  regulation of the insurance industry;
    (f) To provide for the regulation of new financial services products;
    (g) To promote the  prudent  and  continued  availability  of  credit,
  insurance and financial products and services at affordable costs to New
  York citizens, businesses and consumers;
    (h) To promote, advance and spur economic development and job creation
  in New York;
    (i)  To  ensure  the  continued  safety  and  soundness  of New York's
  banking, insurance and financial services industries,  as  well  as  the
  prudent  conduct  of  the  providers of financial products and services,
  through responsible regulation and supervision;
    (j) To protect the public interest and the  interests  of  depositors,
  creditors, policyholders, underwriters, shareholders and stockholders;
    (k)  To promote the reduction and elimination of fraud, criminal abuse
  and unethical conduct by, and with respect to,  banking,  insurance  and
  other financial services institutions and their customers; and
    (l)  To educate and protect users of banking, insurance, and financial
  services products and services  through  the  provision  of  timely  and
  understandable information.