Notifications
Sign up to receive email notifications when proposed, revised, emergency, and adopted rules are posted to this website.
To be notified by postal mail or to receive copies of Department of Financial Services’ proposed, revised, emergency, and adopted rules, submit a request in writing, including your mailing address, to Regulation Notification Officer, Office of General Counsel, 20th Floor, New York State Department of Financial Services, New York, NY 10004. Written requests expire annually on December 31. Renewal requests for the following year may be submitted by mail on or after December 1.
Note: Unless noted otherwise, all documents available from this page are in PDFformat.
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Pre-Proposed Outreach
The following draft regulations are not currently in effect. The Department of Financial Services is considering whether to propose this regulation.
Before filing a proposed regulation for publication in the State Register for a formal comment period pursuant to the New York State Administrative Procedure Act, the Department provides a draft for review and comment by interested persons and the public, including, but not limited to, small businesses and local governments.
Unless otherwise noted, the comment period extends for 10 days from the date of posting. Comments about this proposed regulation can be addressed to the Agency Contact noted.
Updated 06/06/2023
| Description and Documents | Date Posted | Outreach Comments Due By | Agency Contact |
|---|---|---|---|
No drafts are available at this time. |
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Proposed Regulations
The Department of Financial Services often proposes regulations addressing important policy considerations that have an impact on the interests of New Yorkers. It is important that every New Yorker with an interest have a fair and equal opportunity to provide feedback on a proposed regulation. To that end, and in compliance with the requirements of the State Administrative Procedure Act (SAPA),all proposed regulations are subject to at least one public comment period of at least 60 days.
In the Department’s experience, some members of the public seek to have an additional opportunity to express their opinion on proposed regulation through attempted meetings, calls, or e-mails. The Department is concerned these attempts at additional opportunities to provide feedback on a proposed regulation may create the appearance that certain members of the public have an undue influence on the Department’s deliberation of a proposed regulation. To avoid any appearance of, or actual influence on, the Department’s deliberations, the Department wishes to clarify for the public thatthe Department will only accept feedback on a proposed regulation that is submitted in writing as part of the public comment process. Furthermore, the Department will not engage in meetings or discussions of a regulation after it is published for comment, barring extenuating circ*mstances as determined by the Department. The Department strongly discourages interested parties from reaching out to discuss a proposed regulation with the Department, whether in support or opposition to the proposal, outside of the written comment process. Feedback on a proposed regulation should be submitted in writing as part of the public comment process.
The Department encourages everyone interested in a proposed regulation to use the public comment period to submit a written comment on a proposed regulation. Comments can be submitted to the Agency Contact noted below. Questions regarding the content of a specific proposed regulationmay also be sent via email to the listed Agency Contact.
The Department will carefully review all public comments and makes a determination on how to proceed with the proposed regulation.
The comment period extends for 60 days from the date of publication in the State Register.
Updated 04/05/2023
| Description and Documents | Date Filed with the Secretary of State | Date Published in the State Register | Public comment period expires | Agency Contact |
|---|---|---|---|---|
Indices Which May Be Used in Connection with Variable Rate Closed-End Personal Loans Made by Lending Institutions Pursuant to Part 33 or in Connection with Variable Rate Open-End Accounts Established by Banking Institutions Pursuant to Part 90 and Indices Which May Be Used in Connection with Part 80 Variable Rate Junior Mortgage Loans, Part 91 Variable Rate Installment Agreements and Part 92 Variable Rate Closed-End Retail Installment Contracts and Obligations
| March 20, 2023 | April 5, 2023 | June 5, 2023 | George Bogdan |
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Adopted on an Emergency Basis
Updated 06/14/2023
| Adoption | Date Filed with Secretary of State | Date Published in the State Register | Expiration Date | Contact |
|---|---|---|---|---|
Indices Which May Be Used in Connection with Variable Rate Closed-End Personal Loans Made by Lending Institutions Pursuant to Part 33 or in Connection with Variable Rate Open-End Accounts Established by Banking Institutions Pursuant to Part 90 and Indices Which May Be Used in Connection with Part 80 Variable Rate Junior Mortgage Loans, Part 91 Variable Rate Installment Agreements and Part 92 Variable Rate Closed-End Retail Installment Contracts and Obligations
| June 14, 2023 | July 5, 2023 | August 12, 2023 | George Bogdan |
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Final Adoptions
A final adopted regulation is a regulation that has been previously proposed and published, for which the public was afforded an opportunity to comment, and which DFS has adopted on a permanent basis. Final, adopted regulations may remain posted here for a limited time following adoption for the convenience of the public, but once adopted can always be accessed in the State Codes, Rules & Regulations (NYCRR)
Effective 07/05/2023
| Adoption (link and description) | Effective Date |
|---|---|
Indices Which May Be Used in Connection with Variable Rate Closed-End Personal Loans Made by Lending Institutions Pursuant to Part 33 or in Connection with Variable Rate Open-End Accounts Established by Banking Institutions Pursuant to Part 90 and Indices Which May Be Used in Connection with Part 80 Variable Rate Junior Mortgage Loans, Part 91 Variable Rate Installment Agreements and Part 92 Variable Rate Closed-End Retail Installment Contracts and Obligations
| July 5, 2023 |
Elimination of Minimum Space Requirement for Check Casher Locations
| June 21, 2023 |
Compliance with Community Reinvestment Act Requirements
| February 8, 2023 |
Check Casher Fees
| January 18, 2023 |
Superintendent’s Regulations: Information Subject to Confidential Treatment Under Section 36.10 of the Banking Law
| April 7, 2021 |
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As an expert in regulatory processes and financial services, I have a deep understanding of the intricate details involved in the creation, modification, and adoption of rules within the financial sector. My knowledge is grounded in a comprehensive understanding of the New York State Administrative Procedure Act (SAPA) and other relevant legal frameworks.
In the provided article, the New York State Department of Financial Services (DFS) outlines its procedures for handling proposed, revised, emergency, and adopted rules. The document covers various stages, each serving a distinct purpose in the regulatory lifecycle.
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Pre-Proposed Outreach:
- The DFS initiates the regulatory process by presenting draft regulations for review and comment by interested parties, including the public, small businesses, and local governments.
- The comment period for these drafts typically extends for 10 days from the date of posting.
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Proposed Regulations:
- The DFS emphasizes the importance of public feedback on proposed regulations, complying with the State Administrative Procedure Act (SAPA).
- The public is encouraged to submit written comments during a 60-day comment period, and the DFS explicitly states that it will only accept feedback through the formal written comment process.
- The article also mentions the potential influence of additional attempts, such as meetings, calls, or emails, on the Department's deliberations. It clarifies that such interactions are discouraged outside the official comment process.
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Adopted on an Emergency Basis:
- In certain situations, regulations may be adopted on an emergency basis. The DFS provides information on the adoption date, publication in the State Register, and the expiration date of the emergency adoption.
- Similar to proposed regulations, the public is informed of the indices related to variable rate financial products and is provided with relevant contacts.
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Final Adoptions:
- This section discusses regulations that have undergone the entire regulatory process, including proposal, public comment, and adoption on a permanent basis.
- Final adopted regulations, effective from a specified date, are listed, and relevant information such as links to the adopted regulations and descriptions are provided.
- Specific examples of final adoptions are mentioned, including changes related to minimum space requirements for check casher locations, compliance with the Community Reinvestment Act requirements, check casher fees, and regulations regarding information subject to confidential treatment under Section 36.10 of the Banking Law.
In summary, the article provides a comprehensive overview of the regulatory journey, from the initial draft stage to the final adoption of rules, within the context of the New York State Department of Financial Services. The emphasis on transparency, public participation, and adherence to legal procedures is evident throughout the outlined processes.
