On March 11, the Superintendent of NYDFS, Adrienne Harris, reportedly announced her agency’s intention to hire federal financial agency employees affected by recent job cuts under the Trump administration. Harris highlighted NYDFS has expanded its staffing to enhance its examination and technology capabilities and has hired or promoted over 1,000 people, including nearly 200 examiners since she took over in 2021. She reportedly extended an invitation to displaced federal employees, emphasizing NYDFS’s ongoing recruitment efforts. Harris reported the NYDFS currently has 213 openings in various roles, including actuaries, banking personnel, attorneys, and virtual currency analysts, with plans to increase staffing to over 1,400.

Harris also reported ongoing DFS projects, including new bank overdraft regulations and potential regulations of buy-now-pay-later products. She emphasized NYDFS’s efforts to update its technology and supervisory processes, including a new relationship-management platform and an “escalation protocol” for bank supervision.