In recognition of National Consumer Protection Week, Governor Kathy Hochul announced that New York State secured over $245 million in refunds and restitution for consumers and health care providers in 2024. The recoveries, facilitated by the Department of Financial Services (DFS), the Department of Public Service (DPS), and the Department of State’s Division of Consumer Protection, mark a significant step in protecting New Yorkers from financial harm.
This total includes $228 million returned through DFS alone and an additional $17.3 million recovered for 71,000 households by DPS and the Department of State—an increase of over 78% from 2023. The announcement underscores Governor Hochul’s broader agenda to crack down on predatory fees, strengthen financial oversight, and ensure transparency in 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,” 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.”
Strengthening financial protections
DFS’s Consumer Assistance Unit addressed more than 46,000 complaints last year, working directly with consumers to resolve disputes with banks, insurance companies, and financial institutions. In response to the growing use of Buy Now, Pay Later (BNPL) services—through which U.S. consumers spent $18.2 billion during the 2024 holiday season—Governor Hochul has proposed bringing BNPL providers under DFS oversight to ensure fair lending practices.
DFS has also proposed new regulations targeting unfair overdraft fees, aiming to prevent excessive charges for minor transactions and improve consumer notifications.
“At DFS, protecting consumers is at the core of what we do,” DFS Superintendent Adrienne A. Harris said. “Recovering record amounts for New Yorkers each year reflects our commitment to ensuring fairness, transparency, and accountability in financial services.”
Holding utilities accountable
DPS responded to over 42,000 consumer complaint calls and helped secure nearly $13 million in utility refunds—an increase of 75% from 2023. Additionally, the Public Service Commission levied $23.5 million in penalties against five utility companies for failing to meet customer service standards.
The Governor’s consumer protection agenda also includes closing loopholes that allow Energy Service Companies to withhold unclaimed funds from consumers.
“The PSC and Department of Public Service are committed to protecting New Yorkers,” said Public Service Commission Chair Rory M. Christian. “Inaccurate utility billing can lead to significant customer overcharges, which the Department works to get refunded back to affected customers.”
Addressing consumer complaints
The Department of State’s Division of Consumer Protection provided mediation services for nearly 29,000 households, securing over $2.3 million in refunds. The division also enforced Do Not Call violations, collecting $1.2 million in fines from telemarketers.
The top five categories of consumer complaints in 2024 included refunds and store policies, order and delivery issues, product quality concerns, credit card disputes, and travel-related complaints.
Governor Hochul has proposed new consumer protections, including a mandatory 30-day return policy for retail sellers, transparency requirements for online pricing based on personal data, and simplified cancellation processes for subscriptions.
“The Department of State’s Division of Consumer Protection is proud to have helped return over $2.3 million to New Yorkers,” said Secretary of State Walter T. Mosley. “We’re working every day to educate the public about the latest scams, how to shop smart, and how to protect their money.”
State Senator Rachel May and Assemblymember Nily Rozic praised the Governor’s efforts, emphasizing the importance of returning money to consumers and preventing unfair business practices.
Through these initiatives, New York State continues to lead the way in consumer protection, ensuring fairness, transparency, and financial security for its residents.
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