New York Consolidated Laws, Financial Services Law - FIS § 101-a. Legislative findings and determinations

The legislature finds and determines that the banking, insurance and financial services industries constitute a critical sector of New York state's economy.

The legislature also finds and determines that responsive, effective, innovative, state banking and insurance regulation is necessary to operate in a global, evolving and competitive market place.

The legislature additionally finds and determines that this legislation is necessary to modernize and transform the present state banking department and state insurance department into a new integrated department of financial services.