The New York State Department of Financial Services Student Protection Unit

Governor Cuomo formed the Student Protection Unit (SPU) as part of the Financial Frauds and Consumer Protection Division (FFCPD) of the Department of Financial Services (DFS). The SPU was formed to enhance consumer protections for New York's students, and to help those students build financially sound futures.

The goals of the Student Protection Unit are:

• To protect students from fraud and misrepresentation in the market for financial products and services by taking appropriate action, such as enforcing applicable laws and regulations and encouraging industry transparency.
• To monitor student-related financial practices in New York and, when appropriate, provide unbiased and objective information on industry practices and the functions of student-related financial products.
• To educate student consumers and their parents regarding available financial products and services and empower them to make informed choices.

You can learn more about student protection in our Student Lending Resource Center.