With a staff of nearly 1,400 employees, the Department of Financial Services (DFS) regulates and supervises the activities of financial institutions, including insurance companies and state-chartered banks operating in New York. DFS also licenses money transmitters, mortgage loan originators and servicers, and insurance agents. DFS works every day to reform the regulation of the financial services industry to keep pace with their rapid and dynamic evolution, including the emergence of virtual currencies; guard against financial crises; and protect consumers and markets from fraud.