N.Y. Banking Law Section 498


Any buyer having reason to believe that this article, or any other law regulating retail instalment sales, contracts, obligations or credit agreements, has been violated by any person may file with the superintendent a written complaint setting forth the details of such alleged violation. Upon receipt of such complaint, the superintendent, or any person duly designated by him, may inspect the pertinent books, records, letters and contracts of any licensee, and of any retail seller or other person involved, relating to such specific written complaint.


The superintendent or any person duly designated by him, shall have the power to hold hearings upon such complaints and to determine the time and place in this state, reasonably convenient to the parties involved, where they shall be held.


The superintendent shall make findings on any complaint on which a hearing has been held. The investigation, notice and hearing shall be in accordance with the provisions of this article and one copy of the findings shall be given to each such person involved in the complaint.


No licensee or other person shall be subject to examination or investigation by the superintendent except as provided in this article. The superintendent shall have only such powers as are expressly delegated to him by this article.

Source: Section 498 — Complaints, https://www.­nysenate.­gov/legislation/laws/BNK/498 (updated Sep. 22, 2014; accessed Jun. 22, 2024).

Jun. 22, 2024

Last modified:
Sep. 22, 2014

§ 498’s source at nysenate​.gov

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