N.Y.
Banking Law Section 718
Rules and Regulations
1.
In addition to such powers as may otherwise be prescribed by law, the superintendent is hereby authorized and empowered to promulgate such rules and regulations as may in the judgement of the superintendent be consistent with the purposes of this article, or appropriate for the effective administration of this article, including, but not limited to:(a)
Such rules and regulations in connection with the activities of student loan servicers as may be necessary and appropriate for the protection of borrowers in this state.(b)
Such rules and regulations as may be necessary and appropriate to define unfair, deceptive or abusive acts or practices in connection with the activities of student loan servicers.(c)
Such rules and regulations as may define the terms used in this article and as may be necessary and appropriate to interpret and implement the provisions of this article.(d)
Such rules and regulations as may be necessary for the enforcement of this article.2.
The superintendent is hereby authorized and empowered to make such specific rulings, demands and findings as the superintendent may deem necessary for the proper conduct of the student loan servicing industry.
Source:
Section 718 — Rules and Regulations, https://www.nysenate.gov/legislation/laws/BNK/718 (updated Oct. 11, 2019; accessed Oct. 26, 2024).
