N.Y. Banking Law Section 742
Superintendent authorized to examine

1.

The superintendent shall have the power to make such investigations as the superintendent shall deem necessary to determine whether any buy-now-pay-later lender or any other person has violated any of the provisions of this article or any other applicable law, or whether any licensee has conducted itself in such manner as would justify the revocation of its license, and to the extent necessary therefor, the superintendent may require the attendance of and examine any person under oath, and shall have the power to compel the production of all relevant books, records, accounts, and documents.

2.

The superintendent shall have the power to make such examinations of the books, records, accounts and documents used in the business of any licensee as the superintendent shall deem necessary to determine whether any such licensee has violated any of the provisions of this chapter or any other applicable law or to secure information lawfully required by the superintendent. * NB Effective upon the one hundred eightieth day after the promulgation of rules and/or regulations by the department of financial services to effectuate certain provisions (see Ch. 58 of 2025, Part Y, § 13)

Source: Section 742 — Superintendent authorized to examine, https://www.­nysenate.­gov/legislation/laws/BNK/742 (updated May 16, 2025; accessed Jun. 21, 2025).

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Verified:
Jun. 21, 2025

Last modified:
May 16, 2025

§ 742. Superintendent authorized to examine's source at nysenate​.gov

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