New York § 723 Penalties for violation of this article

New York Statutes

§ 723 — Penalties for violation of this article

New York § 723

Law BNKBanking

Art. 14-AStudent Loan Servicers

This text of New York § 723 (Penalties for violation of this article) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Banking § 723 (2026).

Text

§ 723. Penalties for violation of this article. 1. In addition to such\npenalties as may otherwise be applicable by law, including but not\nlimited to the penalties available under section forty-four of this\nchapter, the superintendent may, after notice and hearing, require any\nperson found violating the provisions of this article or the rules or\nregulations promulgated hereunder to pay to the people of this state a\npenalty for each violation of the article or any regulation or policy\npromulgated hereunder a sum not to exceed the greater of (i) two\nthousand dollars or where such violation is willful ten thousand dollars\nfor each offense;

(ii)a multiple of two times the aggregate damages\nattributable to the violation; or (iii) a multiple of two times the\naggregate economic gain

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§ 723. Penalties for violation of this article. 1. In addition to such\npenalties as may otherwise be applicable by law, including but not\nlimited to the penalties available under section forty-four of this\nchapter, the superintendent may, after notice and hearing, require any\nperson found violating the provisions of this article or the rules or\nregulations promulgated hereunder to pay to the people of this state a\npenalty for each violation of the article or any regulation or policy\npromulgated hereunder a sum not to exceed the greater of (i) two\nthousand dollars or where such violation is willful ten thousand dollars\nfor each offense; (ii) a multiple of two times the aggregate damages\nattributable to the violation; or (iii) a multiple of two times the\naggregate economic gain attributable to the violation.\n 2. Nothing in this article shall limit any statutory or common-law\nright of any person to bring any action in any court for any act, or the\nright of the state to punish any person for any violation of any law.\n