New York § 404 Powers of the financial frauds and consumer protection unit

New York Statutes

§ 404 — Powers of the financial frauds and consumer protection unit

New York § 404

Law FISFinancial Services Law

Art. 4Financial Frauds Prevention

This text of New York § 404 (Powers of the financial frauds and consumer protection unit) 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. Financial Services Law § 404 (2026).

Text

  § 404. Powers of the financial frauds and consumer protection unit.\n(a) The superintendent has authority under this article, the banking\nlaw, the insurance law and other applicable laws to investigate\nactivities that may constitute violations subject to section four\nhundred eight or four hundred eight-a of this article or violations of\nthe insurance law or banking law and to develop evidence thereon.\n  (b) If the financial frauds and consumer protection unit has a\nreasonable suspicion that a person or entity has engaged, or is\nengaging, in fraud or misconduct with respect to the banking law, the\ninsurance law, the provisions of this chapter or other laws pursuant to\nwhich the superintendent has investigatory or enforcement powers, then\nthe superintendent, in the enforcement of

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§ 404. Powers of the financial frauds and consumer protection unit.\n(a) The superintendent has authority under this article, the banking\nlaw, the insurance law and other applicable laws to investigate\nactivities that may constitute violations subject to section four\nhundred eight or four hundred eight-a of this article or violations of\nthe insurance law or banking law and to develop evidence thereon.\n (b) If the financial frauds and consumer protection unit has a\nreasonable suspicion that a person or entity has engaged, or is\nengaging, in fraud or misconduct with respect to the banking law, the\ninsurance law, the provisions of this chapter or other laws pursuant to\nwhich the superintendent has investigatory or enforcement powers, then\nthe superintendent, in the enforcement of relevant statutes and\nregulations, may undertake an investigation thereon, provided, however,\nthat the scope of authority set forth in this section shall not be\ndeemed to otherwise limit or impair the ability of the superintendent to\nassist any other entity in an investigation involving a violation of\nlaw, and provided further that the responsibility and power to\ninvestigate any specific frauds or misconduct enumerated in this\nchapter, the banking law, the insurance law and other laws pursuant to\nwhich the superintendent has investigatory or enforcement powers shall\nbe included under the jurisdiction of the financial frauds and consumer\nprotection unit.\n (c) Nothing in this chapter shall be construed to grant or authorize\nthe financial frauds and consumer protection unit the specific powers or\nresponsibilities of the consumer protection division of the department\nof state.\n