N.Y. Financial Services Law § 403 Financial Frauds and Consumer Protection Unit

• Library: New York Statutes
• Edition: 2023
• Currency: Current through 2023 NY Law Chapter 682

(a) The superintendent shall establish a financial frauds and consumer protection unit in the department of financial services.

(b) The financial frauds and consumer protection unit shall be a qualified agency, as defined in section eight hundred thirty-five of the executive law, to enforce the provisions of this article and article four of the insurance law and article II-B of the banking law.

(c) The superintendent shall have the power to designate employees of the unit as peace officers as defined in section 2.10 of the criminal procedure law. Any such designations made by the superintendent of insurance or the superintendent of banks, as they relate to peace officers within the insurance frauds bureau and the criminal investigations bureau, made prior to the effective date of this chapter, shall be deemed continued and will remain effective subject to the discretion of the superintendent.