{"id":"NY-100","kind":"order","level":"sector-regulator","jurisdiction":"New York","state":"NY","metro":"","industry":"","agency":"","eco":"","issuer":"Superintendent of Financial Services Linda A. Lacewell","authority":"Executive Law 29-a; EO 202.9; Financial Services Law 202, 302; Banking Law 10, 11, 14, 39(2), 590","instrument":"3 NYCRR Part 119 (Emergency Relief for New Yorkers Who Can Demonstrate Financial Hardship as a Result of COVID-19), emergency regulation","title":"New Part 119 to 3 NYCRR: Emergency Relief for New Yorkers Who Can Demonstrate Financial Hardship as a Result of COVID-19","dateIssued":"2020-03-24","effective":"\u0027to take effect upon the filing of the Notice of Emergency Adoption with the Secretary of State\u0027 (March 2020; captured Mar. 29, 2020)","end":"For the duration of EO 202.9 \u0027which may be extended\u0027; superseded by statute (ch. 112 and 126 of 2020) per EO 202.48 (July 6, 2020)","startDate":"2020-03-29","endDate":"2020-07-06","quarters":["2020Q2","2020Q3"],"types":["OTHER"],"addressees":["every New York regulated banking organization and New York regulated mortgage servicer"],"clause":"The measures responsive to the disaster emergency, required to protect the health and safety of New Yorkers, limit the ability of many people to earn a livelihood.... 119.3 COVID-19 Relief Program (a) Pursuant to Executive Order 202.9 and for the duration specified therein, which may be extended, New York regulated institutions are required to, in addition to adhering to the servicing [standards, make applications for forbearance widely available and grant them in all reasonable and prudent circumstances]","enforcement":"Banking Law 39 (unsafe and unsound practice); DFS supervisory authority","functions":["SV servicing and forbearance","ML mortgage lending","BR (fee restrictions)"],"notes":"The regulator\u0027s own finding that the State\u0027s measures \u0027limit the ability of many people to earn a livelihood\u0027","sourceUrl":"https://www.dfs.ny.gov/system/files/documents/2020/03/re_new_pt119_nycrr3_text.pdf","snapshot":"https://web.archive.org/web/20200329194234/https://www.dfs.ny.gov/system/files/documents/2020/03/re_new_pt119_nycrr3_text.pdf","fileExists":true,"fileBytes":279226,"grade":"primary","character":"","description":"","collection":"NY","url":"/library/NY-100","exhibitUrl":"/exhibit/NY-100","citation":"Superintendent of Financial Services Linda A. Lacewell, 3 NYCRR Part 119 (Emergency Relief for New Yorkers Who Can Demonstrate Financial Hardship as a Result of COVID-19), emergency regulation (Mar. 24, 2020) (Ex. NY-100)","stateName":"New York","related":["AGY-ST-INSURANCE-BANKING-009","AGY-ST-INSURANCE-BANKING-010","SEC-13-041","NY-013","NY-101"]}