Skip to content
The COVID Project
  1. Library
  2. New York
  3. NY-013

Ex. NY-013 Order Primary source read

Executive Order No. 202.9

Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency

Governor Andrew M. Cuomo · New York (State)

Open exhibit (PDF, 148 KB)Source (opens in a new tab)Archived copy (opens in a new tab)
The COVID Project

The record

Jurisdiction
New York
Level
State
Authority
Executive Law 29-a; Banking Law 39
Issued
2020-03-21 Mar. 21, 2020
Effective
2020-03-21 (directives 'through April 20, 2020') (read as 2020-03-21)
End
Continued with the 202 series; Banking Law 39(2) suspension discontinued July 7, 2020 as 'superseded by statute' (ch. 112 and 126 of 2020) per EO 202.48 (read as 2020-07-07)
In force
Mar. 21, 2020 to July 7, 2020
Quarters
2020 Q22020 Q3
Limitation types
Other
Addressees
  • every bank subject to DFS jurisdiction
  • DFS-regulated mortgage servicers
  • the Superintendent of Financial Services
Functions reached
  • SV servicing, forbearance and collections
  • ML mortgage lending
  • CL consumer lending
  • BR branches (fee restrictions authorized)
Collection
New York NY

Operative words

Subdivision two of Section 39 of the Banking Law is hereby modified to provide that it shall be deemed an unsafe and unsound business practice if, in response to the COVID-19 pandemic, any bank which is subject to the jurisdiction of the Department shall not grant a forbearance to any person or business who has a financial hardship as a result of the COVID-19 pandemic for a period of ninety days.... The Superintendent of the Department of Financial Services shall ensure under reasonable and prudent circumstances that any licensed or regulated entities provide to any consumer in the State of New York an opportunity for a forbearance of payments for a mortgage

Enforcement

Banking Law 39 (unsafe and unsound practice); DFS emergency regulation 3 NYCRR Part 119 (Ex. NY-100)

Notes

Authorized DFS to restrict ATM, overdraft and credit-card late fees for the emergency

A record of The COVID Project. The instrument's text is the source's; the summary fields are The COVID Project's reading of it. Not legal advice.