If the superintendent has a reasonable suspicion that a person or entity is engaging in or has engaged in fraud (as interpreted under this chapter, the insurance law or the financial services law) or a misdemeanor or felony under this chapter or one of the articles of the penal law enumerated in this section in connection with activities regulated by the superintendent pursuant to this chapter or involving a product regulated pursuant to this chapter, the superintendent may undertake such investigation as is deemed necessary, and in the enforcement of this chapter, determine whether any such person or entity has violated or is about to violate this chapter or any such enumerated articles. The applicable articles of the penal law are article one hundred fifty-five, one hundred seventy, one hundred seventy-five, one hundred seventy-six, one hundred eighty, one hundred eighty-five, one hundred eighty-seven, one hundred ninety, two hundred, two hundred ten or four hundred seventy. Notwithstanding the above-referenced laws or articles, the scope of authority set forth in this section shall not be deemed to otherwise limit or impair the ability of the department to assist any other entity in an investigation involving a violation of law.
Terms Used In N.Y. Banking Law 78
- Felony: A crime carrying a penalty of more than a year in prison.
- Fraud: Intentional deception resulting in injury to another.
- Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.