{"id":"AGY-ST-INSURANCE-BANKING-009","kind":"context","level":"sector-regulator","jurisdiction":"New York; Department of Financial Services (banking division)","state":"NY","metro":"","industry":"","agency":"ST-INSURANCE-BANKING","eco":"","issuer":"Superintendent of Financial Services","authority":"Fin. Serv. Law § 302","instrument":"Industry Letter of March 19, 2020","title":"Support for Consumers and Businesses Impacted by the Novel Coronavirus (COVID-19)","dateIssued":"2020-03-19","effective":"2020-03-19","end":"Made mandatory for hardship consumers by Executive Order 202.9 (Mar. 21, 2020) and 3 NYCRR 119 (Mar. 24, 2020, Ex. NY-100)","startDate":"2020-03-19","endDate":"2020-03-21","quarters":["2020Q2","2020Q3","2020Q4","2021Q1","2021Q2","2021Q3"],"types":["OTHER"],"addressees":["chief executive officers of New York State regulated financial institutions"],"clause":"the Department is issuing guidance to urge all regulated financial institutions during this outbreak to do their part to alleviate the adverse impact caused by COVID-19 on those consumers and small businesses that can demonstrate financial hardship caused by COVID-19, including taking reasonable and prudent actions to support impacted... Waiving overdraft fees... Waiving late fees for credit card and other loan balances... Waiving automated teller machine (ATM) fees... Waiving early withdrawal penalties on time deposits... Offering payment accommodations, such as allowing loan customers to defer payments at no cost, extending the payment due dates or otherwise adjusting or altering terms of existing loans","enforcement":"Supervisory; superseded in part by the binding standards of 3 NYCRR 119 (Ex. NY-100)","functions":["BR branches and fee operations","CL consumer lending","BL business lending","SV servicing and collections","CB consumers and small businesses under hardship"],"notes":"","sourceUrl":"https://www.dfs.ny.gov/industry_guidance/industry_letters/il20200319_consumer_support_coronavirus","snapshot":"https://web.archive.org/web/20200323183921/https://www.dfs.ny.gov/industry_guidance/industry_letters/il20200319_consumer_support_coronavirus","fileExists":true,"fileBytes":65123,"grade":"primary","character":"context","description":"","collection":"AGY-ST-INSURANCE-BANKING","url":"/library/AGY-ST-INSURANCE-BANKING-009","exhibitUrl":"/exhibit/AGY-ST-INSURANCE-BANKING-009","citation":"Superintendent of Financial Services, Industry Letter of March 19, 2020 (Mar. 19, 2020) (Ex. AGY-ST-INSURANCE-BANKING-009)","stateName":"New York","related":["NY-100","AGY-ST-INSURANCE-BANKING-003","AGY-ST-INSURANCE-BANKING-010","AGY-ST-INSURANCE-BANKING-004","AGY-ST-INSURANCE-BANKING-002","AGY-ST-INSURANCE-BANKING-005","AGY-ST-INSURANCE-BANKING-007","AGY-ST-INSURANCE-BANKING-008","AGY-ST-INSURANCE-BANKING-011"]}