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Ex. SEC-13-041 Order Primary source read

3 NYCRR Part 119 (emergency regulation), Emergency Relief for New Yorkers Who Can Demonstrate Financial Hardship as a Result of COVID-19

New Part 119 to 3 NYCRR: Emergency Relief for New Yorkers Who Can Demonstrate Financial Hardship as a Result of COVID-19

Superintendent of Financial Services Linda A. Lacewell (Department of Financial Services) · New York (Sector regulator)

Open exhibit (PDF, 273 KB)Source (opens in a new tab)
The COVID Project

The record

Jurisdiction
New York
Level
Sector regulator
Authority
Executive Law 29-a; Executive Order 202.9 (Mar. 21, 2020); Financial Services Law 202, 302; Banking Law 10, 11, 14, 39(2), 590
Issued
2020-03-24 Mar. 24, 2020
Effective
upon filing of the Notice of Emergency Adoption with the Secretary of State (Mar. 24, 2020) (read as 2020-03-24)
End
2020-07-07 (EO 202.9 regime superseded by Banking Law 9-x, L. 2020 ch. 112, June 17, 2020; the New York State file (NY-100) records the end date) (read as 2020-07-07)
In force
Mar. 24, 2020 to July 7, 2020
Quarters
2020 Q22020 Q3
Limitation types
Other
Addressees
  • New York regulated banking organizations
  • New York regulated mortgage servicers
Functions reached
  • SV (compelled 90-day residential mortgage forbearance)
  • AT (ATM fees eliminated)
  • BR
  • CC
  • OP
Collection
Financial Services SEC-13

Operative words

New York regulated institutions are required to, in addition to adhering to the servicing requirements of Part 419, (i) make applications for forbearance of any payment due on a residential mortgage of a property located in New York, widely available to any individual who resides in New York and who demonstrates financial hardship as a result of the COVID-19 pandemic; and (ii) subject to the safety and soundness requirements of the regulated institution, grant such forbearance for a period of ninety (90) days to any such individual.... New York regulated banking organizations will provide the following financial relief to any individual who can demonstrate financial hardship from COVID-19... (1) Eliminating fees charged for the use of automated teller machines ("ATMs")...

Enforcement

Banking Law and Financial Services Law supervisory and enforcement powers; EO 202.9 made failure to grant forbearance an unsafe and unsound business practice

Notes

Excludes federally backed, GSE and FHLB loans (sec. 119.3(a)). Same instrument as NY-100 in the New York State file.

Retrieval note

Record written by the completing agent (Sept. 27, 2026) from the exhibit's text.

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.