N.Y. Banking Law § 718: Rules and Regulations

§ 718. Rules and Regulations. 1. In addition to such powers as may

otherwise be prescribed by law, the superintendent is hereby authorized

and empowered to promulgate such rules and regulations as may in the

judgement of the superintendent be consistent with the purposes of this

article, or appropriate for the effective administration of this

article, including, but not limited to:

(a) Such rules and regulations in connection with the activities of

student loan servicers as may be necessary and appropriate for the

protection of borrowers in this state.

(b) Such rules and regulations as may be necessary and appropriate to

define unfair, deceptive or abusive acts or practices in connection with

the activities of student loan servicers.

(c) Such rules and regulations as may define the terms used in this

article and as may be necessary and appropriate to interpret and

implement the provisions of this article.

(d) Such rules and regulations as may be necessary for the enforcement

of this article.

2. The superintendent is hereby authorized and empowered to make such

specific rulings, demands and findings as the superintendent may deem

necessary for the proper conduct of the student loan servicing industry.