N.Y. Financial Services Law § 403: Financial frauds and consumer protection unit

§ 403. Financial frauds and consumer protection unit. (a) The

superintendent shall establish a financial frauds and consumer

protection unit in the department of financial services.

(b) The financial frauds and consumer protection unit shall be a

qualified agency, as defined in section eight hundred thirty-five of the

executive law, to enforce the provisions of this article and article

four of the insurance law and article II-B of the banking law.

(c) The superintendent shall have the power to designate employees of

the unit as peace officers as defined in section 2.10 of the criminal

procedure law. Any such designations made by the superintendent of

insurance or the superintendent of banks, as they relate to peace

officers within the insurance frauds bureau and the criminal

investigations bureau, made prior to the effective date of this chapter,

shall be deemed continued and will remain effective subject to the

discretion of the superintendent.

(d) The superintendent is authorized to establish within the financial

frauds and consumer protection unit one or more units designated for the

purpose of investigating and preventing fraud and other criminal

activity in certain specified areas of the banking, finance and

insurance industries, as authorized by this chapter.