New York bill A01222 allows the Department of Financial Services to oversee banks and insurance companies not licensed in the state and provides.

The New York Assembly bill A01222 amends the financial services law to grant the Department of Financial Services additional oversight of banks and insurance companies not currently licensed in the state. The bill provides penalties for violations, including civil penalties for unlicensed activities. It also allows the superintendent to issue orders for restitution for unlicensed acts and mandates that civil penalties be applied in the same manner as other civil penalties.

New York bill A01222 allows the Department of Financial Services to oversee banks and insurance companies not licensed in the state and provides.

The New York Assembly bill A01222 amends the financial services law to grant the Department of Financial Services additional oversight of banks and insurance companies not currently licensed in the state. The bill provides penalties for violations, including civil penalties for unlicensed activities. It also allows the superintendent to issue orders for restitution for unlicensed acts and mandates that civil penalties be applied in the same manner as other civil penalties.