New York S03789 amends the financial services law to establish civil penalties for fraud or misrepresentation of a material fact related to financial.

New York S03789 amends the financial services law to establish civil penalties for certain fraud or misrepresentation of a material fact with respect to a financial product or service. The penalties can be up to $5,000 per offense for intentional fraud, violations of fair debt collection practices, or misleading representations. The law aims to protect consumers from substantial injury caused by such practices, ensuring that the benefits to consumers or competition do not outweigh the harm. This amendment does not limit other criminal or civil liabilities that may apply.

New York S03789 amends the financial services law to establish civil penalties for fraud or misrepresentation of a material fact related to financial.

New York S03789 amends the financial services law to establish civil penalties for certain fraud or misrepresentation of a material fact with respect to a financial product or service. The penalties can be up to $5,000 per offense for intentional fraud, violations of fair debt collection practices, or misleading representations. The law aims to protect consumers from substantial injury caused by such practices, ensuring that the benefits to consumers or competition do not outweigh the harm. This amendment does not limit other criminal or civil liabilities that may apply.