N.Y. Comp. Codes R. & Regs. Tit. 3 § 119.1 - Statement of purpose
By Executive Order No. 202, issued March 7, 2020, Governor
Andrew M. Cuomo declared a disaster emergency in the State of New York in
response to the outbreak of COVID-19. COVID-19 presents a public health crisis
and economic challenge to the State unprecedented in modern history. Responding
to COVID-19 requires a coordinated effort by all New Yorkers. For many,
COVID-19 presents an unexpected hardship that will strain their limited
resources. The measures responsive to the disaster emergency, required to
protect the health and safety of New Yorkers, limit the ability of many people
to earn a livelihood. In recognition of the adversity many will face, Governor
Cuomo issued, on March 21, 2020, Executive Order 202.9, directing institutions
regulated by the Department of Financial Services (the department) to provide,
under reasonable and prudent circumstances, financial relief to consumers in
New York experiencing a financial hardship due to the
The aim of Executive Order 202.9 and this regulation is to
provide certain financial relief during this pandemic to those who can
demonstrate a financial hardship as a result of the
Notes
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