New York Banking Law

Article 2-B
Financial Frauds Prevention Act

       Section 
        76. Short title.
        77. Criminal investigations bureau.
        78. Powers of the bureau.
        79. Immunity.
        80. Other law enforcement authority, powers and duties not
              affected or impaired.

  S 76. Short title. This article shall be known and may be cited as the
"financial frauds prevention act".

  S 77. Criminal investigations bureau. The superintendent shall
establish a criminal investigations bureau in the department.

  S 78. Powers of the bureau. If the criminal investigations bureau has
a reasonable suspicion that a person or entity subject to the
jurisdiction of the department has, in connection with activities
authorized by this chapter, engaged in, or is engaging in an activity
which is a misdemeanor or felony under this chapter or under articles
one hundred fifty-five, one hundred seventy, one hundred seventy-five,
one hundred seventy-six, one hundred eighty, one hundred eighty-five,
one hundred ninety, two hundred, two hundred ten or four hundred seventy
of the penal law, the superintendent may undertake such investigation as
is deemed necessary, and in the enforcement of this chapter, determine
whether any such person or entity has violated or is about to violate
any of the above referenced laws or articles. Provided, however, that
the scope of authority set forth in this section shall not be deemed to
otherwise limit or impair the ability of the department to assist any
other entity in an investigation involving a violation of law.

  S 79. Immunity. In the absence of fraud or bad faith, no person or
entity subject to the provisions of this chapter shall be subject to
civil liability, and no civil cause of action of any nature shall arise
against such person or entity, for providing information to law
enforcement officials, including persons assigned to the criminal
investigations bureau, relating to suspected criminal violations of this
chapter or the affecting entities or persons subject to the jurisdiction
of the department.

  S 80. Other law enforcement authority, powers and duties not affected
or impaired. This article shall not:  1. Preempt the authority or
relieve the duty of other law enforcement agencies to investigate and
prosecute suspected violations of law.
  2. Prevent or prohibit a person from voluntarily disclosing any
information concerning violations of this article to any law enforcement
agency.
  3. Limit any of the powers granted elsewhere in this chapter and other
laws to the superintendent or the department to investigate possible
violations of law and take appropriate action.