N.Y. Comp. Codes R. & Regs. tit. 3 § 409.12

Current through Register Vol. 46, No. 25, June 18, 2024

Section 409.12 - Confidential supervisory information

(a) The following, including any duly authenticated copy or copies thereof, shall be deemed confidential communications under subdivision (10) of section 36 of the banking law:

(1) All communications between the department and any student loan servicer.

(2) Any materials compiled by the department in the course of the supervision of any student loan servicer.

(3) Any reports provided to the department by any student loan servicer.

(4) Any reports of examinations or investigations, correspondence, and memoranda concerning or arising out of such examination and investigations.

(b) Such information shall not be subject to subpoena and shall not be made public. No student loan servicer or any other person in possession of such information shall make any disclosure or publication of such information.

(c) Notwithstanding subdivision (b) of this section, the superintendent in her discretion may determine that the ends of justice and the public advantage will be served by the disclosure or publication of any confidential communication and may publish or authorize the publication of a copy of any such confidential communication or any part thereof in such manner and subject to such conditions as the superintendent in her discretion deems proper.

N.Y. Comp. Codes R. & Regs. Tit. 3 § 409.12

Adopted New York State Register October 16, 2019/Volume XLI, Issue 42, eff. 10/16/2019