N.Y. BNK Law § 719

§ 719. Prohibited practices. No student loan servicer shall:\n 1. Employ any scheme, device or artifice to defraud or mislead a\nborrower;\n 2. Engage in any unfair, deceptive or predatory act or practice toward\nany person or misrepresent or omit any material information in\nconnection with the servicing of a student loan, including, but not\nlimited to, misrepresenting the amount, nature or terms of any fee or\npayment due or claimed to be due on a student loan, the terms and\nconditions of the loan agreement or the borrower's obligations under the\nloan;\n 3. Misapply payments to the outstanding balance of any student loan or\nto any related interest or fees;\n 4. Provide inaccurate information to a consumer reporting agency;\n 5. Refuse to communicate with an authorized representative of the\nborrower who provides a written authorization signed by the borrower,\nprovided that the servicer may adopt procedures reasonably related to\nverifying that the representative is in fact authorized to act on behalf\nof the borrower;\n 6. Make any false statement or make any omission of a material fact in\nconnection with any information or reports filed with a governmental\nagency or in connection with any investigation conducted by the\nsuperintendent or another governmental agency;\n 7. Fail to respond within fifteen calendar days to communications from\nthe department, or within such shorter, reasonable time as the\ndepartment may request in his or her communication; or\n 8. Fail to provide a response within fifteen calendar days to a\nconsumer complaint submitted to the servicer by the department. If\nnecessary, a student loan servicer may request additional time up to a\nmaximum of forty-five calendar days, provided that such request is\naccompanied by an explanation why such additional time is reasonable and\nnecessary.\n