New York Consolidated Laws, Banking Law - BNK § 748. Penalties

2. (a) Without limiting any power granted to the superintendent under any other provision of this chapter, the superintendent may, in a proceeding after notice and a hearing require a buy-now-pay-later lender, whether or not a licensee, to pay to the people of this state a penalty for any violation of this chapter, any rule or regulation promulgated thereunder, any final or temporary order issued pursuant to section thirty-nine of this chapter, any condition imposed in writing by the superintendent in connection with the grant of any application or request, or any written agreement entered into with the superintendent, and for knowingly making any incorrect statement of a material fact in any application, report or statement filed pursuant to this article, or knowingly omitting to state any material fact necessary to give the superintendent any information lawfully required by the superintendent or refusing to permit any lawful investigation or examination.

(b) The superintendent shall not impose or collect any penalty for an act or omission constituting a violation of this article if the superintendent imposes or collects any penalty pursuant to another provision of this chapter for the same act or omission.

(c) The superintendent shall not impose or collect a penalty for an act or omission constituting a violation of this article by a buy-now-pay-later lender more than once for the same act or omission, where the entity extending credit directly to a consumer is different from the entity operating a platform, software, or system with which the consumer interacts, unless both entities are found to have knowingly committed the same act or omission.

(d) As to any buy-now-pay-later lender that is not a licensee or an authorized buy-now-pay-later lender, the superintendent is authorized to impose a penalty in the same amount authorized in section forty-four of this chapter for a violation of this chapter by any person licensed, certified, registered, authorized, chartered, accredited, incorporated or otherwise approved by the superintendent under this chapter.