New York Consolidated Laws, Financial Services Law - FIS § 705. Penalties and other provisions

(a) If the superintendent finds, after notice and hearing, that a consultant has knowingly violated any provision of this article and the violation was material, the superintendent may:  (1) make null and void any agreement between the borrower and the consultant;  and (2) impose a civil penalty of not more than ten thousand dollars for each violation.

(b) If the consultant violates any provision of this article and the borrower suffers damage because of the violation, the borrower may recover actual and consequential damages and costs from the consultant in an action based on this article.  If the consultant recklessly violates any provision of this article, the court may award attorneys' fees and costs.  If the consultant intentionally violates any provision of this article, the court may award treble damages, attorneys' fees and costs.

(c) Any provision of a student debt consulting contract that attempts or purports to limit the liability of the consultant under this article shall be null and void.  Inclusion of such provision shall at the option of the borrower render the contract void.  Any provision in a contract which attempts or purports to require arbitration of any dispute arising under this article shall be void at the option of the borrower.  Any waiver of the provisions of this article shall be void and unenforceable as contrary to public policy.

(d) The provisions of this article are not exclusive and are in addition to any other requirements, rights, remedies, and penalties provided by law.