On December 5, the governor of New York signed into law new provisions to amend the state’s financial services laws in connection with engaging in certain activities without a license. Specifically, the amendment adds § 408-a, “Civil penalty,” which defines prohibited unlicensed acts under the banking law and its regulations and sets forth specific penalties. The statute will allow the NYDFS superintendent to levy civil penalties, which may be doubled if any consumer harm results, and to order restitution. Civil penalties collected are applied in the same manner as those received under § 408 of the chapter. The act went into effect immediately upon signing.