New York Governor Cuomo Signs Executive Order Requiring Loan Forbearance
On March 21, 2020, New York Governor Andrew Cuomo signed Executive Order Number 202.9 to temporarily (through April 20, 2020) require that certain New York state-regulated financial institutions grant 90-day forbearance relief to certain borrowers financially impacted by the COVID-19 pandemic, but the terms of the Executive Order present questions as to the ultimate scope of its substantive requirements.