A New York applicant in 2026 has a 2021 felony conviction unrelated to finance. How does the timing of this conviction affect eligibility for a New York originator license?
Correct Answer
B) Disqualifying: it falls in the 7-year period before the application
The superintendent shall not issue a license unless the applicant has not been convicted of a felony during the seven-year period preceding the date of the application. Other choices: inside the window the subject matter of the felony does not matter; the lifetime bar is the second limb; and the window is 7 years rather than 5. Source: N.Y. Banking Law § 599-e(1)(b)(i)
Why This Is the Correct Answer
The superintendent shall not issue a license unless the applicant has not been convicted of a felony during the seven-year period preceding the date of the application. Other choices: inside the window the subject matter of the felony does not matter; the lifetime bar is the second limb; and the window is 7 years rather than 5. Source: N.Y. Banking Law § 599-e(1)(b)(i)
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