ALBANY, N.Y (CBSNewYork) – A federal probe is underway in Albany following new allegations of corruption.

Sources have informed CBS2’s Marcia Kramer that the FBI and federal prosecutors are investigating New York State Senate Majority Leader Dean Skelos (R-Rockville Centre) and his son, Adam.

The probe of Adam Skelos’ affairs has so far centered on a $20,000 payment from a title insurance company that the younger Skelos never worked for, and a Nassau County storm-water treatment contract awarded to a firm Adam represented that was not the lowest bidder, Kramer reported.

The latest allegations are troubling and show the need to cap Albany lawmakers’ outside income, Executive Director of the Citizens Union Dick Dadey said.

“It’s taken an outside cop, the U.S. Attorney’s Office, to come and begin to clean up the swamp that is Albany,” Dadey told WCBS 880’s Paul Murnane.

The elder Skelos called reports earlier this year focusing on his ties to real estate “irresponsible.”

Although subpoenas have reportedly been served, so far neither Skelos has been charged with wrongdoing, Kramer reported, with the Senate majority leader issuing a statement saying: “I have and will continue to cooperate with any inquiry.”

His 32-year-old son seemed surprised by what sources said about the focus of the investigation, telling the New York Times “I had no idea this was an issue.”

News of the Skelos corruption probe comes at a particularly bad time. The Assembly just had to pick a new leader to replace Sheldon Silver, who is facing corruption charges, and there is a full menu of issues for the Legislature to resolve in the coming months, including New York City rent regulations and mayoral control of the schools, Kramer reported.

Back when the Silver news broke, U.S. Attorney Preet Bharara promised more action to clean up Albany.

“Our unfinished fight against public corruption continues. You should stay tuned,” Bharara said on Jan. 23.

Now, pundits are wondering just how much the news will impact governing.

“The question here is whether these kinds of investigations impact on the effectiveness of the Senate Republican leaders,” politicial consultant Hank Sheinkopf said. “To negotiate with the governor and with the Assembly and the answer is, yes. Because the nature of politics is to take advantage of everyone you can.”

And pundits told Kramer the last thing Albany needs right now is more chaos, especially since high stakes debates on such issues such as increasing the minimum wage and raising the cap on charter schools must be resolved before the session ends in June.