•  Summary 
  •  Actions 
  •  Committee Votes 
  •  Floor Votes 
  •  Memo 
  •  Text 
  •  LFIN 
  •  Chamber Video/Transcript 

S09366 Text:

                STATE OF NEW YORK
                    IN SENATE
                                      May 14, 2024
        Introduced  by  Sen. SANDERS -- read twice and ordered printed, and when
          printed to be committed to the Committee on Banks
        AN ACT to amend the financial services law, in relation to the  applica-
          tion of certain provisions relating to commercial financing
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. The financial services law  is  amended  by  adding  a  new
     2  section 813 to read as follows:
     3    §  813. Application. The requirements of this article shall not impose
     4  any liability on a provider as a result of the actual annual  percentage
     5  rate  charged  by  the  provider  differing  from  the  estimated annual
     6  percentage rate disclosed by the provider acting in good  faith  and  in
     7  conformity  with  this article and applicable department rules and regu-
     8  lations.
     9    § 2. This act shall take effect immediately.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
Go to top