Assembly Bill A2537

2025-2026 Legislative Session

Relates to requiring the disclosure of fees on certain internet websites and mobile applications

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2025-A2537 (ACTIVE) - Details

Current Committee:
Assembly Consumer Affairs And Protection
Law Section:
General Business Law
Laws Affected:
Add §399-ss, Gen Bus L
Versions Introduced in Other Legislative Sessions:
2019-2020: A8719
2021-2022: A2521
2023-2024: A99

2025-A2537 (ACTIVE) - Summary

Requires the disclosure of fees on internet websites and mobile applications which allow consumers to acquire loans with terms of less than one month.

2025-A2537 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2537
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 17, 2025
                                ___________
 
 Introduced  by  M. of A. SAYEGH, COLTON -- read once and referred to the
   Committee on Consumer Affairs and Protection
 
 AN ACT to amend the general business law, in relation to  requiring  the
   disclosure  of  fees  on certain internet websites and mobile applica-
   tions

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The general business law is amended by adding a new section
 399-ss to read as follows:
   § 399-SS. DISCLOSURE OF CERTAIN FEES. 1. NO INTERNET WEBSITE OR MOBILE
 APPLICATION  WHICH  CAN  BE  USED BY A CONSUMER TO ACQUIRE A LOAN WITH A
 TERM OF LESS THAN ONE MONTH SHALL IMPOSE A FEE ON A CONSUMER  FOR  USING
 SUCH  INTERNET WEBSITE OR MOBILE APPLICATION TO ACQUIRE SUCH LOAN UNLESS
 THE INTERNET WEBSITE OR MOBILE APPLICATION  PROVIDES  NOTICE  OF  A  FEE
 BEING  CHARGED  AND THE CONSUMER ELECTS TO CONTINUE WITH THE TRANSACTION
 AFTER RECEIVING SUCH NOTICE. THE NOTICE PROVIDED BY THE INTERNET WEBSITE
 OR MOBILE APPLICATION SHALL CLEARLY STATE: (I) THAT A FEE IS IMPOSED FOR
 THE USE OF SUCH INTERNET WEBSITE OR MOBILE APPLICATION; (II) THE  AMOUNT
 OF SUCH FEE; (III) THAT THE CONSUMER MAY CANCEL SUCH TRANSACTION WITHOUT
 BEING  ASSESSED  A  FEE; AND (IV) IF A FEE IS NOT REQUIRED TO BE PAID TO
 COMPLETE THE TRANSACTION BUT THE CONSUMER IS SUGGESTED  TO  PAY  A  FEE,
 THAT THE CONSUMER MAY CHOOSE NOT TO PAY THE FEE AND CONTINUE TO COMPLETE
 THE TRANSACTION.
   2. EVERY VIOLATION OF THIS SECTION SHALL BE DEEMED A DECEPTIVE ACT AND
 PRACTICE SUBJECT TO ENFORCEMENT UNDER ARTICLE TWENTY-TWO-A OF THIS CHAP-
 TER.
   3.  NOTHING  IN  THIS SECTION SHALL BE CONSTRUED TO RESTRICT ANY RIGHT
 WHICH ANY PERSON MAY HAVE UNDER ANY OTHER STATUTE OR THE COMMON LAW.
   § 2. This act shall take effect on the thirtieth day  after  it  shall
 have become a law.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02735-01-5

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