Assembly Bill A4810

2025-2026 Legislative Session

Relates to the application of certain provisions relating to commercial financing

download bill text pdf

Sponsored By

Current Bill Status - In Senate Committee Banks 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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

co-Sponsors

2025-A4810 (ACTIVE) - Details

See Senate Version of this Bill:
S4604
Current Committee:
Senate Banks
Law Section:
Financial Services Law
Laws Affected:
Add §813, Fin Serv L
Versions Introduced in 2023-2024 Legislative Session:
A9463, S9366

2025-A4810 (ACTIVE) - Summary

Relates to the application of certain provisions relating to commercial financing; provides that liability shall not be imposed on a provider if the actual annual percentage rate charged by the provider differs from the estimated annual percentage rate disclosed by the provider acting in good faith.

2025-A4810 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4810
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 6, 2025
                                ___________
 
 Introduced  by  M.  of  A.  VANEL,  BURDICK,  SEAWRIGHT -- read once and
   referred 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:
 
   Section 1. The financial services law  is  amended  by  adding  a  new
 section 813 to read as follows:
   §  813. APPLICATION. THE REQUIREMENTS OF THIS ARTICLE SHALL NOT IMPOSE
 ANY LIABILITY ON A PROVIDER AS A RESULT OF THE ACTUAL ANNUAL  PERCENTAGE
 RATE  CHARGED  BY  THE  PROVIDER  DIFFERING  FROM  THE  ESTIMATED ANNUAL
 PERCENTAGE RATE DISCLOSED BY THE PROVIDER ACTING IN GOOD  FAITH  AND  IN
 CONFORMITY  WITH  THIS ARTICLE AND APPLICABLE DEPARTMENT RULES AND REGU-
 LATIONS.
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08928-01-5

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.