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NY A00977
Bill
Status
1/6/2021
Primary Sponsor
Harvey Epstein
Click for details
AI Summary
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Amends a 2020 law requiring the Department of Financial Services to study lending practices by financial institutions to landlords acquiring property with rent-regulated and/or small business tenants.
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Modifies the study requirement to clarify that the department shall review the lending process "to the extent such information is available to the department."
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Directs the study to examine trends in predatory equity by type of lender, range of building sizes, and other relevant criteria.
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Takes effect on the same date and in the same manner as the underlying 2020 law (as proposed in S.1476-B and A.3275-B).
Legislative Description
Provides that the the department of financial services shall use the information made available to them for the study of which financial institutions provide loans to landlords acquiring or refinancing property that includes rent-regulated and/or small business tenants.
Last Action
substituted by s887
2/10/2021