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NY S00887
Bill
Status
2/16/2021
Primary Sponsor
Brad Hoylman-Sigal
Click for details
AI Summary
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Amends a 2020 law directing 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 specify that the Department shall review lending practices "to the extent such information is available to the department."
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Maintains the study's focus on examining trends by lender type, building size, and other criteria, with particular attention to predatory equity practices.
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Takes effect on the same date and in the same manner as the original 2020 law (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
SIGNED CHAP.49
2/16/2021