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NY S09366
Bill
Status
Introduced
5/14/2024
Primary Sponsor
James Sanders
Click for details
AI Summary
- Amends the Financial Services Law by adding new section 813
- Exempts commercial financing providers from liability when the actual annual percentage rate differs from the estimated annual percentage rate disclosed to customers
- Requires that the provider act in good faith and comply with applicable Financial Services Law requirements and Department rules and regulations
- Takes effect immediately upon enactment
Legislative Description
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.
Last Action
SUBSTITUTED BY A9463
6/5/2024
Committee Referrals
Banks5/14/2024
Full Bill Text
No bill text available