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NY A04582
Bill
Status
2/4/2025
Primary Sponsor
Brian Cunningham
Click for details
AI Summary
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Prohibits state-chartered banking institutions from providing financing or investing in any residential landlord convicted of harassment, coercion, or fraud against tenants
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Bars bank investments in landlords convicted of fraudulent refinancing, tax fraud, embezzlement, or other financial crimes
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Prohibits financing for landlords who entered consent decrees with the Attorney General that established tenant restitution funds exceeding $1 million
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Applies investment ban to landlords whose consent decrees resulted in independent property management taking over their properties or required compliance monitors
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Takes effect immediately and applies to all contracts entered into, renewed, modified, or amended after the effective date
Legislative Description
Prohibits a state chartered banking institution from providing financing to a landlord who has engaged in certain bad faith acts.
Last Action
referred to banks
1/7/2026