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Assembly Bill A8409

Signed By Governor

2025-2026 Legislative Session

Extends the effectiveness of provisions of law relating to permissible fees in connection with open end loans

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2025-A8409 (ACTIVE) - Details

See Senate Version of this Bill:
S8292
Law Section:
Banks
Laws Affected:
Amd §3, Chap 223 of 1996
Versions Introduced in 2023-2024 Legislative Session:
A7172, S6920

2025-A8409 (ACTIVE) - Summary

Extends the effectiveness of provisions of law relating to permissible fees in connection with open end loans from June 30, 2025 until June 30, 2027.

2025-A8409 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8409
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               May 14, 2025
                                ___________
 
 Introduced  by  M.  of  A.  SEAWRIGHT  --  read once and referred to the
   Committee on Banks
 
 AN ACT to amend chapter 223 of the laws of 1996 amending the banking law
   relating to permissible fees in connection with  open  end  loans,  in
   relation to extending the effectiveness thereof

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 3 of chapter 223 of the laws of 1996  amending  the
 banking  law  relating  to  permissible fees in connection with open end
 loans, as amended by chapter 155 of the laws of 2023, is amended to read
 as follows:
   § 3. This act shall take effect immediately, and remain in full  force
 and  effect until June 30, [2025] 2027, when, upon such date, the amend-
 ments made by this act shall expire and  be  deemed  repealed,  and  the
 provisions  of law amended by this act shall revert to their text and be
 read as they were immediately prior to the effective date of this act.
   § 2. This act shall take effect immediately.
 
 
 
 

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10845-01-5

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