| Date of Action |
Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|---|---|
| May 04, 2026 |
advanced to third reading |
| Apr 29, 2026 |
2nd report cal. |
| Apr 28, 2026 |
1st report cal.855 |
| Jan 07, 2026 |
referred to banks |
| Feb 10, 2025 |
referred to banks |
Senate Bill S4604
2025-2026 Legislative Session
Sponsored By
(D) 10th Senate District
Current Bill Status - On Floor Calendar
Actions
Votes
2025-S4604 (ACTIVE) - Details
2025-S4604 (ACTIVE) - Summary
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.
2025-S4604 (ACTIVE) - Sponsor Memo
BILL NUMBER: S4604
SPONSOR: SANDERS
TITLE OF BILL:
An act to amend the financial services law, in relation to the applica-
tion of certain provisions relating to commercial financing
PURPOSE OR GENERAL IDEA OF BILL:
This bill would create a safe harbor from liability for lenders who
comply with financial disclosure requirements in the financial services
law.
SUMMARY OF PROVISIONS:
Section one relates to the application of Section 813 of the Financial
Services Law by creating a safe harbor.
Section two is the effective date.
2025-S4604 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K
________________________________________________________________________
4604
2025-2026 Regular Sessions
I N S E N A T E
February 10, 2025
___________
Introduced by Sen. SANDERS -- read twice and ordered printed, and when
printed to be committed to the Committee on Banks
AN ACT to amend the financial services law, in relation to the applica-
tion of certain provisions relating to commercial financing
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. The financial services law is amended by adding a new
section 813 to read as follows:
§ 813. APPLICATION. THE REQUIREMENTS OF THIS ARTICLE SHALL NOT IMPOSE
ANY LIABILITY ON A PROVIDER AS A RESULT OF THE ACTUAL ANNUAL PERCENTAGE
RATE CHARGED BY THE PROVIDER DIFFERING FROM THE ESTIMATED ANNUAL
PERCENTAGE RATE DISCLOSED BY THE PROVIDER ACTING IN GOOD FAITH AND IN
CONFORMITY WITH THIS ARTICLE AND APPLICABLE DEPARTMENT RULES AND REGU-
LATIONS.
§ 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD08928-01-5
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