§ 129-a. Requirement of written notification; alternative payment
schedules. In the event that any bank or trust company shall permit a
customer to establish an alternative payment schedule for an existing
loan, the bank or trust company shall provide written notification that
accepting such alternative payment schedule may have a negative impact
on such customer's credit score or rating. Such notification shall be
provided at the time a loan application is made, at the time a loan is
granted and at the time a customer requests that an alternative payment
schedule be established for a loan, but prior to the actual
establishment of an alternative payment schedule.