Relates to business protection for point-of-sale equipment leases

Bill A 4459 creates new rules for businesses leasing credit card terminals (point-of-sale equipment) in New York. It requires leasing companies to clearly disclose key terms in plain language, including total costs, monthly payments, fees, and the terminal’s make/model before signing a lease. Businesses gain a 3-day right to cancel a lease after receiving the signed agreement, and leasing companies must separately outline payment processing services if bundled. Violations carry $5,000 civil penalties per offense. The bill directly affects small businesses that lease credit card machines for daily transactions.