A 9644 New York Assembly · 2025 Regular Session

Relates to the interest rate cap on cash advances against wages or salary

This bill clarifies that all wage and cash advances against future pay are treated as loans subject to existing interest rate caps. It explicitly defines "loan" to include advances on earned but unpaid wages and requires that all fees, tips, and subscription costs associated with these advances count toward the interest limit. The legislation aims to prevent lenders from charging excessive fees on payday-style loans by ensuring all costs are included in interest calculations.

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2026

Committee Review

Floor Vote

Governor

Introduced Jan 21, 2026 Last action Mar 11, 2026

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What changed between versions

A9644 → A9644A · 5 edits

MODERATE

The bill was amended to clarify its title and legislative intent, ensuring the law covers all wage and cash advances under the interest rate cap. A key technical change updated the definition of 'loan' to remove redundant language about 'potential source of money' and corrected the agency name from 'superintendent of financial' to 'superintendent of financial services'. The amendment also expanded the list of fees included in finance charges to explicitly mention tips and subscription costs.

Scope change

The scope of the bill remains focused on protecting borrowers from excessive interest rates on wage advances, but the definitions were refined to align with current banking regulations.

DEFINITION

The definition of 'loan' was slightly shortened to remove the phrase 'or potential source of money' while retaining coverage of future pay and earned wages.

The agency name was corrected from 'superintendent of financial' to 'superintendent of financial services' to match the official title.

REQUIREMENT

The list of amounts counted as finance charges was updated to explicitly include 'tips and subscription costs' alongside fees and charges.

TECHNICAL

The bill title was changed from 'Stop Taking Our Pay Act' to 'stop taking our pay act' to use lowercase letters.

A new 'Legislative intent' heading was added to Section 2 to formally structure the purpose statement.

Floor votes

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Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Mar 11, 2026

Lower · Passed

PRINT NUMBER 9644A

lower

Mar 11, 2026

Lower · Passed

AMEND (T) AND RECOMMIT TO BANKS

lower

Jan 21, 2026

Committee

REFERRED TO BANKS

lower

1 primary · 12 co-sponsors