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signed · New York · Assembly Dec 23, 2020

A 3275: Directs the department of financial services to study and make recommendations concerning lending practices to landlords acquiring property that includes small business and/or rent-regulated tenants

Directs the department of financial services to study, evaluate and make recommendations concerning lending practices by financial institutions to landlords acquiring property that includes small business and/or rent-regulated tenants; requires a report on the department's findings and recommendations for legislative action within eighteen months.
signed · New York · Senate Dec 23, 2020

S 5470: Requires certain providers that extend specific terms of commercial financing to a recipient to disclose certain information about the offer to the recipient

Requires certain providers that extend specific terms of commercial financing to a recipient to disclose certain information about the offer to the recipient, including information concerning the financing amount, finance charges, the annual percentage rate, the total repayment amount, the term, payment amounts, other potential fees, any prepayment costs and a description of any collateral requirements.
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