New York legislation · 2025-2026 General Assembly
New York S3789: Relates to civil penalties for certain fraud or misrepresentation of a material fact with respect to a financial product or service
Status: In committee, June 5, 2026
Relates to civil penalties for certain fraud or misrepresentation of a material fact with respect to a financial product or service.
What the bill says
An act to amend the financial services law, in relation to civil penalties for certain fraud or misrepresentation of a material fact with respect to a financial product or service.
From the amended text, June 2, 2026:
AN ACT to amend the financial services law, in relation to civil penalties for certain fraud or misrepresentation of a material fact with respect to a financial product or service THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS: Section 1. Paragraph 1 of subsection (a) of section 408 of the financial services law is amended and a new subsection (c) is added to read as follows: (1) not to exceed five thousand dollars per offense, for: (A) (I) any [intentional] fraud [or intentional misrepresentation] WITH RESPECT TO A FINANCIAL PRODUCT OR SERVICE OR INVOLVING ANY PERSON OFFERING TO PROVIDE OR PROVIDING FINANCIAL PRODUCTS OR SERVICES; OR (II) ANY REPRESENTATION OR OMISSION of a material fact with respect to a financial product or service or involving any person offering to provide or providing financial products or services THAT MISLEADS OR IS LIKELY TO MISLEAD A CONSUMER WHEN THE CONSUMER'S INTERPRETATION OF THE REPRESENTATION OR OMISSION IS REASONABLE UNDER THE CIRCUMSTANCES; [or] (B) any violation of state or federal fair debt collection practices or federal or state fair lending laws; OR (C) ANY ACT OR PRACTICE matter in brackets [ ] is old law to be omitted. LBD05052-09-6 S. 3789--C 2 (I) CAUSES OR IS LIKELY TO CAUSE SUBSTANTIAL INJURY TO CONSUMERS WHICH …
Sponsors
- Zellnor Myrie (D, 20) · primary sponsor
Latest actions
- : COMMITTED TO RULES
- : AMENDED ON THIRD READING 3789C
- : AMENDED ON THIRD READING 3789B
- : ADVANCED TO THIRD READING
- : 2ND REPORT CAL.
- : 1ST REPORT CAL.1027
- : REFERRED TO BANKS
- : COMMITTED TO RULES
- : AMENDED ON THIRD READING 3789A
- : ADVANCED TO THIRD READING
Votes
- Senate Banks Committee: COMMITTEE Vote (May 12, 2026): 5 yea, 2 nay, passed
- Banks Committee Vote (May 12, 2026): 5 yea, 2 nay, passed
- Senate Banks Committee: COMMITTEE Vote (February 25, 2025): 5 yea, 2 nay, passed
- Banks Committee Vote (February 25, 2025): 5 yea, 2 nay, passed
Subjects: Financial Services Law
Common questions
- What is S3789?
- S3789 is a bill in the New York Legislature (2025-2026 General Assembly): Relates to civil penalties for certain fraud or misrepresentation of a material fact with respect to a financial product or service.
- What does S3789 do?
- In its own words: An act to amend the financial services law, in relation to civil penalties for certain fraud or misrepresentation of a material fact with respect to a financial product or service.
- What is the status of S3789?
- In committee as of June 5, 2026. Latest action: COMMITTED TO RULES (June 5, 2026).
- Who sponsored S3789?
- Zellnor Myrie (D, 20).
- Where is the official record for S3789?
- On the New York Legislature website: https://www.nysenate.gov/legislation/bills/2025/S3789
Source: official New York record. Tracked by Delilah, AI for legislation across all 50 states and Congress.