New York legislation · 2025-2026 General Assembly
New York S4604: Relates to the application of certain provisions relating to commercial financing
Status: In committee, June 5, 2026
Relates to the application of certain provisions relating to commercial financing; provides that liability shall not be imposed on a provider if the actual annual percentage rate charged by the provider differs from the estimated annual percentage rate disclosed by the provider acting in good faith.
What the bill says
An act to amend the financial services law, in relation to the application of certain provisions relating to commercial financing.
From the introduced text, February 10, 2025:
AN ACT to amend the financial services law, in relation to the application of certain provisions relating to commercial financing THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS: Section 1. The financial services law is amended by adding a new section 813 to read as follows: § 813. APPLICATION. THE REQUIREMENTS OF THIS ARTICLE SHALL NOT IMPOSE ANY LIABILITY ON A PROVIDER AS A RESULT OF THE ACTUAL ANNUAL PERCENTAGE RATE CHARGED BY THE PROVIDER DIFFERING FROM THE ESTIMATED ANNUAL PERCENTAGE RATE DISCLOSED BY THE PROVIDER ACTING IN GOOD FAITH AND IN CONFORMITY WITH THIS ARTICLE AND APPLICABLE DEPARTMENT RULES AND REGULATIONS. § 2. This act shall take effect immediately. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08928-01-5
Sponsors
- James Sanders (D, 10) · primary sponsor
Latest actions
- : COMMITTED TO RULES
- : ADVANCED TO THIRD READING
- : 2ND REPORT CAL.
- : 1ST REPORT CAL.855
- : REFERRED TO BANKS
- : REFERRED TO BANKS
Votes
- Senate Banks Committee: COMMITTEE Vote (April 28, 2026): 6 yea, 1 nay, passed
- Banks Committee Vote (April 28, 2026): 6 yea, 1 nay, passed
Subjects: Financial Services Law
Common questions
- What is S4604?
- S4604 is a bill in the New York Legislature (2025-2026 General Assembly): Relates to the application of certain provisions relating to commercial financing.
- What does S4604 do?
- In its own words: An act to amend the financial services law, in relation to the application of certain provisions relating to commercial financing.
- What is the status of S4604?
- In committee as of June 5, 2026. Latest action: COMMITTED TO RULES (June 5, 2026).
- Who sponsored S4604?
- James Sanders (D, 10).
- Where is the official record for S4604?
- On the New York Legislature website: https://www.nysenate.gov/legislation/bills/2025/S4604
Source: official New York record. Tracked by Delilah, AI for legislation across all 50 states and Congress.