S5283 (2023-24 session)
NY State bill
Requires lending institutions that send unsolicited mail-loan checks to clearly state in solicitation letter the interest rate to be applied to such loan and to demonstrate the total cost of loan in a dollar amount, at interest rate, over periods of six months, one year, and three years.
- Title
- Requires lending institutions that send unsolicited mail-loan checks to clearly state the interest rate and the total cost of loan in a dollar amount
- Type
- New York State Senate bill
- Session
- 2023-24 session
- Status
- In Senate Committee
- Latest action date
- 2024-01-03
- In committee
- Banks
- Introduced
- 2023-03-01
- Law section
- Banking Law
Sponsors
- Kevin S. Parker State Senator, District 21
Heard in committee
- Banks NY State Senate committee