New York A 4829: Relates to the conduct of public hearings by the metropolitan transportation authority

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A04829 Summary:

BILL NOA04829 

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SAME ASNo Same As

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SPONSORO'Pharrow

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COSPNSR

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MLTSPNSR

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Amd §§595 & 595-a, Bank L

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Relates to penalties for violations of article fifteen of the executive law committed by mortgage bankers and mortgage brokers; includes such violations as grounds for suspension or revocation of license or registration.

Go to top A04829 Actions:

BILL NOA04829 

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02/06/2025referred to banks

01/07/2026referred to banks

Go to topA04829 Committee&nbspVotes:

Go to topA04829 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA04829 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4829

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 6, 2025
 ___________

 Introduced by M. of A. O'PHARROW -- read once and referred to the
 Committee on Banks

 AN ACT to amend the banking law, in relation to penalties for certain
 violations committed by mortgage bankers and mortgage brokers

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Paragraph (a) of subdivision 1 of section 595 of the bank-
 2 ing law, as amended by chapter 291 of the laws of 2014, is amended to
 3 read as follows:
 4 (a) Through a course of conduct, the licensee or registrant has
 5 violated any provisions of this article, or article fifteen of the exec-
 6 utive law committed in their capacity as a mortgage banker or mortgage
 7 broker, or any rule or regulation promulgated by the superintendent of
 8 financial services under and within the authority of this article or of
 9 any other law, rule or regulation of this state or the federal govern-
 10 ment;
 11 § 2. Paragraphs (g) and (h) of subdivision 1 of section 595-a of the
 12 banking law, paragraph (g) as amended and paragraph (h) as added by
 13 chapter 308 of the laws of 2006, are amended and a new paragraph (i) is
 14 added to read as follows:
 15 (g) Violation of section six-j of this chapter; [and]
 16 (h) Making a mortgage loan, or indirectly or directly providing for
 17 the making of a mortgage loan, to an equity purchaser, as defined in
 18 section two hundred sixty-five-a of the real property law, if the mort-
 19 gage banker, mortgage broker or exempt organization had knowledge that
 20 the equity purchaser was not complying with the provisions of section
 21 two hundred sixty-five-a of the real property law with respect to such
 22 transaction[.]; and
 23 (i) Violation of article fifteen of the executive law committed in
 24 their capacity as a mortgage banker or mortgage broker.
 25 § 3. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD08808-01-5

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