New York S 9570: Relates to the prohibition of lending institutions issuing unsolicited mail-loan checks

Bill Text

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 Speaker Carl E. Heastie

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S09570 Summary:

BILL NOS09570A

&nbsp

SAME ASSAME AS A09404-A

&nbsp

SPONSORSKOUFIS

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §9-t, Bank L

&nbsp

Relates to the prohibition of lending institutions issuing mail-loan checks except in response to an affirmative request or application therefor; provides that any debt, interest, fee or other obligation arising from a mail-loan check issued in violation of this section shall be null and void and unenforceable.

Go to top S09570 Actions:

BILL NOS09570A

&nbsp

03/25/2026REFERRED TO BANKS

04/01/2026AMEND AND RECOMMIT TO BANKS

04/01/2026PRINT NUMBER 9570A

05/12/20261ST REPORT CAL.1033

05/13/20262ND REPORT CAL.

05/14/2026ADVANCED TO THIRD READING 

06/02/2026SUBSTITUTED BY A9404A

&nbspA09404 AMEND=A Santabarbara

&nbsp12/19/2025referred to banks

&nbsp01/07/2026referred to banks

&nbsp03/18/2026amend and recommit to banks

&nbsp03/18/2026print number 9404a

&nbsp03/24/2026reported referred to codes

&nbsp04/21/2026reported 

&nbsp04/23/2026advanced to third reading cal.372

&nbsp04/28/2026passed assembly

&nbsp04/28/2026delivered to senate

&nbsp04/28/2026REFERRED TO BANKS

&nbsp06/02/2026SUBSTITUTED FOR S9570A

&nbsp06/02/20263RD READING CAL.1033

&nbsp06/02/2026PASSED SENATE

&nbsp06/02/2026RETURNED TO ASSEMBLY

Go to topS09570 Committee&nbspVotes:

Go to topS09570 Floor&nbspVotes:

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

Go to topS09570 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 9570--A

 IN SENATE

 March 25, 2026
 ___________

 Introduced by Sen. SKOUFIS -- read twice and ordered printed, and when
 printed to be committed to the Committee on Banks -- committee
 discharged, bill amended, ordered reprinted as amended and recommitted
 to said committee

 AN ACT to amend the banking law, in relation to the prohibition of lend-
 ing institutions issuing unsolicited mail-loan checks

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

 1 Section 1. Legislative findings. The legislature finds that unsolicit-
 2 ed "live loan checks" can mislead people into taking out loans they
 3 never asked for. These checks often look like refunds or official
 4 payments, but once deposited, they create a loan with high interest and
 5 fees.
 6 Many New Yorkers -- especially seniors, people with disabilities, and
 7 families under financial stress -- are at risk of being harmed by this
 8 practice.
 9 The purpose of this act is to stop lenders from sending these unsolic-
 10 ited checks and to protect consumers from accidentally entering into
 11 unwanted loans.
 12 § 2. Subdivision 3 of section 9-t of the banking law, as amended by
 13 chapter 184 of the laws of 2022, is amended to read as follows:
 14 3. (a) No lending institution shall issue a mail-loan check, except in
 15 response to [a] an affirmative request or application therefor by the
 16 person to whom it is issued.
 17 (b) Issuance of a mail-loan check in response to such request or
 18 application, or issuance of any replacement check, legitimate refund,
 19 rebate, or government-issued check shall not constitute a violation of
 20 paragraph (a) of this subdivision.
 21 § 3. Section 9-t of the banking law is amended by adding two new
 22 subdivisions 6 and 7 to read as follows:
 23 6. Any debt, interest, fee or other obligation arising from a mail-
 24 loan check issued in violation of this section shall be null and void
 25 and unenforceable. No person, including any assignee or debt collector,
 26 shall collect or attempt to collect such obligation, or report such

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD14226-03-6

 S. 9570--A 2

 1 obligation to a credit reporting agency. Any amounts paid by a consumer
 2 in connection with such obligation shall be refunded.
 3 7. No lending institution shall, directly or indirectly, structure,
 4 label or modify any mail-loan check or instrument, or use any device,
 5 subterfuge or pretense, for the purpose of evading the requirements of
 6 this section, including through the use of any affiliate, third-party
 7 service provider, agent or arrangement.
 8 § 4. This act shall take effect on the one hundred eightieth day afte