New York A 11293: Requires covered lenders to report to the department of financial services certain information on covered loans

Bill Text

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A11293 Summary:

BILL NOA11293A

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SAME ASSAME AS S10390-A

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SPONSORRules (Vanel)

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Add Art 8-A §§820 - 827, Fin Serv L

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Requires covered lenders to report to the department of financial services certain information on covered loans; requires the superintendent of financial services to collect and maintain such data and to annually publish a report containing aggregated information regarding covered loans; requires the superintendent of financial services to promulgate rules and regulations to implement such provisions.

Go to top A11293 Actions:

BILL NOA11293A

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05/08/2026referred to banks

05/11/2026reported referred to codes

05/28/2026reported referred to ways and means

06/01/2026amend and recommit to ways and means

06/01/2026print number 11293a

Go to topA11293 Committee&nbspVotes:

Committee:BANKS Chair:Vanel 
DATE:05/11/2026AYE/NAY:19/7 Action: Favorable refer to committee Codes VanelAyeBolognaNay

WeprinAyeMikulinExcused

TaylorAyeSmullenNay

SternAyeFitzpatrickExcused

SayeghAyeLemondesNay

BurkeAyeDiPietroExcused

MitaynesAyeChangNay

SeptimoAbsentChludzinskiNay

TapiaAyeMolitorNay

De Los SantosAye

CunninghamAye

LeeAye

RagaAye

BurdickAbsent

DaisAye

JacksonAye

TorresAye

HooksAye

WiederAye

WrightAye

YegerNay

Chandler-WatermAye

Committee:CODES Chair:Dinowitz 
DATE:05/28/2026AYE/NAY:13/5 Action: Favorable refer to committee Ways and Means DinowitzAyeMorinelloNay

CookExcusedReillyNay

LavineAyeMikulinExcused

WeprinAyeTannousisNay

HevesiAyeAngelinoNay

SeawrightAyeMolitorNay

RosenthalAye

WalkerAye

VanelAbsent

CruzAye

BoresExcused

ReyesAye

CunninghamAye

RomeroAye

AlvarezAye

TaylorAye

Go to topA11293 Floor&nbspVotes:

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

Go to topA11293 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 11293--A

 IN ASSEMBLY

 May 8, 2026
 ___________

 Introduced by COMMITTEE ON RULES -- (at request of M. of A. Vanel) --
 read once and referred to the Committee on Banks -- reported and
 referred to the Committee on Codes -- reported and referred to the
 Committee on Ways and Means -- committee discharged, bill amended,
 ordered reprinted as amended and recommitted to said committee

 AN ACT to amend the financial services law, in relation to reporting of
 covered loans

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

 1 Section 1. The financial services law is amended by adding a new arti-
 2 cle 8-A to read as follows:
 3 ARTICLE 8-A
 4 COVERED LOAN REPORTING
 5 Section 820. Definitions.
 6 821. Reporting required.
 7 822. Form and filing.
 8 823. Annual report.
 9 824. Regulations.
 10 825. Penalties.
 11 826. Severability.
 12 827. Preemption.
 13 § 820. Definitions. For the purposes of this article, the following
 14 terms shall have the following meanings:
 15 (a) (1) "Covered loan" shall mean any extension of money or credit
 16 that exceeds twenty-five thousand dollars or series of extensions of
 17 money or credit made within twelve months to the same borrower that
 18 exceeds an aggregate of twenty-five thousand dollars made to a resident
 19 of this state, for personal use or for commercial purposes, including
 20 commercial financing, in exchange for the borrower's agreement to repay
 21 an amount greater than the amount financed, extended, or purchased
 22 through interest, finance charges, fees, or other compensation for the
 23 use of such money or credit.
 24 (2) "Covered loan" shall not include:

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD15821-02-6

 A. 11293--A 2

 1 (A) open-end credit plans subject to the federal Truth in Lending Act
 2 and Regulation Z that are accessed by the use of a credit card or simi-
 3 lar device intended for repeated transactions;
 4 (B) any extension of credit secured by a mortgage, deed of trust, or
 5 other security interest in real property, including home equity lines of
 6 credit; or
 7 (C) any other extension of credit that is subject to a charter,
 8 license, or regulatory regime under this chapter or other provisions of
 9 New York state law that provides for ongoing supervision, examination,
 1