States / New York / A 11302

A 11302 In Committee

Extends the interest rate caps and criminal usury framework to covered services

Introduced
In Committee
Floor
Crossed Over
Passed
Enacted

Extends the interest rate caps and criminal usury framework to covered services including but not limited to, retail installment contracts, merchant cash advances, invoice financing, revenue-based financing, or any transaction that in substance functions as the advance of funds in exchange for a future payment or obligation, regardless of the label assigned to such transaction.

Chamber
House
Introduced
May 11, 2026
Last action
May 11, 2026 — REFERRED TO JUDICIARY
Session
2025-2026
Momentum
26 · Low