Assembly BillIntroduced
A 7075: Provides that any charges assessed by a credit card company for late payment shall not exceed five percent of the unpaid balance of any bill, including any interest thereon, or twenty dollars, whichever amount is less.
What A 7075 does, verified January 8, 2026
The bill aims to regulate credit card late charges in New York. Credit card companies can no longer charge more than five percent of the unpaid balance or twenty dollars, whichever is less, for late payments. This change is intended to protect consumers from excessive late fees. The new regulation will take effect 90 days after the bill is passed into law.
Bill journey
1IntroducedCurrent
2In CommitteePending
3First Chamber FloorPending
4Second ChamberPending
5GovernorPending
6ChapteredPending
Last action: referred to consumer affairs and protection (2026-01-07)Alert me
Quick answers about A 7075
- What is the current status of A 7075?
- As of January 8, 2026, A 7075 is recorded as "Introduced": it has been introduced and is waiting for its first committee hearing or floor vote. The last recorded action, on January 7, 2026, was "referred to consumer affairs and protection".
- Did A 7075 pass?
- Not yet. A 7075 has been introduced and has not passed either house.
- Who wrote A 7075, and where is it now?
- A 7075 was authored by Asm. Rodneyse Bichotte Hermelyn with 2 coauthors. Its committee of record is Assembly Consumer Affairs & Protection.
Author and sponsors
Full contact details, staff, and committees with Connect, $16/moUnlockRecent actions2 total · showing 2
| Jan. 07, 2026 | referred to consumer affairs and protection |
| Mar. 20, 2025 | referred to consumer affairs and protection |
Latest bill textIntroduced version, March 20, 2025 · 179 words
STATE OF NEW YORK ________________________________________________________________________ 7075 2025-2026 Regular Sessions IN ASSEMBLY March 20, 2025 ___________ Introduced by M. of A. BICHOTTE HERMELYN, GIBBS, KIM -- read once and referred to the Committee on Consumer Affairs and Protection AN ACT to amend the general business law, in relation to credit card late charges The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The general business law is amended by adding a new section 2 518-b to read as follows: 3 § 518-b. Credit card late charges. Any charges assessed by a credit 4 card company for late payment shall not exceed five percent of the 5 unpaid balance of any bill, including any interest thereon, or twenty 6 dollars, whichever amount is less. 7 § 2. This act shall take effect on the ninetieth day after it shall 8 have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD07592-01-5
Text of A 7075 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions