Home/Bills/S 3789New York · 2025–2026 Legislative Session

S 3789: Relates to civil penalties for certain fraud or misrepresentation of a material fact with respect to a financial product or service.

New York · Senate · 2025–2026 Legislative Session · last verified June 5, 2026

What S 3789 does, verified June 5, 2026

The bill aims to strengthen penalties for certain fraud or misrepresentation of a material fact with respect to financial products or services in New York. It would specifically target intentional fraud or negligent misrepresentation of a material fact, such as false statements or omissions that can lead to financial harm. The bill would make these actions subject to civil penalties, with the goal of deterring such behavior and protecting consumers. The penalties would take effect immediately, allowing for swift action to be taken against those engaging in such fraudulent activities.

Bill journey

1IntroducedCurrent

2In CommitteePending

3First Chamber FloorPending

4Second ChamberPending

5GovernorPending

6ChapteredPending

Last action: COMMITTED TO RULES (2026-06-05)Alert me

Quick answers about S 3789

What is the current status of S 3789?: As of June 5, 2026, S 3789 is recorded as "Introduced": it has been introduced and is waiting for its first committee hearing or floor vote. The last recorded action, on June 5, 2026, was "COMMITTED TO RULES".
Did S 3789 pass?: Not yet. S 3789 has been introduced and has not passed either house.
Who wrote S 3789, and where is it now?: S 3789 was authored by Sen. Zellnor Myrie.

Author and sponsors

Sen. Zellnor MyrieAuthor · New York State Senate

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Recent actions13 total · showing 5

Jun. 05, 2026	COMMITTED TO RULES
Jun. 02, 2026	AMENDED ON THIRD READING 3789C
May. 19, 2026	AMENDED ON THIRD READING 3789B
May. 14, 2026	ADVANCED TO THIRD READING
May. 13, 2026	2ND REPORT CAL.

Full action history, 8 earlier actionsConnect Plus

Latest bill textIntroduced version, January 30, 2025 · 184 words

    STATE OF NEW YORK ________________________________________________________________________ 3789 2025-2026 Regular Sessions  IN SENATE January 30, 2025 ___________ Introduced by Sen. MYRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Banks AN ACT to amend the financial services law, in relation to civil penal- ties for certain fraud or misrepresentation of a material fact with respect to a financial product or service The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subparagraph (A) of paragraph 1 of subsection (a) of 2 section 408 of the financial services law is amended to read as follows: 3 (A) any [intentional] fraud or [intentional] misrepresentation of a 4 material fact with respect to a financial product or service or involv- 5 ing any person offering to provide or providing financial products or 6 services; or 7 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05052-01-5

Text of S 3789 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions