Senate BillIntroduced
S 4604: Relates to the application of certain provisions relating to commercial financing; provides that liability shall not be imposed on a provider if the actual annual percentage rate charged by the provider differs from the estimated annual percentage rate disclosed by the provider acting in good faith.
What S 4604 does, verified June 5, 2026
The bill aims to amend the financial services law to protect providers of commercial financing from liability due to actual annual percentage rates differing from the estimated rates disclosed. The bill ensures that providers are not held liable for discrepancies between the actual and estimated rates, as long as they act in good faith and comply with department rules and regulations. The amendments take effect immediately, providing relief to providers of commercial financing.
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 4604
- What is the current status of S 4604?
- As of June 5, 2026, S 4604 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 4604 pass?
- Not yet. S 4604 has been introduced and has not passed either house.
- Who wrote S 4604, and where is it now?
- S 4604 was authored by Sen. James Sanders.
Author and sponsors
Full contact details, staff, and committees with Connect, $16/moUnlockRecent actions6 total · showing 5
| Jun. 05, 2026 | COMMITTED TO RULES |
| May. 04, 2026 | ADVANCED TO THIRD READING |
| Apr. 29, 2026 | 2ND REPORT CAL. |
| Apr. 28, 2026 | 1ST REPORT CAL.855 |
| Jan. 07, 2026 | REFERRED TO BANKS |
Latest bill textIntroduced version, February 10, 2025 · 192 words
STATE OF NEW YORK ________________________________________________________________________ 4604 2025-2026 Regular Sessions IN SENATE February 10, 2025 ___________ Introduced by Sen. SANDERS -- 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 the applica- tion of certain provisions relating to commercial financing 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 2 section 813 to read as follows: 3 § 813. Application. The requirements of this article shall not impose 4 any liability on a provider as a result of the actual annual percentage 5 rate charged by the provider differing from the estimated annual 6 percentage rate disclosed by the provider acting in good faith and in 7 conformity with this article and applicable department rules and regu- 8 lations. 9 § 2. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD08928-01-5
Text of S 4604 as introduced, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions