A 10133 New York Assembly · 2025 Regular Session

Relates to personal loans and short-term lending conditions

This bill (A 10133) regulates short-term personal loans in New York State. It defines "personal loans" as unsecured loans under $3,000 with 3-12 month terms (paid in equal installments), excluding certain types like mortgage-backed loans or credit card debt. The law applies to lenders making these loans to New York residents or visitors, while exempting banks, credit unions, federal housing programs, and nonprofit housing lenders. Key provisions prohibit lenders from evading regulations through "true lender" loopholes (e.g., using shell companies to avoid oversight) and require compliance with New York’s financial laws. It does not apply to commercial loans or loans made before the law’s effective date.

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2026

Committee Review

Floor Vote

Governor

Introduced Feb 3, 2026 Last action Feb 25, 2026

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What changed between versions

A10133 → A10133A · 6 edits

MODERATE

The bill was amended to refocus its purpose from prohibiting predatory loan evasion practices to regulating personal loans and short-term lending conditions. The substantive changes include renaming the new section, updating the bill title, and significantly redefining key terms like 'personal loan' and 'lender' to better target specific lending arrangements while clarifying exemptions for regulated financial institutions.

Scope change

The bill's scope shifted from a general prohibition on predatory loan evasion to a more specific focus on personal loans and short-term lending, with clearer definitions of what constitutes a 'personal loan' and who qualifies as a 'lender'.

SCOPE

The bill title and section name were changed from 'Prohibition on predatory loan evasion practices' to 'personal loans and short-term lending conditions' to reflect the updated focus.

DEFINITION

New definition of 'personal loan' was added to specify it applies to money or credit for household or personal use, including various transaction mediums, while explicitly excluding credit cards, mortgages, and other regulated credit.

The 'lender' definition was expanded to include affiliates and subsidiaries, and to clarify that acting as an agent does not exempt someone from being considered a lender if they hold economic interests or control the loan program.

ELIGIBILITY

The list of exempt organizations was updated to include more specific financial institution types and reference to specific articles of the personal property law.

REQUIREMENT

Specific provisions about interest rate limits and the prohibition on designating another party as lender to evade requirements were removed from the text.

TECHNICAL

The bill number was updated from 'A10133' to 'A10133--A' to indicate it has been amended and reprinted.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Feb 25, 2026

Committee

REPORTED REFERRED TO CODES

lower

Feb 4, 2026

Lower · Passed

PRINT NUMBER 10133A

lower

Feb 4, 2026

Lower · Passed

AMEND (T) AND RECOMMIT TO BANKS

lower

Feb 3, 2026

Committee

REFERRED TO BANKS

lower

1 primary · 0 co-sponsors