Prohibits certain financial institutions from charging a fee based on the frequency of payments or for changing the frequency of mortgage payments
Summary
Prohibits certain financial institutions from charging a fee for making monthly, semi-monthly, and biweekly payments or for changing the frequency of mortgage payments.
Bill status
passed both
4 of 5 stages cleared
Introduction
Jan 2026
Committee Review
May 2026
Assembly Passage
May 2026
Senate Passage
May 2026
Governor
Introduced Jan 21, 2026
Last action May 29, 2026
Maddy AI version diff · 2 comparisons
What changed between versions
A9588A
→
A9588B
·
3 edits
MINOR
The bill was amended to add two new sponsors, Levenberg and Hyndman, and updated the committee history to reflect that the bill was reported again with amendments. A technical correction was made to the definition of 'mortgage payment servicer,' changing the reference from 'article twelve-C' to 'article twelve-D' of the Banking Law. The substantive policy provisions regarding prohibited fees and payment schedule changes remain unchanged.
Scope change
The bill's scope and applicability are unchanged; the amendment only adds sponsors and corrects a statutory citation.
ELIGIBILITY
Added two new sponsors, Assembly Members Levenberg and Hyndman, to the list of bill introducers.
TECHNICAL
Corrected a citation in the definition of 'mortgage payment servicer' from 'article twelve-C' to 'article twelve-D' of the Banking Law.
Updated the committee history line to indicate the bill was 'again reported from said committee with amendments'.
Floor votes · Senate May 29, 2026 · Assembly May 28, 2026
How they voted
38–20
Passed · 5 other
Total votes 63
May 29, 2026
D
Democratic41
87% Yea
R
Republican22
90% Nay
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
15
Key actions
6
Committee
3
Amendments
4
May 29, 2026
Upper · Passed
PASSED SENATE
upper
May 28, 2026
Committee
REFERRED TO BANKS
upper
May 28, 2026
Lower · Passed
PASSED ASSEMBLY
lower
Apr 6, 2026
Lower · Passed
PRINT NUMBER 9588B
lower
Apr 6, 2026
Lower · Passed
AMEND AND RECOMMIT TO CODES
lower
Mar 24, 2026
Committee
REPORTED REFERRED TO CODES
lower
Mar 18, 2026
Lower · Passed
PRINT NUMBER 9588A
lower
Mar 18, 2026
Lower · Passed
AMEND (T) AND RECOMMIT TO BANKS
lower
Jan 21, 2026
Committee
REFERRED TO BANKS
lower
1 primary · 7 co-sponsors
Sponsors
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