Monthly Archives: March 2023

New NY DFS Regulations on Small Non-Bank Loans

Posted by admin & filed under Corporate, Loans.

On December 23, 2020, then Governor Andrew Cuomo signed N.Y. CLS Fin. Serv. ยงยง 801-812 (the “Law”) mandating truth-in-lending style disclosure for small non-bank loans of $2.5 million or less, but only going into effect when final regulations under the Law are published. The N.Y. Department of Financial Services (the “DFS”) adopted final regulations on… Read more »