N.Y. Banking Law § 129-A
Current through 2024 NY Law Chapter 456
In the event that any bank or trust company shall permit a customer to establish an alternative payment schedule for an existing loan, the bank or trust company shall provide written notification that accepting such alternative payment schedule may have a negative impact on such customer's credit score or rating. Such notification shall be provided at the time a loan application is made, at the time a loan is granted and at the time a customer requests that an alternative payment schedule be established for a loan, but prior to the actual establish- ment of an alternative payment schedule.
N.Y. Banking Law § 129-A