Prohibits state chartered banking institutions from providing financing to landlords who have engaged in certain bad faith acts.

New York A04582 amends the banking law to prohibit state chartered banking institutions from providing financing to landlords engaged in bad faith acts. Such acts include being convicted of illegal conduct against tenants, fraudulent refinancing, tax fraud, embezzlement, or other financial theft. It also includes entering into a consent decree with the attorney general for unfair or deceptive practices against tenants, which establishes a tenant restitution fund. The act applies to all contracts entered into, renewed, modified, or amended after its effective date.

Prohibits state chartered banking institutions from providing financing to landlords who have engaged in certain bad faith acts.

New York A04582 amends the banking law to prohibit state chartered banking institutions from providing financing to landlords engaged in bad faith acts. Such acts include being convicted of illegal conduct against tenants, fraudulent refinancing, tax fraud, embezzlement, or other financial theft. It also includes entering into a consent decree with the attorney general for unfair or deceptive practices against tenants, which establishes a tenant restitution fund. The act applies to all contracts entered into, renewed, modified, or amended after its effective date.