New York · 2025 Regular Session · Bill
S 10127: Extends the interest rate caps and criminal usury framework to covered services
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
S 10127 is a bill introduced in the New York Senate on April 30, 2026. According to its official title, it concerns: Extends the interest rate caps and criminal usury framework to covered services. Primary sponsor: Rachel May (Democratic/Working Families). Most recent recorded action (April 30, 2026): REFERRED TO JUDICIARY.
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
Extends the interest rate caps and criminal usury framework to covered services including but not limited to, retail installment contracts, merchant cash advances, invoice financing, revenue-based financing, or any transaction that in substance functions as the advance of funds in exchange for a future payment or obligation, regardless of the label assigned to such transaction.
Sponsors
Sponsors by party (alphabetical): Democratic/Working Families 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Rachel May | Primary sponsor | Democratic/Working Families | Senate | 48 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- REFERRED TO JUDICIARY