Bill > A04459

This bill establishes comprehensive consumer protection regulations for credit card terminal leases in New York, requiring businesses that lease payment processing equipment to provide clear, transparent disclosures and follow specific guidelines. The legislation defines a credit card terminal as physical equipment used to accept various types of payment cards and mandates that lessors disclose their business relationships, lease terms, and contact information in writing using at least 12-point font in the primary language of communication. Key provisions include requiring detailed lease agreements that specify total price, monthly payments, penalties, equipment details, and purchase options; ensuring that payment processing services are separate from equipment leases; providing lessees with the right to cancel a lease within three days of receiving the executed document; and prohibiting certain practices like enforcing jurisdiction in inappropriate courts or charging business property taxes that are not actually imposed. The bill also establishes significant enforcement mechanisms, with potential civil penalties of $5,000 per violation and the ability for the attorney general or district attorneys to pursue legal action against violators, ultimately aiming to protect small businesses from predatory leasing practices in the payment processing equipment market.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A4459