Bill > A09644

This bill, known as the "Stop Taking Our Pay Act," clarifies that any advance on future wages or income, including cash advances, are considered loans and are therefore subject to the state's interest rate cap. It also explicitly states that "finance charges," which are the costs associated with a loan, include any amount paid or payable in connection with that loan, regardless of how it's labeled or whether it's voluntary, such as tips or subscription costs. This aims to ensure that companies cannot circumvent interest rate limits by disguising these charges as something else.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A9644