New York Assembly Bill A04459

New York 2025-2026 Regular Session

• Introduced: 2/4/25
• Refer: 2/4/25
• Refer: 1/7/26

Caption

Enacts provisions relating to the lease of credit card terminals; requires disclosures; prohibits certain practices.

Summary

Bill A04459 aims to amend the General Business Law in New York by introducing new provisions related to the leasing of credit card terminals. It mandates that individuals soliciting finance leases for credit card terminals must provide clear and accurate disclosures regarding their relationship to the owners and service providers of the terminals, as well as their authority to negotiate lease terms. The bill also requires that finance leases be written in a legible format and specify essential lease terms, including total costs and any penalties associated with the lease.

Impact

The bill will enhance consumer protection for businesses leasing credit card terminals by ensuring transparency in lease agreements. It establishes clear guidelines for disclosures and prohibits misleading practices in the solicitation of leases. This legislation may lead to changes in how leasing companies operate and may require them to revise their contracts and communication practices to comply with the new requirements.

Sentiment

The sentiment around Bill A04459 appears to be generally supportive, as it addresses significant consumer protection issues. However, there may be concerns from leasing companies regarding the potential increase in regulatory burdens and the implications of the required disclosures on their business practices.

Contention

Notable points of contention may arise from leasing companies who could argue that the additional disclosure requirements and the prohibition on certain practices may hinder their business operations. There may also be discussions about the balance between consumer protection and the operational flexibility of leasing companies.