Relates to prohibiting the inclusion of a confession of judgment in a contract or agreement for a financial product or service

Latest action May 7, 2026

Prohibits the inclusion of a confession of judgment in a contract or agreement for a financial product or service.

Not chosen yet

Where it stands

Passed one of the two chambers; it still needs the other.

Introduced
In committee
Up for a vote
Passed one chamber
Passed
Enacted

New York State Senate

Same as A4327, the matching bill in the Assembly.

Amends the General Business Law.

Committee

Banks · New York State Assembly

Also referred to Banks · New York State Senate, Codes · New York State Assembly, Codes · New York State Senate, Consumer Protection · New York State Senate.

Purpose, from the sponsor's memo

To prohibit "confessions of judgment" in any contract or agreement for a financial product or service.

Filed with the bill. Read it on nysenate.gov (opens in a new tab)

Recorded votes

Vote: Floor vote
NY SenateMay 7, 2026Result: passed
(43) (18) (0) (2)
Vote: Committee vote · Consumer Protection
Senate Consumer ProtectionApr 28, 2026Result: passed
(6) (1) (0) (0)
Vote: Floor vote
NY SenateApr 3, 2025Result: passed
(42) (18) (0) (3)
Vote: Committee vote · Consumer Protection
Senate Consumer ProtectionFeb 11, 2025Result: passed
(7) (0) (0) (0)

Cosponsors

Al Taylor, Chris Burdick and 9 more on Agora

Democratic11

See the full list on nysenate.gov

The sponsor's argument

Why James Sanders Jr. says this is needed

A confession of judgment is a legal document that allows a party to obtain a judgment without the need to bring a lawsuit. Confessions of judgment are frequently abused by lenders to circumvent legal court proceedings and claim, often without proof, that a debtor has failed to meet their payment obligations. This allowed creditors to legally seize assets of borrowers without a court proceeding, financial- ly ruining tens of thousands of small businesses, including some of whom did not default on their loans. This bill will protect small businesses from predatory lenders that often offer loans and cash advances on the pre-condition that they sign a confession of judgment.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.

Full history

May 7, 2026
Sent to the executive
DELIVERED TO ASSEMBLY
NY Senate
May 7, 2026
Passed a chamber
PASSED SENATE
NY Senate
May 7, 2026
Referred to committee
REFERRED TO CODES
NY Assembly
May 4, 2026
Advanced to Third Reading
ADVANCED TO THIRD READING
NY Senate
Apr 29, 2026
2ND Report CAL.
2ND REPORT CAL.
NY Senate

Show full history (14 earlier events)

Apr 28, 2026
1ST Report CAL.831
1ST REPORT CAL.831
NY Senate
Jan 7, 2026
Ordered to Third Reading CAL.124
ORDERED TO THIRD READING CAL.124
NY Assembly
Jan 7, 2026
Referred to committee
REFERRED TO CONSUMER PROTECTION
NY Senate
Apr 3, 2025
Sent to the executive
DELIVERED TO ASSEMBLY
NY Senate
Apr 3, 2025
Passed a chamber
PASSED SENATE
NY Senate
Apr 3, 2025
Referred to committee
REFERRED TO CODES
NY Assembly
Mar 6, 2025
Advanced to Third Reading CAL.51
ADVANCED TO THIRD READING CAL.51
NY Assembly
Mar 4, 2025
Reported out of committee
REPORTED
NY Assembly
Feb 25, 2025
Reported out of committee
REPORTED REFERRED TO CODES
NY Assembly
Feb 24, 2025
Advanced to Third Reading
ADVANCED TO THIRD READING
NY Senate
Feb 12, 2025
2ND Report CAL.
2ND REPORT CAL.
NY Senate
Feb 11, 2025
1ST Report CAL.318
1ST REPORT CAL.318
NY Senate
Feb 4, 2025
Referred to committee
REFERRED TO BANKS
NY Assembly
Jan 29, 2025
Referred to committee
REFERRED TO CONSUMER PROTECTION
NY Senate

About this record

Summary: The summary comes from NY Open Legislation, the New York State Senate's public record. For more, see How we handle summaries.
Cosponsors: The list shows the cosponsors who are on Agora, A to Z. The official record may list more.
Party colors: Parties are shown in the same neutral colors.
Source: From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Nov 1, 2026. About our data

Read the record

Read on NY Senate (opens in a new tab) The official record on nysenate.gov.

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