N.Y. BNK Law § 129-A
This is the official text of N.Y. BNK Law § 129-A, part of New York’s BNK Law — part of the compiled statutory law of New York, published by the state as "BNK Law." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Requirement of written notification; alternative payment schedules
Official statutory text
§ 129-a. Requirement of written notification; alternative payment\nschedules. In the event that any bank or trust company shall permit a\ncustomer to establish an alternative payment schedule for an existing\nloan, the bank or trust company shall provide written notification that\naccepting such alternative payment schedule may have a negative impact\non such customer's credit score or rating. Such notification shall be\nprovided at the time a loan application is made, at the time a loan is\ngranted and at the time a customer requests that an alternative payment\nschedule be established for a loan, but prior to the actual\nestablishment of an alternative payment schedule.\n
Status: in_force · Read it on the official government site
Need a lawyer in New York?
Find a New York lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.