N.Y. Banking Law § 744: Acts prohibited

* § 744. Acts prohibited. 1. No buy-now-pay-later lender shall take or

cause to be taken any confession of judgment or any power of attorney to

confess judgment or to appear for the consumer in a judicial proceeding.

2. No buy-now-pay-later lender shall:

(a) employ any scheme, device, or artifice to defraud or mislead a

borrower;

(b) engage in any deceptive or unfair practice toward any person or

misrepresent or omit any material information in connection with the

buy-now-pay-later loans, including, but not limited to, misrepresenting

the amount, nature or terms of any fee or payment due or claimed to be

due on the loan, the terms and conditions of the loan agreement or the

borrower's obligations under the loan;

(c) misapply payments to the outstanding balance of any buy-now-pay-

later loan or to any related fees;

(d) provide inaccurate information to a consumer reporting agency; or

(e) make any false statement or make any omission of a material fact

in connection with any information or reports filed with a governmental

agency or in connection with any investigation conducted by the

superintendent or another governmental agency.

* NB Effective upon the one hundred eightieth day after the

promulgation of rules and/or regulations by the department of financial

services to effectuate certain provisions (see Ch. 58 of 2025, Part Y, §

13)