New York State to Consider Safe Harbor Amendment to Disclosure Law

SFNet instrumental in advocating for new measure

Working with state legislators, SFNet has been successful in getting a new safe harbor amendment introduced. Similar to California, it would provide an explicit safe harbor protecting asset-based lenders and factors who provide a good faith estimate of APR in compliance with the regulations from any liability should that estimate differ from the actual APR. The SFNet Community is encouraged to support the legislation by clicking on “AYE” on this page and filling out the form provided. If you have any questions, please reach out to Michele Ocejo at mocejo@sfnet.com.