N.Y. Banking Law § 129-a

§ 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