N.Y. Banking Law § 744

* § 744. Acts prohibited. 1. No buy-now-pay-later lender shall take or\ncause to be taken any confession of judgment or any power of attorney to\nconfess judgment or to appear for the consumer in a judicial proceeding.\n 2. No buy-now-pay-later lender shall:\n (a) employ any scheme, device, or artifice to defraud or mislead a\nborrower;\n (b) engage in any deceptive or unfair practice toward any person or\nmisrepresent or omit any material information in connection with the\nbuy-now-pay-later loans, including, but not limited to, misrepresenting\nthe amount, nature or terms of any fee or payment due or claimed to be\ndue on the loan, the terms and conditions of the loan agreement or the\nborrower's obligations under the loan;\n (c) misapply payments to the outstanding balance of any buy-now-pay-\nlater loan or to any related fees;\n (d) provide inaccurate information to a consumer reporting agency; or\n (e) make any false statement or make any omission of a material fact\nin connection with any information or reports filed with a governmental\nagency or in connection with any investigation conducted by the\nsuperintendent or another governmental agency.\n * NB Effective upon the one hundred eightieth day after the\npromulgation of rules and/or regulations by the department of financial\nservices to effectuate certain provisions (see Ch. 58 of 2025, Part Y, §\n13)\n