Extends the interest rate caps and criminal usury framework to covered services including but not limited to, retail installment contracts, merchant cash advances, invoice financing, revenue-based financing, or any transaction that in substance functions as the advance of funds in exchange for a future payment or obligation, regardless of the label assigned to such transaction.

Statutes affected:
S10127: 5-501 general obligations law, 14-a banking law, 14-a(2) banking law, 190.40 penal law, 190.42 penal law