Permitted activities of home improvement contractors in regard to home improvement financing.

A Local Law to amend the administrative code of the city of New York, in relation to the permitted activities of home improvement contractors in regard to home improvement financing.

Under the current NYC Administrative Code, home improvement licensees, when doing home repair or home improvement work, are restricted from facilitating certain financing for that work. Specifically, they are prohibited from acting as an agent for a lender and from advertising, promoting or otherwise arranging for the services of a lender. This bill would remove the prohibition on advertising, promoting or otherwise arranging for the services of a lender but would maintain the prohibition on acting as the agent of a lender and prohibit the advertising or promoting of a single lender.