Creation of a predatory equity lender watch list.

A Local Law to amend the administrative code of the city of New York, in relation to the creation of a predatory equity lender watch list

This bill would require the Department of Housing Preservation and Development (HPD) to create and maintain a watch list of lenders who enable predatory equity through the provision of financial support. The bill would establish a temporary task force to study and recommend criteria to HPD for including lenders on this watch list and would require HPD to publish the list on its website and transmit the predatory equity lender watch list to appropriate regulatory agencies.