On January 8, the New York State Senate Committee on Rules voted to amend legislation to authorize the New York Department of Financial Services (NYDFS) to conduct a study about online lending. The original legislation, S6593A, signed into law by Governor Cuomo on December 29, 2017, created a seven-person task force responsible for analyzing online lending activity in the state. The proposed amendments to this legislation, S07294 and A8938, which would be effective immediately if passed by both houses of the New York legislature and signed into law, remove the requirement for a task force, and instead authorize NYDFS to direct the study and produce a public report with recommendations prior to July 1. According to the amendments, the study should analyze (i) lending practices of the online lending industry and primary differences between online lenders and traditional lenders; (ii) types of credit products available online; (iii) a review of available complaints, actions and investigations related to online lenders; and (iv) a survey of existing state and federal laws that apply to the online lending industry.