A00156 Summary:

BILL NOA00156A
 
SAME ASSAME AS S00606-A
 
SPONSORNolan (MS)
 
COSPNSRJacobs, Jaffee, Miller, Dinowitz, Millman, Weprin, O'Donnell, Abinanti
 
MLTSPNSRCook, Crespo, Glick, Ortiz, Perry, Weinstein
 
Add S652-c, Bank L
 
Requires transmitters of money to provide a warning which informs consumers of certain fraudulent activities that may occur.
Go to top    

A00156 Actions:

BILL NOA00156A
 
01/09/2013referred to banks
06/10/2013amend and recommit to banks
06/10/2013print number 156a
06/13/2013reported referred to codes
06/17/2013reported referred to rules
06/18/2013reported
06/18/2013rules report cal.398
06/18/2013ordered to third reading rules cal.398
01/08/2014referred to banks
02/11/2014reported referred to codes
02/26/2014reported
02/27/2014advanced to third reading cal.463
Go to top

A00156 Floor Votes:

There are no votes for this bill in this legislative session.
Go to top

A00156 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         156--A
 
                               2013-2014 Regular Sessions
 
                   IN ASSEMBLY
 
                                       (Prefiled)
 
                                     January 9, 2013
                                       ___________
 
        Introduced by M. of A. NOLAN, JACOBS, JAFFEE, MILLER, DINOWITZ, MILLMAN,
          WEPRIN,  O'DONNELL  --  Multi-Sponsored  by  -- M. of A. COOK, CRESPO,
          GABRYSZAK, GLICK, ORTIZ, PERRY  --  read  once  and  referred  to  the
          Committee  on  Banks  --  committee  discharged, bill amended, ordered

          reprinted as amended and recommitted to said committee
 
        AN ACT to amend the banking law, in relation to  requiring  transmitters
          of money to provide a certain warning to consumers
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. The banking law is amended by adding a new section 652-c to
     2  read as follows:
     3    § 652-c. Required warning. 1.   A person engaged in  the  business  of
     4  receiving  money for transmission or transmitting money by wire or elec-
     5  tronic transfer which, at the request of an individual who in person, by
     6  telephone or electronic means transmits funds to another  person,  busi-
     7  ness or entity, shall clearly and prominently warn the person requesting

     8  the  transmission  prior  to completing such transmission of funds. Such
     9  warning shall include, but not be limited to, the following information:
    10    (a) a title in bold, capital letters  saying  "Warning:  do  not  fall
    11  victim to consumer fraud;"
    12    (b)  questions  or information that alert a consumer about the dangers
    13  of sending funds for lottery winnings, credit card guarantees or  loans,
    14  internet  or phone offers, to persons unknown to the consumer or persons
    15  whose identity the consumer cannot verify and any other fraud alert; and
    16    (c) information about how to ask  questions  of  the  sales  clerk  or
    17  representative; and
    18    (d) information about how to stop a transfer.

    19    2.  For the purposes of this section, "clearly and prominently" means:
    20  (a) in written communications, including print and those made through an
    21  electronic medium (such as video and interactive  media  including,  but
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00134-02-3

        A. 156--A                           2
 
     1  not  limited to, the internet, online services, and electronic mail) the
     2  warning shall appear on the same form as the form used to authorize  the
     3  transmission  of  funds, shall be in a type size sufficiently noticeable

     4  for  an ordinary consumer to read and comprehend the written warning and
     5  shall be in a type that contrasts with the background against which  the
     6  written  warning  appears;  and  (b) in oral communications, the warning
     7  shall be delivered in a volume and cadence sufficient  for  an  ordinary
     8  consumer to hear and comprehend. If any communication is presented sole-
     9  ly  through  oral,  written  or  visual means, the warning shall be made
    10  through the same means.
    11    3. The warning required by this section shall not apply  to  an  elec-
    12  tronic  funds  transfer  in  which funds are not transferred directly to
    13  another person and are not available for immediate use,  nor  shall  any
    14  warning  be  required  in  an electronic funds transfer made with a gift

    15  certificate as defined in section  three  hundred  ninety-six-i  of  the
    16  general business law.
    17    4.  A  violation of the provisions of this section shall be punishable
    18  by a civil penalty of not more than two hundred fifty  dollars  for  the
    19  first violation and five hundred dollars for each subsequent violation.
    20    § 2. This act shall take effect on the one hundred eightieth day after
    21  it shall have become a law.
Go to top