A01480 Summary:

BILL NOA01480A
 
SAME ASSAME AS S01109-A
 
SPONSORCarroll
 
COSPNSRReyes
 
MLTSPNSR
 
Amd 380-j, Gen Bus L; amd 352, Bank L
 
Prohibits consumer reporting agencies and lenders from using an individual's late payment of cashless tolls to determine their credit worthiness.
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A01480 Actions:

BILL NOA01480A
 
01/17/2023referred to consumer affairs and protection
05/11/2023amend and recommit to consumer affairs and protection
05/11/2023print number 1480a
05/16/2023reported referred to rules
01/03/2024referred to consumer affairs and protection
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A01480 Committee Votes:

CONSUMER AFFAIRS AND PROTECTION Chair:Rozic DATE:05/16/2023AYE/NAY:10/5 Action: Favorable refer to committee Rules
RozicAyeMikulinNay
FallExcusedMillerNay
BurgosAyeBlumencranzNay
GallagherAyeBeephanNay
RajkumarAyeMaherNay
ForrestAye
WallaceAye
BoresAye
LeeAye
AlvarezAye
SimoneAye

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A01480 Floor Votes:

There are no votes for this bill in this legislative session.
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A01480 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         1480--A
 
                               2023-2024 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 17, 2023
                                       ___________
 
        Introduced  by M. of A. CARROLL -- read once and referred to the Commit-
          tee on Consumer Affairs and Protection -- committee  discharged,  bill
          amended,  ordered reprinted as amended and recommitted to said commit-
          tee
 
        AN ACT to amend the  general  business  law  and  the  banking  law,  in
          relation  to  prohibiting  a  consumer reporting agency or lender from
          using an individual's late payment of cashless tolls to determine such
          individual's credit worthiness
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Subparagraphs (vii) and (viii) of paragraph 1 of subdivi-
     2  sion (f) of section 380-j of the general business law, as added by chap-
     3  ter 867 of the laws of 1977, are amended to read as follows:
     4    (vii) information relating to past confinement in a mental institution
     5  where the date of last confinement antedates the  report  by  more  than
     6  seven years; [or]
     7    (viii) late payments of any cashless tolls; or
     8    (ix)  any other adverse information which antedates the report by more
     9  than seven years.
    10    § 2. Section 352 of the banking law is amended by adding a  new  ninth
    11  undesignated paragraph to read as follows:
    12    No licensee shall collect, evaluate, report or maintain in the file on
    13  a  borrower the borrower's late payment of cashless tolls as a factor to
    14  determine the borrower's credit worthiness, credit  standing  or  credit
    15  capacity.    The  superintendent  shall  ensure  that the credit scoring
    16  formulas filed with  the  department  do  not  contain  variables  which
    17  account  for  late  payment of cashless tolls as part of that formula by
    18  asking the licensee to certify to that fact.
    19    § 3. This act shall take effect immediately.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03418-02-3
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