New York State Assembly

 
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A02282 Summary:

A02282 Actions:

A02282 Committee Votes:

Committee:BANKS   Chair:Hunter      
DATE:02/27/2024AYE/NAY:27/0  Action: Favorable refer to committee Codes        
Hunter
Aye
Curran
Aye
Weprin
Aye
Mikulin
Aye
Jean-Pierre
Aye
Smullen
Excused
Seawright
Aye
Fitzpatrick
Excused
Dickens
Excused
Lemondes
Aye
Vanel
Aye
DiPietro
Aye
Taylor
Aye
Jensen
Aye
Stern
Aye
Chang
Aye
Sayegh
Aye
Flood
Aye
Burke
Aye
Buttenschon
Aye
Anderson
Aye
Mitaynes
Aye
Septimo
Aye
Tapia
Aye
De Los Santos
Aye
Cunningham
Aye
Lee
Aye
Raga
Aye
Burdick
Aye
Dais
Aye

Committee:CODES   Chair:Dinowitz      
DATE:03/05/2024AYE/NAY:19/3  Action: Favorable         
Dinowitz
Aye
Morinello
Aye
Pretlow
Aye
Reilly
Nay
Cook
Aye
Mikulin
Aye
Lavine
Aye
Tannousis
Nay
Weprin
Aye
Curran
Aye
Hevesi
Aye
Angelino
Nay
Seawright
Aye
Flood
Aye
Rosenthal
Aye
Walker
Aye
Vanel
Aye
Cruz
Aye
Carroll
Aye
Simon
Aye
Epstein
Aye
Bores
Aye

A02282 Floor Votes:

A02282 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          2282
 
                               2023-2024 Regular Sessions
 
                   IN ASSEMBLY
 
                                    January 25, 2023
                                       ___________
 
        Introduced  by  M.  of  A. STIRPE, SAYEGH, SANTABARBARA -- read once and
          referred to the Committee on Banks
 
        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:
     8    (a)  provide  a clear, concise, and conspicuous consumer fraud warning
     9  prior to initiating the money transfer  transaction  and  on  all  funds
    10  transfer forms used by consumers to send money to an individual;
    11    (b)  provide  annual  consumer  fraud  prevention  training for agents
    12  involved with funds transfers;
    13    (c) monitor agent activity relating to consumer funds transfers; and
    14    (d) establish a toll-free number for consumers to call to report fraud
    15  or suspected fraud and provide information on how to stop a transfer.
    16    2. The warning required by this section shall not apply  to  an  elec-
    17  tronic  funds  transfer  in  which funds are not transferred directly to
    18  another person and are not available for immediate use.
    19    3. A violation of the provisions of this section shall  be  punishable
    20  by  a  civil  penalty of not more than two hundred fifty dollars for the
    21  first violation and five hundred dollars for each subsequent violation.
    22    § 2. This act shall take effect on the one hundred eightieth day after
    23  it shall have become a law.
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00388-01-3