New York State Assembly

 
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A08067 Summary:

A08067 Actions:

A08067 Committee Votes:

Committee:BANKS   Chair:Vanel      
DATE:04/30/2025AYE/NAY:19/9  Action: Favorable         
Vanel
Aye
Bologna
Nay
Weprin
Aye
Mikulin
Nay
Taylor
Aye
Smullen
Nay
Stern
Aye
Fitzpatrick
Nay
Sayegh
Aye
Lemondes
Nay
Burke
Aye
DiPietro
Excused
Anderson
Aye
Chang
Nay
Mitaynes
Aye
Chludzinski
Nay
Septimo
Aye
Molitor
Nay
Tapia
Aye
De Los Santos
Aye
Cunningham
Aye
Lee
Aye
Raga
Aye
Burdick
Aye
Dais
Aye
Jackson
Aye
Torres
Excused
Hooks
Excused
Wieder
Nay
Wright
Aye
Yeger
Aye

A08067 Floor Votes:

A08067 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         8067--A
                                                                Cal. No. 118
 
                               2025-2026 Regular Sessions
 
                   IN ASSEMBLY
 
                                     April 23, 2025
                                       ___________
 
        Introduced  by M. of A. EPSTEIN, DE LOS SANTOS -- read once and referred
          to the Committee on Banks -- reported from committee,  advanced  to  a
          third  reading,  amended and ordered reprinted, retaining its place on
          the order of third reading

        AN ACT to amend the banking law, in relation to an  exemption  from  the
          licensing requirements for servicers of student loans
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1.   Subdivision 2 of section  711  of  the  banking  law,  as
     2  amended  by  section  1  of part L of chapter 58 of the laws of 2019, is
     3  amended to read as follows:
     4    2. The licensing provisions of this article shall  not  apply  to  any
     5  exempt  organization  that  is  a  student loan servicer; provided that,
     6  unless preempted by federal law,  such  exempt  organization  [notifies]
     7  shall  notify  the  superintendent that it is servicing student loans in
     8  this state and complies with sections  seven  hundred  seventeen,  seven
     9  hundred  nineteen,  seven hundred twenty-one, seven hundred twenty-three
    10  and seven hundred twenty-five of this article and article  nine  of  the
    11  financial  services  law  and  any regulation applicable to student loan
    12  servicers promulgated by the superintendent.
    13    § 2. This act shall take effect immediately.
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11792-02-5