New York State Assembly

 
•  Summary 
 
•  Actions 
 
•  Committee Votes 
 
•  Floor Votes 
 
•  Memo 
 
•  Text 
 
•  LFIN 
 
•  Chamber Video/Transcript 

S06161 Summary:

S06161 Actions:

S06161 Committee Votes:

S06161 Floor Votes:

S06161 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                         6161--A
 
                               2017-2018 Regular Sessions
 
                    IN SENATE
 
                                      May 11, 2017
                                       ___________
 
        Introduced  by Sen. HAMILTON -- read twice and ordered printed, and when
          printed to be committed to the Committee on Banks -- reported  favora-
          bly  from  said  committee  and committed to the Committee on Rules --
          committee discharged, bill amended, ordered reprinted as  amended  and
          recommitted to said committee

        AN ACT to direct the department of financial services to study, evaluate
          and  make  recommendations  concerning  licensure,  limits on fees and
          interest and disclosure practices of  businesses  engaged  in  pension
          loan advancements
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. The department of financial services is  hereby  authorized
     2  and  directed  to  examine, evaluate and make recommendations concerning
     3  the licensure, limits on fees and interest and disclosure  practices  of
     4  businesses engaged in pension loan advancements.
     5    §  2.  The department of financial services shall hold public hearings
     6  in the course of conducting its examination and evaluation  pursuant  to
     7  this act.
     8    § 3. The department of financial services shall submit a report, on or
     9  before January 1, 2018, to the superintendent of financial services, the
    10  governor,  the  temporary  president  of  the senate, the speaker of the
    11  assembly, the chair of the senate banks committee, and the chair of  the
    12  assembly  banks  committee  of its findings, conclusions and recommenda-
    13  tions, and shall submit with its report such legislative proposals as it
    14  deems necessary to implement its recommendations.
    15    § 4. This act shall take effect immediately.
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03960-03-7