Assembly Bill A156A

2013-2014 Legislative Session

Requires transmitters of money to provide a certain warning to consumers

download bill text pdf

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Archive: Last Bill Status - On Floor Calendar


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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Bill Amendments

co-Sponsors

multi-Sponsors

2013-A156 - Details

See Senate Version of this Bill:
S606
Law Section:
Banking Law
Laws Affected:
Add §652-c, Bank L
Versions Introduced in Other Legislative Sessions:
2011-2012: A8928, S6276
2015-2016: A2780, S2480
2017-2018: S3232
2019-2020: S297
2021-2022: S166
2023-2024: S177

2013-A156 - Summary

Requires transmitters of money to provide a warning which informs consumers of certain fraudulent activities that may occur.

2013-A156 - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                   156

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by M. of A. NOLAN, JACOBS, JAFFEE, MILLER, CASTRO, 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

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:

  Section 1. The banking law is amended by adding a new section 652-c to
read as follows:
  S 652-C. REQUIRED WARNING. 1.   A PERSON ENGAGED IN  THE  BUSINESS  OF
RECEIVING  MONEY FOR TRANSMISSION OR TRANSMITTING MONEY BY WIRE OR ELEC-
TRONIC TRANSFER WHICH, AT THE REQUEST OF AN INDIVIDUAL WHO IN PERSON, BY
TELEPHONE OR ELECTRONIC MEANS TRANSMITS FUNDS TO ANOTHER  PERSON,  BUSI-
NESS OR ENTITY, SHALL CLEARLY AND PROMINENTLY WARN THE PERSON REQUESTING
THE  TRANSMISSION  PRIOR  TO COMPLETING SUCH TRANSMISSION OF FUNDS. SUCH
WARNING SHALL CONTAIN AT THE MINIMUM THE FOLLOWING STATEMENTS:
  (A) "WARNING: DO NOT FALL VICTIM TO CONSUMER FRAUD."
  (B) "ARE YOU SENDING MONEY TO CLAIM LOTTERY WINNINGS?"
  (C) "ARE YOU SENDING MONEY BECAUSE YOU WERE GUARANTEED A  CREDIT  CARD
OR LOAN?"
  (D) "ARE YOU RESPONDING TO AN INTERNET OR PHONE OFFER THAT YOU ARE NOT
SURE IS HONEST?"
  (E) "ARE YOU SENDING MONEY TO SOMEONE YOU DO NOT KNOW OR WHOSE IDENTI-
TY YOU CANNOT VERIFY?"
  (F) "ASK THE SALES CLERK OR REPRESENTATIVE TO STOP YOUR TRANSFER RIGHT
AWAY  IF  YOU  HAVE ANY QUESTIONS OR ARE UNSURE ABOUT THE NATURE OF YOUR
TRANSACTION. IT COULD BE FRAUD."
  2. FOR THE PURPOSES OF THIS SECTION, "CLEARLY AND PROMINENTLY"  MEANS:
(A) IN WRITTEN COMMUNICATIONS, INCLUDING PRINT AND THOSE MADE THROUGH AN

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

co-Sponsors

multi-Sponsors

2013-A156A (ACTIVE) - Details

See Senate Version of this Bill:
S606
Law Section:
Banking Law
Laws Affected:
Add §652-c, Bank L
Versions Introduced in Other Legislative Sessions:
2011-2012: A8928, S6276
2015-2016: A2780, S2480
2017-2018: S3232
2019-2020: S297
2021-2022: S166
2023-2024: S177

2013-A156A (ACTIVE) - Summary

Requires transmitters of money to provide a warning which informs consumers of certain fraudulent activities that may occur.

2013-A156A (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 156--A

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                               (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:

  Section 1. The banking law is amended by adding a new section 652-c to
read as follows:
  S 652-C. REQUIRED WARNING. 1.   A PERSON ENGAGED IN  THE  BUSINESS  OF
RECEIVING  MONEY FOR TRANSMISSION OR TRANSMITTING MONEY BY WIRE OR ELEC-
TRONIC TRANSFER WHICH, AT THE REQUEST OF AN INDIVIDUAL WHO IN PERSON, BY
TELEPHONE OR ELECTRONIC MEANS TRANSMITS FUNDS TO ANOTHER  PERSON,  BUSI-
NESS OR ENTITY, SHALL CLEARLY AND PROMINENTLY WARN THE PERSON REQUESTING
THE  TRANSMISSION  PRIOR  TO COMPLETING SUCH TRANSMISSION OF FUNDS. SUCH
WARNING SHALL INCLUDE, BUT NOT BE LIMITED TO, THE FOLLOWING INFORMATION:
  (A) A TITLE IN BOLD, CAPITAL LETTERS  SAYING  "WARNING:  DO  NOT  FALL
VICTIM TO CONSUMER FRAUD;"
  (B)  QUESTIONS  OR INFORMATION THAT ALERT A CONSUMER ABOUT THE DANGERS
OF SENDING FUNDS FOR LOTTERY WINNINGS, CREDIT CARD GUARANTEES OR  LOANS,
INTERNET  OR PHONE OFFERS, TO PERSONS UNKNOWN TO THE CONSUMER OR PERSONS
WHOSE IDENTITY THE CONSUMER CANNOT VERIFY AND ANY OTHER FRAUD ALERT; AND
  (C) INFORMATION ABOUT HOW TO ASK  QUESTIONS  OF  THE  SALES  CLERK  OR
REPRESENTATIVE; AND
  (D) INFORMATION ABOUT HOW TO STOP A TRANSFER.
  2.  FOR THE PURPOSES OF THIS SECTION, "CLEARLY AND PROMINENTLY" MEANS:
(A) IN WRITTEN COMMUNICATIONS, INCLUDING PRINT AND THOSE MADE THROUGH AN
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.
              

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