Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Mar 26, 2014 |
reported and committed to finance |
Jan 08, 2014 |
referred to banks returned to senate died in assembly |
Jun 17, 2013 |
referred to banks delivered to assembly passed senate ordered to third reading cal.1383 committee discharged and committed to rules |
Apr 23, 2013 |
reported and committed to higher education |
Apr 12, 2013 |
referred to banks |
Senate Bill S4598
2013-2014 Legislative Session
Sponsored By
(R) Senate District
Archive: Last Bill Status - In Senate Committee Finance Committee
- 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
Actions
Votes
2013-S4598 (ACTIVE) - Details
- Current Committee:
- Senate Finance
- Law Section:
- Financial Services Law
- Laws Affected:
- Amd §301, add Art 6 §§601 - 603, Fin Serv L; amd §655, add Art 14-B §§697 - 699, Ed L
2013-S4598 (ACTIVE) - Sponsor Memo
BILL NUMBER:S4598 TITLE OF BILL: An act to amend the financial services law, in relation to the truth in student lending clearinghouse program; and to amend the financial services law and the education law, in relation to the student lending transparency program PURPOSE: To establish the Student Lending Transparency Program to require the Department of Financial Services to compile data on student loans and make certain information available to the public. SUMMARY OF PROVISIONS: Section 1. Amends paragraphs 6 and 7 of subsection (c) of section 301 of the financial services law to authorize the Superintendent to establish and administer the "Student Lending Transparency Program. Section 2. Amends the financial services law to create a new article 6 to establish the student lending transparency program. Section 3. Amends section 655 of the education law to add a new subdivision 13 to create a link on the Higher Education Services Corporation's website to the Department of Financial Services' website. Section 4. Amends the education law to add a new article 14-b to
2013-S4598 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4598 2013-2014 Regular Sessions I N S E N A T E April 12, 2013 ___________ Introduced by Sen. LAVALLE -- read twice and ordered printed, and when printed to be committed to the Committee on Banks AN ACT to amend the financial services law, in relation to the truth in student lending clearinghouse program; and to amend the financial services law and the education law, in relation to the student lending transparency program THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraphs 6 and 7 of subsection (c) of section 301 of the financial services law are amended and a new paragraph 8 is added to read as follows: (6) providing technical assistance to local governments and not-for- profits in the development of consumer protection measures with respect to financial products and services; [and] (7) continuing and expanding the detection, investigation and prevention of insurance fraud[.]; AND (8) ESTABLISHING AND ADMINISTERING THE "STUDENT LENDING TRANSPARENCY PROGRAM" PURSUANT TO ARTICLE SIX OF THIS CHAPTER. S 2. The financial services law is amended by adding a new article 6 to read as follows: ARTICLE 6 STUDENT LENDING TRANSPARENCY PROGRAM SECTION 601. DEFINITIONS. 602. STUDENT LENDING TRANSPARENCY PROGRAM. 603. RULES AND REGULATIONS. S 601. DEFINITIONS. THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEAN- INGS WHEN USED IN THIS ARTICLE: A. "PRIVATE STUDENT LOANS" SHALL MEAN A PRIVATE LOAN ISSUED BY A PRIVATE LENDING INSTITUTION FOR THE PURPOSES OF PAYING FOR OR FINANCING HIGHER EDUCATION EXPENSES. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09564-01-3
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