Senate Bill S2778

2019-2020 Legislative Session

Prohibits consumer reporting agencies and lenders from using an individual's late payment of cashless tolls to determine their credit worthiness

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Consumer Protection 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

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2019-S2778 (ACTIVE) - Details

Current Committee:
Senate Consumer Protection
Law Section:
General Business Law
Laws Affected:
Amd §380-j, Gen Bus L; amd §352, Bank L
Versions Introduced in Other Legislative Sessions:
2017-2018: S7854
2021-2022: S3444
2023-2024: S1109

2019-S2778 (ACTIVE) - Summary

Prohibits consumer reporting agencies and lenders from using an individual's late payment of cashless tolls to determine their credit worthiness.

2019-S2778 (ACTIVE) - Sponsor Memo

2019-S2778 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2778
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                             January 29, 2019
                                ___________
 
 Introduced  by Sens. COMRIE, ADDABBO, BAILEY, BROOKS, CARLUCCI, KRUEGER,
   PERSAUD, SANDERS, STAVISKY -- read twice and ordered printed, and when
   printed to be committed to the Committee on Consumer Protection
 
 AN ACT to amend the  general  business  law  and  the  banking  law,  in
   relation  to  prohibiting  a  consumer reporting agency or lender from
   using an individual's late payment of cashless tolls to determine such
   individual's credit worthiness
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Subparagraphs (vii) and (viii) of paragraph 1 of subdivi-
 sion (f) of section 380-j of the general business law, as added by chap-
 ter 867 of the laws of 1977, are amended to read as follows:
   (vii) information relating to past confinement in a mental institution
 where the date of last confinement antedates the  report  by  more  than
 seven years; [or]
   (viii)  LATE  PAYMENTS  OF ANY CASHLESS TOLLS AS A FACTOR TO DETERMINE
 THE CONSUMER'S CREDIT WORTHINESS, CREDIT STANDING OR CREDIT CAPACITY; OR
   (IX) any other adverse information which antedates the report by  more
 than seven years.
   §  2. Section 352 of the banking law is amended by adding a new eighth
 undesignated paragraph to read as follows:
   NO LICENSEE SHALL COLLECT, EVALUATE, REPORT OR MAINTAIN IN THE FILE ON
 A BORROWER THE BORROWER'S LATE PAYMENT OF CASHLESS TOLLS AS A FACTOR  TO
 DETERMINE  THE  BORROWER'S  CREDIT WORTHINESS, CREDIT STANDING OR CREDIT
 CAPACITY. THE PROVISIONS OF THIS PARAGRAPH SHALL BE ENFORCED CONCURRENT-
 LY BY THE SUPERINTENDENT AND THE DIRECTOR OF THE  DIVISION  OF  CONSUMER
 PROTECTION  AND  EACH SHALL UTILIZE THEIR CONSUMER COMPLAINT AND ASSIST-
 ANCE HOTLINES TO DOCUMENT COMPLAINTS BY BORROWERS WHO BELIEVE THAT THEIR
 LATE PAYMENT OF CASHLESS TOLLS IS BEING USED TO DENY  THEM  CREDIT.  THE
 SUPERINTENDENT  SHALL ENSURE THAT THE CREDIT SCORING FORMULAS FILED WITH
 THE DEPARTMENT DO NOT CONTAIN VARIABLES WHICH ACCOUNT FOR  LATE  PAYMENT
 OF  CASHLESS  TOLLS  AS  PART  OF THAT FORMULA BY ASKING THE LICENSEE TO
 CERTIFY TO THAT FACT.
   § 3. This act shall take effect immediately.
              

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