Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Nov 03, 2021 |
signed chap.568 |
Oct 22, 2021 |
delivered to governor |
Jun 08, 2021 |
returned to senate passed assembly |
Jun 01, 2021 |
ordered to third reading rules cal.194 substituted for a5915a |
Jun 01, 2021 |
substituted by s1566a rules report cal.194 reported |
May 24, 2021 |
reported referred to rules |
May 20, 2021 |
print number 5915a |
May 20, 2021 |
amend (t) and recommit to banks |
Mar 02, 2021 |
referred to banks |
Assembly Bill A5915A
Signed By Governor2021-2022 Legislative Session
Sponsored By
ZINERMAN
Archive: Last Bill Status Via S1566 - Signed by Governor
- 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
Bill Amendments
co-Sponsors
Victor M. Pichardo
Thomas Abinanti
Charles Lavine
Michael Durso
2021-A5915 - Details
2021-A5915 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5915 2021-2022 Regular Sessions I N A S S E M B L Y March 2, 2021 ___________ Introduced by M. of A. ZINERMAN, PICHARDO, ABINANTI, LAVINE, DURSO, SILLITTI, TAYLOR, NOLAN, DICKENS -- read once and referred to the Committee on Banks AN ACT to amend the banking law, in relation to requiring banks to disclose any negative consequences an alternative loan payment sched- ule may have on credit scores 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 129-a to read as follows: § 129-A. REQUIREMENT OF DISCLOSURE; ALTERNATIVE PAYMENT SCHEDULES. IN THE EVENT THAT ANY BANK OR TRUST COMPANY SHALL PERMIT A CUSTOMER TO ESTABLISH AN ALTERNATIVE PAYMENT SCHEDULE FOR AN EXISTING LOAN, THE BANK OR TRUST COMPANY SHALL PROVIDE WRITTEN DISCLOSURE OF ANY NEGATIVE CONSE- QUENCES SUCH ALTERNATIVE PAYMENT SCHEDULE MAY HAVE ON SUCH CUSTOMER'S CREDIT SCORE OR RATING. SUCH DISCLOSURE SHALL BE PROVIDED AT THE TIME A LOAN APPLICATION IS MADE, AT THE TIME A LOAN IS GRANTED AND AT THE TIME A CUSTOMER REQUESTS THAT AN ALTERNATIVE PAYMENT SCHEDULE BE ESTABLISHED FOR A LOAN, BUT PRIOR TO THE ACTUAL ESTABLISHMENT OF AN ALTERNATIVE PAYMENT SCHEDULE. § 2. This act shall take effect on the ninetieth day after it shall have become a law. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04288-01-1
co-Sponsors
Victor M. Pichardo
Thomas Abinanti
Charles Lavine
Michael Durso
2021-A5915A (ACTIVE) - Details
2021-A5915A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5915--A 2021-2022 Regular Sessions I N A S S E M B L Y March 2, 2021 ___________ Introduced by M. of A. ZINERMAN, PICHARDO, ABINANTI, LAVINE, DURSO, SILLITTI, TAYLOR, NOLAN, DICKENS, JACKSON, GOTTFRIED, GALEF, FERNANDEZ -- 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 banks to provide written notification that accepting an alternative loan payment schedule may have a negative impact on credit scores 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 129-a to read as follows: § 129-A. REQUIREMENT OF WRITTEN NOTIFICATION; ALTERNATIVE PAYMENT SCHEDULES. IN THE EVENT THAT ANY BANK OR TRUST COMPANY SHALL PERMIT A CUSTOMER TO ESTABLISH AN ALTERNATIVE PAYMENT SCHEDULE FOR AN EXISTING LOAN, THE BANK OR TRUST COMPANY SHALL PROVIDE WRITTEN NOTIFICATION THAT ACCEPTING SUCH ALTERNATIVE PAYMENT SCHEDULE MAY HAVE A NEGATIVE IMPACT ON SUCH CUSTOMER'S CREDIT SCORE OR RATING. SUCH NOTIFICATION SHALL BE PROVIDED AT THE TIME A LOAN APPLICATION IS MADE, AT THE TIME A LOAN IS GRANTED AND AT THE TIME A CUSTOMER REQUESTS THAT AN ALTERNATIVE PAYMENT SCHEDULE BE ESTABLISHED FOR A LOAN, BUT PRIOR TO THE ACTUAL ESTABLISH- MENT OF AN ALTERNATIVE PAYMENT SCHEDULE. § 2. This act shall take effect on the ninetieth day after it shall have become a law. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04288-04-1
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