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Assembly Bill A8928B

2011-2012 Legislative Session

Requires transmitters of money to provide a certain warning to consumers

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Archive: Last Bill Status - In Senate Committee Rules Committee

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Bill Amendments

co-Sponsors

multi-Sponsors

2011-A8928 - Details

See Senate Version of this Bill:
S6276
Current Committee:
Senate Rules
Law Section:
Banking Law
Laws Affected:
Add §652-c, Bank L
Versions Introduced in Other Legislative Sessions:
2013-2014: A156, S606
2015-2016: A2780, S2480
2017-2018: S3232
2019-2020: S297
2021-2022: S166
2023-2024: S177
2025-2026: S2040

2011-A8928 - Summary

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

2011-A8928 - Bill Text download pdf 

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

                                  8928

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 4, 2012
                               ___________

Introduced  by M. of A. NOLAN -- 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 AS
FOLLOWS:
  "WARNING: PLEASE DO NOT FALL VICTIM TO CONSUMER FRAUD. ARE YOU SENDING
MONEY TO CLAIM LOTTERY WINNINGS? ARE YOU SENDING MONEY BECAUSE YOU  WERE
GUARANTEED  A  CREDIT CARD OR LOAN? ARE YOU RESPONDING TO AN INTERNET OR
PHONE OFFER THAT YOU ARE NOT SURE IS HONEST? ARE YOU  SENDING  MONEY  TO
SOMEONE  YOU  DO  NOT  KNOW  OR WHOSE IDENTITY YOU CANNOT VERIFY? IF SO,
PLEASE ASK THE SALES CLERK OR REPRESENTATIVE TO STOP YOUR TRANSFER RIGHT
AWAY."
  2. FOR THE PURPOSES OF THIS SECTION, "CLEARLY AND PROMINENTLY"  MEANS:
(I) IN WRITTEN COMMUNICATIONS, INCLUDING PRINT AND THOSE MADE THROUGH AN
ELECTRONIC  MEDIUM  (SUCH  AS VIDEO AND INTERACTIVE MEDIA INCLUDING, BUT
NOT LIMITED TO, THE INTERNET, ONLINE SERVICES, AND ELECTRONIC MAIL)  THE
WARNING  SHALL APPEAR ON THE SAME FORM AS THE FORM USED TO AUTHORIZE THE
TRANSMISSION OF FUNDS, SHALL BE IN A TYPE SIZE  SUFFICIENTLY  NOTICEABLE
FOR  AN ORDINARY CONSUMER TO READ AND COMPREHEND THE WRITTEN WARNING AND
SHALL BE IN A TYPE THAT CONTRASTS WITH THE BACKGROUND AGAINST WHICH  THE
WRITTEN  WARNING  APPEARS;  AND (II) IN ORAL COMMUNICATIONS, THE WARNING
SHALL BE DELIVERED IN A VOLUME AND CADENCE SUFFICIENT  FOR  AN  ORDINARY
CONSUMER TO HEAR AND COMPREHEND. IF ANY COMMUNICATION IS PRESENTED SOLE-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

co-Sponsors

multi-Sponsors

2011-A8928A - Details

See Senate Version of this Bill:
S6276
Current Committee:
Senate Rules
Law Section:
Banking Law
Laws Affected:
Add §652-c, Bank L
Versions Introduced in Other Legislative Sessions:
2013-2014: A156, S606
2015-2016: A2780, S2480
2017-2018: S3232
2019-2020: S297
2021-2022: S166
2023-2024: S177
2025-2026: S2040

2011-A8928A - Summary

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

2011-A8928A - Bill Text download pdf 

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

                                 8928--A

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 4, 2012
                               ___________

Introduced by M. of A. NOLAN, JACOBS, ESPINAL, CASTRO, P. RIVERA, DINOW-
  ITZ, BARRON, ROBINSON, JAFFEE, ENGLEBRIGHT, MILLMAN, LINARES, ROBERTS,
  HOOPER,  M. MILLER,  RAMOS,  WEPRIN  -- Multi-Sponsored by -- M. of A.
  ARROYO, BOYLAND, BRONSON,  COOK,  CRESPO,  GABRYSZAK,  GIBSON,  GLICK,
  ORTIZ,  REILLY,  N. RIVERA, STEVENSON -- read once and referred to the
  Committee on Banks -- reported and referred to the Committee on  Codes
  --  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 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."

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

co-Sponsors

multi-Sponsors

2011-A8928B (ACTIVE) - Details

See Senate Version of this Bill:
S6276
Current Committee:
Senate Rules
Law Section:
Banking Law
Laws Affected:
Add §652-c, Bank L
Versions Introduced in Other Legislative Sessions:
2013-2014: A156, S606
2015-2016: A2780, S2480
2017-2018: S3232
2019-2020: S297
2021-2022: S166
2023-2024: S177
2025-2026: S2040

2011-A8928B (ACTIVE) - Summary

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

2011-A8928B (ACTIVE) - Bill Text download pdf 

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

                                 8928--B

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 4, 2012
                               ___________

Introduced by M. of A. NOLAN, JACOBS, ESPINAL, CASTRO, P. RIVERA, DINOW-
  ITZ, BARRON, ROBINSON, JAFFEE, ENGLEBRIGHT, MILLMAN, LINARES, ROBERTS,
  HOOPER,  M. MILLER,  RAMOS, WEPRIN, O'DONNELL -- Multi-Sponsored by --
  M. of A.  ARROYO, BOYLAND, BRONSON, COOK, CRESPO,  GABRYSZAK,  GIBSON,
  GLICK,  ORTIZ,  PERRY,  REILLY,  N. RIVERA, STEVENSON -- read once and
  referred to the Committee on Banks -- reported  and  referred  to  the
  Committee  on  Codes  --  committee  discharged, bill amended, ordered
  reprinted as amended  and  recommitted  to  said  committee  --  again
  reported  from  said  committee  with amendments, 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 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?"

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13850-04-2

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