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Senate Bill S5716A

2013-2014 Legislative Session

Directs the department of financial services to study, evaluate and make recommendations concerning businesses engaged in pension loan advancements

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Archive: Last Bill Status - In Senate Committee Finance Committee

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Bill Amendments

2013-S5716 - Details

See Assembly Version of this Bill:
A7332
Current Committee:
Senate Finance
Law Section:
Financial Services
Versions Introduced in Other Legislative Sessions:
2015-2016: A986
2017-2018: A684

2013-S5716 - Summary

Directs the department of financial services to study, evaluate and make recommendations concerning licensure, limits on fees and interest and disclosure practices of businesses engaged in pension loan advancements.

2013-S5716 - Sponsor Memo

2013-S5716 - Bill Text download pdf 

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

                                  5716

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              June 7, 2013
                               ___________

Introduced  by  Sen.  GRIFFO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Finance

AN ACT to direct the department of financial services to study, evaluate
  and make recommendations concerning  licensure,  limits  on  fees  and
  interest  and  disclosure  practices  of businesses engaged in pension
  loan advancements

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The department of financial services is hereby authorized
and directed to examine, evaluate and  make  recommendations  concerning
the  licensure,  limits on fees and interest and disclosure practices of
businesses engaged in pension loan advancements.
  S 2. The department of financial services shall hold  public  hearings
in  the  course of conducting its examination and evaluation pursuant to
this act.
  S 3. The department of financial services shall submit a report, on or
before January 1, 2014, to the superintendent of financial services, the
governor and the legislature of its findings, conclusions and  recommen-
dations, and shall submit with its report such legislative and regulato-
ry proposals as it deems necessary to implement its recommendations.
  S 4. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10693-01-3

2013-S5716A (ACTIVE) - Details

See Assembly Version of this Bill:
A7332
Current Committee:
Senate Finance
Law Section:
Financial Services
Versions Introduced in Other Legislative Sessions:
2015-2016: A986
2017-2018: A684

2013-S5716A (ACTIVE) - Summary

Directs the department of financial services to study, evaluate and make recommendations concerning licensure, limits on fees and interest and disclosure practices of businesses engaged in pension loan advancements.

2013-S5716A (ACTIVE) - Sponsor Memo

2013-S5716A (ACTIVE) - Bill Text download pdf 

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

                                 5716--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              June 7, 2013
                               ___________

Introduced  by  Sen.  GRIFFO -- read twice and ordered printed, and when
  printed to be committed to the Committee on Finance -- recommitted  to
  the  Committee  on Finance in accordance with Senate Rule 6, sec. 8 --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted to said committee

AN ACT to direct the department of financial services to study, evaluate
  and  make  recommendations  concerning  licensure,  limits on fees and
  interest and disclosure practices of  businesses  engaged  in  pension
  loan advancements

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. The department of financial services is  hereby  authorized
and  directed  to  examine, evaluate and make recommendations concerning
the licensure, limits on fees and interest and disclosure  practices  of
businesses engaged in pension loan advancements.
  S  2.  The department of financial services shall hold public hearings
in the course of conducting its examination and evaluation  pursuant  to
this act.
  S 3. The department of financial services shall submit a report, on or
before January 1, 2015, to the superintendent of financial services, the
governor  and the legislature of its findings, conclusions and recommen-
dations, and shall submit with its report such legislative and regulato-
ry proposals as it deems necessary to implement its recommendations.
  S 4. This act shall take effect immediately.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10693-02-4

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