senate Bill S606A

2013-2014 Legislative Session

Requires transmitters of money to provide a certain warning to consumers

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Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 07, 2014 reported and committed to finance
Feb 26, 2014 notice of committee consideration - requested
Jan 08, 2014 referred to banks
Jun 10, 2013 print number 606a
amend and recommit to commerce, economic development and small business
Apr 23, 2013 reported and committed to commerce, economic development and small business
Mar 08, 2013 notice of committee consideration - requested
Jan 09, 2013 referred to banks

Votes

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May 7, 2014 - Banks committee Vote

S606A
9
5
committee
9
Aye
5
Nay
5
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Banks committee vote details

Apr 24, 2013 - Banks committee Vote

S606
9
5
committee
9
Aye
5
Nay
5
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Bill Amendments

Original
A (Active)
Original
A (Active)

Co-Sponsors

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S606 - Details

See Assembly Version of this Bill:
A156A
Current Committee:
Law Section:
Banking Law
Laws Affected:
Add §652-c, Bank L
Versions Introduced in 2011-2012 Legislative Session:
A8928, A8928B, S6276B

S606 - Summary

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

S606 - Sponsor Memo

S606 - Bill Text download pdf

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

                                   606

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by Sens. GIANARIS, ADAMS, ADDABBO, AVELLA, HASSELL-THOMPSON,
  KENNEDY, KRUEGER, MONTGOMERY,  PARKER,  STAVISKY,  STEWART-COUSINS  --
  read  twice  and  ordered printed, and when printed to be committed 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. 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."
  2. FOR THE PURPOSES OF THIS SECTION, "CLEARLY AND PROMINENTLY"  MEANS:
(A) IN WRITTEN COMMUNICATIONS, INCLUDING PRINT AND THOSE MADE THROUGH AN

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

Co-Sponsors

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S606A (ACTIVE) - Details

See Assembly Version of this Bill:
A156A
Current Committee:
Law Section:
Banking Law
Laws Affected:
Add §652-c, Bank L
Versions Introduced in 2011-2012 Legislative Session:
A8928, A8928B, S6276B

S606A (ACTIVE) - Summary

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

S606A (ACTIVE) - Sponsor Memo

S606A (ACTIVE) - Bill Text download pdf

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

                                 606--A

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by Sens. GIANARIS, ADAMS, ADDABBO, AVELLA, HASSELL-THOMPSON,
  KENNEDY, KRUEGER, MONTGOMERY,  PARKER,  STAVISKY,  STEWART-COUSINS  --
  read  twice  and  ordered printed, and when printed to be committed to
  the Committee on Banks -- reported favorably from said  committee  and
  committed to the Committee on Commerce, Economic Development and Small
  Business  --  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 INCLUDE, BUT NOT BE LIMITED TO, THE FOLLOWING INFORMATION:
  (A) A TITLE IN BOLD, CAPITAL LETTERS  SAYING  "WARNING:  DO  NOT  FALL
VICTIM TO CONSUMER FRAUD;"
  (B)  QUESTIONS  OR INFORMATION THAT ALERT A CONSUMER ABOUT THE DANGERS
OF SENDING FUNDS FOR LOTTERY WINNINGS, CREDIT CARD GUARANTEES OR  LOANS,
INTERNET  OR PHONE OFFERS, TO PERSONS UNKNOWN TO THE CONSUMER OR PERSONS
WHOSE IDENTITY THE CONSUMER CANNOT VERIFY AND ANY OTHER FRAUD ALERT; AND
  (C) INFORMATION ABOUT HOW TO ASK  QUESTIONS  OF  THE  SALES  CLERK  OR
REPRESENTATIVE; AND
  (D) INFORMATION ABOUT HOW TO STOP A TRANSFER.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD00134-03-3

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