assembly Bill A9150A

2015-2016 Legislative Session

Prohibits a consumer reporting agency or lender from using certain information to determine an individual's credit worthiness

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


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

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Actions

view actions (3)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Apr 13, 2016 print number 9150a
Apr 13, 2016 amend and recommit to consumer affairs and protection
Jan 29, 2016 referred to consumer affairs and protection

Co-Sponsors

A9150 - Details

See Senate Version of this Bill:
S6853
Law Section:
General Business Law
Laws Affected:
Amd §§380-a & 380-j, Gen Bus L; amd §§2 & 352, Bank L
Versions Introduced in Other Legislative Sessions:
2017-2018: A5106, S8155
2019-2020: A5294, S2302

A9150 - Summary

Prohibits a consumer reporting agency or lender from using the credit scores of members of an individual's social network to determine the credit worthiness of such individual.

A9150 - Bill Text download pdf

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

                                  9150

                          I N  A S S E M B L Y

                            January 29, 2016
                               ___________

Introduced  by M. of A. CRESPO, SEPULVEDA, RODRIGUEZ, RAMOS, PICHARDO --
  read once and referred  to  the  Committee  on  Consumer  Affairs  and
  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  certain information to determine an individual's credit worthi-
  ness

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

  Section  1.  Section  380-a  of the general business law is amended by
adding a new subdivision (u) to read as follows:
  (U) THE TERM "MEMBERS OF A CONSUMER'S SOCIAL NETWORK" MEANS A GROUP OF
INDIVIDUALS AUTHORIZED BY A CONSUMER TO BE PART OF  HIS  OR  HER  SOCIAL
MEDIA COMMUNICATIONS AND NETWORK.
  S  2. Section 380-j of the general business law is amended by adding a
new subdivision (h) to read as follows:
  (H) NO CONSUMER REPORTING AGENCY SHALL COLLECT, EVALUATE,  REPORT,  OR
MAINTAIN  IN THE FILE ON A CONSUMER THE CREDIT WORTHINESS, CREDIT STAND-
ING OR CREDIT CAPACITY OF MEMBERS OF THE CONSUMER'S SOCIAL  NETWORK  FOR
PURPOSES OF DETERMINING THE CREDIT WORTHINESS OF THE CONSUMER; THE AVER-
AGE  CREDIT WORTHINESS, CREDIT STANDING OR CREDIT CAPACITY OF MEMBERS OF
THE CONSUMER'S SOCIAL NETWORK; OR  ANY  GROUP  SCORE  THAT  IS  NOT  THE
CONSUMER'S  OWN  CREDIT  WORTHINESS, CREDIT STANDING OR CREDIT CAPACITY.
THE PROVISIONS OF THIS SUBDIVISION SHALL BE ENFORCED CONCURRENTLY BY THE
SUPERINTENDENT OF FINANCIAL SERVICES AND THE DIRECTOR OF THE DIVISION OF
CONSUMER PROTECTION AND EACH SHALL UTILIZE THEIR CONSUMER COMPLAINT  AND
ASSISTANCE HOTLINES TO DOCUMENT COMPLAINTS BY CONSUMERS WHO BELIEVE THAT
GROUP  CREDIT  RATINGS  OF  THEIR SOCIAL MEDIA NETWORK ARE BEING USED TO
DENY THEM CREDIT.
  S 3. Section 2 of the banking law is amended by adding a new  subdivi-
sion 30 to read as follows:
  30.  MEMBERS  OF  A  BORROWER'S SOCIAL NETWORK. THE TERM "MEMBERS OF A
BORROWER'S SOCIAL NETWORK" MEANS A GROUP OF INDIVIDUALS AUTHORIZED BY  A

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13003-01-5

Co-Sponsors

view additional co-sponsors

A9150A (ACTIVE) - Details

See Senate Version of this Bill:
S6853
Law Section:
General Business Law
Laws Affected:
Amd §§380-a & 380-j, Gen Bus L; amd §§2 & 352, Bank L
Versions Introduced in Other Legislative Sessions:
2017-2018: A5106, S8155
2019-2020: A5294, S2302

A9150A (ACTIVE) - Summary

Prohibits a consumer reporting agency or lender from using the credit scores of members of an individual's social network to determine the credit worthiness of such individual.

A9150A (ACTIVE) - Bill Text download pdf

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

                                 9150--A

                          I N  A S S E M B L Y

                            January 29, 2016
                               ___________

Introduced  by  M.  of A. CRESPO, SEPULVEDA, RODRIGUEZ, RAMOS, PICHARDO,
  McDONOUGH -- read once and  referred  to  the  Committee  on  Consumer
  Affairs  and Protection -- committee discharged, bill amended, ordered
  reprinted as amended and recommitted to said committee

AN ACT to amend the  general  business  law  and  the  banking  law,  in
  relation  to  prohibiting  a  consumer reporting agency or lender from
  using certain information to determine an individual's credit  worthi-
  ness

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

  Section 1. Section 380-a of the general business  law  is  amended  by
adding a new subdivision (u) to read as follows:
  (U) THE TERM "MEMBERS OF A CONSUMER'S SOCIAL NETWORK" MEANS A GROUP OF
INDIVIDUALS  AUTHORIZED  BY  A  CONSUMER TO BE PART OF HIS OR HER SOCIAL
MEDIA COMMUNICATIONS AND NETWORK.
  S 2. Section 380-j of the general business law is amended by adding  a
new subdivision (h) to read as follows:
  (H)  NO  CONSUMER REPORTING AGENCY SHALL COLLECT, EVALUATE, REPORT, OR
MAINTAIN IN THE FILE ON A CONSUMER THE CREDIT WORTHINESS, CREDIT  STAND-
ING  OR  CREDIT CAPACITY OF MEMBERS OF THE CONSUMER'S SOCIAL NETWORK FOR
PURPOSES OF DETERMINING THE CREDIT WORTHINESS OF THE CONSUMER; THE AVER-
AGE CREDIT WORTHINESS, CREDIT STANDING OR CREDIT CAPACITY OF MEMBERS  OF
THE  CONSUMER'S  SOCIAL  NETWORK;  OR  ANY  GROUP  SCORE THAT IS NOT THE
CONSUMER'S OWN CREDIT WORTHINESS, CREDIT STANDING  OR  CREDIT  CAPACITY.
THE PROVISIONS OF THIS SUBDIVISION SHALL BE ENFORCED CONCURRENTLY BY THE
SUPERINTENDENT OF FINANCIAL SERVICES AND THE DIRECTOR OF THE DIVISION OF
CONSUMER  PROTECTION AND EACH SHALL UTILIZE THEIR CONSUMER COMPLAINT AND
ASSISTANCE HOTLINES TO DOCUMENT COMPLAINTS BY CONSUMERS WHO BELIEVE THAT
GROUP CREDIT RATINGS OF THEIR SOCIAL MEDIA NETWORK  ARE  BEING  USED  TO
DENY THEM CREDIT.
  S  3. Section 2 of the banking law is amended by adding a new subdivi-
sion 30 to read as follows:
  30. MEMBERS OF A BORROWER'S SOCIAL NETWORK. THE  TERM  "MEMBERS  OF  A
BORROWER'S  SOCIAL NETWORK" MEANS A GROUP OF INDIVIDUALS AUTHORIZED BY A

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

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