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Assembly Bill A986A

2015-2016 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 Banks Committee

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Bill Amendments

co-Sponsors

2015-A986 - Details

Current Committee:
Senate Banks
Law Section:
Financial Services
Versions Introduced in Other Legislative Sessions:
2013-2014: A7332
2017-2018: A684

2015-A986 - 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.

2015-A986 - Bill Text download pdf 

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

                                   986

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             January 8, 2015
                               ___________

Introduced  by  M.  of  A.  RODRIGUEZ  --  read once and referred to the
  Committee on Banks

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, 2016, 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.
                                                           LBD00761-01-5

co-Sponsors

multi-Sponsors

2015-A986A (ACTIVE) - Details

Current Committee:
Senate Banks
Law Section:
Financial Services
Versions Introduced in Other Legislative Sessions:
2013-2014: A7332
2017-2018: A684

2015-A986A (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.

2015-A986A (ACTIVE) - Bill Text download pdf 

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

                                 986--A

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                             January 8, 2015
                               ___________

Introduced by M. of A. RODRIGUEZ, CRESPO, SEAWRIGHT, MILLER -- read once
  and  referred  to the Committee on Banks -- ordered to a third reading
  -- committed to the Committee on Banks in accordance with Rule 3, sec.
  2 -- 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, 2017, 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.
                                                           LBD00761-02-6

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