assembly Bill A5106

2017-2018 Legislative Session

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

download bill text pdf

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Archive: Last Bill Status - Passed Assembly


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

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Actions

view actions (11)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 14, 2018 referred to rules
delivered to senate
passed assembly
Jun 13, 2018 ordered to third reading rules cal.153
rules report cal.153
reported
Jun 11, 2018 reported referred to rules
Jun 04, 2018 reported referred to codes
Jan 03, 2018 referred to consumer affairs and protection
Jun 05, 2017 reported referred to rules
Feb 06, 2017 referred to consumer affairs and protection

Co-Sponsors

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Multi-Sponsors

A5106 (ACTIVE) - Details

See Senate Version of this Bill:
S8155
Current Committee:
Senate Rules
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:
2015-2016: A9150, S6853
2019-2020: A5294, S2302

A5106 (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.

A5106 (ACTIVE) - Bill Text download pdf


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

                                  5106

                       2017-2018 Regular Sessions

                          I N  A S S E M B L Y

                            February 6, 2017
                               ___________

Introduced  by  M.  of A. CRESPO, SEPULVEDA, RAMOS, PICHARDO, RODRIGUEZ,
  RIVERA, ARROYO, McDONOUGH, HOOPER, RAIA -- 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.
  §  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.
  § 3. Section 2 of the banking law is amended by adding a new  subdivi-
sion 31 to read as follows:

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

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