Assembly Actions - Lowercase Senate Actions - UPPERCASE |
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Jan 03, 2018 | referred to banks |
Jan 20, 2017 | referred to banks |
senate Bill S3232
Sponsored By
Michael Gianaris
(D, WF) 12th Senate District
Archive: Last Bill Status - In Senate Committee Banks Committee
- Introduced
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
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Co-Sponsors
Joseph P. Addabbo Jr
(D) 15th Senate District
Tony Avella
(D) 0 Senate District
Timothy M. Kennedy
(D, WF) 63rd Senate District
Liz Krueger
(D, WF) 28th Senate District
S3232 (ACTIVE) - Details
S3232 (ACTIVE) - Sponsor Memo
BILL NUMBER: S3232 TITLE OF BILL : An act to amend the banking law, in relation to requiring transmitters of money to provide a certain warning to consumers PURPOSE OR GENERAL IDEA OF BILL : This bill would require a transmitter of money to provide a warning about potential fraud to consumers. SUMMARY OF SPECIFIC PROVISIONS : Section 1 of this act would amend the banking law by adding a new Section 652-c, requiring a person engaged in the business of receiving money for transmission or transmitting money to clearly and prominently warn the consumers about potential fraud prior to completing the transfer. JUSTIFICATION : Consumer fraud hurts everyone regardless of age. The elderly however, are especially vulnerable to scams that call for the transferring of money. People receive calls or emails informing them that they won the
S3232 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3232 2017-2018 Regular Sessions I N S E N A T E January 20, 2017 ___________ Introduced by Sens. GIANARIS, ADDABBO, AVELLA, KENNEDY, KRUEGER, MONT- GOMERY, 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: § 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. 2. FOR THE PURPOSES OF THIS SECTION, "CLEARLY AND PROMINENTLY" MEANS: (A) IN WRITTEN COMMUNICATIONS, INCLUDING PRINT AND THOSE MADE THROUGH AN ELECTRONIC MEDIUM (SUCH AS VIDEO AND INTERACTIVE MEDIA INCLUDING, BUT NOT LIMITED TO, THE INTERNET, ONLINE SERVICES, AND ELECTRONIC MAIL) THE WARNING SHALL APPEAR ON THE SAME FORM AS THE FORM USED TO AUTHORIZE THE TRANSMISSION OF FUNDS, SHALL BE IN A TYPE SIZE SUFFICIENTLY NOTICEABLE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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