Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Dec 29, 2017 |
approval memo.66 signed chap.505 |
Dec 19, 2017 |
delivered to governor |
Jun 20, 2017 |
returned to senate passed assembly ordered to third reading rules cal.570 substituted for a8260a |
Jun 15, 2017 |
referred to banks delivered to assembly passed senate |
Jun 14, 2017 |
ordered to third reading cal.1677 |
Jun 07, 2017 |
print number 6593a |
Jun 07, 2017 |
amend and recommit to rules |
Jun 06, 2017 |
referred to rules |
Senate Bill S6593A
Signed By Governor2017-2018 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
Bill Amendments
2017-S6593 - Details
- See Assembly Version of this Bill:
- A8260
- Law Section:
- Banks
2017-S6593 - Sponsor Memo
BILL NUMBER: S6593 PURPOSE OR GENERAL IDEA OF BILL :. The purpose of this bill is to establish a task force on online lending for further understanding of the industry. SUMMARY OF PROVISIONS : *This bill would establish a task force on online lending that would consist of seven members including; *three members appointed by the governor; *two members appointed by the temporary President of the Senate; *two members appointed by the Speaker of the Assembly. This bill outlines that the purpose of this task force is to identify the main participants in the online lending industry, how they serve consumers and small businesses in this state, and their current and anticipated impact on consumers and small business. On or before April 15, 2018, the task force shall submit to the Governor, the temporary President of the Senate, and the Speaker of the House, a report containing analysis and assessments pertaining to
2017-S6593 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6593 2017-2018 Regular Sessions I N S E N A T E June 6, 2017 ___________ Introduced by Sen. HAMILTON -- read twice and ordered printed, and when printed to be committed to the Committee on Rules AN ACT to establish the task force on online lending institutions, and providing for its powers and duties; and providing for the repeal of such provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Legislative findings and intent. The legislature finds and declares that nationwide financial and technological firms have used electronic platforms to develop a completely new sector of business, known as online lending. The New York state economy, which is driven by a virtual presence on the internet, just like other businesses, has needs for capital to grow and prosper. The legislature further finds that in recent years, financial services have begun to use electronic platforms to reduce costs and expand availability and have specialized in providing small personal and commercial loans to residents and busi- nesses in this state. The legislature further finds that although online loans can provide another avenue for individuals and entrepreneurs to acquire capital and grow their small business, there is potential for unscrupulous online lenders to exploit consumers through predatory practices. While the state has an interest in fostering its economy and its businesses, it likewise has an interest in protecting its consumers and the well-being of its residents. § 2. Task force on online lending institutions. 1. There is hereby established a task force on online lending institutions (hereinafter referred to in this section as the "task force") which shall consist of seven members as follows: (a) three members appointed by the governor; (b) two members appointed by the temporary president of the senate; and EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
2017-S6593A (ACTIVE) - Details
- See Assembly Version of this Bill:
- A8260
- Law Section:
- Banks
2017-S6593A (ACTIVE) - Sponsor Memo
BILL NUMBER: S6593A TITLE OF BILL : An act to establish the task force on online lending institutions, and providing for its powers and duties; and providing for the repeal of such provisions upon expiration thereof PURPOSE OR GENERAL IDEA OF BILL : The purpose of this bill is to establish a task force on online lending for further understanding of the industry. SUMMARY OF PROVISIONS : o This bill would establish a task force on online lending that would consist of seven members including; *three members appointed by the governor; *two members appointed by the temporary President of the Senate; *two members appointed by the Speaker of the Assembly. This bill outlines that the purpose of this task force is to identify the main participants in the online lending industry, how they serve
2017-S6593A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 6593--A 2017-2018 Regular Sessions I N S E N A T E June 6, 2017 ___________ Introduced by Sen. HAMILTON -- read twice and ordered printed, and when printed to be committed to the Committee on Rules -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to establish the task force on online lending institutions, and providing for its powers and duties; and providing for the repeal of such provisions upon expiration thereof THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Legislative findings and intent. The legislature finds and declares that nationwide financial and technological firms have used electronic platforms to develop a completely new sector of business, known as online lending. The New York state economy, which is driven by a virtual presence on the internet, just like other businesses, has needs for capital to grow and prosper. The legislature further finds that in recent years, financial services have begun to use electronic platforms to reduce costs and expand availability and have specialized in providing small personal and commercial loans to residents and busi- nesses in this state. The legislature further finds that although online loans can provide another avenue for individuals and entrepreneurs to acquire capital and grow their small business, there is potential for unscrupulous online lenders to exploit consumers through predatory practices. While the state has an interest in fostering its economy and its businesses, it likewise has an interest in protecting its consumers and the well-being of its residents. § 2. Task force on online lending institutions. 1. There is hereby established a task force on online lending institutions (hereinafter referred to in this section as the "task force") which shall consist of seven members as follows: (a) three members appointed by the governor; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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