Assembly Actions -
Senate Actions - UPPERCASE
|Apr 11, 2018||
referred to consumer protection
Senate Bill S8155
2017-2018 Legislative Session
Archive: Last Bill Status - In Senate Committee Consumer Protection Committee
- In Committee Assembly
- On Floor Calendar Assembly
- Passed Assembly
- Delivered to Governor
- Signed By Governor
2017-S8155 (ACTIVE) - Details
2017-S8155 (ACTIVE) - Sponsor Memo
BILL NUMBER: S8155 SPONSOR: KAVANAGH TITLE OF BILL: An act to amend the general business law and the bank- ing law, in relation to prohibiting a consumer reporting agency or lend- er from using certain information to determine an individual's credit worthiness PURPOSE: Prohibits a consumer reporting agency or lender from using the member- ship of the consumer's social network information to determine an indi- vidual's credit worthiness SUMMARY OF SPECIFIC PROVISIONS: Section 1. Section 380-a of the general business law is amended by adding a new subdivision (u) to read as follows: u) Members of a consumer's social network: a group of individuals authorized by a consumer to be part of his or her social media network.
2017-S8155 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8155 I N S E N A T E April 11, 2018 ___________ Introduced by Sen. KAVANAGH -- read twice and ordered printed, and when printed to be committed to the Committee on Consumer 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: 31. MEMBERS OF A BORROWER'S SOCIAL NETWORK. THE TERM "MEMBERS OF A BORROWER'S SOCIAL NETWORK" MEANS A GROUP OF INDIVIDUALS AUTHORIZED BY A BORROWER TO BE PART OF HIS OR HER SOCIAL MEDIA COMMUNICATIONS AND NETWORK. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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