senate Bill S6161

Signed By Governor
2017-2018 Legislative Session

Directs the department of financial services to study, evaluate and make recommendations concerning businesses engaged in pension loan advancements

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor


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

Your Voice

do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

view actions (15)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Nov 29, 2017 approval memo.29
signed chap.441
Nov 17, 2017 delivered to governor
Jun 19, 2017 returned to senate
passed assembly
ordered to third reading cal.315
substituted for a684a
Jun 15, 2017 referred to ways and means
delivered to assembly
passed senate
Jun 14, 2017 ordered to third reading cal.1762
Jun 12, 2017 print number 6161a
Jun 12, 2017 amend and recommit to rules
Jun 07, 2017 reported and committed to rules
May 11, 2017 referred to banks

S6161 - Details

See Assembly Version of this Bill:
A684
Law Section:
Financial Services
Versions Introduced in Other Legislative Sessions:
2013-2014: A7332
2015-2016: A986

S6161 - 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.

S6161 - Sponsor Memo

S6161 - Bill Text download pdf


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

                                  6161

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                              May 11, 2017
                               ___________

Introduced  by Sen. HAMILTON -- read twice and ordered printed, and when
  printed to be committed 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.
  § 2. The department of financial services shall hold  public  hearings
in  the  course of conducting its examination and evaluation pursuant to
this act.
  § 3. The department of financial services shall submit a report, on or
before January 1, 2018, 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.
  § 4. This act shall take effect immediately.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03960-01-7

S6161A (ACTIVE) - Details

See Assembly Version of this Bill:
A684
Law Section:
Financial Services
Versions Introduced in Other Legislative Sessions:
2013-2014: A7332
2015-2016: A986

S6161A (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.

S6161A (ACTIVE) - Sponsor Memo

S6161A (ACTIVE) - Bill Text download pdf


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

                                 6161--A

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                              May 11, 2017
                               ___________

Introduced  by Sen. HAMILTON -- read twice and ordered printed, and when
  printed to be committed to the Committee on Banks -- reported  favora-
  bly  from  said  committee  and committed to the Committee on Rules --
  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.
  §  2.  The department of financial services shall hold public hearings
in the course of conducting its examination and evaluation  pursuant  to
this act.
  § 3. The department of financial services shall submit a report, on or
before January 1, 2018, to the superintendent of financial services, the
governor,  the  temporary  president  of  the senate, the speaker of the
assembly, the chair of the senate banks committee, and the chair of  the
assembly  banks  committee  of its findings, conclusions and recommenda-
tions, and shall submit with its report such legislative proposals as it
deems necessary to implement its recommendations.
  § 4. This act shall take effect immediately.


 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD03960-03-7

Comments

Open Legislation comments facilitate discussion of New York State legislation. All comments are subject to moderation. Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity or hate speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Comment moderation is generally performed Monday through Friday.

By contributing or voting you agree to the Terms of Participation and verify you are over 13.