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Assembly Bill A1688

2019-2020 Legislative Session

Prohibits consumer reporting agencies and lenders from using an individual's late payment of cashless tolls to determine their credit worthiness

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Archive: Last Bill Status - In Assembly Committee

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2019-A1688 (ACTIVE) - Details

Current Committee:
Assembly Consumer Affairs And Protection
Law Section:
General Business Law
Laws Affected:
Amd §380-j, Gen Bus L; amd §352, Bank L
Versions Introduced in 2017-2018 Legislative Session:
A10391

2019-A1688 (ACTIVE) - Summary

Prohibits consumer reporting agencies and lenders from using an individual's late payment of cashless tolls to determine their credit worthiness.

2019-A1688 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1688
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 16, 2019
                                ___________
 
 Introduced  by  M.  of A. PHEFFER AMATO -- 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 an individual's late payment of cashless tolls to determine such
   individual's credit worthiness
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  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 CONSUMER'S LATE PAYMENT OF ANY
 CASHLESS TOLLS AS A FACTOR TO DETERMINE THE  CONSUMER'S  CREDIT  WORTHI-
 NESS, CREDIT STANDING OR CREDIT CAPACITY.
   §  2. Section 352 of the banking law is amended by adding a new eighth
 undesignated paragraph to read as follows:
   NO LICENSEE SHALL COLLECT, EVALUATE, REPORT OR MAINTAIN IN THE FILE ON
 A BORROWER THE BORROWER'S LATE PAYMENT OF CASHLESS TOLLS AS A FACTOR  TO
 DETERMINE  THE  BORROWER'S  CREDIT WORTHINESS, CREDIT STANDING OR CREDIT
 CAPACITY. THE PROVISIONS OF THIS PARAGRAPH SHALL BE ENFORCED CONCURRENT-
 LY BY THE SUPERINTENDENT AND THE DIRECTOR OF THE  DIVISION  OF  CONSUMER
 PROTECTION  AND  EACH SHALL UTILIZE THEIR CONSUMER COMPLAINT AND ASSIST-
 ANCE HOTLINES TO DOCUMENT COMPLAINTS BY BORROWERS WHO BELIEVE THAT THEIR
 LATE PAYMENT OF CASHLESS TOLLS IS BEING USED TO DENY  THEM  CREDIT.  THE
 SUPERINTENDENT  SHALL ENSURE THAT THE CREDIT SCORING FORMULAS FILED WITH
 THE DEPARTMENT DO NOT CONTAIN VARIABLES WHICH ACCOUNT FOR  LATE  PAYMENT
 OF  CASHLESS  TOLLS  AS  PART  OF THAT FORMULA BY ASKING THE LICENSEE TO
 CERTIFY TO THAT FACT.
   § 3. This act shall take effect immediately.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02911-02-9

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