senate Bill S2302

Signed By Governor
2019-2020 Legislative Session

Prohibits a consumer reporting agency or lender from using certain information to determine an individual's credit worthiness

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A5294 - Signed by Governor


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

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Actions

view actions (11)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Nov 25, 2019 signed chap.540
Nov 19, 2019 delivered to governor
Jun 20, 2019 returned to assembly
passed senate
3rd reading cal.546
substituted for s2302
Jun 20, 2019 substituted by a5294
May 06, 2019 advanced to third reading
May 01, 2019 2nd report cal.
Apr 30, 2019 1st report cal.546
Jan 23, 2019 referred to consumer protection

Votes

view votes

Apr 30, 2019 - Consumer Protection committee Vote

S2302
6
0
committee
6
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Consumer Protection committee vote details

Consumer Protection Committee Vote: Apr 30, 2019

aye wr (1)

Co-Sponsors

S2302 (ACTIVE) - Details

See Assembly Version of this Bill:
A5294
Law Section:
General Business Law
Laws Affected:
Amd §§380-a & 380-j, Gen Bus L; amd §§2 & 352, Bank L
Versions Introduced in Other Legislative Sessions:
2015-2016: S6853, A9150
2017-2018: S8155, A5106

S2302 (ACTIVE) - Summary

Prohibits a consumer reporting agency or lender from using the credit scores of members of an individual's social network to determine the credit worthiness of such individual.

S2302 (ACTIVE) - Sponsor Memo

S2302 (ACTIVE) - Bill Text download pdf


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

                                  2302

                       2019-2020 Regular Sessions

                            I N  S E N A T E

                            January 23, 2019
                               ___________

Introduced by Sens. KAVANAGH, SEPULVEDA -- read twice and ordered print-
  ed,  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:

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

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