|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|May 21, 2019||referred to banks|
delivered to assembly
|May 20, 2019||ordered to third reading cal.717|
committee discharged and committed to rules
|Jan 09, 2019||referred to banks|
senate Bill S297
Current Bill Status - Passed Senate
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S297 (ACTIVE) - Details
S297 (ACTIVE) - Sponsor Memo
BILL NUMBER: S297 SPONSOR: GIANARIS TITLE OF BILL: An act to amend the banking law, in relation to requiring transmitters of money to provide a certain warning to consumers PURPOSE OR GENERAL IDEA OF BILL: This bill would require a transmitter of money to provide a warning about potential fraud to consumers. SUMMARY OF SPECIFIC PROVISIONS: Section 1 amends the banking law by adding a new Section 652-c, requir- ing a person engaged in the business of receiving money for transmission or transmitting money to clearly and prominently warn the consumers about potential fraud prior to completing the transfer.
S297 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 297 2019-2020 Regular Sessions I N S E N A T E (PREFILED) January 9, 2019 ___________ Introduced by Sens. GIANARIS, ADDABBO, KENNEDY, KRUEGER, MONTGOMERY, PARKER, STAVISKY, STEWART-COUSINS -- read twice and ordered printed, and when printed to be committed to the Committee on Banks AN ACT to amend the banking law, in relation to requiring transmitters of money to provide a certain warning to consumers THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The banking law is amended by adding a new section 652-c to read as follows: § 652-C. REQUIRED WARNING. 1. A PERSON ENGAGED IN THE BUSINESS OF RECEIVING MONEY FOR TRANSMISSION OR TRANSMITTING MONEY BY WIRE OR ELEC- TRONIC TRANSFER WHICH, AT THE REQUEST OF AN INDIVIDUAL WHO IN PERSON, BY TELEPHONE OR ELECTRONIC MEANS TRANSMITS FUNDS TO ANOTHER PERSON, BUSI- NESS OR ENTITY, SHALL CLEARLY AND PROMINENTLY WARN THE PERSON REQUESTING THE TRANSMISSION PRIOR TO COMPLETING SUCH TRANSMISSION OF FUNDS. SUCH WARNING SHALL INCLUDE, BUT NOT BE LIMITED TO, THE FOLLOWING INFORMATION: (A) A TITLE IN BOLD, CAPITAL LETTERS SAYING "WARNING: DO NOT FALL VICTIM TO CONSUMER FRAUD."; (B) QUESTIONS OR INFORMATION THAT ALERT A CONSUMER ABOUT THE DANGERS OF SENDING FUNDS FOR LOTTERY WINNINGS, CREDIT CARD GUARANTEES OR LOANS, INTERNET OR PHONE OFFERS, TO PERSONS UNKNOWN TO THE CONSUMER OR PERSONS WHOSE IDENTITY THE CONSUMER CANNOT VERIFY AND ANY OTHER FRAUD ALERT; AND (C) INFORMATION ABOUT HOW TO ASK QUESTIONS OF THE SALES CLERK OR REPRESENTATIVE; AND (D) INFORMATION ABOUT HOW TO STOP A TRANSFER. 2. FOR THE PURPOSES OF THIS SECTION, "CLEARLY AND PROMINENTLY" MEANS: (A) IN WRITTEN COMMUNICATIONS, INCLUDING PRINT AND THOSE MADE THROUGH AN ELECTRONIC MEDIUM (SUCH AS VIDEO AND INTERACTIVE MEDIA INCLUDING, BUT NOT LIMITED TO, THE INTERNET, ONLINE SERVICES, AND ELECTRONIC MAIL) THE WARNING SHALL APPEAR ON THE SAME FORM AS THE FORM USED TO AUTHORIZE THE EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
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