S T A T E O F N E W Y O R K
________________________________________________________________________
9898
I N A S S E M B L Y
April 19, 2022
___________
Introduced by M. of A. CARROLL -- read once and referred to the Commit-
tee 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. Subparagraphs (vii) and (viii) of paragraph 1 of subdivi-
sion (f) of section 380-j of the general business law, as added by chap-
ter 867 of the laws of 1977, are amended to read as follows:
(vii) information relating to past confinement in a mental institution
where the date of last confinement antedates the report by more than
seven years; [or]
(viii) LATE PAYMENTS OF ANY CASHLESS TOLLS AS A FACTOR TO DETERMINE
THE CONSUMER'S CREDIT WORTHINESS, CREDIT STANDING OR CREDIT CAPACITY; OR
(IX) any other adverse information which antedates the report by more
than seven years.
§ 2. Section 352 of the banking law is amended by adding a new ninth
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.
LBD07975-01-1
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