assembly Bill A6226

2021-2022 Legislative Session

Relates to protections for private education loan borrowers and cosigners

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed 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 (6)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Feb 28, 2022 print number 6226b
Feb 28, 2022 amend and recommit to consumer affairs and protection
Feb 01, 2022 print number 6226a
Feb 01, 2022 amend and recommit to consumer affairs and protection
Jan 05, 2022 referred to consumer affairs and protection
Mar 10, 2021 referred to consumer affairs and protection

A6226 - Details

Law Section:
General Business Law
Laws Affected:
Add Art 42 §§1100 - 1109, Gen Bus L; amd §§105 & 3213, add §3012-c, CPLR

A6226 - Summary

Enacts protections for private education loan borrowers and cosigners; requires certain notifications from creditors and debt collectors; prohibits acceleration; enacts provisions for cosigner release.

A6226 - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6226
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 10, 2021
                                ___________
 
 Introduced  by  M.  of  A.  ZEBROWSKI  --  read once and referred to the
   Committee on Consumer Affairs and Protection
 
 AN ACT to amend the general business law and the civil practice law  and
   rules,  in relation to protecting private education loan borrowers and
   cosigners

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The general business law is amended by adding a new article
 42 to read as follows:
                                ARTICLE 42
                    PRIVATE EDUCATION LOAN PROTECTIONS
 SECTION 1100. DEFINITIONS.
         1101. APPLICABILITY.
         1102. EXEMPT ORGANIZATIONS.
         1103. PROVISIONS APPLICABLE TO COSIGNERS.
         1104. PROHIBITION  ON ACCELERATION OF PAYMENTS ON PRIVATE EDUCA-
                 TION LOANS.
         1105. REQUIRED COMMUNICATIONS.
         1106. REQUIRED INFORMATION TO BE PROVIDED BY CREDITORS AND  DEBT
                 COLLECTORS.
         1107. ENFORCEMENT.
         1108. RULES AND REGULATIONS.
         1109. PENALTIES.
   § 1100. DEFINITIONS. AS USED IN THIS ARTICLE:
   1. "PRIVATE EDUCATION LOAN" MEANS AN EXTENSION OF CREDIT THAT:
   (A)  IS  NOT MADE, INSURED, OR GUARANTEED UNDER TITLE IV OF THE HIGHER
 EDUCATION ACT OF 1965 (20 U.S.C. 1070 ET SEQ.);
   (B) IS EXTENDED TO A CONSUMER EXPRESSLY, IN  WHOLE  OR  IN  PART,  FOR
 HIGHER EDUCATION EXPENSES, REGARDLESS OF WHETHER THE LOAN IS PROVIDED BY
 THE EDUCATIONAL INSTITUTION THAT THE STUDENT ATTENDS;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09464-03-1

Co-Sponsors

A6226A - Details

Law Section:
General Business Law
Laws Affected:
Add Art 42 §§1100 - 1109, Gen Bus L; amd §§105 & 3213, add §3012-c, CPLR

A6226A - Summary

Enacts protections for private education loan borrowers and cosigners; requires certain notifications from creditors and debt collectors; prohibits acceleration; enacts provisions for cosigner release.

A6226A - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6226--A
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 10, 2021
                                ___________
 
 Introduced  by  M.  of  A.  ZEBROWSKI  --  read once and referred to the
   Committee on Consumer Affairs and Protection  --  recommitted  to  the
   Committee on Consumer Affairs and Protection in accordance with Assem-
   bly  Rule  3,  sec.  2  -- committee discharged, bill amended, ordered
   reprinted as amended and recommitted to said committee

 AN ACT to amend the general business law and the civil practice law  and
   rules,  in relation to protecting private education loan borrowers and
   cosigners
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The general business law is amended by adding a new article
 42 to read as follows:
                                ARTICLE 42
                    PRIVATE EDUCATION LOAN PROTECTIONS
 SECTION 1100. DEFINITIONS.
         1101. APPLICABILITY.
         1102. EXEMPT ORGANIZATIONS.
         1103. PROVISIONS APPLICABLE TO COSIGNERS.
         1104. PROHIBITION  ON ACCELERATION OF PAYMENTS ON PRIVATE EDUCA-
                 TION LOANS.
         1105. REQUIRED COMMUNICATIONS.
         1106. REQUIRED INFORMATION TO BE PROVIDED BY CREDITORS AND  DEBT
                 COLLECTORS.
         1107. ENFORCEMENT.
         1108. RULES AND REGULATIONS.
         1109. PENALTIES.
   § 1100. DEFINITIONS. AS USED IN THIS ARTICLE:
   1. "PRIVATE EDUCATION LOAN" MEANS AN EXTENSION OF CREDIT THAT:
   (A)  IS  NOT MADE, INSURED, OR GUARANTEED UNDER TITLE IV OF THE HIGHER
 EDUCATION ACT OF 1965 (20 U.S.C. 1070 ET SEQ.);
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09464-05-1
 A. 6226--A                          2

Co-Sponsors

A6226B (ACTIVE) - Details

Law Section:
General Business Law
Laws Affected:
Add Art 42 §§1100 - 1109, Gen Bus L; amd §§105 & 3213, add §3012-c, CPLR

A6226B (ACTIVE) - Summary

Enacts protections for private education loan borrowers and cosigners; requires certain notifications from creditors and debt collectors; prohibits acceleration; enacts provisions for cosigner release.

A6226B (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6226--B
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 10, 2021
                                ___________
 
 Introduced by M. of A. ZEBROWSKI, SIMON -- read once and referred to the
   Committee  on  Consumer  Affairs  and Protection -- recommitted to the
   Committee on Consumer Affairs and Protection in accordance with Assem-
   bly Rule 3, sec. 2 --  committee  discharged,  bill  amended,  ordered
   reprinted  as  amended  and  recommitted  to  said  committee -- again
   reported from said committee with  amendments,  ordered  reprinted  as
   amended and recommitted to said committee
 
 AN  ACT to amend the general business law and the civil practice law and
   rules, in relation to protecting private education loan borrowers  and
   cosigners
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The general business law is amended by adding a new article
 42 to read as follows:
                                ARTICLE 42
                    PRIVATE EDUCATION LOAN PROTECTIONS
 SECTION 1100. DEFINITIONS.
         1101. APPLICABILITY.
         1102. EXEMPT ORGANIZATIONS.
         1103. PROVISIONS APPLICABLE TO COSIGNERS.
         1104. PROHIBITION ON ACCELERATION OF PAYMENTS ON PRIVATE  EDUCA-
                 TION LOANS.
         1105. REQUIRED  COMMUNICATIONS  FROM  CREDITORS AND DEBT COLLEC-
                 TORS.
         1106. REQUIRED INFORMATION TO BE PROVIDED BY CREDITORS AND  DEBT
                 COLLECTORS.
         1107. ENFORCEMENT.
         1108. RULES AND REGULATIONS.
         1109. PENALTIES.
   § 1100. DEFINITIONS. AS USED IN THIS ARTICLE:
   1. "PRIVATE EDUCATION LOAN" MEANS AN EXTENSION OF CREDIT THAT:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09464-11-2