Senate Bill S876

Signed By Governor
2021-2022 Legislative Session

Relates to consumer financial literacy education

download bill text pdf

Sponsored By

Archive: Last Bill Status - Signed by Governor

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

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2021-S876 (ACTIVE) - Details

See Assembly Version of this Bill:
A976
Law Section:
Financial Services
Laws Affected:
Amd §1, Chap of 2020 (as proposed in S.8721 & A.6070-A)

2021-S876 (ACTIVE) - Summary

Directs a study of the status of consumer awareness and financial education in New York state to instead require that the department of financial services website provide information to enhance consumer financial literacy and consumer awareness which shall include information on basic banking and personal financial management, how credit scores are determined and ways to establish good credit, options for investing and increasing savings, best practices for protecting personal information, and any other topics deemed appropriate by the superintendent.

2021-S876 (ACTIVE) - Sponsor Memo

2021-S876 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    876
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 Introduced  by  Sen.  COMRIE -- read twice and ordered printed, and when
   printed to be committed to the Committee on Rules
 
 AN ACT to amend a chapter of the laws of 2020  directing  the  New  York
   state  department of financial services and the New York state depart-
   ment of state's consumer protection  division to  conduct  a  study on
   consumer awareness and financial  education  in  New  York  state  and
   making  recommendations  for    a   consumer   awareness and financial
   education program, in relation to consumer financial  literacy  educa-
   tion
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 1 of a chapter of the laws of 2020,  directing  the
 New  York  state department of financial services and the New York state
 department of state's consumer protection   division  to    conduct    a
 study  on  consumer  awareness and financial education in New York state
 and making recommendations for   a   consumer   awareness and  financial
 education  program,  as proposed in legislative bills numbers S.8721 and
 A.6070-A, is amended to read as follows:
   Section 1. The superintendent of financial services[,  in  conjunction
 with  the  commissioner  of  the  New York state department of state are
 hereby authorized and directed to prepare or have prepared  a  study  of
 the  status  of  consumer  awareness and financial education in New York
 state and to provide recommendations for a consumer awareness and finan-
 cial education program for all New  York  state  consumers.  Such  study
 shall include, but not be limited to, an analysis of consumer and finan-
 cial  education provided to New York state consumers, the amount of debt
 incurred by age, gender and location in New York state, access to  bank-
 ing  services  by age, gender and location in New York state, and access
 to investment services by age, gender and location in  New  York  state]
 SHALL  PROVIDE,  ON  THE  DEPARTMENT'S  WEBSITE,  INFORMATION TO ENHANCE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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