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Assembly Bill A1480A

2023-2024 Legislative Session

Prohibits consumer reporting agencies and lenders from using an individual's late payment of cashless tolls to determine their credit worthiness

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

2023-A1480 - Details

See Senate Version of this Bill:
S1109
Current Committee:
Assembly Consumer Affairs And Protection
Law Section:
General Business Law
Laws Affected:
Amd §380-j, Gen Bus L; amd §352, Bank L
Versions Introduced in Other Legislative Sessions:
2017-2018: S7854
2019-2020: S2778
2021-2022: A9898, S3444
2025-2026: A3055, S2198

2023-A1480 - Summary

Prohibits consumer reporting agencies and lenders from using an individual's late payment of cashless tolls to determine their credit worthiness.

2023-A1480 - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   1480
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 17, 2023
                                ___________
 
 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

co-Sponsors

2023-A1480A (ACTIVE) - Details

See Senate Version of this Bill:
S1109
Current Committee:
Assembly Consumer Affairs And Protection
Law Section:
General Business Law
Laws Affected:
Amd §380-j, Gen Bus L; amd §352, Bank L
Versions Introduced in Other Legislative Sessions:
2017-2018: S7854
2019-2020: S2778
2021-2022: A9898, S3444
2025-2026: A3055, S2198

2023-A1480A (ACTIVE) - Summary

Prohibits consumer reporting agencies and lenders from using an individual's late payment of cashless tolls to determine their credit worthiness.

2023-A1480A (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  1480--A
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 17, 2023
                                ___________
 
 Introduced  by M. of A. CARROLL -- read once and referred to the Commit-
   tee on Consumer Affairs and Protection -- committee  discharged,  bill
   amended,  ordered reprinted as amended and recommitted to said commit-
   tee
 
 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; 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  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.
                                                            LBD03418-02-3

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