Assembly Bill A99

2023-2024 Legislative Session

Relates to requiring the disclosure of fees on certain internet websites and mobile applications

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee

  • 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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2023-A99 (ACTIVE) - Details

Current Committee:
Assembly Consumer Affairs And Protection
Law Section:
General Business Law
Laws Affected:
Add §399-rr, Gen Bus L
Versions Introduced in Other Legislative Sessions:
2019-2020: A8719
2021-2022: A2521

2023-A99 (ACTIVE) - Summary

Requires the disclosure of fees on internet websites and mobile applications which allow consumers to acquire loans with terms of less than one month.

2023-A99 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    99
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 4, 2023
                                ___________
 
 Introduced by M. of A. SAYEGH, DICKENS, COLTON -- read once and referred
   to the Committee on Consumer Affairs and Protection
 
 AN  ACT  to amend the general business law, in relation to requiring the
   disclosure of fees on certain internet websites  and  mobile  applica-
   tions

   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 section
 399-rr to read as follows:
   § 399-RR. DISCLOSURE OF CERTAIN FEES. 1. NO INTERNET WEBSITE OR MOBILE
 APPLICATION WHICH CAN BE USED BY A CONSUMER TO ACQUIRE  A  LOAN  WITH  A
 TERM  OF  LESS THAN ONE MONTH SHALL IMPOSE A FEE ON A CONSUMER FOR USING
 SUCH INTERNET WEBSITE OR MOBILE APPLICATION TO ACQUIRE SUCH LOAN  UNLESS
 THE  INTERNET  WEBSITE  OR  MOBILE  APPLICATION PROVIDES NOTICE OF A FEE
 BEING CHARGED AND THE CONSUMER ELECTS TO CONTINUE WITH  THE  TRANSACTION
 AFTER RECEIVING SUCH NOTICE. THE NOTICE PROVIDED BY THE INTERNET WEBSITE
 OR MOBILE APPLICATION SHALL CLEARLY STATE: (I) THAT A FEE IS IMPOSED FOR
 THE  USE OF SUCH INTERNET WEBSITE OR MOBILE APPLICATION; (II) THE AMOUNT
 OF SUCH FEE; (III) THAT THE CONSUMER MAY CANCEL SUCH TRANSACTION WITHOUT
 BEING ASSESSED A FEE; AND (IV) IF A FEE IS NOT REQUIRED TO  BE  PAID  TO
 COMPLETE  THE  TRANSACTION  BUT  THE CONSUMER IS SUGGESTED TO PAY A FEE,
 THAT THE CONSUMER MAY CHOOSE NOT TO PAY THE FEE AND CONTINUE TO COMPLETE
 THE TRANSACTION.
   2. EVERY VIOLATION OF THIS SECTION SHALL BE DEEMED A DECEPTIVE ACT AND
 PRACTICE SUBJECT TO ENFORCEMENT UNDER ARTICLE TWENTY-TWO-A OF THIS CHAP-
 TER.
   3. NOTHING IN THIS SECTION SHALL BE CONSTRUED TO  RESTRICT  ANY  RIGHT
 WHICH ANY PERSON MAY HAVE UNDER ANY OTHER STATUTE OR THE COMMON LAW.
   §  2.  This  act shall take effect on the thirtieth day after it shall
 have become a law.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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