ALBANY (WRGB) A bill being considered in the New York State Senate Judiciary Committee would make the huge fallout from the shutdown of MyPayrollHR a thing of the past.
When the Clifton Park-based payroll company shut down in September, companies and employees across the country suffered. Some people were not paid; others had money withdrawn from their accounts!
MyPayrollHR CEO Michael Mann is facing a federal bank fraud charge.
The Senate bill would create safeguards and hold future payroll companies accountable when they fail to deliver paychecks on time and in full. If the bill becomes law, employees who are not paid on time could recoup up to three times the amount of any absent paycheck.
The bil's sponsor, Sen. Kevin Thomas of Nassau County, is the chair of the Committee on Consumer Protection. He said, "A missed paycheck can significantly disrupt workers' lives and burden them with financial uncertainty. What happened at MyPayrollHR was shocking, and must be prevented from happening again."
Read the full story on CBS6Albany.com.