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Bill > S00166
NY S00166
NY S00166Requires transmitters of money to provide a warning which informs consumers of certain fraudulent activities that may occur.
summary
Introduced
01/06/2021
01/06/2021
In Committee
02/15/2022
02/15/2022
Crossed Over
02/15/2022
02/15/2022
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
Requires transmitters of money to provide a warning which informs consumers of certain fraudulent activities that may occur.
AI Summary
This bill requires money transmitters to provide a clear and prominent warning to consumers before completing a money transfer. The warning must include information about common consumer fraud schemes, such as lottery winnings, credit card guarantees, and offers from unknown persons. The warning must be presented in a way that makes it easily noticeable and understandable for the average consumer. Violations of this law can result in civil penalties. The bill exempts certain electronic funds transfers, such as those made with gift certificates, from the warning requirement.
Committee Categories
Business and Industry
Sponsors (15)
Michael Gianaris (D)*,
Joe Addabbo (D),
Alessandra Biaggi (D),
James Gaughran (D),
Michelle Hinchey (D),
Timothy Kennedy (D),
Liz Krueger (D),
John Liu (D),
John Mannion (D),
Rachel May (D),
Kevin Parker (D),
Elijah Reichlin-Melnick (D),
Jose Serrano (D),
Toby Stavisky (D),
Andrea Stewart-Cousins (D),
Last Action
referred to banks (on 02/15/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2021/S166 | 12/30/2020 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S00166&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S00166B | 03/19/2021 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S00166&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S00166A | 03/10/2021 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S00166&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S00166 | 12/30/2020 |
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