Bill > A01654

This bill prohibits consumer reporting agencies from recording debt arrears that are directly related to COVID-19 hardships. Specifically, the bill defines COVID-19 related hardships as including significant income loss during the pandemic, increased out-of-pocket expenses for essential workers or health-related costs, challenges with childcare or caring for family members that impacted employment or income, and other pandemic-related circumstances that negatively affected an individual's ability to earn income or significantly increased their expenses. If debt arrears are reported in violation of this prohibition, an individual can file a dispute to have those arrears expunged from their consumer file. The key purpose of the bill is to protect individuals whose financial difficulties were directly caused by the unique challenges presented by the COVID-19 pandemic, ensuring that these temporary hardships do not result in long-term negative consequences to their credit reporting. The bill will take effect 30 days after becoming law.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A1654