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Bill > S07854
NY S07854
NY S07854Prohibits consumer reporting agencies and lenders from using an individual's late payment of cashless tolls to determine their credit worthiness.
summary
Introduced
03/05/2018
03/05/2018
In Committee
03/05/2018
03/05/2018
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
2017-2018 General Assembly
Bill Summary
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: 1
AI Summary
This bill prohibits consumer reporting agencies and lenders from using an individual's late payment of cashless tolls to determine their creditworthiness. It amends the General Business Law and the Banking Law to prevent the use of late cashless toll payments as a factor in assessing a consumer's credit standing or capacity. The bill also requires the Superintendent of Financial Services to ensure that credit scoring formulas do not include variables related to late cashless toll payments.
Committee Categories
Business and Industry
Sponsors (10)
Leroy Comrie (D)*,
Joe Addabbo (D),
Jamaal Bailey (D),
John Brooks (D),
David Carlucci (D),
Liz Krueger (D),
José Peralta (REF),
Roxanne Persaud (D),
James Sanders (D),
Toby Stavisky (D),
Last Action
PRINT NUMBER 7854A (on 06/12/2018)
Official Document
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