Bill
Bill > A10391
NY A10391
NY A10391Prohibits consumer reporting agencies and lenders from using an individual's late payment of cashless tolls to determine their credit worthiness.
summary
Introduced
04/18/2018
04/18/2018
In Committee
04/18/2018
04/18/2018
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 amends the New York General Business Law and Banking Law to prohibit consumer reporting agencies and lenders from using an individual's late payment of cashless tolls to determine their creditworthiness. The bill aims to prevent such late toll payments from negatively impacting an individual's credit standing or credit capacity. It requires lenders to ensure their credit scoring formulas do not include variables related to late cashless toll payments, and provides for concurrent enforcement by the state banking superintendent and the director of the division of consumer protection.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
referred to consumer affairs and protection (on 04/18/2018)
Official Document
bill text
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bill summary
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