Bill Text: NY A06070 | 2019-2020 | General Assembly | Amended

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Bill Title: Directs the New York state department of financial services and the New York state department of state's consumer protection division to conduct a study on consumer awareness and financial education in New York state and to make recommendations for a consumer awareness and financial education program.

Spectrum: Partisan Bill (Democrat 6-0)

Status: (Passed) 2020-12-15 - approval memo.33 [A06070 Detail]

Download: New_York-2019-A06070-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         6070--A

                               2019-2020 Regular Sessions

                   IN ASSEMBLY

                                    February 26, 2019
                                       ___________

        Introduced by M. of A. SEAWRIGHT, GALEF -- read once and referred to the
          Committee on Banks -- recommitted to the Committee on Banks in accord-
          ance  with  Assembly  Rule  3,  sec.  2  -- committee discharged, bill
          amended, ordered reprinted as amended and recommitted to said  commit-
          tee

        AN ACT to direct the New York state department of financial services and
          the  New York state department of state's consumer protection division
          to conduct a study on consumer awareness and  financial  education  in
          New  York  state  and to make recommendations for a consumer awareness
          and financial education program

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  The  superintendent of financial services, in conjunction
     2  with the commissioner of the New York  state  department  of  state  are
     3  hereby  authorized  and  directed to prepare or have prepared a study of
     4  the status of consumer awareness and financial  education  in  New  York
     5  state and to provide recommendations for a consumer awareness and finan-
     6  cial  education  program  for  all  New York state consumers. Such study
     7  shall include, but not be limited to, an analysis of consumer and finan-
     8  cial education provided to New York state consumers, the amount of  debt
     9  incurred  by age, gender and location in New York state, access to bank-
    10  ing services by age, gender and location in New York state,  and  access
    11  to investment services by age, gender and location in New York state.
    12    Such  study  and  recommendations  shall  be  completed,  and shall be
    13  provided to the governor, the temporary president of the senate, and the
    14  speaker of the assembly, within twelve months of the effective  date  of
    15  this  act  and  shall  be posted on the department of financial services
    16  public website.
    17    § 2. This act shall take effect immediately.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08692-02-0