Bill Text: NY S00134 | 2019-2020 | General Assembly | Introduced


Bill Title: Establishes the consumer credit rights and responsibilities outreach program to educate the public about the rights and obligations of citizens of the state of New York with regard to credit services and reporting; requires an annual report concerning the operation of such program.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2019-01-09 - REFERRED TO BANKS [S00134 Detail]

Download: New_York-2019-S00134-Introduced.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                           134
                               2019-2020 Regular Sessions
                    IN SENATE
                                       (Prefiled)
                                     January 9, 2019
                                       ___________
        Introduced  by Sen. CARLUCCI -- read twice and ordered printed, and when
          printed to be committed to the Committee on Banks
        AN ACT to amend the financial services law,  in  relation  to  a  public
          education program about the rights of consumers
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. The financial services law is amended by adding a new arti-
     2  cle 7 to read as follows:
     3                                  ARTICLE 7
     4        CONSUMER CREDIT RIGHTS AND RESPONSIBILITIES OUTREACH PROGRAM
     5  Section 701. Consumer  credit  rights  and   responsibilities   outreach
     6                 program established.
     7    §  701.  Consumer  credit rights and responsibilities outreach program
     8  established. 1.  There is hereby established  within  the  department  a
     9  consumer  credit rights and responsibilities outreach program to educate
    10  the public about the rights and obligations of citizens of the state  of
    11  New  York with regard to credit services and reporting, including infor-
    12  mation such as, but not limited to, (a) credit freezes; (b) credit moni-
    13  toring services; (c) credit reporting; (d) the contents of and access to
    14  credit scores; (e) the definition of private information as  defined  in
    15  section  eight  hundred  ninety-nine-aa of the general business law; (f)
    16  notification requirements under section eight hundred ninety-nine-aa  of
    17  the  general  business  law;  (g)  mitigating the effects of a breach of
    18  private information; and (h) the rights of consumers over their personal
    19  information as it is related to third parties.
    20    2. The superintendent shall submit on or before  December  first  next
    21  succeeding the effective date of this section and annually thereafter, a
    22  report  to  the governor and the legislature concerning the operation of
    23  the  consumer  credit  rights  and  responsibilities  outreach  program.
    24  Commencing  in  the  year  after  the  first  year of such program, such
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD05341-01-9

        S. 134                              2
     1  reports shall  include  the  experience  of  the  program  in  providing
     2  outreach  and  education  to  the  public on the issue of the rights and
     3  obligations of the citizens of the state of  New  York  with  regard  to
     4  credit services and reporting.
     5    §  2.  This  act shall take effect on the ninetieth day after it shall
     6  have become a law.
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