Bill Text: NY S00570 | 2023-2024 | General Assembly | Introduced

New York Senate Bill 570

Introduced

Bill Title: Prohibits a consumer reporting agency or lender from using an individual's internet use or internet viewing history to determine such individual's credit worthiness.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced) 2024-01-03 - REFERRED TO CONSUMER PROTECTION [S00570 Detail]

Download: New_York-2023-S00570-Introduced.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                           570

                               2023-2024 Regular Sessions

                    IN SENATE

                                     January 5, 2023
                                       ___________

        Introduced by Sens. KAVANAGH, SEPULVEDA -- read twice and ordered print-
          ed,  and  when  printed  to  be committed to the Committee on Consumer
          Protection

        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 internet viewing history to determine such indi-
          vidual's credit worthiness

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

     1    Section  1.  Section  380-j  of the general business law is amended by
     2  adding a new subdivision (i) to read as follows:
     3    (i) No consumer reporting agency shall collect, evaluate,  report,  or
     4  maintain  in  the  file  on a consumer the consumer's use of internet or
     5  internet viewing history as a factor to determine the consumer's  credit
     6  worthiness, credit standing or credit capacity.
     7    §  2.  Section  352    of  the  banking law is amended by adding a new
     8  seventh undesignated paragraph to read as follows:
     9    No licensee shall collect, evaluate, report or maintain in the file on
    10  a borrower the borrower's use of internet or internet viewing history as
    11  a factor to determine the borrower's credit worthiness, credit  standing
    12  or  credit  capacity. The provisions of this paragraph shall be enforced
    13  concurrently by the superintendent and the director of the  division  of
    14  consumer  protection and each shall utilize their consumer complaint and
    15  assistance hotlines to document complaints by borrowers who believe that
    16  their internet viewing history is being used to deny  them  credit.  The
    17  superintendent  shall ensure that the credit scoring formulas filed with
    18  the department do not contain variables which account for internet view-
    19  ing history as part of that formula by asking the licensee to certify to
    20  that fact.
    21    § 3. This act shall take effect immediately.

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02001-01-3