Bill Text: NY S08721 | 2019-2020 | General Assembly | Introduced


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 1-0)

Status: (Passed) 2020-12-15 - approval memo.33 [S08721 Detail]

Download: New_York-2019-S08721-Introduced.html



                STATE OF NEW YORK
        ________________________________________________________________________

                                          8721

                    IN SENATE

                                      July 10, 2020
                                       ___________

        Introduced  by  Sen.  COMRIE -- read twice and ordered printed, and when
          printed to be committed to the Committee on Rules

        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.
                                                                   LBD08692-04-0
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