Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 04, 2012 |
referred to consumer affairs and protection |
Jan 12, 2011 |
referred to consumer affairs and protection |
Assembly Bill A1873
2011-2012 Legislative Session
Sponsored By
JEFFRIES
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
Robert Reilly
Kenneth Zebrowski
Annette Robinson
William Colton
multi-Sponsors
William Boyland
Kevin Cahill
Karim Camara
Earlene Hooper
2011-A1873 (ACTIVE) - Details
- Current Committee:
- Assembly Consumer Affairs And Protection
- Law Section:
- General Business Law
- Laws Affected:
- Rel §380-u to be §380-v, add §380-u, amd §380-a, Gen Bus L
- Versions Introduced in 2009-2010 Legislative Session:
-
A2282
2011-A1873 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1873 2011-2012 Regular Sessions I N A S S E M B L Y January 12, 2011 ___________ Introduced by M. of A. JEFFRIES, REILLY, ZEBROWSKI, ROBINSON, COLTON, GABRYSZAK, SCARBOROUGH, P. RIVERA, BROOK-KRASNY -- Multi-Sponsored by -- M. of A. BOYLAND, CAHILL, CAMARA, HOOPER, MAISEL, MAYERSOHN, J. RIVERA, WEISENBERG -- read once and referred to the Committee on Consumer Affairs and Protection AN ACT to amend the general business law, in relation to credit score disclosure THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 380-u of the general business law, as relettered by chapter 63 of the laws of 2006, is relettered section 380-v and a new section 380-u is added to read as follows: S 380-U. CREDIT SCORE DISCLOSURE. (A)(1) ANY VENDOR OFFERING CONSUMER CREDIT OF TWENTY-FIVE DOLLARS OR MORE SHALL DISCLOSE CREDIT SCORE QUALI- FICATION LEVELS TO ALL APPLICANTS FOR CREDIT. (2) A VENDOR SHALL DISCLOSE WITHIN TEN DAYS, TO ANY PERSON DENIED CREDIT INCLUDING DENIAL FROM A PREFERRED OFFER, THE ACTUAL NUMERICAL CREDIT SCORE AND THE ANALYSIS USED TO CALCULATE SUCH SCORE ON WHICH THE DENIAL WAS BASED. THE OPTION OF INTERNET ACCESS FOR SUCH DISCLOSURE SHALL BE PROVIDED VIA A SECURE ACCESS CODE GIVEN TO THE PERSON DENIED CREDIT. (3) IF A VENDOR RELIES UPON A CREDIT REPORTING AGENCY TO CALCULATE CREDIT SCORES, SUCH AGENCY SHALL BE DEEMED AN AGENT OF THE VENDOR AND SHALL DISCLOSE THE CREDIT SCORE AND THE ANALYSIS USED BY SUCH AGENCY TO CALCULATE SUCH SCORE TO ANY APPLICANT FOR CREDIT. (4) ANY CONSUMER SHALL BE ENTITLED TO ONE CREDIT REPORT EVERY FOUR MONTHS FROM ANY SINGLE VENDOR, OR ONE REPORT PER MONTH WHERE SUCH CONSUMER WAS SOLICITED FOR A CREDIT OFFER BY A VENDOR. (B) (1) DISCLOSURE REQUIRED PURSUANT TO SUBDIVISION (A) OF THIS SECTION SHALL PROVIDE SUCH INFORMATION, INCLUDING NUMERICAL AMOUNTS, EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD05033-01-1
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