Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Sep 04, 2012 |
enacting clause stricken |
Jan 04, 2012 |
referred to consumer affairs and protection |
Feb 04, 2011 |
referred to consumer affairs and protection |
Assembly Bill A4633
2011-2012 Legislative Session
Sponsored By
RIVERA P
Archive: Last Bill Status - Stricken
- 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
Audrey Pheffer
William Boyland
Ellen C. Jaffee
Linda Rosenthal
multi-Sponsors
Carmen E. Arroyo
Michael Benedetto
James F. Brennan
Alec Brook-Krasny
2011-A4633 (ACTIVE) - Details
- Law Section:
- General Business Law
- Laws Affected:
- Add ยง515-a, Gen Bus L
- Versions Introduced in 2009-2010 Legislative Session:
-
A2691
2011-A4633 (ACTIVE) - Summary
Prohibits the issuer of a credit card from increasing the rate of interest or imposing a fee on the account of a holder who has made timely payments and in the minimum amounts required, based on such holder's indebtedness or failure to make timely payments to another creditor; provides that violation of such prohibition shall constitute a misdemeanor.
2011-A4633 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4633 2011-2012 Regular Sessions I N A S S E M B L Y February 4, 2011 ___________ Introduced by M. of A. P. RIVERA, PHEFFER, BOYLAND, JAFFEE, ROSENTHAL, CASTRO, DESTITO, CAMARA, GABRYSZAK, PERRY, GUNTHER, JACOBS, P. LOPEZ, TITUS, SPANO, MAGEE, DenDEKKER, LANCMAN, RUSSELL, SCARBOROUGH, MAISEL, JEFFRIES, MENG, LIFTON, ENGLEBRIGHT -- Multi-Sponsored by -- M. of A. ARROYO, BENEDETTO, BRENNAN, BROOK-KRASNY, BURLING, CLARK, COLTON, COOK, CROUCH, FARRELL, GALEF, GIGLIO, HIKIND, V. LOPEZ, MARKEY, McDO- NOUGH, McENENY, MILLMAN, O'DONNELL, ORTIZ, PEOPLES-STOKES, RAIA, REIL- LY, J. RIVERA, N. RIVERA, ROBINSON, SWEENEY, THIELE, TOBACCO, TOWNS, WEISENBERG, WRIGHT, ZEBROWSKI -- read once and referred to the Commit- tee on Consumer Affairs and Protection AN ACT to amend the general business law, in relation to prohibiting issuers of credit cards from increasing the rate of interest imposed upon outstanding balance based upon a holder's indebtedness or late payments to other creditors THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The general business law is amended by adding a new section 515-a to read as follows: S 515-A. INCREASING RATE OF INTEREST OR IMPOSITION OF FEES FOR INDEBT- EDNESS TO OTHER CREDITORS. 1. NO ISSUER SHALL INCREASE THE RATE OF INTEREST UPON THE ACCOUNT OF THE HOLDER OR IMPOSE A FEE UPON THE OUTSTANDING BALANCE OWED BY A HOLDER WHEN THE INCREASED RATE OF INTEREST OR THE IMPOSITION OF A FEE IS SOLELY THE RESULT OF THE HOLDER'S INDEBT- EDNESS OR FAILURE TO MAKE TIMELY PAYMENTS TO ANY OTHER CREDITOR OR CRED- ITORS. 2. A VIOLATION OF SUBDIVISION ONE OF THIS SECTION SHALL CONSTITUTE A MISDEMEANOR. S 2. This act shall take effect on the first day of the calendar month which commences next succeeding the date on which it shall have become a law. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00125-01-1
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