Assembly Bill A3041A

2021-2022 Legislative Session

Requires debt collection agencies to be licensed by the state

download bill text pdf

Sponsored By

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

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Bill Amendments

co-Sponsors

2021-A3041 - Details

Current Committee:
Assembly Consumer Affairs And Protection
Law Section:
Banking Law
Laws Affected:
Add Art 7 §§295 - 300, Bank L; amd R3015, CPLR
Versions Introduced in Other Legislative Sessions:
2009-2010: A3926
2011-2012: A1028, A8429
2013-2014: A455
2015-2016: A408
2017-2018: A5244, A8112, A9766
2019-2020: A7191
2023-2024: A4088

2021-A3041 - Summary

Requires debt collection agencies to be licensed by the state; requires bonding and allows for penalties.

2021-A3041 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3041
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 22, 2021
                                ___________
 
 Introduced  by  M. of A. GUNTHER, SEAWRIGHT -- read once and referred to
   the Committee on Consumer Affairs and Protection
 
 AN ACT to amend the banking law and the civil practice law and rules, in
   relation to licensed consumer debt collectors
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Legislative  intent.    The  legislature hereby finds the
 presence  of consumer-related problems with respect to the practices  of
 debt  collection  agencies.  Federal  and  state  laws regulate how debt
 collectors may communicate with debtors and prohibit the use of  certain
 threatening,   deceptive   and   unfair collection   practices.  Despite
 these   legal  protections,  there  continue  to  be  frequent  consumer
 complaints regarding debt collection practices.  Due  to  the  sensitive
 nature  of  the  information used in the course of debt collection agen-
 cies' work, and the vulnerable position consumers may find themselves in
 when dealing with these agencies, it is incumbent upon this  legislature
 to ensure that agencies that engage in unscrupulous or abusive practices
 shall  not  continue to operate in this state. To protect the interests,
 reputations, and financial wellbeing of residents  of  this  state  from
 unwarranted  harm, the legislature hereby declares that the state should
 not permit debt collection agencies to operate without  a  license  from
 the state.
   §  2.  The banking law is amended by adding a new article 7 to read as
 follows:
                                 ARTICLE 7
                     LICENSED CONSUMER DEBT COLLECTORS
 SECTION 295. DEFINITIONS.
         296. DEBT COLLECTION AGENCIES.
         297. SURETY BONDING REQUIREMENT.
         298. PENALTIES.
         299. EXAMINATIONS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

co-Sponsors

2021-A3041A (ACTIVE) - Details

Current Committee:
Assembly Consumer Affairs And Protection
Law Section:
Banking Law
Laws Affected:
Add Art 7 §§295 - 300, Bank L; amd R3015, CPLR
Versions Introduced in Other Legislative Sessions:
2009-2010: A3926
2011-2012: A1028, A8429
2013-2014: A455
2015-2016: A408
2017-2018: A5244, A8112, A9766
2019-2020: A7191
2023-2024: A4088

2021-A3041A (ACTIVE) - Summary

Requires debt collection agencies to be licensed by the state; requires bonding and allows for penalties.

2021-A3041A (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  3041--A
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 22, 2021
                                ___________
 
 Introduced  by  M. of A. GUNTHER, SEAWRIGHT -- read once and referred to
   the  Committee  on  Consumer  Affairs  and  Protection  --   committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 AN ACT to amend the banking law and the civil practice law and rules, in
   relation to licensed consumer debt collectors
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Legislative intent.    The  legislature  hereby  finds  the
 presence   of consumer-related problems with respect to the practices of
 debt collection agencies. Federal  and  state  laws  regulate  how  debt
 collectors may communicate with debtors and prohibit the use of  certain
 threatening,    deceptive   and   unfair collection   practices. Despite
 these  legal  protections,  there  continue  to  be  frequent   consumer
 complaints  regarding  debt  collection  practices. Due to the sensitive
 nature of the information used in the course of  debt  collection  agen-
 cies' work, and the vulnerable position consumers may find themselves in
 when  dealing with these agencies, it is incumbent upon this legislature
 to ensure that agencies that engage in unscrupulous or abusive practices
 shall not continue to operate in this state. To protect  the  interests,
 reputations,  and  financial  wellbeing  of residents of this state from
 unwarranted harm, the legislature hereby declares that the state  should
 not  permit  debt  collection agencies to operate without a license from
 the state.
   § 2. The banking law is amended by adding a new article 7 to  read  as
 follows:
                                 ARTICLE 7
                     LICENSED CONSUMER DEBT COLLECTORS
 SECTION 295. DEFINITIONS.
         296. DEBT COLLECTION AGENCIES.
         297. SURETY BONDING REQUIREMENT.

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

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