Senate Bill S666B

2023-2024 Legislative Session

Relates to licensing consumer debt collectors

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Current Bill Status - In Senate Committee Finance 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

2023-S666 - Details

Current Committee:
Senate Finance
Law Section:
Banking Law
Laws Affected:
Add Art 7 §§295 - 305, amd §§36 & 44, Bank L; amd §3218, add §5022, CPLR
Versions Introduced in Other Legislative Sessions:
2009-2010: S7071
2011-2012: S1439
2013-2014: S219
2015-2016: S190
2017-2018: S1999, S7099
2019-2020: S2343
2021-2022: S3121

2023-S666 - Summary

Relates to licensing consumer debt collectors; sets minimum standards and regulations; establishes penalties for violations.

2023-S666 - Sponsor Memo

2023-S666 - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    666
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              January 5, 2023
                                ___________
 
 Introduced  by Sen. KAVANAGH -- read twice and ordered printed, and when
   printed to be committed to the Committee on Banks
 
 AN ACT to amend the banking law and the civil practice law and rules, in
   relation to licensing consumer debt collectors
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The  banking  law is amended by adding a new article 7 to
 read as follows:
                                ARTICLE VII
                     LICENSED CONSUMER DEBT COLLECTORS
 SECTION 295. DEFINITIONS.
         296. LICENSE REQUIRED; ENTITIES EXEMPT.
         297. APPLICATION FOR LICENSE; FEES.
         298. SURETY BOND REQUIRED.
         299. EXAMINATION; BOOKS AND RECORDS; REPORTS.
         300. PROHIBITED ACTS.
         301. REGULATIONS; MINIMUM STANDARDS.
         302. APPLICATION FOR ACQUISITION OF CONTROL OF A  CONSUMER  DEBT
                COLLECTOR.
         303. SUSPENSION AND REVOCATION.
         304. BAD ACTORS.
         305. PENALTIES.
         306. PREEMPTION.
   § 295. DEFINITIONS. AS USED IN THIS ARTICLE:
   1. "APPLICANT" MEANS A CONSUMER DEBT COLLECTOR WHO HAS FILED AN APPLI-
 CATION TO OBTAIN A LICENSE UNDER THIS ARTICLE.
   2.  "COMMUNICATION"  AND "COMMUNICATE" MEANS THE CONVEYING OF INFORMA-
 TION REGARDING A DEBT DIRECTLY OR INDIRECTLY TO ANY PERSON  THROUGH  ANY
 MEDIUM.
   3.  "CONSUMER  DEBT"  MEANS ANY OBLIGATION OF A NATURAL PERSON FOR THE
 PAYMENT OF MONEY OR ITS EQUIVALENT WHICH ARISES  OUT  OF  A  TRANSACTION
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03040-01-3
              

2023-S666A - Details

Current Committee:
Senate Finance
Law Section:
Banking Law
Laws Affected:
Add Art 7 §§295 - 305, amd §§36 & 44, Bank L; amd §3218, add §5022, CPLR
Versions Introduced in Other Legislative Sessions:
2009-2010: S7071
2011-2012: S1439
2013-2014: S219
2015-2016: S190
2017-2018: S1999, S7099
2019-2020: S2343
2021-2022: S3121

2023-S666A - Summary

Relates to licensing consumer debt collectors; sets minimum standards and regulations; establishes penalties for violations.

2023-S666A - Sponsor Memo

2023-S666A - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  666--A
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              January 5, 2023
                                ___________
 
 Introduced  by Sen. KAVANAGH -- read twice and ordered printed, and when
   printed to be committed to the Committee on Banks -- reported  favora-
   bly  from  said committee and committed to the Committee on Finance --
   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 licensing consumer debt collectors
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The banking law is amended by adding a  new  article  7  to
 read as follows:
                                ARTICLE VII
                     LICENSED CONSUMER DEBT COLLECTORS
 SECTION 295. DEFINITIONS.
         296. LICENSE REQUIRED; ENTITIES EXEMPT.
         297. APPLICATION FOR LICENSE; FEES.
         298. SURETY BOND REQUIRED.
         299. EXAMINATION; BOOKS AND RECORDS; REPORTS.
         300. PROHIBITED ACTS.
         301. REGULATIONS; MINIMUM STANDARDS.
         302. APPLICATION  FOR  ACQUISITION OF CONTROL OF A CONSUMER DEBT
                COLLECTOR.
         303. SUSPENSION AND REVOCATION.
         304. BAD ACTORS.
         305. PENALTIES.
         306. PREEMPTION.
   § 295. DEFINITIONS. AS USED IN THIS ARTICLE:
   1. "AFFILIATED COMPANY" MEANS  A  CONSUMER  DEBT  COLLECTOR  OPERATING
 UNDER  THE  CONTROL  OF A LICENSEE, PROVIDED THAT THE AFFILIATED COMPANY
 SHARES COMMON FACILITIES, MANAGEMENT, AND OPERATIONS WITH  THE  LICENSEE
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03040-05-3
 S. 666--A                           2
              

2023-S666B (ACTIVE) - Details

Current Committee:
Senate Finance
Law Section:
Banking Law
Laws Affected:
Add Art 7 §§295 - 305, amd §§36 & 44, Bank L; amd §3218, add §5022, CPLR
Versions Introduced in Other Legislative Sessions:
2009-2010: S7071
2011-2012: S1439
2013-2014: S219
2015-2016: S190
2017-2018: S1999, S7099
2019-2020: S2343
2021-2022: S3121

2023-S666B (ACTIVE) - Summary

Relates to licensing consumer debt collectors; sets minimum standards and regulations; establishes penalties for violations.

2023-S666B (ACTIVE) - Sponsor Memo

2023-S666B (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  666--B
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                              January 5, 2023
                                ___________
 
 Introduced  by Sen. KAVANAGH -- read twice and ordered printed, and when
   printed to be committed to the Committee on Banks -- reported  favora-
   bly  from  said committee and committed to the Committee on Finance --
   committee discharged, bill amended, ordered reprinted as  amended  and
   recommitted to said committee -- recommitted to the Committee on Banks
   in  accordance  with  Senate Rule 6, sec. 8 -- reported favorably from
   said committee and committed to the Committee on Finance --  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 licensing consumer debt collectors
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The banking law is amended by adding a  new  article  7  to
 read as follows:
                                ARTICLE VII
                     LICENSED CONSUMER DEBT COLLECTORS
 SECTION 295. DEFINITIONS.
         296. LICENSE REQUIRED; ENTITIES EXEMPT.
         297. APPLICATION FOR LICENSE; FEES.
         298. SURETY BOND REQUIRED.
         299. EXAMINATION; BOOKS AND RECORDS; REPORTS.
         300. PROHIBITED ACTS.
         301. REGULATIONS; MINIMUM STANDARDS.
         302. APPLICATION  FOR  ACQUISITION OF CONTROL OF A CONSUMER DEBT
                COLLECTOR.
         303. SUSPENSION AND REVOCATION.
         304. BAD ACTORS.
         305. PENALTIES.
   § 295. DEFINITIONS. AS USED IN THIS ARTICLE:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD03040-15-4
 S. 666--B                           2
              

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