New York S 2198: Prohibits consumer reporting agencies and lenders from using an individual's late payment of cashless tolls to determine their credit worthiness

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S02198 Summary:

BILL NOS02198 

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SAME ASSAME AS A03055

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SPONSORCOMRIE

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COSPNSRADDABBO, BAILEY, FERNANDEZ, KRUEGER, PERSAUD, SANDERS, SCARCELLA-SPANTON, STAVISKY

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MLTSPNSR

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Amd §380-j, Gen Bus L; amd §352, Bank L

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Prohibits consumer reporting agencies and lenders from using an individual's late payment of cashless tolls to determine their credit worthiness.

Go to top S02198 Actions:

BILL NOS02198 

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01/15/2025REFERRED TO CONSUMER PROTECTION

01/07/2026REFERRED TO CONSUMER PROTECTION

Go to topS02198 Committee&nbspVotes:

Go to topS02198 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS02198 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 2198

 2025-2026 Regular Sessions

 IN SENATE

 January 15, 2025
 ___________

 Introduced by Sens. COMRIE, ADDABBO, BAILEY, KRUEGER, PERSAUD, SANDERS,
 STAVISKY -- read twice and ordered printed, and when printed to be
 committed to the Committee on Consumer Protection

 AN ACT to amend the general business law and the banking law, in
 relation to prohibiting a consumer reporting agency or lender from
 using an individual's late payment of cashless tolls to determine such
 individual's credit worthiness

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Subparagraphs (viii) and (ix) of paragraph 1 of subdivision
 2 (f) of section 380-j of the general business law, as amended by chapter
 3 727 of the laws of 2023, are amended to read as follows:
 4 (viii) information relating to a medical debt regardless of the date
 5 it was incurred; [or]
 6 (ix) late payments of any cashless tolls; or
 7 (x) any other adverse information which antedates the report by more
 8 than seven years.
 9 § 2. Section 352 of the banking law is amended by adding a new ninth
 10 undesignated paragraph to read as follows:
 11 No licensee shall collect, evaluate, report or maintain in the file on
 12 a borrower the borrower's late payment of cashless tolls as a factor to
 13 determine the borrower's credit worthiness, credit standing or credit
 14 capacity. The superintendent shall ensure that the credit scoring
 15 formulas filed with the department do not contain variables which
 16 account for late payment of cashless tolls as part of that formula by
 17 asking the licensee to certify to that fact.
 18 § 3. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04317-01-5

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