New York A 10640: Relates to establishing energy efficiency measures by the public service commission and the New York state energy research and development authority

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A10640 Summary:

BILL NOA10640 

&nbsp

SAME ASSAME AS S09483

&nbsp

SPONSORVanel

&nbsp

COSPNSRTapia, Weprin

&nbsp

MLTSPNSR

&nbsp

Add Art 14-C §§800 - 805, Bank L

&nbsp

Provides for the accessibility of consumer financial data; prohibits fees for the transfer of such data to authorized parties.

Go to top A10640 Actions:

BILL NOA10640 

&nbsp

03/13/2026referred to banks

Go to topA10640 Committee&nbspVotes:

Go to topA10640 Floor&nbspVotes:

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

Go to topA10640 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 10640

 IN ASSEMBLY

 March 13, 2026
 ___________

 Introduced by M. of A. VANEL -- read once and referred to the Committee
 on Banks

 AN ACT to amend the banking law, in relation to the accessibility of
 consumer financial data and the prohibition of fees for the transfer
 of such data to authorized parties

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

 1 Section 1. Short title. This act shall be known and may be cited as
 2 the "New York financial data rights act".
 3 § 2. The banking law is amended by adding a new article 14-C to read
 4 as follows:
 5 ARTICLE 14-C
 6 CONSUMER AND SMALL BUSINESS FINANCIAL DATA RIGHTS
 7 Section 800. Definitions.
 8 801. Consumer and small business right to data portability.
 9 802. Prohibition of fees for data access.
 10 803. Authorized representative obligations.
 11 804. Security standards.
 12 805. Enforcement and penalties.
 13 § 800. Definitions. As used in this article, the following terms shall
 14 have the following meanings:
 15 1."Authorized representative" means any person or entity, other than
 16 the financial institution holding the data, that seeks to access covered
 17 data with the consumer's or small business's consent pursuant to section
 18 eight hundred three of this article.
 19 2. "Consumer" means an individual who resides in the state of New
 20 York.
 21 3. "Financial institution" means:
 22 (a) a banking organization as defined in subdivision eleven of section
 23 two of this chapter;
 24 (b) any out-of-state state bank as defined in subdivision two of
 25 section two hundred twenty-two of this chapter that maintains a finan-
 26 cial product or service for a resident in this state;
 27 (c) any person or entity acting as a custodian for financial assets as
 28 described in section 11-1.9 of the estates, powers and trusts law; and
 29 (d) any other data provider regulated by the department that maintains
 30 a financial product or service for a resident of this state.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD15201-02-6

 A. 10640 2

 1 4."Covered data" means the following information relating to a consum-
 2 er or small business in the control or possession of a financial insti-
 3 tution:
 4 (a) Transaction information, including amounts, dates, payment types,
 5 pending or authorized status, and payee or merchant names, for at least
 6 twenty-four months preceding the request;
 7 (b) Account balance information;
 8 (c) Information to initiate payment to or from a covered account,
 9 including account numbers;
 10 (d) Terms and conditions of the consumer or small business, financial
 11 product or service, including interest rates, credit limits, overdraft
 12 coverage, rewards, and fee schedules;
 13 (e) Upcoming bill information, including amounts and due dates; and
 14 (f) Account and identity verification information, including name,
 15 address, and contact information.
 16 5. "Exempt data" means information that a financial institution is not
 17 required to make available, subject to the requirements in subdivision
 18 two of section eight hundred one of this article, consisting of:
 19 (a) Any confidential commercial information, including proprietary
 20 algorithms used to derive credit or risk scores;
 21 (b) Information collected solely for the purpose of preventing fraud
 22 or money laundering;
 23 (c) Information required to be kept confidential by any other
 24 provision of law; and
 25 (d) Any information the financial institution cannot retrieve in the
 26 ordinary course of business.
 27 § 801. Consumer and small business ri