Bill Text: NY S00775 | 2021-2022 | General Assembly | Introduced

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Bill Title: Prohibits negative credit reporting on consumers who have suffered financial harm as a result of the declared state of emergency relating to the coronavirus.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-01-05 - REFERRED TO CONSUMER PROTECTION [S00775 Detail]

Download: New_York-2021-S00775-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                           775

                               2021-2022 Regular Sessions

                    IN SENATE

                                       (Prefiled)

                                     January 6, 2021
                                       ___________

        Introduced  by  Sen.  THOMAS -- 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, in relation to  prohibiting  a
          consumer  reporting  agency from reporting certain adverse information
          during the state of emergency caused by the novel coronavirus  pandem-
          ic;  and  providing  for the repeal of such provisions upon expiration
          thereof

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

     1    Section  1.  Section  380-j  of the general business law is amended by
     2  adding a new subdivision (i) to read as follows:
     3    (i) (1) No consumer reporting agency  shall  report  any  new  adverse
     4  information  that is a result of the novel  coronavirus pandemic (COVID-
     5  19) in a consumer report pertaining to an affected person  who  notifies
     6  the agency pursuant to paragraph three of this subdivision.
     7    (2)  For  the  purposes of this subdivision, the following terms shall
     8  have the following meanings:
     9    (i)   "affected person" shall mean a resident  of  New  York  who  has
    10  suffered financial hardship as a result of the novel coronavirus pandem-
    11  ic (COVID-19);
    12    (ii)  "the  novel  coronavirus pandemic (COVID-19)" shall refer to the
    13  period of the state of emergency declared by executive order two hundred
    14  two on March seventh, two thousand  twenty  and  for  purposes  of  this
    15  subdivision  shall include a period of ninety days following the conclu-
    16  sion of such state of emergency;
    17    (iii) "adverse information that is a result of the  novel  coronavirus
    18  pandemic  (COVID-19)"  shall  mean  any adverse information regarding an
    19  affected person's late payments, default,  or  non-payment  of  consumer
    20  debt  or  other financial obligations, or a creditor's exercise of reme-

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD03448-01-1
        S. 775                              2

     1  dies arising from such late payments, default, or non-payment where  the
     2  event occurs during the novel coronavirus pandemic (COVID-19).
     3    (3)  An  affected person may contact any consumer reporting agency and
     4  request that the agency disregard any  adverse  information  that  is  a
     5  result of the novel coronavirus pandemic (COVID-19). The affected person
     6  shall  include in the request proof of financial hardship resulting from
     7  the coronavirus pandemic.
     8    (4) Any consumer  reporting  agency  that  receives  a  request  shall
     9  respond  to the affected person and the superintendent of the department
    10  of financial services within five days of receiving the request.
    11    (5) No charge shall be imposed by a consumer reporting agency pursuant
    12  to section three hundred eighty-d of this article with  respect  to  the
    13  request made by a consumer pursuant to this subdivision.
    14    (6)  The provisions of this subdivision shall be enforced concurrently
    15  by the superintendent of financial services  and  the  director  of  the
    16  division of consumer protection.
    17    §  2.  This  act  shall take effect immediately and shall be deemed to
    18  have been in full force and effect on and after March 7, 2020;  provided
    19  that  the  provisions  of  this  act shall expire and be deemed repealed
    20  ninety days after the expiration of  the  declared  state  of  emergency
    21  relating  to  the  novel  coronavirus (COVID-19); and provided, further,
    22  that the superintendent of financial services shall notify the  legisla-
    23  tive  bill  drafting commission upon the occurrence of the expiration of
    24  the state disaster emergency declared by executive order number 202  and
    25  any  further amendments or modifications, and as may be further extended
    26  pursuant to section 28 of the executive law, in order that  the  commis-
    27  sion  may  maintain  an  accurate  and timely effective data base of the
    28  official text of the laws of the state of New  York  in  furtherance  of
    29  effectuating  the  provisions  of  section 44 of the legislative law and
    30  section 70-b of the public officers law.