NY A00986

Department of Financial Services must examine, evaluate, and make recommendations concerning licensure, limits on fees and interest, and disclosure practices of pension loan advancement businesses

Department must hold public hearings during the course of its examination and evaluation

Department must submit a report by January 1, 2017 to the superintendent of financial services, the governor, and the legislature with findings, conclusions, and recommendations

Report must include legislative and regulatory proposals the department deems necessary to implement its recommendations

Act takes effect immediately upon enactment