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NY S07302
Bill
Status
Passed
4/18/2018
Primary Sponsor
Jesse Hamilton
Click for details
AI Summary
- Repeals section 2 of the 2017 law relating to pension loan advancement businesses and their regulation by the Department of Financial Services.
- Amends section 3 of the 2017 law to extend the Department of Financial Services reporting deadline from January 1, 2018 to January 1, 2019.
- Requires the Department to submit findings, conclusions, recommendations, and legislative proposals to the superintendent of financial services, governor, temporary president of the senate, speaker of the assembly, and chairs of both senate and assembly banks committees.
- Renumbers section 4 of the 2017 law as section 3.
- Takes effect on the same date and manner as the related 2017 law concerning pension loan advancement regulation.
Legislative Description
Relates to directing the department of financial services to submit a report concerning licensure, limits on fees and interest and disclosure practices of businesses engaged in pension loan advancements on or before January 1, 2019.
Last Action
SIGNED CHAP.23
4/18/2018
Committee Referrals
Banks1/9/2018
Rules1/5/2018
Full Bill Text
No bill text available