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NY S00876
Bill
Status
1/28/2021
Primary Sponsor
Leroy Comrie
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AI Summary
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Amends a 2020 law to replace a required study on consumer financial education with a requirement that the Department of Financial Services provide consumer financial literacy information on its website by January 1, 2022.
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Website information must cover basic banking and personal financial management, credit score determination and credit building, investment and savings options, and best practices for protecting personal information.
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Requires all state agencies and authorities to submit relevant information to the Department of Financial Services by November 1, 2021, and annually thereafter with updates or new materials.
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Department must update posted information on its website as necessary but no less than annually and maintain information in printable format.
Legislative Description
Directs a study of the status of consumer awareness and financial education in New York state to instead require that the department of financial services website provide information to enhance consumer financial literacy and consumer awareness which shall include information on basic banking and personal financial management, how credit scores are determined and ways to establish good credit, options for investing and increasing savings, best practices for protecting personal information, and any other topics deemed appropriate by the superintendent.
Last Action
SIGNED CHAP.14
1/28/2021