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NY A07814
Bill
Status
Introduced
6/15/2023
Primary Sponsor
Charles Lavine
Click for details
AI Summary
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Removes the requirement that fraud must be "intentional" to trigger civil penalties under the financial services law
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Removes the requirement that misrepresentation of a material fact must be "intentional" to trigger civil penalties
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Expands liability for fraud or misrepresentation involving financial products, services, or providers of such products and services
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Allows civil penalties to be imposed for negligent or unintentional fraud and misrepresentation, not just willful violations
Legislative Description
Relates to civil penalties for certain fraud or misrepresentation of a material fact with respect to a financial product or service.
Last Action
reported referred to rules
5/28/2024
Committee Referrals
Rules5/28/2024
Codes5/14/2024
Banks6/15/2023
Full Bill Text
No bill text available