A 3055: Prohibits consumer reporting agencies and lenders from using an individual's late payment of cashless tolls to determine their credit worthiness.

  
  STATE OF NEW YORK ________________________________________________________________________ 3055 2025-2026 Regular Sessions  IN ASSEMBLY January 23, 2025 ___________ Introduced by M. of A. R. CARROLL, REYES -- read once and referred to the Committee on Consumer Affairs and Protection AN ACT to amend the general business law and the banking law, in relation to prohibiting a consumer reporting agency or lender from using an individual's late payment of cashless tolls to determine such individual's credit worthiness The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subparagraphs (viii) and (ix) of paragraph 1 of subdivision 2 (f) of section 380-j of the general business law, as amended by chapter 3 727 of the laws of 2023, are amended to read as follows: 4 (viii) information relating to a medical debt regardless of the date 5 it was incurred; [or] 6 (ix) late payments of any cashless tolls; or 7 (x) any other adverse information which antedates the report by more 8 than seven years. 9 § 2. Section 352 of the banking law is amended by adding a new ninth 10 undesignated paragraph to read as follows: 11 No licensee shall collect, evaluate, report or maintain in the file on 12 a borrower the borrower's late payment of cashless tolls as a factor to 13 determine the borrower's credit worthiness, credit standing or credit 14 capacity. The superintendent shall ensure that the credit scoring 15 formulas filed with the department do not contain variables which 16 account for late payment of cashless tolls as part of that formula by 17 asking the licensee to certify to that fact. 18 § 3. This act shall take effect immediately. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04317-01-5