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- Referred to banks
- Referred to banks
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Provides that there shall be no solicitation for credit card holders through state or city university of NY unless credit education courses are provided
In Assembly Committee · Banks · Sponsor Hakeem Jeffries
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the banking law and the education law, in relation to prohibiting the state university of New York and the city university of New York from permitting any persons to solicit persons to become holders of credit cards unless credit education courses are provided
Purpose or general idea of the bill
The establishment of credit education courses for college students interested becoming card holders.
Summary of specific provisions
Amends the banking law by adding section 9500 to prohibit the State University of New York from permitting the solicitation of credit cards on campuses to enrolled students unless credit education courses are provided. Amends the banking law by adding section 9501 to prohibit the City University of New York from permitting the solicitation of credit cards on campuses to enrolled students unless credit education courses are provided. Amends the education law by adding section 355-d to prohibit the State University of New York from permitting the solicitation of credit cards on campuses to enrolled students unless credit education courses are provided. Amends the education law by adding section 6204-b to prohibit the City University of New York from permitting the solicitation of credit cards on campuses to enrolled students unless credit education courses are provided.
Justification
With the rising cost of tuition at SUNY and CUNY campuses sound budgetary spending by enrolled students is more important than ever before. Many students on State and City University campuses acquire credit cards because there is an open door policy permitting solicitation. Credit card companies target young college students because of their necessity to purchase numerous goods and services throughout their educational experience. More often than not these credit card solicitors fail to warn college students of the responsibilities involved with being credit card holders. We believe this is unacceptable negligence on the part of the credit card solicitors. The goal of this bill is to educate young college students about credit awareness and the repercussions of falling into credit indebtedness. It is our hope that credit education courses become a mandatory element in qualification for students of both SUNY and CUNY campuses requesting to become credit card holders, for their own protection.
Prior legislative history
2006: S.1639, 2007: S.3783
Fiscal implications
None to state government.
Effective date
This act shall take effect on the first of September next succeeding the date on which it shall have become law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.