What's happening
This bill prohibits lenders and credit agencies from using late cashless toll payments to determine a person's creditworthiness.
Why it matters
Protects consumers from disproportionate financial consequences. by ensuring that missing or delaying payment on cashless tolls—often relatively small amounts—cannot negatively affect a person's ability to access credit or loans.
Prevents escalation of minor administrative errors. (such as overlooked toll bills or mail issues) into major financial setbacks, reducing the risk that a simple mistake could harm long-term financial opportunities.
Requires regulatory oversight and accountability. , mandating both the state banking superintendent and consumer protection director to monitor and respond to complaints, and compelling lenders to certify that their credit scoring models do not consider late toll payments.
Addresses fairness in credit reporting. by drawing a clear line between civil penalty enforcement (toll collection) and creditworthiness assessment, reinforcing that a person’s credit rating should reflect true financial risk, not minor infractions unrelated to traditional credit behavior.
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Who cares
Headline styles
Protect Credit from Toll Fines
Plain English, a few words. Used as the page title.
Sponsors
Assembly Member · Assembly District 23
No co-sponsors yet.
History
- Referred to consumer affairs and protection
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
10391
IN ASSEMBLY
April 18, 2018
Introduced by M. of A. PHEFFER AMATO -- 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 Assembly, do enact as follows:
Section 1. Section 380-j of the general business law is amended by adding a new subdivision (h) to read as follows:
(h) No consumer reporting agency shall collect, evaluate, report, or maintain in the file on a consumer the consumer's late payment of any cashless tolls as a factor to determine the consumer's credit worthiness, credit standing or credit capacity.
§ 2. Section 352 of the banking law is amended by adding a new eighth undesignated paragraph to read as follows:
No licensee shall collect, evaluate, report or maintain in the file on a borrower the borrower's late payment of cashless tolls as a factor to determine the borrower's credit worthiness, credit standing or credit capacity. The provisions of this paragraph shall be enforced concurrently by the superintendent and the director of the division of consumer protection and each shall utilize their consumer complaint and assistance hotlines to document complaints by borrowers who believe that their late payment of cashless tolls is being used to deny them credit. The superintendent shall ensure that the credit scoring formulas filed with the department do not contain variables which account for late payment of cashless tolls as part of that formula by asking the licensee to certify to that fact.
§ 3. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD14953-01-8
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.