What's happening
This bill requires credit reporting agencies to notify consumers by mail and email whenever their credit report is accessed.
Why it matters
Provides consumers with real-time awareness of who is accessing their credit information. , which can help them detect potential fraud or unauthorized inquiries much faster than before.
Empowers consumers to take immediate action. if they notice suspicious or unexpected credit report requests, potentially preventing identity theft or financial harm.
Increases transparency and accountability for credit reporting agencies. by requiring them to disclose not just that a report was accessed, but also who requested it, the nature and timing of the request, and any associated loan details if available.
May lead to a reduction in unauthorized or frivolous credit checks. , as organizations requesting credit reports know consumers will be informed, possibly leading to more careful handling of personal credit data.
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Who cares
Headline styles
Notify Consumers of Credit Checks
Plain English, a few words. Used as the page title.
Sponsors
Senator · Senate District 14
1 Co-sponsor
History
- Referred to consumer protection
- Referred to consumer protection
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.
Notify Consumers of Credit Checks
In Assembly Committee · Consumer Affairs And Protection · Sponsor Yuh-Line Niou
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
4421
2019-2020 Regular Sessions
IN SENATE
March 11, 2019
Introduced by Sen. COMRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Consumer Protection
AN ACT to amend the general business law, in relation to requiring credit reporting agencies contact consumers when an inquiry is made into their credit history
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Section 380-d of the general business law is amended by adding a new subdivision (a-1) to read as follows:
(a-1) Every consumer reporting agency shall, upon the occurrence of a consumer report requested on any consumer, notify such consumer of the request by mail and electronic mail. Once notified, the consumer may contact the consumer reporting agency who shall provide such consumer with the name of the person that requested the report, the nature of the request, the date of the request, and the amount of any potential loan, if known. Such consumer shall provide the consumer reporting agency sufficient proof of identification pursuant to subdivision (t) of section three hundred eighty-a of this article before the consumer may receive any information in accordance with this subdivision.
§ 2. This act shall take effect on the ninetieth day after it shall have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD02257-01-9
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Sponsor's memo
Title of bill
An act to amend the general business law, in relation to requiring credit reporting agencies contact consumers when an inquiry is made into their credit history
Purpose or general idea of bill
The purpose of this bill is to require credit reporting agencies contact consumers when an inquiry is made into their credit history to better provide control and awareness to consumers regarding aspects of their credit.
Summary of provisions
Section 380-d of the general business law is amended by adding a new subdivision (a-i) which requires that a consumer reporting agency, upon the occurrence of a consumer report request on any consumer, notify the consumer. It further allows the consumer to contact the consumer report- ing agency who shall provide information regarding the report, given the consumer can sufficiently provide identification.
Justification
Recent breaches to consumer privacy and information have created circum- stances which require further protection of consumers. Providing the tools and information to consumers is a necessary step in creating a safer and more protective environment for consumers. This bill alerts consumers to potential threats to their credit and provides them with the ability to access important information. Consumers are better able to safeguard themselves from unwarranted damage to their credit with this information.
Prior legislative history
2018: 58303(Comrie)/A10411(Niou) - referred to consumer protection/referred to consumer affairs and protection
Fiscal implications for state and local governments
None.
Effective date
This act shall take effect 90 days
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.