A8928B-2011 Actions

• Jun 19, 2012: REFERRED TO RULES
• Jun 19, 2012: delivered to senate
• Jun 19, 2012: passed assembly
• May 24, 2012: advanced to third reading cal.645
• May 22, 2012: reported
• May 8, 2012: print number 8928b
• May 8, 2012: amend and recommit to codes
• Apr 17, 2012: print number 8928a
• Apr 17, 2012: amend and recommit to codes
• Mar 1, 2012: reported referred to codes
• Jan 4, 2012: referred to banks

A8928B-2011 Text

 S T A T E   O F   N E W   Y O R K
 
 8928--B
 I N  ASSEMBLY
 (PREFILED)
 January 4, 2012
 
 Introduced by M. of A. NOLAN, JACOBS, ESPINAL, CASTRO, P. RIVERA, DINOW
 ITZ, BARRON, ROBINSON, JAFFEE, ENGLEBRIGHT, MILLMAN, LINARES, ROBERTS,
 HOOPER,  M. MILLER,  RAMOS, WEPRIN, O'DONNELL -- Multi-Sponsored by -
 M. of A.  ARROYO, BOYLAND, BRONSON, COOK, CRESPO,  GABRYSZAK,  GIBSON,
 GLICK,  ORTIZ,  PERRY,  REILLY,  N. RIVERA, STEVENSON -- read once and
 referred to the Committee on Banks -- reported  and  referred  to  the
 Committee  on  Codes  --  committee  discharged, bill amended, ordered
 reprinted as amended  and  recommitted  to  said  committee  --  again
 reported  from  said  committee  with amendments, ordered reprinted as
 amended and recommitted to said committee
 

AN ACT to amend the banking law, in relation to  requiring  transmitters
 of money to provide a certain warning to consumers
 

THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM
 BLY, DO ENACT AS FOLLOWS:

 

Section 1. The banking law is amended by adding a new section 652-c to
 read as follows:

 

S 652-C. REQUIRED WARNING. 1.   A PERSON ENGAGED IN  THE  BUSINESS  OF
 RECEIVING  MONEY FOR TRANSMISSION OR TRANSMITTING MONEY BY WIRE OR ELEC
 TRONIC TRANSFER WHICH, AT THE REQUEST OF AN INDIVIDUAL WHO IN PERSON, BY
 TELEPHONE OR ELECTRONIC MEANS TRANSMITS FUNDS TO ANOTHER  PERSON,  BUSI
 NESS OR ENTITY, SHALL CLEARLY AND PROMINENTLY WARN THE PERSON REQUESTING
 THE  TRANSMISSION  PRIOR  TO COMPLETING SUCH TRANSMISSION OF FUNDS. SUCH
 WARNING SHALL CONTAIN AT THE MINIMUM THE FOLLOWING STATEMENTS:

 (A) "WARNING: DO NOT FALL VICTIM TO CONSUMER FRAUD."
 (B) "ARE YOU SENDING MONEY TO CLAIM LOTTERY WINNINGS?"
 (C) "ARE YOU SENDING MONEY BECAUSE YOU WERE GUARANTEED A  CREDIT  CARD
 OR LOAN?"
 (D) "ARE YOU RESPONDING TO AN INTERNET OR PHONE OFFER THAT YOU ARE NOT
 SURE IS HONEST?"
 (E) "ARE YOU SENDING MONEY TO SOMEONE YOU DO NOT KNOW OR WHOSE IDENTI
 TY YOU CANNOT VERIFY?"
 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD13850-04-2
 
       A. 8928--B                          2
 (F) "ASK THE SALES CLERK OR REPRESENTATIVE TO STOP YOUR TRANSFER RIGHT
 AWAY  IF  YOU  HAVE ANY QUESTIONS OR ARE UNSURE ABOUT THE NATURE OF YOUR
 TRANSACTION. IT COULD BE FRAUD."
 2.  FOR THE PURPOSES OF THIS SECTION, "CLEARLY AND PROMINENTLY" MEANS:

 (A) IN WRITTEN COMMUNICATIONS, INCLUDING PRINT AND THOSE MADE THROUGH AN
 ELECTRONIC MEDIUM (SUCH AS VIDEO AND INTERACTIVE  MEDIA  INCLUDING,  BUT
 NOT  LIMITED TO, THE INTERNET, ONLINE SERVICES, AND ELECTRONIC MAIL) THE
 WARNING SHALL APPEAR ON THE SAME FORM AS THE FORM USED TO AUTHORIZE  THE
 TRANSMISSION  OF  FUNDS, SHALL BE IN A TYPE SIZE SUFFICIENTLY NOTICEABLE
 FOR AN ORDINARY CONSUMER TO READ AND COMPREHEND THE WRITTEN WARNING  AND
 SHALL  BE IN A TYPE THAT CONTRASTS WITH THE BACKGROUND AGAINST WHICH THE
 WRITTEN WARNING APPEARS; AND (B) IN  ORAL  COMMUNICATIONS,  THE  WARNING
 SHALL  BE  DELIVERED  IN A VOLUME AND CADENCE SUFFICIENT FOR AN ORDINARY
 CONSUMER TO HEAR AND COMPREHEND. IF ANY COMMUNICATION IS PRESENTED SOLE
 LY THROUGH ORAL, WRITTEN OR VISUAL MEANS,  THE  WARNING  SHALL  BE  MADE
 THROUGH THE SAME MEANS.
 3.  THE  WARNING  REQUIRED BY THIS SECTION SHALL NOT APPLY TO AN ELEC
 TRONIC FUNDS TRANSFER IN WHICH FUNDS ARE  NOT  TRANSFERRED  DIRECTLY  TO
 ANOTHER  PERSON  AND  ARE NOT AVAILABLE FOR IMMEDIATE USE, NOR SHALL ANY
 WARNING BE REQUIRED IN AN ELECTRONIC FUNDS TRANSFER  MADE  WITH  A  GIFT
 CERTIFICATE  AS  DEFINED  IN  SECTION  THREE HUNDRED NINETY-SIX-I OF THE
 GENERAL BUSINESS LAW.
 4. A VIOLATION OF THE PROVISIONS OF THIS SECTION SHALL  BE  PUNISHABLE
 BY  A  CIVIL  PENALTY OF NOT MORE THAN TWO HUNDRED FIFTY DOLLARS FOR THE
 FIRST VIOLATION AND FIVE HUNDRED DOLLARS FOR EACH SUBSEQUENT VIOLATION.
 

S 2. This act shall take effect on the one hundred eightieth day after
 it shall have become a law.

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