Directs the department of state and the public service commission to study and report upon the prevalence of the disclosure by public utilities, cable television companies and cellular telephone service providers to credit reporting agencies of late payments and defaults in payment of fees and charges by consumers.
Summary
Bill S02011 directs the Department of State and the Public Service Commission of New York to jointly study and report on the practices of public utility companies, cable television companies, and cellular service providers regarding the reporting of late payments and defaults to consumer credit reporting agencies. The aim is to evaluate how these practices affect consumers and to recommend necessary regulatory and statutory changes to protect consumer interests. The bill mandates public hearings across the state to gather input and insights from stakeholders and the public.
Impact
If enacted, this bill could lead to significant changes in how consumer payment information is reported by utility and service providers to credit reporting agencies. It may result in new regulations that enhance consumer protection against negative credit reporting due to late payments or defaults on utility services. The findings and recommendations from the study could influence future legislation aimed at improving transparency and fairness in credit reporting practices.
Sentiment
The sentiment around Bill S02011 appears to be largely positive, as indicated by the strong support in committee votes and the final passage in the Senate, where it received a significant majority of votes. The discussions suggest a recognition of the need for consumer protection in the context of credit reporting, reflecting a proactive approach to addressing potential issues faced by consumers.
Contention
While the overall sentiment is supportive, there may be concerns from utility companies regarding the implications of increased regulation and potential changes to their reporting practices. Some stakeholders may argue that such regulations could complicate their operations or affect their ability to manage credit risk effectively. However, specific points of contention were not highlighted in the available discussions.
Same As
Directs the department of state and the public service commission to study and report upon the prevalence of the disclosure by public utilities, cable television companies and cellular telephone service providers to credit reporting agencies of late payments and defaults in payment of fees and charges by consumers.
Directs the department of state and the public service commission to study and report upon the prevalence of the disclosure by public utilities, cable television companies and cellular telephone service providers to credit reporting agencies of late payments and defaults in payment of fees and charges by consumers.
Directs the department of state and the public service commission to study and report upon the prevalence of the disclosure by public utilities, cable television companies and cellular telephone service providers to credit reporting agencies of late payments and defaults in payment of fees and charges by consumers.
Requires cable television, direct broadcast satellite, and television streaming service companies to include certain fees and charges for service in advertised price to consumers.
Enacts the "cellular mapping act"; requires the public service commission to review cellular services within the state; requires the expansion of cellular services.
Enacts the "cellular mapping act"; requires the public service commission to review cellular services within the state; requires the expansion of cellular services.
Instructs the department of financial services to regulate consumer reporting agencies by requiring licensing of credit reporting agencies, and allowing the department to examine the books and records of consumer reporting agencies.
Instructs the department of financial services to regulate consumer reporting agencies by requiring licensing of credit reporting agencies, and allowing the department to examine the books and records of consumer reporting agencies.