Posted December 08, 2017 13:14:07 New York is poised to adopt legislation that would require companies to disclose consumer information, such as credit scores, when it seeks a license to offer financial products.
The law would apply to all companies that offer consumer-focused financial services, including prepaid cards, credit-monitoring products, and payment services.
The measure would also apply to companies that are not in the financial services business, such a technology companies.
The legislation is designed to provide consumers with more information when they apply for licenses to offer a financial product.
The proposal was supported by Wall Street investors in the form of the New York Stock Exchange, which issued an announcement on Thursday announcing that the company had begun taking steps to enforce the law.
The legislation was initially introduced in March by Senator Diane Feinstein, who is a member of the Senate Banking Committee, and Senator Chuck Schumer, the ranking Democrat on the committee.
Schumer said that the legislation would provide consumers more information about financial products and to encourage financial firms to take action to address the problems of financial fraud and consumer protection.
The New York State Attorney General, Michael Cohen, said the legislation is needed to help combat the growing problem of consumer fraud, and said that if passed, the legislation will create an incentive for financial firms and others to protect consumers.
“This bill is designed for Wall Street companies to protect their shareholders and consumers from the growing crisis of fraud,” Cohen said.
A bill that would provide greater protections for consumers and businesses.
The bill would also prohibit state and local governments from requiring financial firms that offer financial services to provide credit reports to the public.
A bill that was proposed last year by Senator Elizabeth Warren, D-Mass., would have required financial firms not to disclose financial information to the state or to federal authorities, including the Securities and Exchange Commission, unless the financial firm receives a court order.
The proposal was rejected by a vote of 17-7.
The legislation is intended to address two problems that are growing in financial institutions.
First, there are more and more firms that are creating fake credit reports that don’t exist, creating false debts and credit card issuances.
This has resulted in a large number of consumers being ripped off, and financial institutions are paying little or no attention to the issue.
The second problem is the increasing use of credit monitoring products that are intended to monitor the financial health of a person or business.
“In many cases, consumers are being defrauded and defrapped,” the New Jersey Senator said.
“They may have paid the bill on time, but they have also been cheated by the financial institutions and their employees.”
The Financial Services Roundtable, a group of leading financial institutions, has called on the US government to take stronger action against financial fraud, including cracking down on financial firms who engage in consumer protection fraud.
The group says that the number of consumer complaints against financial institutions is growing every year, and the industry needs to take effective action to reduce fraud and protect consumers and investors.
Financial industry leaders have expressed support for the legislation.
“While consumers are increasingly relying on financial companies to do their due diligence, it is imperative that these companies provide consumer protection and consumer information to consumers,” the Wall Street Group, a consumer financial services trade group, said in a statement.
“The Consumer Financial Protection Bureau, along with the Securities & Exchange Commission and state attorneys general, must continue to work to enforce laws and regulations to protect investors and consumers, and we urge the administration to take swift action to enact the consumer protection legislation that is necessary to ensure the safety of consumers.”
In addition to the new law, the NYS Attorney General is also drafting a new consumer protection law that would address consumer privacy.