Requires entities that access a consumer's consumer credit report to notify such consumer of their right to obtain a security freeze, in addition to other information necessary to place, temporarily lift or permanently lift such security freeze; prohibits notices to consumers of their right to obtain a security freeze from containing advertising for paid services.
Impact
If enacted, A08906 would significantly enhance consumer protection regarding personal credit information in New York. The bill aims to ensure that consumers are well-informed about their rights concerning credit reporting and security measures available to them. By enforcing clear and direct communication from companies who access such sensitive information, the bill is likely to foster a more consumer-friendly environment in financial transactions.
Summary
Assembly Bill A08906 seeks to amend the general business law by mandating that entities accessing consumer credit reports notify consumers of their legal right to impose a security freeze. In addition, the bill requires these notifications to include necessary details that consumers may require to request the placing, lifting temporarily, or permanently lifting such security freezes. One of the critical aspects of this legislation is the prohibition against including promotional materials for paid services within the notices sent to consumers.
Contention
There may be points of contention regarding the balance between consumer protection and the operational burden that these requirements may impose on businesses. Critics may argue that additional notification requirements could potentially confuse consumers or lead to unintended consequences, such as inundating them with information. Furthermore, businesses might express concerns about the logistics of implementing these mandates and adhering to the regulations without compromising compliance.
Notable_points
Overall, A08906 aligns with a growing trend of legislation prioritizing consumer rights and privacy. The bill's emphasis on prohibiting promotional content in consumer notifications signals a shift towards protecting consumers from potential exploitation by third-party services seeking to capitalize on credit issues. Legislative discussions around this bill may highlight broader themes in consumer rights advocacy and the necessity for transparent financial practices.
Same As
Requires entities that access a consumer's consumer credit report to notify such consumer of their right to obtain a security freeze, in addition to other information necessary to place, temporarily lift or permanently lift such security freeze; prohibits notices to consumers of their right to obtain a security freeze from containing advertising for paid services.
Relates to prohibiting consumer reporting agencies from requiring or requesting a copy of a consumer's social security card when furnishing consumer reports or investigative consumer reports to third parties.
Requires that consumer reporting agencies contact consumers when a request is made for their consumer reports; requires consumer reporting agencies to provide the consumer with information pertaining to the entity that requested the consumer report.
Requires that consumer reporting agencies contact consumers when a request is made for their consumer reports; requires consumer reporting agencies to provide the consumer with information pertaining to the entity that requested the consumer report.
Enacts the New York privacy act to require companies to disclose their methods of de-identifying personal information, to place special safeguards around data sharing and to allow consumers to obtain the names of all entities with whom their information is shared.
Enacts the NY privacy act to require companies to disclose their methods of de-identifying personal information, to place special safeguards around data sharing and to allow consumers to obtain the names of all entities with whom their information is shared.
Enacts the New York privacy act to require companies to disclose their methods of de-identifying personal information, to place special safeguards around data sharing and to allow consumers to obtain the names of all entities with whom their information is shared.
Prohibits any lessor or agent of a lessor from reporting to any consumer reporting agency, and prohibits consumer reporting agencies from maintaining such information.
Relates to creating a private right of action for the breach of a consumer's identifying information such as their social security number, driver's license number, bank account number, credit or debit card number, personal identification number, automated or electronic signature, unique biometric data, account passwords or other information that can be used to access an individual's financial accounts or to obtain goods and services.