Requires banks to provide written notification that accepting an alternative loan payment schedule may have a negative impact on credit scores
Summary
Requires banks to provide written notification that accepting an alternative loan payment schedule may have a negative impact on credit scores; makes related provisions.
Bill status
signed
all 5 stages cleared
Introduction
Jan 2021
Committee Review
Jun 2021
Senate Passage
Jun 2021
Assembly Passage
Jun 2021
Signed into Law
Nov 2021
Introduced Jan 13, 2021
Signed Nov 3, 2021
Floor votes · Senate Mar 3, 2021 · Assembly Jun 8, 2021
How they voted
47–15
Passed
Total votes 62
Mar 3, 2021
D
Democratic42
100% Yea
R
Republican20
75% Nay
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
20
Key actions
5
Committee
3
Amendments
1
Nov 3, 2021
Signed into law
SIGNED CHAP.568
upper
Jun 8, 2021
Lower · Passed
PASSED ASSEMBLY
lower
Jun 1, 2021
Committee
REFERRED TO BANKS
lower
Jun 1, 2021
Upper · Passed
REPASSED SENATE
upper
May 25, 2021
Upper · Passed
AMENDED ON THIRD READING (T) 1566A
upper
Mar 3, 2021
Committee
REFERRED TO BANKS
lower
Mar 3, 2021
Upper · Passed
PASSED SENATE
upper
Jan 13, 2021
Committee
REFERRED TO BANKS
upper
1 primary · 1 co-sponsor
Sponsors
Ask Maddy
·
AI policy assistant
Ask Maddy about S 1566
Scope: NY
Hi! I can help you understand S 1566. What would you like to know?
Try one of these
i
Maddy answers using official bill text and legislative records. Always verify before sharing.
Sources cited inline