New York S02198 prohibits consumer reporting agencies and lenders from using late payments of cashless tolls to determine credit worthiness.
New York S02198 amends the general business law and banking law to prohibit consumer reporting agencies and lenders from using an individual's late payment of cashless tolls to determine their credit worthiness. The bill also mandates that credit scoring formulas filed with the department do not include variables accounting for late cashless toll payments. This change aims to protect individuals from potential credit score impacts due to toll payment issues.
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