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Bill

A 3055

Prohibits consumer reporting agencies and lenders from using an individual's late payment of cashless tolls to determine their credit worthiness

2025 Regular Session Introduced by Robert Carroll and 1 co-sponsor

Bill A 3055 protects consumers by prohibiting lenders from using late cashless toll payments to affect credit scores, easing financial stress for affected individuals.

REFERRED TO CONSUMER AFFAIRS AND PROTECTION
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Bill Summary · A 3055

Summary of Bill A 3055

Bill Number: A 3055
Title: Prohibits consumer reporting agencies and lenders from using an individual's late payment of cashless tolls to determine their credit worthiness
Status: Referred to Consumer Affairs and Protection
Introduced: January 23, 2025
Classification: Bill

Purpose and Intent

Bill A 3055 aims to protect consumers from negative impacts on their credit scores due to late payments of cashless tolls. The bill seeks to ensure that such payments are not considered by consumer reporting agencies and lenders when assessing an individual's creditworthiness. This legislation is designed to alleviate financial stress on individuals who may experience difficulties in making timely toll payments, particularly in regions where cashless tolling is prevalent.

Key Provisions

  • Prohibition on Reporting: The bill explicitly prohibits consumer reporting agencies and lenders from using late payments related to cashless tolls as a factor in determining an individual's credit score.
  • Consumer Protection: By removing cashless toll payment history from credit assessments, the bill aims to prevent unfair penalization of consumers who may face financial hardships or unexpected circumstances affecting their ability to pay tolls on time.

Affected Parties

  • Consumers: Individuals who utilize cashless toll systems will benefit from this bill, as it protects them from potential negative impacts on their credit scores due to late toll payments.
  • Consumer Reporting Agencies: These agencies will need to adjust their reporting practices to comply with the new regulations set forth by the bill.
  • Lenders: Financial institutions will also be required to modify their credit assessment criteria to exclude cashless toll payment histories.

Procedural Aspects

  • Legislative Action: The bill was introduced on January 23, 2025, and has been referred to the Committee on Consumer Affairs and Protection for further consideration.
  • Related Legislation: Bill A 3055 is related to several prior-session bills, including:
    • S 7854
    • S 2778
    • A 9898
    • A 1480
    • S 2198 (companion bill)

Conclusion

Bill A 3055 represents a significant step towards consumer protection in the realm of credit reporting. By prohibiting the use of late cashless toll payments in credit assessments, the bill aims to foster a fairer financial environment for consumers, particularly those who may encounter challenges in meeting toll payment deadlines. The bill is currently under review by the Committee on Consumer Affairs and Protection, and its progress will be closely monitored by stakeholders in the consumer finance sector.

Compiled from official sources — confirm details with the bill’s official record.

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