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IntroducedFeb 06, 2025
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Passed SenateMay 20, 2025
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Passed HouseJun 03, 2025
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Signed into Law
AN ACT CONCERNING CONSUMER CREDIT AND COMMERCIAL FINANCING. To: (1) Require cancellations of certain surety bonds to be submitted electronically; (2) modify procedures regarding changes to the legal names of certain licensees; (3) redefine "sales finance company"; (4) establish procedures for registering as an exempt mortgage servicer registrant; (5) establish requirements regarding private student education loan cosigner releases; (6) establish enforcement authority regarding registrants; (7) prohibit receiving fees in connection with small loans without a license; (8) redefine "mortgage servicer" and "servicing"; (9) define "private education lender" and "private education loan creditor"; (10) establish requirements regarding timelines and fees for certain registrants that are exempt from licensing; (11) modify various statutes relating to commercial financing; (12) modify registration and enforcement procedures regarding private education lenders and private education loan creditors; (13) require certain disclosures in connection with shared appreciation agreements; (14) make technical changes to various statutes regarding consumer credit; and (15) redefine "system".
Last Action See all actions
House • Jun 03, 2025: In Concurrence
Latest Bill Text See all bill texts
Summary/Bill Text
Comments on SB 1257
Tweets
Whip Lists
Sponsors
- Banking Committeeprimary
Votes
YES: 12
- Doucette J
- Miller P
- Delnicki T
- Berthel E
- Santos F
- Honig P
- Baker A
- Foster J
- Hochadel J
- Gee F
- Hoxha J
- Gaiewski D
NO: 0
ABSENT: 1
- Aniskovich C
YES: 40
- Winfield G
- Osborne M
- Stafstrom S
- Pavalock-D'Amato C
- Flexer M
- Perillo J
- Gadkar-Wilcox S
- Quinn M
- Fazzino J
- Rahman M
- Kissel J
- Roberts K
- Fishbein C
- Rutigliano D
- Blumenthal M
- Simms T
- Veach D
- Cabrera J
- Walker T
- Callahan P
- Wilson D
- Cicarella P
- DeCaprio M
- Delany H
- Dillon P
- Doucette J
- Dubitsky D
- Elliott J
- Gaston H
- Gilchrest J
- Godfrey B
- Howard G
- Jacobson J
- Johnson D
- Khan M
- LaMark Muir R
- Lesser M
- Maher C
- Miller P
- O'Dea T
NO: 0
ABSENT: 1
- Brown M
YES: 35
- CATHERINE A. OSTEN
- DOUGLAS MCCRORY
- MARTHA MARX
- SAUD ANWAR
- JASON PERILLO
- MD RAHMAN
- SUJATA GADKAR-WILCOX
- DEREK SLAP
- HERRON GASTON
- RICK LOPES
- JULIE KUSHNER
- JOHN A. KISSEL
- BOB DUFF
- PAUL HONIG
- CECI MAHER
- MATTHEW L. LESSER
- PATRICIA BILLIE MILLER
- GARY WINFIELD
- TONY HWANG
- MARTIN M. LOONEY
- MAE FLEXER
- CHRISTINE COHEN
- STEPHEN HARDING
- JAN HOCHADEL
- HENRI MARTIN
- JAMES MARONEY
- ERIC C. BERTHEL
- JOAN V. HARTLEY
- NORMAN NEEDLEMAN
- ROB SAMPSON
- PAUL CICARELLA
- JORGE CABRERA
- JEFF GORDON
- HEATHER S. SOMERS
- RYAN FAZIO
NO: 0
ABSENT: 1
YES: 148
- ALLIE-BRENNAN
- HUGHES
- WELANDER
- PISCOPO
- ARZENO
- JACOBSON
- WILSON
- PIZZUTO
- BAKER
- JOHNSON, D.
- WINTER
- POLLETTA
- BARRY
- JOHNSON, S.
- WOOD
- REDDINGTON-HUGHES
- BELTON
- KAVROS DEGRAW
- ROMANO
- BERGER-GIRVALO
- KEITT
- RUTIGLIANO
- BIGGINS
- KHAN
- ACKERT
- SCOTT
- BLUMENTHAL
- LAMARK MUIR
- ANDERSON
- BOYD
- LEEPER
- ANISKOVICH
- VAIL
- BROWN, K.
- LEMAR
- BOLINSKY
- BROWN, M.
- LUXENBERG
- BRONKO
- WEIR
- BUMGARDNER
- MARTINEZ, R.
- BUCHSBAUM
- YACCARINO
- CHAFEE
- MCCARTHY VAHEY
- BUCKBEE
- ZAWISTOWSKI
- COLLINS MAIN
- MCGEE
- CALLAHAN
- ZULLO
- COMEY
- MENAPACE
- CANDELORA, V.
- ZUPKUS
- CONCEPCION
- MESKERS
- CANINO
- CONSTANTINE
- MORRIN BELLO
- CARNEY
- DATHAN
- NAPOLI
- CARPINO
- DEFRONZO
- OSBORNE
- CASE
- RITTER
- DELANY
- PARIS
- COURPAS
- DEMICCO
- PARKER
- DAUPHINAIS
- DIGIOVANCARLO
- POULOS
- DECAPRIO
- CANDELARIA, J.
- DILLON
- QUINN
- DELNICKI
- GODFREY
- DOUCETTE
- RADER
- DUBITSKY
- HALL, J.
- EXUM
- ROBERTS
- FISHBEIN
- REYES
- FARRAR
- ROCHELLE
- FONCELLO
- ROSARIO
- FAZZINO
- ROJAS
- HAINES
- RYAN
- FELIPE
- SANCHEZ, E.
- HALL, C.
- SANTIAGO
- FORTIER
- SANCHEZ, J.
- HOWARD
- FOSTER
- SANTANELLA
- HOXHA
- BUTLER
- GAIEWSKI
- SANTOS
- JENSEN
- GONZALEZ
- GARIBAY
- SHAKE
- KENNEDY
- MUSHINSKY
- GAUTHIER
- SHANNON
- KLARIDES-DITRIA
- PAOLILLO
- GEE
- SIMMS
- GENGA
- SMITH
- MARRA
- ELLIOTT
- GILCHREST
- STAFSTROM
- MASTROFRANCESCO
- GIBSON
- GUCKER
- STEINBERG
- MCGORTY, B.
- GRESKO
- HADDAD
- SWEET
- NUCCIO
- LINEHAN
- HEFFERNAN
- TURCO
- O'DEA
- NOLAN
- HORN
- WALKER
- PAVALOCK-D'AMATO
- SANCHEZ, R.
NO: 0
Actions
- Jun 03, 2025 | House
- House Adopted Senate Amendment Schedule A
- House Passed as Amended by Senate Amendment Schedule A
- In Concurrence
- May 22, 2025 | House
- Favorable Report, Tabled for the Calendar, House
- House Calendar Number 623
- May 20, 2025 | Senate
- Senate Adopted Senate Amendment Schedule A 8655
- Senate Passed as Amended by Senate Amendment Schedule A
- May 13, 2025 | Senate
- Filed with Legislative Commissioners' Office (LCO)
- Reported Out of Legislative Commissioners' Office (LCO)
- No New File by Committee on Judiciary
- Favorable Report, Tabled for the Calendar, Senate
- May 12, 2025 | Senate
- Joint Favorable (JUD)
- May 08, 2025 | Senate
- Referred by Senate to Committee on Judiciary
- Immediate Transmittal
- Mar 24, 2025 | Senate
- Reported Out of Legislative Commissioners' Office (LCO)
- Favorable Report, Tabled for the Calendar, Senate
- Senate Calendar Number 146
- File Number 181 (LCO)
- Mar 17, 2025 | Senate
- Referred to Office of Legislative Research and Office of Fiscal Analysis 03/24/25 12:00 PM (LCO)
- Mar 06, 2025 | Senate
- Joint Favorable (BA)
- Filed with Legislative Commissioners' Office (LCO)
- Feb 07, 2025 | Senate
- Public Hearing 02/13
- Feb 06, 2025 | Senate
- Referred to Joint Committee on Banking
Documents
- Bill Analysis for SB-1257, as amended by Senate "A"
- Bill Analysis For File Copy 181
- Fiscal Note For File Copy 181
- Fiscal Note for SB-1257, As Amended by Senate "A" (LCO 8655)
- Fiscal Note for Amendment LCO 8308 (See Fiscal Note Details)
- Fiscal Note for Amendment LCO 8655 (No Fiscal Impact)
- Committee Report BA Joint Fav. Rpt
- Committee Report JUD Joint Fav. Rpt
- Public Hearing Testimony