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News Now

CU System
New York governor signs subpoena bill into law
ALBANY, N.Y. (8/8/11)--New York Gov. Andrew Cuomo has signed into law legislation that will establish stricter guidelines for creditors serving information subpoenas, a priority issue for the Credit Union Association of New York. The measure, sponsored by Assemblyman Joseph Lentol (D-Metropolitan) and Sen. Stephen Saland (R-Catskill/Hudson), was a priority issue because a number of credit unions have been inundated with information subpoena requests by law firms and debt collectors seeking to enforce money judgments. The new law will deter frivolous subpoenas by imposing record-keeping requirements on debt collectors giving both private parties and the state's Attorney General the power to seek fines against the worst offenders, said the credit union association. "On behalf of the association and our member credit unions, I applaud Gov. Cuomo for signing this important legislation," said William J. Mellin, association president/CEO. "Our thanks also go out to Senator Saland and Assemblyman Lentol for championing this bill in the legislature."


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