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Bill Helping to Prevent Fraudulent Wire Transfers Passes NYS Assembly Assemblywoman Catherine Nolan : A.8928-B passed the Assembly NYS Assemblywoman Cathy Nolan. Chair, Education Committee 37th Assembly District Queens County           Long Island City, NY June 25, 2012 - NYS Assembly Bill A.8928 would require a financial institution to alert their customers to the dangers of consumer fraud. It would help people think twice and help them make better decisions before things go terribly wrong. "Fraud hurts everyone regardless of age.  We all should be interested in protecting consumers and I thank Speaker Silver and my Assembly colleagues for bringing this bill up for a vote" said Assemblywoman Nolan.  Assemblywoman Nolan's office recently tried to assist a constituent’s mother who was victimized out of thousands of dollars.  People receive calls or details informing them that they won the lottery, that they have been offered a great deal, or that they can apply for a credit card if they simply transfer funds to an unspecified address. This bill is a common sense solution to make sure all companies in the business of wiring funds properly warn customers of the dangers of fraud. Queens District Attorney Richard A. Brown said, "I applaud Assemblywoman Cathy Nolan and her colleagues in the New York State Assembly for passing this bill which will require businesses that transmit money electronically to warn consumers about possible fraudulent schemes and urge the State Senate to approve it as well.  If enacted into law, this legislation would prevent much heartache and keep consumers, especially elderly individuals, from making irreversible and life-changing mistakes." Senator Gianaris is carrying the bill in the State Senate.  The bill is currently in the Rules Committee.   NYS Assemblywoman Cathy Nolan. Chair, Education Committee 37th Assembly District Queens County

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