Prohibiting discrimination in the issuance of credit and requiring creditors to disclose to potential borrowers how their rate is calculated.

A Local Law to amend the administrative code of the city of New York, in relation to prohibiting discrimination in the issuance of credit and requiring creditors to disclose to potential borrowers how their rate is calculated

This bill would expand on federal and state legislation by amending the city’s human rights law to prohibit discrimination based on an individual’s membership in a protected class in the issuance of credit, would require creditors to disclose to potential borrowers how their rate is calculated, would require the NYC Commission on Human Rights to conduct outreach, and would require the NYC Commission on Human Rights to perform a credit discrimination investigation for a period of one year.