A Local Law to amend the administrative code of the city of New York, in relation to the use of certain credit information in the rental or leasing of affordable units by a developer

Summary

This bill would prohibit a developer from using or considering any credit score, consumer debt judgment, collection account, medical debt or student loan debt in the rental or lease of an affordable housing unit that receives city financial assistance. In addition, this bill would prohibit a developer, in the rental or lease of an affordable housing unit that receives city financial assistance, from (i) using the consumer credit history of anyone other than the designated representative of a household or (ii) failing to disclose the process and criteria by which the consumer credit history of the designated representative will be evaluated.

Official summary of legislation · NYC Council