2003 FINANCIAL SERVICES LEGISLATIVE PROGRAM

Staff Contact: Ken Pokalsky

Following is The Business Council's 2003 Legislative Program. It identifies priority issues to be addressed by the Committees and Councils during 2003.

• Support the banking department in proposing legislation and adopting regulations in relation to suspicious banking activities that may be related to terrorist activities.



• Support the reform of vehicle and traffic law by transferring liability for auto accidents from the leasing companies to the lessees. Under existing law, leasing companies, which effectively provide an alternate form of auto financing, can be sued for damages caused by vehicles over which they have no control simply because they are the registered owner of the vehicle.
  
  
• Support industry led initiative to protect consumers privacy over the internet.
  
  
• Support enforcement of existing laws against fraudulent and deceptive marketers and promote consumer empowerment technologies.
  
  
• Oppose legislation further restricting the telemarketing of financial services and products by regulated financial entities including but not limited to affiliates and subsidiaries.
  
  
• Support the elimination of lender liability for clean-up costs associated with environmentally hazardous conditions beyond their control.
  
  
• Oppose legislative approval of changes to the Uniform Commercial Code "Revised Articles 1 and 2" as recommended by the National Conference of Commissioners on Uniform State Laws.
  
  
• Oppose legislation that expands appraisal requirements.

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