Assembly Bill A970

2013-2014 Legislative Session

Limits the liability of a debit cardholder for unauthorized use of a debit card

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2013-A970 (ACTIVE) - Details

See Senate Version of this Bill:
S7421
Current Committee:
Assembly Banks
Law Section:
General Business Law
Laws Affected:
Amd §512, Gen Bus L
Versions Introduced in Other Legislative Sessions:
2011-2012: A6969
2015-2016: S3796
2017-2018: S4678
2019-2020: S2466
2021-2022: S5185
2023-2024: S5009

2013-A970 (ACTIVE) - Summary

Limits the liability of a debit card holder for unauthorized use of a debit card.

2013-A970 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                   970

                       2013-2014 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 9, 2013
                               ___________

Introduced  by M. of A. KELLNER, ROBERTS, MILLMAN, WEPRIN, MAISEL, COOK,
  HOOPER -- Multi-Sponsored by -- M. of  A.  CROUCH,  GOODELL,  GUNTHER,
  KATZ,  MARKEY,  McLAUGHLIN,  SALADINO -- read once and referred to the
  Committee on Banks

AN ACT to amend the general business law, in relation  to  limiting  the
  liability of a debit cardholder for unauthorized use of a debit card

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 512 of the general  business  law,  as  amended  by
chapter 556 of the laws of 1987, is amended to read as follows:
  S  512.  Limitation of liability for unauthorized use of a credit card
or a debit card. 1. A provision which imposes liability  upon  a  holder
for  a  cash advance or loan or for the purchase or lease of property or
services obtained by the unauthorized use of a credit card  or  a  debit
card  shall  not  be enforceable to the extent that it imposes a greater
liability upon the holder than is imposed upon the holder  of  a  credit
card  under  the  provisions  of  the act of congress entitled "Truth in
Lending Act" and the regulations thereunder, as such act and regulations
may from time to time be amended.
  2. (A) A CARDHOLDER SHALL BE LIABLE FOR  THE  UNAUTHORIZED  USE  OF  A
DEBIT CARD ONLY IF:
  (1)  THE  CARD  IS A DEBIT CARD WHICH THE CARDHOLDER HAS REQUESTED AND
RECEIVED OR HAS SIGNED OR HAS USED, OR AUTHORIZED ANOTHER  TO  USE,  FOR
THE PURPOSE OF OBTAINING MONEY, PROPERTY, LABOR, OR SERVICES;
  (2) THE LIABILITY IS NOT IN EXCESS OF FIFTY DOLLARS;
  (3)  THE  CARD  ISSUER  GIVES ADEQUATE NOTICE TO THE CARDHOLDER OF THE
POTENTIAL LIABILITY;
  (4) THE CARD ISSUER HAS PROVIDED THE CARDHOLDER WITH A DESCRIPTION  OF
A MEANS BY WHICH THE CARD ISSUER MAY BE NOTIFIED OF LOSS OR THEFT OF THE
CARD,  WHICH  DESCRIPTION MAY BE PROVIDED ON THE FACE OR REVERSE SIDE OF

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

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