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Assembly Bill A5175

2011-2012 Legislative Session

Prohibits issuers of credit cards and debit cards from knowingly accepting or soliciting financial information of a cardholder from a third-party

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Archive: Last Bill Status - Stricken

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2011-A5175 (ACTIVE) - Details

See Senate Version of this Bill:
S5061
Law Section:
General Business Law
Laws Affected:
Add ยง518-b, Gen Bus L
Versions Introduced in Other Legislative Sessions:
2009-2010: A8485
2013-2014: A3991, S760, S6280
2015-2016: S4778
2017-2018: S4056
2019-2020: S1404

2011-A5175 (ACTIVE) - Summary

Establishes issuers of credit cards and debit cards are prohibited from knowingly accepting or soliciting personal financial information of a cardholder from a third-party; establishes a civil penalty not to exceed two thousand dollars for each violation of this section.

2011-A5175 (ACTIVE) - Bill Text download pdf 

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

                                  5175

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                            February 14, 2011
                               ___________

Introduced  by  M.  of  A.  P. RIVERA  --  read once and referred to the
  Committee on Consumer Affairs and Protection

AN ACT to amend the general business law,  in  relation  to  prohibiting
  issuers  from accepting personal financial information of holders from
  a third-party

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

  Section 1. The general business law is amended by adding a new section
518-b to read as follows:
  S  518-B. PROHIBITED CREDIT CARD USER INFORMATION REQUESTS. 1. ISSUERS
OF CREDIT CARDS AND DEBIT CARDS ARE PROHIBITED FROM KNOWINGLY  ACCEPTING
OR  SOLICITING  THE  PERSONAL  FINANCIAL  INFORMATION OF A HOLDER FROM A
THIRD-PARTY. PROVIDED, HOWEVER, THAT NO PROVISION OF THIS SECTION  SHALL
BE  DEEMED  TO  PROHIBIT  AN  ISSUER OF A CREDIT CARD OR DEBIT CARD FROM
ACCEPTING OR SOLICITING FROM  A  BANKING  ORGANIZATION,  AS  DEFINED  IN
SECTION TWO OF THE BANKING LAW, THE PERSONAL INFORMATION OF A HOLDER FOR
THE PURPOSE OF VERIFYING THE IDENTITY OF SUCH HOLDER AND PREVENT IMPROP-
ER OR UNAUTHORIZED USE.
  2. A VIOLATION OF THE PROVISIONS OF THIS SECTION BY AN ISSUER SHALL BE
PUNISHABLE  BY  A  CIVIL  PENALTY NOT TO EXCEED TWO THOUSAND DOLLARS FOR
EACH SUCH VIOLATION.
  S 2. This act shall  take  effect  on  the  first  of  September  next
succeeding the date on which it shall have become a law.



 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01124-02-1

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