senate Bill S1283

2011-2012 Legislative Session

Requires credit card solicitations and statements to display a "Credit Card Facts" display box

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Sponsored By

Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to consumer protection
Jan 06, 2011 referred to consumer protection

S1283 - Details

Current Committee:
Law Section:
General Business Law
Laws Affected:
Add ยง520-d, Gen Bus L
Versions Introduced in 2009-2010 Legislative Session:
S6253

S1283 - Summary

Requires credit card solicitations and statements to display a "Credit Card Facts" display box.

S1283 - Sponsor Memo

S1283 - Bill Text download pdf

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

                                  1283

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                             January 6, 2011
                               ___________

Introduced  by  Sen.  DUANE  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Consumer Protection

AN ACT to amend the general business law, in relation to requiring cred-
  it card solicitations and statements to display a "Credit Card  Facts"
  display box

  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
520-d to read as follows:
  S 520-D. CREDIT CARD FACTS DISPLAY. 1. IN ADDITION TO THE  DISCLOSURES
REQUIRED BY SECTION FIVE HUNDRED TWENTY OF THIS ARTICLE, ALL APPLICATION
FORMS  OR PRE-APPROVED WRITTEN SOLICITATIONS TO ENTER INTO A CREDIT CARD
AGREEMENT WHICH ARE MAILED TO AN INDIVIDUAL RESIDING IN THIS  STATE,  BY
OR  ON BEHALF OF AN ISSUER, WHETHER OR NOT THE ISSUER IS LOCATED IN THIS
STATE, OTHER THAN AN APPLICATION FORM  OR  SOLICITATION  INCLUDED  IN  A
MAGAZINE,  NEWSPAPER,  OR OTHER PUBLICATION DISTRIBUTED BY SOMEONE OTHER
THAN THE ISSUER, AND,  ANY  APPLICATION  FOR  A  CREDIT  CARD  WHICH  IS
DISTRIBUTED  OR MADE AVAILABLE IN THIS STATE TO A RESIDENT OF THIS STATE
IN AN OFFICE OR OTHER PLACE OF BUSINESS OWNED OR OPERATED BY THE ISSUER,
SHALL CONTAIN THE DISCLOSURES SET FORTH IN  SUBDIVISION  THREE  OF  THIS
SECTION  IN  THE  FORM  OF  A  CREDIT  CARD  FACTS DISPLAY AND SHALL USE
SUBSTANTIALLY THE SAME FORMAT AND TERMINOLOGY SHOWN IN SUBDIVISION THREE
OF THIS SECTION.
  2. ALL CREDIT CARD STATEMENTS WHICH ARE MAILED OR  PROVIDED  ELECTRON-
ICALLY  TO  AN  INDIVIDUAL RESIDING IN THIS STATE, BY OR ON BEHALF OF AN
ISSUER, WHETHER OR NOT THE  ISSUER  IS  LOCATED  IN  THIS  STATE,  SHALL
CONTAIN  THE  DISCLOSURES SET FORTH IN SUBDIVISION THREE OF THIS SECTION
IN THE FORM OF A CREDIT CARD FACTS DISPLAY AND SHALL  USE  SUBSTANTIALLY
THE  SAME  FORMAT  AND  TERMINOLOGY  SHOWN  IN SUBDIVISION THREE OF THIS
SECTION.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD01145-01-1

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