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Senate Bill S5061

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 - In Senate Committee Consumer Protection Committee

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2011-S5061 (ACTIVE) - Details

Current Committee:
Senate Consumer Protection
Law Section:
General Business Law
Laws Affected:
Add ยง518-b, Gen Bus L
Versions Introduced in Other Legislative Sessions:
2013-2014: S760, S6280
2015-2016: S4778
2017-2018: S4056
2019-2020: S1404

2011-S5061 (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-S5061 (ACTIVE) - Sponsor Memo

2011-S5061 (ACTIVE) - Bill Text download pdf 

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

                                  5061

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                               May 3, 2011
                               ___________

Introduced  by  Sens.  FUSCHILLO,  ALESI,  KLEIN,  MAZIARZ, RANZENHOFER,
  STAVISKY, VALESKY -- 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 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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