Assembly Bill A8620

2015-2016 Legislative Session

Requires lending institutions to supply customers with PINs to be used in conjunction with any chip-embedded credit card

download bill text pdf

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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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2015-A8620 (ACTIVE) - Details

Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Amd §2, add §9-x, Bank L
Versions Introduced in Other Legislative Sessions:
2017-2018: A4422
2019-2020: A4653
2021-2022: A3421
2023-2024: A3627

2015-A8620 (ACTIVE) - Summary

Requires lending institutions to supply customers with PINs to be used in conjunction with any chip-embedded credit card.

2015-A8620 (ACTIVE) - Bill Text download pdf 

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

                                  8620

                       2015-2016 Regular Sessions

                          I N  A S S E M B L Y

                            December 16, 2015
                               ___________

Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
  tee on Banks

AN ACT to amend the banking law, in relation to requiring lending insti-
  tutions to provide PINs simultaneously with the issuance of smart chip
  credit cards

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

  Section  1.  Section  2  of the banking law is amended by adding a new
subdivision 30 to read as follows:
  30. SMART CHIP. THE TERM "SMART CHIP"  MEANS  CREDIT  CARD  TECHNOLOGY
WHERE  CREDIT  CARDS  ARE EMBEDDED WITH MICROCHIPS TO HELP COMBAT CREDIT
CARD FRAUD AND INFORMATION THEFT.
  S 2. The banking law is amended by adding a new section 9-x to read as
follows:
  S 9-X. SMART CHIP TECHNOLOGY.  ANY  TIME  A  LENDING  INSTITUTION,  AS
DEFINED  IN  PARAGRAPH  (A) OF SUBDIVISION ONE OF SECTION NINE-T OF THIS
ARTICLE, ISSUES A SMART CHIP CREDIT CARD, SUCH LENDING INSTITUTION SHALL
ALSO PROVIDE THE CUSTOMER WITH A PERSONAL IDENTIFICATION  NUMBER  TO  BE
USED IN CONJUNCTION WITH THAT CARD.
  S  3.  This  act  shall take effect immediately and shall apply to all
credit cards issued or reissued on and after January 1, 2017.




 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD13255-01-5

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