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Assembly Bill A9588A

2019-2020 Legislative Session

Relates to establishing a set grace period for the use of credit card reward points

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Archive: Last Bill Status - In Assembly Committee

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Bill Amendments

2019-A9588 - Details

See Senate Version of this Bill:
S7104
Current Committee:
Assembly Consumer Affairs And Protection
Law Section:
General Business Law
Laws Affected:
Add §520-e, Gen Bus L
Versions Introduced in 2021-2022 Legislative Session:
A5698, S133

2019-A9588 - Summary

Relates to establishing a set grace period for the use of credit card reward points when an account is modified, cancelled, closed or terminated; ninety days shall be provided for the use of such points from the date notice of modification, cancellation, or termination of the card is provided.

2019-A9588 - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9588
 
                           I N  A S S E M B L Y
 
                             January 27, 2020
                                ___________
 
 Introduced  by  M.  of  A.  DenDEKKER  --  read once and referred to the
   Committee on Consumer Affairs and Protection
 
 AN ACT to amend the general business law, in relation to establishing  a
   set grace period for the use of credit card reward points
 
   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-e to read as follows:
   § 520-E. GRACE PERIOD FOR USE OF CREDIT CARD REWARD POINTS. 1. AS USED
 IN THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   (A) "CREDIT CARD POINTS" OR "POINTS" SHALL MEAN DENOMINATED UNITS THAT
 CAN BE ACCUMULATED IN AN  ACCOUNT  IN  CONNECTION  WITH  A  CREDIT  CARD
 REWARD, LOYALTY, OR OTHER INCENTIVE PROGRAM, OFTEN REFERRED TO AS POINTS
 OR  FOR  CERTAIN  TRAVEL-RELATED REWARDS AS MILES, WHICH ARE REDEEMABLE,
 FUNGIBLE, OR OTHERWISE EXCHANGEABLE, IN WHOLE OR IN PART, FOR REWARDS;
   (B) "REWARDS" SHALL MEAN GOODS, SERVICES, CASH, MERCHANT-SPECIFIC GIFT
 CARDS, TRAVEL BENEFITS, OR ONE OR MORE OTHER THINGS OF VALUE; AND
   (C) "REWARDS PROGRAM" SHALL MEAN ANY AGREEMENT BETWEEN A HOLDER AND AN
 ISSUER OR BETWEEN A HOLDER AND A THIRD-PARTY REGARDING POINTS RELATED TO
 AN ACCOUNT.
   2. IF  ANY  CREDIT  CARD  ACCOUNT  OR  REWARDS  PROGRAM  IS  MODIFIED,
 CANCELLED, CLOSED OR TERMINATED, THE HOLDER MUST RECEIVE NOTICE FROM THE
 ISSUER  OF  SUCH  CANCELLATION,  CLOSURE, TERMINATION OR MODIFICATION AS
 SOON AS POSSIBLE, AND IN ANY EVENT WITHIN FIFTEEN DAYS OF SUCH CANCELLA-
 TION, CLOSURE, TERMINATION OR MODIFICATION. BEGINNING WITH THE  DATE  ON
 WHICH  NOTICE  IS  SENT,  THE  HOLDER  SHALL HAVE NINETY DAYS TO REDEEM,
 EXCHANGE, OR OTHERWISE USE ANY CREDIT CARD POINTS THAT THE HOLDER  ACCU-
 MULATED  AT  THE  TIME  OF  SUCH MODIFICATION, CANCELLATION, CLOSURE, OR
 TERMINATION AS PERMITTED UNDER THE TERMS OF THE AGREEMENT OR  AGREEMENTS
 BETWEEN  THE  HOLDER  AND THE ISSUER, AND THE HOLDER AND ANY THIRD-PARTY
 WHICH IS SERVICING THE APPLICABLE CREDIT CARD ACCOUNT OR RELATED REWARDS
 PROGRAM, SUBJECT TO THE AVAILABILITY OF REWARDS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14416-03-9

2019-A9588A (ACTIVE) - Details

See Senate Version of this Bill:
S7104
Current Committee:
Assembly Consumer Affairs And Protection
Law Section:
General Business Law
Laws Affected:
Add §520-e, Gen Bus L
Versions Introduced in 2021-2022 Legislative Session:
A5698, S133

2019-A9588A (ACTIVE) - Summary

Relates to establishing a set grace period for the use of credit card reward points when an account is modified, cancelled, closed or terminated; ninety days shall be provided for the use of such points from the date notice of modification, cancellation, or termination of the card is provided.

2019-A9588A (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  9588--A
 
                           I N  A S S E M B L Y
 
                             January 27, 2020
                                ___________
 
 Introduced  by  M.  of  A.  DenDEKKER  --  read once and referred to the
   Committee on Consumer Affairs and Protection -- committee  discharged,
   bill  amended,  ordered  reprinted  as amended and recommitted to said
   committee
 
 AN ACT to amend the general business law, in relation to establishing  a
   set grace period for the use of credit card reward points

   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-e to read as follows:
   § 520-E. GRACE PERIOD FOR USE OF CREDIT CARD REWARD POINTS. 1. AS USED
 IN THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
   (A) "CREDIT CARD POINTS" OR "POINTS" SHALL MEAN DENOMINATED UNITS THAT
 CAN BE ACCUMULATED IN AN  ACCOUNT  IN  CONNECTION  WITH  A  CREDIT  CARD
 REWARD, LOYALTY, OR OTHER INCENTIVE PROGRAM, OFTEN REFERRED TO AS POINTS
 OR  FOR  CERTAIN  TRAVEL-RELATED REWARDS AS MILES, WHICH ARE REDEEMABLE,
 FUNGIBLE, OR OTHERWISE EXCHANGEABLE, IN WHOLE OR IN PART, FOR REWARDS;
   (B) "REWARDS" SHALL MEAN GOODS, SERVICES, CASH, MERCHANT-SPECIFIC GIFT
 CARDS, TRAVEL BENEFITS, OR ONE OR MORE OTHER THINGS OF VALUE; AND
   (C) "REWARDS PROGRAM" SHALL MEAN ANY AGREEMENT BETWEEN A HOLDER AND AN
 ISSUER REGARDING POINTS RELATED TO AN ACCOUNT.
   2. IF  ANY  CREDIT  CARD  ACCOUNT  OR  REWARDS  PROGRAM  IS  MODIFIED,
 CANCELLED, CLOSED OR TERMINATED, THE HOLDER MUST RECEIVE NOTICE FROM THE
 ISSUER  OF  SUCH  CANCELLATION,  CLOSURE, TERMINATION OR MODIFICATION AS
 SOON AS POSSIBLE, AND IN ANY EVENT WITHIN FIFTEEN DAYS OF SUCH CANCELLA-
 TION, CLOSURE, TERMINATION OR MODIFICATION. BEGINNING WITH THE  DATE  ON
 WHICH  NOTICE  IS  SENT,  THE  HOLDER  SHALL HAVE NINETY DAYS TO REDEEM,
 EXCHANGE, OR OTHERWISE USE ANY CREDIT CARD POINTS THAT THE HOLDER  ACCU-
 MULATED  AT  THE  TIME  OF  SUCH MODIFICATION, CANCELLATION, CLOSURE, OR
 TERMINATION AS PERMITTED UNDER THE TERMS OF THE AGREEMENT OR  AGREEMENTS
 BETWEEN  THE  HOLDER  AND  THE  ISSUER WHICH IS SERVICING THE APPLICABLE
 CREDIT CARD ACCOUNT OR RELATED REWARDS PROGRAM, SUBJECT  TO  THE  AVAIL-
 ABILITY OF REWARDS.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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