senate Bill S7104A

2019-2020 Legislative Session

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

download bill text pdf

Sponsored By

Current Bill Status - Passed Senate


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

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Actions

view actions (8)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jul 22, 2020 referred to consumer affairs and protection
delivered to assembly
passed senate
Jul 21, 2020 ordered to third reading cal.809
Jul 20, 2020 reported and committed to rules
Jul 08, 2020 print number 7104a
Jul 08, 2020 amend and recommit to consumer protection
Jan 08, 2020 referred to consumer protection

Votes

view votes

Jul 21, 2020 - Rules committee Vote

S7104A
18
0
committee
18
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Rules committee vote details

Jul 20, 2020 - Consumer Protection committee Vote

S7104A
6
0
committee
6
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Consumer Protection committee vote details

Consumer Protection Committee Vote: Jul 20, 2020

Co-Sponsors

S7104 - Details

See Assembly Version of this Bill:
A9588
Law Section:
General Business Law
Laws Affected:
Add §520-e, Gen Bus L

S7104 - 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.

S7104 - Sponsor Memo

S7104 - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7104
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 8, 2020
                                ___________
 
 Introduced  by  Sen.  MAYER  -- 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 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

Co-Sponsors

view additional co-sponsors

S7104A (ACTIVE) - Details

See Assembly Version of this Bill:
A9588
Law Section:
General Business Law
Laws Affected:
Add §520-e, Gen Bus L

S7104A (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.

S7104A (ACTIVE) - Sponsor Memo

S7104A (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  7104--A
 
                             I N  S E N A T E
 
                                (PREFILED)
 
                              January 8, 2020
                                ___________
 
 Introduced  by  Sens.  MAYER,  JACKSON,  KRUEGER, MYRIE, SALAZAR -- read
   twice and ordered printed, and when printed to  be  committed  to  the
   Committee   on  Consumer  Protection  --  committee  discharged,  bill
   amended, ordered reprinted as amended and recommitted to said  commit-
   tee

 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
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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