Senate Bill S4413A

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  4413--A
     Cal. No. 542
 
                        2025-2026 Regular Sessions
 
                             I N  S E N A T E
 
                             February 4, 2025
                                ___________
 
 Introduced  by  Sen.  MAY  --  read  twice and ordered printed, and when
   printed to be committed to the Committee  on  Consumer  Protection  --
   recommitted to the Committee on Consumer Protection in accordance with
   Senate  Rule  6,  sec.  8  --  reported favorably from said committee,
   ordered to first report, amended on first report, ordered to a  second
   report  and  ordered  reprinted,  retaining  its place in the order of
   second report
 
 AN ACT to amend the general business law, in relation to deletion  of  a
   consumer's  financial  information  after cancellation of an automatic
   renewal or continuous service
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  527  of  the  general business law is amended by
 adding a new subdivision 5 to read as follows:
   5. "FINANCIAL INFORMATION" MEANS ANY INFORMATION RELATING TO A CONSUM-
 ER'S CREDIT CARD, DEBIT CARD, OR ACCOUNT WITH A THIRD PARTY  HELD  BY  A
 BUSINESS FOR THE PURPOSE OF CHARGING SUCH CONSUMER.
   §  2. Section 527-a of the general business law is amended by adding a
 new subdivision 2-a to read as follows:
   2-A. A. UPON RECEIVING A REQUEST FROM A CONSUMER TO CANCEL AN AUTOMAT-
 IC RENEWAL OR CONTINUOUS SERVICE, A BUSINESS SHALL DELETE ALL RECORDS OF
 SUCH CONSUMER'S FINANCIAL INFORMATION HELD BY SUCH BUSINESS UNLESS  SUCH
 BUSINESS HAS OBTAINED SUCH CONSUMER'S AFFIRMATIVE CONSENT TO RETAIN SUCH
 FINANCIAL  INFORMATION  FOR  FUTURE PURCHASES. IF SUCH BUSINESS DOES NOT
 OBTAIN SUCH AFFIRMATIVE CONSENT, SUCH BUSINESS SHALL:
   (I) DELETE ALL RECORDS OF SUCH CONSUMER'S FINANCIAL INFORMATION WITHIN
 FOURTEEN DAYS OF RECEIPT  OF  SUCH  REQUEST  TO  CANCEL  SUCH  AUTOMATIC
 RENEWAL OR CONTINUOUS SERVICE; AND
   (II)  NOTIFY SUCH CONSUMER BY MAIL OR ELECTRONIC MAIL OF THE DATE SUCH
 RECORDS WERE DELETED PURSUANT TO PARAGRAPH (I) OF THIS SUBDIVISION,  AND
 OF EACH OF SUCH CONSUMER'S CREDIT CARDS, DEBIT CARDS, OR ACCOUNTS WITH A
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

                                                            LBD08677-02-6
 S. 4413--A                          2
 
 THIRD  PARTY  FOR  WHICH SUCH RECORDS WERE DELETED, WITHIN SEVEN DAYS OF
 SUCH DELETION.
   B. THE PROVISIONS OF THIS SUBDIVISION SHALL NOT APPLY WHERE A BUSINESS
 IS  OTHERWISE  REQUIRED  TO  RETAIN  A  CONSUMER'S FINANCIAL INFORMATION
 PURSUANT TO STATE OR FEDERAL LAW, RULE OR REGULATION.
   § 3. This act shall take effect on the thirtieth day  after  it  shall
 have become a law. Effective immediately, the addition, amendment and/or
 repeal  of  any  rule  or regulation necessary for the implementation of
 this act on its effective date are authorized to be made  and  completed
 on or before such effective date.