Bill Text: NY A05175 | 2011-2012 | General Assembly | Introduced

New York Assembly Bill 5175 (Prior Session Legislation)

Introduced

Bill Title: 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.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2012-09-04 - enacting clause stricken [A05175 Detail]

Download: New_York-2011-A05175-Introduced.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         5175
                              2011-2012 Regular Sessions
                                 I N  A S S E M B L Y
                                   February 14, 2011
                                      ___________
       Introduced  by  M.  of  A.  P. RIVERA  --  read once and referred to the
         Committee on Consumer Affairs and 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:
    1    Section 1. The general business law is amended by adding a new section
    2  518-b to read as follows:
    3    S  518-B. PROHIBITED CREDIT CARD USER INFORMATION REQUESTS. 1. ISSUERS
    4  OF CREDIT CARDS AND DEBIT CARDS ARE PROHIBITED FROM KNOWINGLY  ACCEPTING
    5  OR  SOLICITING  THE  PERSONAL  FINANCIAL  INFORMATION OF A HOLDER FROM A
    6  THIRD-PARTY. PROVIDED, HOWEVER, THAT NO PROVISION OF THIS SECTION  SHALL
    7  BE  DEEMED  TO  PROHIBIT  AN  ISSUER OF A CREDIT CARD OR DEBIT CARD FROM
    8  ACCEPTING OR SOLICITING FROM  A  BANKING  ORGANIZATION,  AS  DEFINED  IN
    9  SECTION TWO OF THE BANKING LAW, THE PERSONAL INFORMATION OF A HOLDER FOR
   10  THE PURPOSE OF VERIFYING THE IDENTITY OF SUCH HOLDER AND PREVENT IMPROP-
   11  ER OR UNAUTHORIZED USE.
   12    2. A VIOLATION OF THE PROVISIONS OF THIS SECTION BY AN ISSUER SHALL BE
   13  PUNISHABLE  BY  A  CIVIL  PENALTY NOT TO EXCEED TWO THOUSAND DOLLARS FOR
   14  EACH SUCH VIOLATION.
   15    S 2. This act shall  take  effect  on  the  first  of  September  next
   16  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