NY A00546

Establishes the "Electronic Fund Transfer Privacy Act" requiring financial institutions to protect the confidentiality of personally identifiable information related to electronic fund transfers.

Prohibits disclosure of transfer information except to the consumer, necessary parties to the transfer, account servicing staff, government authorities with legal authorization, regulatory agencies, or persons with written consumer consent (valid for 45 days maximum).

Bans financial institutions from selling or disclosing lists containing consumer personally identifiable information related to electronic fund transfer systems.

Requires financial institutions to maintain reasonable procedures to prevent unauthorized disclosure and notify affected consumers within three days of discovering an unauthorized disclosure via registered mail.

Permits government disclosure of transfer information only through search warrant or subpoena, with a seven-day notification period to the affected individual (unless otherwise ordered by court) and establishes civil remedies including actual damages (minimum $100), attorney's fees, and potential punitive damages for violations.