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NY A06969

Bill

Official Source

Status

Introduced

4/6/2011

Primary Sponsor

Micah Kellner

Click for details

Origin

Assembly

2011-2012 General Assembly

AI Summary

  • Caps debit cardholder liability for unauthorized use at $50, contingent on card issuer meeting notification and identification requirements
  • Requires card issuers to provide adequate notice of potential liability, a method to report loss or theft, and a means to identify authorized users
  • Places burden of proof on card issuer to demonstrate either that use was authorized or that all conditions for liability have been met
  • Prohibits any liability for unauthorized debit card use except under the conditions specified in the bill or other applicable law
  • Takes effect 90 days after enactment and applies to all transactions occurring on or after the effective date

Legislative Description

Limits the liability of a debit card holder for unauthorized use of a debit card.

Last Action

referred to banks

1/4/2012

Committee Referrals

Banks4/6/2011

Full Bill Text

No bill text available