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NY A00970

Bill

Official Source

Status

Introduced

1/9/2013

Primary Sponsor

Micah Kellner

Click for details

Origin

Assembly

2013-2014 General Assembly

AI Summary

  • Limits debit cardholder liability for unauthorized use to a maximum of $50, provided the card issuer meets specified conditions
  • Requires card issuers to provide cardholders with adequate notice of potential liability and a method to report loss or theft of the card
  • Places burden of proof on the card issuer to demonstrate either that the use was authorized or that all conditions for imposing liability have been met
  • Prohibits cardholders from incurring any liability for unauthorized debit card use beyond what is permitted under this section 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

1/8/2014

Committee Referrals

Banks1/9/2013

Full Bill Text

No bill text available