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NY A08620

Bill

Official Source

Status

Introduced

12/16/2015

Primary Sponsor

Gary Pretlow

Click for details

Origin

Assembly

2015-2016 General Assembly

AI Summary

  • Amends the New York Banking Law to define "smart chip" as credit card technology with embedded microchips designed to prevent fraud and information theft
  • Requires lending institutions to provide customers with a personal identification number (PIN) whenever issuing a smart chip credit card
  • Applies to all credit cards issued or reissued on or after January 1, 2017
  • Takes effect immediately upon enactment

Legislative Description

Requires lending institutions to supply customers with PINs to be used in conjunction with any chip-embedded credit card.

Last Action

referred to banks

1/6/2016

Committee Referrals

Banks12/16/2015

Full Bill Text

No bill text available