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NY S04778
Bill
Status
4/15/2015
Primary Sponsor
Michael Venditto
Click for details
AI Summary
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Prohibits credit card and debit card issuers from accepting or soliciting nonpublic personal information of cardholders from third parties, with an exception for banking organizations verifying cardholder identity and preventing unauthorized use.
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Defines nonpublic personal information using the same meaning as 15 U.S.C. § 6809(4).
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Allows disclosure of nonpublic personal information to third parties when necessary to effect authorized transactions, service financial products, maintain cardholder accounts, or prevent fraud and unauthorized transactions.
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Establishes civil penalties of up to $2,000 for each violation by an issuer.
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Takes effect September 1st following enactment into law.
Legislative Description
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.
Last Action
COMMITTED TO RULES
6/17/2016