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NY A04422

Bill

Official Source

Status

Introduced

2/2/2017

Primary Sponsor

Gary Pretlow

Click for details

Origin

Assembly

2017-2018 General Assembly

AI Summary

  • Amends New York Banking Law to define "smart chip" as credit card technology with embedded microchips designed to combat 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 and after January 1, 2018

  • 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

1/3/2018

Committee Referrals

Banks2/2/2017

Full Bill Text

No bill text available