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NY A04653

Bill

Official Source

Status

Introduced

2/5/2019

Primary Sponsor

Gary Pretlow

Click for details

Origin

Assembly

2019-2020 General Assembly

AI Summary

  • Requires lending institutions to provide personal identification numbers (PINs) simultaneously when issuing smart chip credit cards
  • Defines "smart chip" as credit card technology embedded with microchips designed to combat credit card fraud and information theft
  • Applies to all credit cards issued or reissued on and after January 1, 2020
  • Takes effect immediately upon enactment
  • Amends Banking Law by adding new subdivision 31 and section 9-x

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

1/8/2020

Committee Referrals

Banks2/5/2019

Full Bill Text

No bill text available