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NY A09588
Bill
Status
1/27/2020
Primary Sponsor
Michael DenDekker
Click for details
AI Summary
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Amends General Business Law to establish a 90-day grace period for cardholders to redeem accumulated credit card reward points after an account is modified, cancelled, closed, or terminated.
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Requires credit card issuers to notify cardholders within 15 days of any account modification, cancellation, closure, or termination.
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Prohibits credit card agreements and rewards programs from allowing credit card points to expire.
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Exempts provisions from applying in cases of cardholder fraud or misuse of the credit card account or rewards program.
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Voids any agreement provisions that waive, limit, or disclaim the rights established in this section as contrary to public policy; takes effect one year after enactment.
Legislative Description
Relates to establishing a set grace period for the use of credit card reward points when an account is modified, cancelled, closed or terminated; ninety days shall be provided for the use of such points from the date notice of modification, cancellation, or termination of the card is provided.
Last Action
print number 9588a
9/9/2020