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NY A03421

Bill

Official Source

Status

Introduced

1/26/2021

Primary Sponsor

Gary Pretlow

Click for details

Origin

Assembly

2021-2022 General Assembly

AI Summary

  • Amends 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, 2022
  • 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

1/5/2022

Committee Referrals

Banks1/26/2021

Full Bill Text

No bill text available