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NY A03627

Bill

Official Source

Status

Introduced

2/3/2023

Primary Sponsor

Gary Pretlow

Click for details

Origin

Assembly

2023-2024 General Assembly

AI Summary

  • Amends the 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) at the time a smart chip credit card is issued or reissued.

  • Applies to all credit cards issued or reissued on or after January 1, 2024.

  • 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

1/3/2024

Committee Referrals

Banks2/3/2023

Full Bill Text

No bill text available