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Who cares
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Sponsors
No co-sponsors yet.
History
- Referred to consumer protection
- Referred to consumer protection
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Prohibits the unsolicited mailing of convenience checks to consumers without the express consent of the consumer
In Assembly Committee · Consumer Affairs And Protection · Sponsor Alan Maisel
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
Title of bill
An act to amend the general business law, in relation to prohibiting the unsolicited mailing of convenience checks to consumers
Purpose or general idea of bill
This bill will prevent banks and other financial institutions from sending out unsolicited checks to consumers.
Summary of specific provisions
The general business law is amended by adding a new section 520-d. This section prohibits the sending of convenience checks to credit card or debit card holders without these consumers' express agreement.
Justification
When banks send out unsolicited checks, consumers are unable to know whether or not these unrequested checks have come in the mail. These checks are easy targets for mail theft. Thieves may falsely use these checks, and it may be some time before the consumer becomes aware that these were stolen and fraudulently used. By this time, the consumer's credit and bank account balance may have taken a serious hit. If only the checks that customers request are sent through the mail, this situation would be prevented from happening to any more New Yorkers.
Prior legislative history
None.
Fiscal implications
None.
Effective date
Immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.