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Sponsors
1 Co-sponsor
History
- Substituted by A3601
- Advanced to third reading
- 2nd report cal.
- 1st report cal.449
- 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
Signed by Governor · Sponsor Alan Maisel
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S4301
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 discourage banks and other financial institutions from sending out unsolicited checks to consumers and protect consumers from the fraudulent use of such checks.
Summary of specific provisions
The general business law is amended by adding a new section 520-d. This section provides that consumers sent convenience checks by credit or debit card issuers shall not be liable for the use of such checks unless the consumer has accepted the check by using such check.
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. This bill would ensure that consumers are not held liable for fraudulent use of such checks.
Prior legislative history
A2995 (2011-2012) A7500 (2009-2010)
Fiscal implications
None.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.