What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
No co-sponsors yet.
History
- Referred to consumer protection
- Referred to consumer protection
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3796
Title of bill
An act to amend the general business law, in relation to limiting the liability of a debit cardholder for unauthorized use of a debit card
Purpose or general idea of bill
To limit the liability of a debit cardholder in the event an unauthorized use of the card occurs as a result of fraud or theft.
Summary of provisions
Amends Section 512 of the general business law as amended by chapter 556 of the laws of 1987 to require that a cardholder shall be liable for the unauthorized use of a debit card only if:
-the card is a debit card the holder has used, received, or requested, or authorized another to use.
-the liability of the cardholder does not exceed fifty dollars
- the card issuer gives the holder adequate notice of the potential liability
-the issuer has provided the holder with a means by which to inform the issuer of the loss or theft of the card
-the unauthorized use occurs before the issuer is informed of the loss or theft.
-the issuer has provided an accurate method by which to identify the cardholder as the person authorized to use it.
Justification
In recent years debit cards have been gaining popularity as a great way of avoiding the excess spending that can be a result of credit card use, all the while allowing for an increase in self-accountability and discipline. Like credit cards, debit cards have grown to be increasingly more acceptable worldwide. Unfortunately, the expansion of debit card acceptability has not been accompanied by the same protections that apply to credit card holders worldwide.
Currently, there are no protections for a business whose debit card has been used fraudulently. By rounding out the law, a small business will be extended the same protections as an individual. This will be one more step in making New York a more business-friendly environment, which is one of the main components in the State's road to recovery.
Prior legislative history
A.6969 of 2011-12.
Fiscal implications
None to the state.
Effective date
This act shall take effect in 90 days after it shall have become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.