Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Feb 13, 2014 |
print number 8649a |
Feb 13, 2014 |
amend (t) and recommit to consumer affairs and protection |
Jan 30, 2014 |
referred to consumer affairs and protection |
Assembly Bill A8649A
2013-2014 Legislative Session
Sponsored By
GUNTHER
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Bill Amendments
co-Sponsors
Michael DenDekker
Michele Titus
Michael Benedetto
2013-A8649 - Details
2013-A8649 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8649 I N A S S E M B L Y January 30, 2014 ___________ Introduced by M. of A. GUNTHER -- read once and referred to the Commit- tee on Consumer Affairs and Protection AN ACT to amend the general business law, in relation to requiring cred- it cards to contain smart chip technology THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 458-b of the general business law is amended by adding a new subdivision 5 to read as follows: 5. "SMART CHIP" MEANS A CREDIT CARD TECHNOLOGY WHERE CARDS ARE EMBED- DED WITH CHIPS AND A CARDHOLDER MUST PUT IN THEIR PIN OR SIGN FOR EACH TRANSACTION TO BE APPROVED. THIS INCLUDES "CHIP AND PIN" AND "CHIP AND SIGNATURE" AS SECURE METHODS TO PROTECT AGAINST CARD HACKERS AND FRAUD. (A) "CHIP AND PIN" REQUIRES A CONSUMER TO ENTER A PIN NUMBER AFTER EACH TRANSACTION FOR APPROVAL. (B) "CHIP AND SIGNATURE" REQUIRES A CONSUMER TO INSERT THE CARD INTO A PORTABLE ELECTRONIC READER AND THEN SUBSEQUENTLY SIGN FOR APPROVAL OF THE TRANSACTION. S 2. Section 458-k of the general business law is renumbered 458-l and a new 458-k is added to read as follows: S 458-K. SMART CHIP TECHNOLOGY. CREDIT SERVICE BUSINESSES ARE REQUIRED TO ISSUE CREDIT CARDS CONTAINING SMART CHIP TECHNOLOGY AS DEFINED IN SUBDIVISION FIVE OF SECTION FOUR HUNDRED FIFTY-EIGHT-B OF THIS ARTICLE. S 3. This act shall take effect immediately and shall apply to all credit cards issued or reissued on and after January 1, 2015. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13699-01-4
co-Sponsors
Michael DenDekker
Michele Titus
Michael Benedetto
Michael Simanowitz
multi-Sponsors
Carmen E. Arroyo
Vivian Cook
Deborah Glick
Margaret Markey
2013-A8649A (ACTIVE) - Details
2013-A8649A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8649--A I N A S S E M B L Y January 30, 2014 ___________ Introduced by M. of A. GUNTHER, DenDEKKER, TITUS, BENEDETTO -- read once and referred to the Committee on Consumer Affairs and Protection -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the banking law, in relation to requiring credit cards to contain smart chip technology THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 2 of the banking law is amended by adding a new subdivision 30 to read as follows: 30. SMART CHIP. THE TERM, "SMART CHIP" MEANS A CREDIT CARD TECHNOLOGY WHERE CARDS ARE EMBEDDED WITH CHIPS AND A CARDHOLDER MUST PUT IN THEIR PIN OR SIGN FOR EACH TRANSACTION TO BE APPROVED. THIS INCLUDES "CHIP AND PIN" AND "CHIP AND SIGNATURE" AS SECURE METHODS TO PROTECT AGAINST CARD HACKERS AND FRAUD. (A) "CHIP AND PIN" REQUIRES A CONSUMER TO ENTER A PIN NUMBER AFTER EACH TRANSACTION FOR APPROVAL. (B) "CHIP AND SIGNATURE" REQUIRES A CONSUMER TO INSERT THE CARD INTO A PORTABLE ELECTRONIC READER AND THEN SUBSEQUENTLY SIGN FOR APPROVAL OF THE TRANSACTION. S 2. The banking law is amended by adding a new section 9-v to read as follows: S 9-V. SMART CHIP TECHNOLOGY. A LENDING INSTITUTION, AS DEFINED IN PARAGRAPH (A) OF SUBDIVISION ONE OF SECTION NINE-T OF THIS ARTICLE, SHALL NOT ISSUE CREDIT CARDS OR DEBIT CARDS WITHOUT SMART CHIP TECHNOLO- GY AS DEFINED IN SUBDIVISION THIRTY OF SECTION TWO OF THIS ARTICLE. S 3. This act shall take effect immediately and shall apply to all credit cards issued or reissued on and after January 1, 2015. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13699-03-4
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