Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2016 |
referred to consumer affairs and protection |
Jan 13, 2015 |
referred to consumer affairs and protection |
Assembly Bill A1848
2015-2016 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
co-Sponsors
Michael DenDekker
Michele Titus
Michael Benedetto
Michael Simanowitz
multi-Sponsors
Carmen E. Arroyo
Vivian Cook
Deborah Glick
Margaret Markey
2015-A1848 (ACTIVE) - Details
2015-A1848 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1848 2015-2016 Regular Sessions I N A S S E M B L Y January 13, 2015 ___________ Introduced by M. of A. GUNTHER, DenDEKKER, TITUS, BENEDETTO, SIMANOWITZ, BROOK-KRASNY, SKOUFIS, ZEBROWSKI, OTIS, HOOPER, MONTESANO -- Multi- Sponsored by -- M. of A. ARROYO, COOK, GLICK, MARKEY, MOSLEY, PERRY, RIVERA -- read once and referred to the Committee on Consumer Affairs and Protection 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-w to read as follows: S 9-W. 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, 2016. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02171-01-5
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