Assembly Bill A3627

2023-2024 Legislative Session

Relates to requiring lending institutions to supply customers with PINs to be used in conjunction with any chip-embedded credit card

download bill text pdf

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Current 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

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2023-A3627 (ACTIVE) - Details

Current Committee:
Assembly Banks
Law Section:
Banking Law
Laws Affected:
Amd §2, add §9-aa, Bank L
Versions Introduced in Other Legislative Sessions:
2015-2016: A8620
2017-2018: A4422
2019-2020: A4653
2021-2022: A3421

2023-A3627 (ACTIVE) - Summary

Requires lending institutions to supply customers with PINs to be used in conjunction with any chip-embedded credit card.

2023-A3627 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3627
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 3, 2023
                                ___________
 
 Introduced  by M. of A. PRETLOW -- read once and referred to the Commit-
   tee on Banks
 
 AN ACT to amend the banking law, in relation to requiring lending insti-
   tutions to provide PINs simultaneously with the issuance of smart chip
   credit cards
 
   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 32 to read as follows:
   32. SMART CHIP. THE TERM "SMART CHIP"  MEANS  CREDIT  CARD  TECHNOLOGY
 WHERE  CREDIT  CARDS  ARE EMBEDDED WITH MICROCHIPS TO HELP COMBAT CREDIT
 CARD FRAUD AND INFORMATION THEFT.
   § 2. The banking law is amended by adding a new section 9-aa  to  read
 as follows:
   §  9-AA.  SMART  CHIP  TECHNOLOGY.  ANY TIME A LENDING INSTITUTION, AS
 DEFINED IN PARAGRAPH (A) OF SUBDIVISION ONE OF SECTION  NINE-T  OF  THIS
 ARTICLE, ISSUES A SMART CHIP CREDIT CARD, SUCH LENDING INSTITUTION SHALL
 ALSO  PROVIDE  THE  CUSTOMER WITH A PERSONAL IDENTIFICATION NUMBER TO BE
 USED IN CONJUNCTION WITH THAT CARD.
   § 3. This act shall take effect immediately and  shall  apply  to  all
 credit cards issued or reissued on and after January 1, 2024.
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08189-01-3

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