§ 520-c. Credit information. 1. The department of financial services
shall establish a telephone number and an area on its website, or
provide a link on such site to other websites with a toll-free telephone
number service at which customers may obtain information on annual
percentage rates, annual fees, per-transaction charges, late payment
fees, overlimit fees and grace periods for credit cards to the extent
readily available to the department. Every issuer of credit cards to
natural persons residing in this state shall set forth on each
solicitation, application and monthly billing statement mailed or
otherwise presented to such persons, a notice stating "New York
residents may contact the New York state department of financial
services by telephone or visit its website for free information on
comparative credit card rates, fees and grace periods." Such notice
shall be printed on the same side as the disclosure of rates, fees and
charges, in case of the solicitations and applications, and on the same
side as the notice of the balance of the account and the amount due are
printed, in the case of the monthly billing statement. The
superintendent of financial services shall prescribe the web address and
telephone number to be printed next to the notice. The notice shall be
in type no smaller than eight points. The telephone number of the credit
card issuer shall appear higher up on the page and in the type at least
as large as that provided for the telephone number of the department of
financial services. Issuers shall include such notice in materials sent
to residents of this state as required under this section commencing
October first, nineteen hundred ninety-four.

2. The superintendent of financial services is authorized to adopt
such rules and regulations as consistent with the provisions of this
section.

3. For the purposes of this section:

(a) "Credit card" means any card issued pursuant to an agreement which
allows the holder of the card to obtain goods and services on the credit
of the issuer; and

(b) "Issuer" means any bank, trust company, savings bank, savings and
loan association, or branch of a foreign banking corporation the
deposits of which are insured by the federal deposit insurance
corporation, which is incorporated, chartered, organized or licensed
under the laws of this state or any other state or the United States,
which issues credit cards to natural persons residing in this state.

4. The authority of the superintendent of financial services pursuant
to sections thirty-nine and forty-four of the banking law shall extend
to violations of this section by any issuer.