Requires issuers of credit cards to give the cardholder at least thirty days written notice via email, text message, or written letter before closing, cancelling, or terminating the cardholder's account.
STATE OF NEW YORK
________________________________________________________________________
8744--A
2025-2026 Regular Sessions
IN ASSEMBLY
June 2, 2025
___________
Introduced by M. of A. JACKSON -- read once and referred to the Commit-
tee on Consumer Affairs and Protection -- recommitted to the Committee
on Consumer Affairs and Protection in accordance with Assembly Rule 3,
sec. 2 -- committee discharged, bill amended, ordered reprinted as
amended and recommitted to said committee
AN ACT to amend the general business law, in relation to requiring
issuers of credit cards to give the cardholder at least thirty days
notice before closing, cancelling, or terminating the cardholder's
account
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The general business law is amended by adding a new section
2 520-f to read as follows:
3 § 520-f. Issuer cancellation. 1. Notice required. No issuer shall
4 close, cancel, or terminate a holder's account with the issuer for the
5 extension of credit through the use of a credit card without providing
6 the holder written notice via email, text message, or written letter at
7 least thirty days before the effective date of such closure, cancella-
8 tion, or termination.
9 2. Exceptions. The provisions of this section shall not apply if an
10 issuer closes, cancels, or terminates a holder's account with the issuer
11 for the extension of credit through the use of a credit card because of:
12 (a) fraud, misuse, identity theft, or unauthorized use affecting the
13 account;
14 (b) delinquency, default, or other failure by the holder to comply
15 with the terms and conditions governing the account;
16 (c) the holder's bankruptcy, insolvency, receivership, death, legal
17 incapacity, or inability to repay or otherwise perform obligations under
18 the credit card agreement; or
19 (d) any federal, state, or local law, regulation, court order, legal
20 process, sanctions requirement, anti-money-laundering obligation, or
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD05393-03-6
A. 8744--A 2
1 other governmental directive or restriction requiring or reasonably
2 necessitating such action.
3 § 2. This act shall take effect on the one hundred twentieth day after
4 it shall have become a law.
