S 4413 NY

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Bill No.: Summary Actions Committee&nbspVotes Floor&nbspVotes Memo Text LFIN Chamber&nbspVideo/Transcript S04413 Summary: BILL NO S04413A &nbsp SAME AS SAME AS A10770

&nbsp SPONSOR MAY &nbsp COSPNSR &nbsp MLTSPNSR &nbsp Amd §§527 & 527-a, Gen Bus L &nbsp Requires a business to delete a consumer's financial information after cancellation of an automatic renewal or continuous service, unless such consumer has affirmatively consented to retention of such financial information; requires such business to notify such consumer of such deletion.

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STATE OF NEW YORK ________________________________________________________________________

4413--A Cal. No. 542

2025-2026 Regular Sessions

IN SENATE

February 4, 2025 ___________

Introduced by Sen. MAY -- read twice and ordered printed, and when printed to be committed to the Committee on Consumer Protection -- recommitted to the Committee on Consumer Protection in accordance with Senate Rule 6, sec. 8 -- reported favorably from said committee, ordered to first report, amended on first report, ordered to a second report and ordered reprinted, retaining its place in the order of second report

AN ACT to amend the general business law, in relation to deletion of a consumer's financial information after cancellation of an automatic renewal or continuous service

The People of the State of New York, represented in Senate and Assem- bly, do enact as follows:

1 Section 1. Section 527 of the general business law is amended by 2 adding a new subdivision 5 to read as follows: 3 5. "Financial information" means any information relating to a consum- 4 er's credit card, debit card, or account with a third party held by a 5 business for the purpose of charging such consumer. 6 § 2. Section 527-a of the general business law is amended by adding a 7 new subdivision 2-a to read as follows: 8 2-a. a. Upon receiving a request from a consumer to cancel an automat- 9 ic renewal or continuous service, a business shall delete all records of 10 such consumer's financial information held by such business unless such 11 business has obtained such consumer's affirmative consent to retain such 12 financial information for future purchases. If such business does not 13 obtain such affirmative consent, such business shall: 14 (i) Delete all records of such consumer's financial information within 15 fourteen days of receipt of such request to cancel such automatic 16 renewal or continuous service; and 17 (ii) Notify such consumer by mail or electronic mail of the date such 18 records were deleted pursuant to paragraph (i) of this subdivision, and 19 of each of such consumer's credit cards, debit cards, or accounts with a

EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08677-02-6

S. 4413--A 2

1 third party for which such records were deleted, within seven days of 2 such deletion. 3 b. The provisions of this subdivision shall not apply where a business 4 is otherwise required to retain a consumer's financial information 5 pursuant to state or federal law, rule or regulation. 6 § 3. This act shall take effect on the thirtieth day after it shall 7 have become a law. Effective immediately, the addition, amendment and/or 8 repeal of any rule or regulation necessary for the implementation of 9 this act on its effective date are authorized to be made and completed 10 on or before such effective date.

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