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Can you summarize NYCL GBS Article 29-AAA?
General Business > Credit Card Registration Services
Short Summary
The provided legal document governs Credit Card Registration Services in the state of New York. It outlines the enforcement of the Credit Card Registration Services law and the actions that can be taken in case of violations. The attorney general has the authority to apply for an injunction to restrain the continuance of violations, with a notice of not less than five days given to the defendant. Proof of injury or damage is not required for the issuance of an injunction if the court determines a violation of the law. Additionally, the court may impose a civil penalty of up to one thousand dollars for each violation. The attorney general is authorized to take proof, determine relevant facts, and issue subpoenas in accordance with the civil practice law and rules. The document also specifies certain requirements for contracts for services, including that non-compliant contracts shall be void and unenforceable, and any waiver of the provisions of the article shall be deemed void and unenforceable. It is declared to be a deceptive trade practice and unlawful for a credit card registration service to misrepresent the nature of the services, the identity of the provider, or the consequences of not subscribing to the services. The document further prohibits credit card registration services from automatically renewing contracts without proper notice to the subscriber, and requires written notice of renewal to include the proposed renewal term, price, and any changes in services. Additionally, the document restricts credit card registration services from renting, selling, exchanging, or making available cardholder or access device information for direct mail marketing or solicitation without prior written approval. However, it does not restrict a card issuer’s use of its own cardholder list. The document provides definitions for key terms such as ‘Consumer’, ‘Subscriber’, ‘Person’, ‘Credit card’, and ‘Access device’. It also requires credit card registration services to make certain disclosures prior to entering into a contract for services. No specific penalties for non-compliance or violations are mentioned in the provided content.
Whom does it apply to?
Credit card registration services, consumers, subscribers, credit card or access device issuers, financial institutions
What does it govern?
Credit Card Registration Services
What are exemptions?
No specific exemptions are mentioned in the provided content.
What are the Penalties?
The court may impose a civil penalty of up to one thousand dollars for each violation.
Jurisdiction
New York