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Can you summarize 3 NYCRR Part 75?
General Regulations of the Superintendent > Credit Card Issuance by Credit Unions
Short Summary
The provided legal document content pertains to the issuance of credit cards by state-chartered credit unions in New York. It authorizes credit unions to issue credit cards to their members for the purpose of providing access to overdraft loans, cash advances, and purchases of goods or services. The issuance of credit cards must comply with the provisions of article XI of the Banking Law. Overdraft loans and cash advances should be made based on the terms and conditions specified in subdivision 5 of section 108 of the Banking Law. Credit extensions should be made in accordance with the provisions of section 413 of the Personal Property Law. The document references 3 CRR-NY 75.1 as the relevant regulation. No specific exemptions or penalties are mentioned in the provided content.
Whom does it apply to?
State-chartered credit unions and their members
What does it govern?
Credit Card Issuance by Credit Unions
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
New York