New York Assembly Bill A08744

New York 2025-2026 Regular Session

• Introduced: 6/2/25
• Refer: 6/2/25
• Refer: 1/7/26

Caption

Requires issuers of credit cards to give the cardholder at least 45 days written notice via email, text message, or written letter before closing the cardholder's account.

Summary

A08744 would amend New York’s General Business Law to require credit card issuers to provide cardholders at least 45 days’ written notice before closing or deactivating an account. The notice could be delivered by email, text message, or traditional written letter. The bill also states that closing or deactivating a card in violation of this notice requirement would constitute a violation of law. The measure is aimed at giving consumers advance warning so they have time to pay down balances, arrange alternative payment methods, or otherwise respond before losing access to a credit card account. It applies to issuers of credit cards and creates a new statutory consumer-protection rule that would take effect immediately upon enactment.

Impact

If enacted, the bill would add a new section 520-f to the General Business Law and impose a mandatory 45-day notice period on credit card issuers before account closure. This would affect card issuers’ account-management and cancellation practices, and it would give cardholders a clearer legal right to advance notice. A violation would be treated as a statutory violation, potentially exposing issuers to enforcement under existing consumer protection and business law mechanisms.

Sentiment

The bill’s text and caption suggest a consumer-protection approach focused on fairness and transparency in credit card account closures. No committee transcript or vote data is available, so there is no recorded legislative debate or formal vote history to indicate broader support or opposition. Based on the bill’s structure, the general sentiment appears consumer-oriented and protective of cardholders.

Contention

No specific points of contention are documented in the available materials because there are no committee transcripts or recorded votes. Potential areas of debate, if the bill advances, could include whether 45 days is the appropriate notice period, what forms of notice should be sufficient, and whether issuers should have exceptions for fraud, delinquency, risk management, or account abuse. Any opposition would likely come from credit card issuers concerned about operational flexibility and compliance burdens, while consumer advocates would likely support the added notice requirement.