Vote Smart's Synopsis:

Vote to pass a bill that requires the deletion of consumer financial records upon cancellation of services in New York.

Highlights:

• Amends existing business law to define “Financial Information” as any information related to a consumer’s credit card, debit card, or account with a third party held by a business to charge a consumer (Sec. 1).

• Requires businesses to delete the financial information of a consumer upon receiving their request to cancel automatic renewal or continuous service unless the consumer consents to the retention of such information (Sec. 1). 

• Requires businesses to delete records of a consumer’s financial information within 14 days of receiving such a request and notify the consumer of the date of the deletion within 7 days of it occurring (Sec. 1).

• Exempts businesses that are required to keep a consumer’s financial information under federal law, rule, or regulation (Sec. 1).

• Specifies that this Act is effective thirty days after becoming law (Sec. 3).

Full Bill Text