NY LEG EBT Card Fraud Reporting

Updated on: Nov 26, 2024

Latest Event


  • Nov. 2024 NY LEG Governor Approval
  • On Nov. 22, 2024, NY LEG approved bill, became Chapter 487, via Approval Memo .15.
  • Bill takes effect six months after it becomes law, so will be effective on May 22, 2025.

On Jun. 6, NY LEG passed bill re electronic benefit transfers (EBT).

  • NY LEG passed AB 9269 (substituted for SB 8662) to report fraud on welfare accounts.
  • Amend NY LEG 55-2-21A (social services law, electronic benefit transfer system).
  • Key Bill Provisions
  • Current law requires departments and local social services to establish EBT, credit or debit card service, ATMs, and point-of-sale terminal access points to withdraw funds.
  • The bill would require EBT systems, such as the SNAP benefits system, to allow recipients to cancel or lock credit or debit card if fraud is suspected or reported.
  • Also EBT interactive voice response systems must permit recipient cancel/lock request.
  • Legislative History
  • On Feb. 23, 2024, bill introduced in Assembly; on Apr. 9, 2024, bill passed Assembly.
  • On Apr. 9, 2024, bill was introduced in Senate; on Jun. 6, 2024, bill passed in Senate.
  • Effectiveness
  • If enacted, bill takes effect six months after it becomes law.
  • Nov. 2024 NY LEG Governor Approval
  • On Nov. 22, 2024, NY LEG approved bill, became Chapter 487, via Approval Memo .15.
  • Bill takes effect six months after it becomes law, so will be effective on May 22, 2025.
Regulators
NY LEG
Entity Types
Bank; CNSM; Corp
Reference
Memo .15, Ch. 487, 11/22/2024; Bill, A09269, S08662, 6/6/2024; Citation: NY LEG 55-2-21A;
Functions
Cyber; Financial; Fraud; Operations; Risk
Countries
United States of America
Category
State
N/A
Products
Banking; Cards; Corporate; Deposits
Rule Type
Final
Regions
Am
Rule Date
Jun 6, 2024
Effective Date
May 22, 2025
Rule ID
215042
Linked to
N/A
Reg. Last Update
Nov 22, 2024
Report Section
US Banking