New York S 6125: Prohibits payment card networks from assessing penalties against small businesses or financial intermediaries who fail to comply with the credit card surcharge notice requirement

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S06125 Summary:

BILL NOS06125 

&nbsp

SAME ASSAME AS A11283

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SPONSORRIVERA

&nbsp

COSPNSR

&nbsp

MLTSPNSR

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Amd §§511 & 518, Gen Bus L

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Prohibits payment card networks from assessing penalties against small businesses or financial intermediaries who fail to comply with the credit card surcharge notice requirement; declares any clause of a contract, agreement, or arrangement in violation of such provision void.

Go to top S06125 Actions:

BILL NOS06125 

&nbsp

03/05/2025REFERRED TO CONSUMER PROTECTION

01/07/2026REFERRED TO CONSUMER PROTECTION

Go to topS06125 Committee&nbspVotes:

Go to topS06125 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS06125 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 6125

 2025-2026 Regular Sessions

 IN SENATE

 March 5, 2025
 ___________

 Introduced by Sen. RIVERA -- read twice and ordered printed, and when
 printed to be committed to the Committee on Consumer Protection

 AN ACT to amend the general business law, in relation to prohibiting
 payment card networks from assessing penalties against small busi-
 nesses or financial intermediaries who fail to comply with the credit
 card surcharge notice requirement

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 511 of the general business law is amended by
 2 adding a new subdivision 11 to read as follows:
 3 11. "Payment card network" means an entity that directly, or through
 4 licensed members, processors, or agents, provides the proprietary
 5 services, infrastructure, and software that route information and data
 6 to conduct debit card or credit card transaction authorization, clear-
 7 ance, and settlement, and that a person uses in order to accept as a
 8 form of payment a brand of debit card, credit card or other device that
 9 may be used to carry out debit or credit transactions.
 10 § 2. Section 518 of the general business law is amended by adding a
 11 new subdivision 3 to read as follows:
 12 3. No payment card network or any subdivision thereof doing business
 13 in the state of New York shall assess penalties against any small busi-
 14 ness or any financial intermediary for violating the provisions of this
 15 section. Any clause or portion of a contract, agreement, or arrangement
 16 that would assess penalties against a small business or financial inter-
 17 mediary in violation of this subdivision shall be automatically void.
 18 For the purposes of this subdivision, "small business" shall have the
 19 same meaning as defined in section one hundred thirty-one of the econom-
 20 ic development law.
 21 § 3. This act shall take effect immediately.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD04388-01-5

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