New York S01859 requires credit card issuers to provide cardholders with at least thirty days' notice before closing, cancelling, or terminating.

New York S01859 amends the general business law to mandate that credit card issuers must give cardholders at least thirty days' written notice via email, text message, or written letter before closing, cancelling, or terminating their accounts. This notice requirement aims to ensure cardholders have sufficient time to manage their finances and find alternative credit options. The notice is not required if the account is closed due to fraud, misuse, identity theft, unauthorized use, delinquency, default, bankruptcy, insolvency, or compliance with federal, state, or local laws.

New York S01859 requires credit card issuers to provide cardholders with at least thirty days' notice before closing, cancelling, or terminating.

New York S01859 amends the general business law to mandate that credit card issuers must give cardholders at least thirty days' written notice via email, text message, or written letter before closing, cancelling, or terminating their accounts. This notice requirement aims to ensure cardholders have sufficient time to manage their finances and find alternative credit options. The notice is not required if the account is closed due to fraud, misuse, identity theft, unauthorized use, delinquency, default, bankruptcy, insolvency, or compliance with federal, state, or local laws.