Similar to the ‘Do-Not-Call’ lists that prevent telemarketers from calling, under the proposal credit card companies would be forbidden to solicit registered individuals by mail, email or telephone. In addition, they could not issue a credit card in the name of a person on the do-not-solicit list.
Violators could face fines of up to $10,000 for a first offense and be prosecuted under New Jersey’s Consumer Fraud Act. Also, as proponents say the measure would protect consumers—especially the elderly and mentally ill—from what they describe as “predatory” credit card solicitations, registered consumers would not be held liable for any debt resulting form the use of an unsolicited card.
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