New York Information on Answering a Consumer Credit Transaction refers to the laws and regulations that govern consumer credit transactions in the State of New York. The two main types of New York Information on Answering a Consumer Credit Transaction are the New York Consumer Protection Law and the New York Credit Card Act. The New York Consumer Protection Law protects consumers from unfair or deceptive acts or practices in the sale of goods or services, and specifically prohibits a variety of activities related to consumer credit transactions. The law requires that consumers must receive certain disclosures before entering into a credit transaction, including but not limited to the amount of interest to be charged, the terms and conditions of the agreement, and the right of the consumer to cancel the transaction. The New York Credit Card Act establishes certain protections for consumers who use credit cards for their purchases. This law requires that credit card issuers must provide consumers with specified disclosures related to their credit card transactions, including the APR, annual fee, grace period, and other terms and conditions. The law also requires that the credit card issuer must provide the consumer with a written notice prior to any increase in the interest rate. In addition, the law prohibits credit card issuers from charging certain fees, such as a late fee, if the consumer fails to make a payment within a certain timeframe. Finally, the New York Department of Financial Services also regulates consumer credit transactions in the state. This department provides consumers with a variety of resources related to consumer credit transactions, including a complaint process and consumer education materials.